Published on : Apr 22, 2020
The growth of the global corrosion protective coatings and acid proof linings market largely hinges on to advancements in equipment manufacturing. The wide application portfolio of these coatings has played an integral role in market growth. The past decade has witnessed the deployment of cutting-edge technologies for protecting several types of machinery, equipment, and devices. Furthermore, stipulation of strict standards for manufacturing various types of equipment and devices has also aided market growth. A wide array of industries use corrosion protective coatings and acid proof linings to increase the life of their products. Therefore, the total volume of revenues within the global corrosion protective coatings and acid proof linings market is expected to increase by leaps and bounds.
Some of the leading vendors operating in the global corrosion protective coatings and acid proof linings market are REMA TIP TOP, StonCor, KCC, Anticorrosion, Ineco, Al Gurg, and Global Suhaimi. The market vendors are expected to focus on investing in chemical research and analysis. This strategy could help them in developing high-performance coatings and acids. Moreover, availability of functional distribution channels and selling nodes shall also play an instrumental role in the growth of the market vendors. Therefore, the market players can increase their profit margins by tying up with proven distributors.
Advancements in Marine Engineering
The marine industry is characterised by the presence of large vessels, ships, and yachts. The constant subjection of these marine assets to harsh weather conditions necessitates the use of corrosion protective coatings and acid proof linings. Furthermore, protection of these assets holds relevance for manufacturers, port operators, and industrial heads. Damage to the outer surface of ships and vessels can lead to a series of problems within the industry. Several vessels fail inspection and fitness tests to quality for performing marine operations. This is also an important consideration from the perspective of market growth.
Need for Protective Coatings within the Automobile Industry
There is no contention about the use of protective coatings across the automobile industry. Car manufacturers have taken an onus upon themselves to offer scratch-resistant models of vehicles. This factor, coupled with the changing preferences of buyers, has led to large-scale consumption of corrosion protective coatings and acid proof linings across the automobile industry. The next decade is expected to unfurl an era of advancements across the automobile industry. Several autonomous companies provide resilient coating solutions for cars and bikes. This trend is gradually gaining momentum, and shall help in driving market demand.
Oil and Gas Industry to Emerge as Key Consumer
The oil and gas industry consists of a wide network of devices and equipment that are used in different capacities. Furthermore, complexity of operations within the oil and gas industry has emerged as a salient feature of the contemporary times. The use of high-cost devices and technologies within this industry calls for the deployment of protective nodes. This factor, in addition to the constant external attacks on industrial equipment, necessitate the use of corrosion protective coatings and acid proof linings. Furthermore, the investment capacity of the industry has also helped in aiding market growth in recent times.
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Need for Accelerated Transport and Improved Logistics
The transportation industry is also a resilient consumer of corrosion protective coatings and acid proof linings. Use of these coatings for ensuring seamless management of logistics and transportation has aided market growth. It is worthwhile to state that protective coatings increase the life of several tools and technologies used for transport and logistics. Furthermore, there is little contention about the presence of premium chemicals and solutions that can be used protective coatings. Improvements in chemical research have also ushered an era of growth across the global corrosion protective coatings and acid proof linings market.