What Is The Scope Of The Global Zinc Rich Coating Market?
Zinc rich coating is a type of paint or layer that contains a high concentration of zinc. It is used to protect metal surfaces from corrosion by providing a barrier and acting as a sacrificial anode. This coating helps ensure the longevity and durability of metal structures.
Zinc Rich Coating Global Market Report 2024 provides data on the global zinc rich coating market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The zinc rich coating market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Zinc Rich Coating Sector?
The zinc-rich coating market has experienced rapid growth, expected to rise from $1.33 billion in 2023 to $1.47 billion in 2024, at a CAGR of 10.6%. This growth is attributed to industrialization, infrastructure development, maintenance and repair needs, chemical engineering advancements, and early adoption in heavy industries. In the forecast period, the market is projected to grow to $2.21 billion by 2028, at a CAGR of 10.8%, driven by increased infrastructure projects, industrial maintenance demands, corrosion protection, coating technology advancements, and stricter environmental regulations. Major trends include sustainable construction, marine and offshore applications, eco-friendly formulations, growing demand in emerging markets, and enhanced performance characteristics.
Which Factors Are Boosting Growth In The Zinc Rich Coating Market?
The rising demand for maritime vessels is expected to propel the growth of the zinc-rich coating market. Maritime vessels, including ships and boats used for transportation and naval purposes, are increasingly needed for global trade and efficient goods transportation. These vessels face exposure to harsh marine environments that accelerate metal corrosion. Zinc-rich coatings act as a protective primer in multi-layer systems, safeguarding vessels from corrosion. For example, the United Nations Conference on Trade and Development reported a 2.4% increase in the global merchant fleet in 2023, with significant contributions from shipbuilding activities in China, South Korea, and Japan. The expanding maritime industry is driving the zinc-rich coating market.
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What Key Areas Define The Segmentation Of The Global Zinc Rich Coating Market?
The zinc rich coating market covered in this report is segmented –
1) By Type: Organic Zinc Rich Coating, Inorganic Zinc Rich Coating
2) By Application: Medical Instruments, Aerospace Components, Auto Parts, Other Applications
3) By End User: Automotive, Marine, Oil And Gas, Construction, Infrastructure
How Are Emerging Trends Reshaping The Dynamics Of The Zinc Rich Coating Market?
Key players in the zinc-rich coating market are advancing environmentally friendly protective solutions, including isocyanate-free coatings, to enhance corrosion resistance and prolong the lifespan of assets. These coatings eliminate harmful isocyanates, prioritizing safety and environmental compliance while maintaining effective corrosion protection. In April 2023, Tnemec Company, Inc., a U.S.-based producer of architectural and industrial coatings, launched Series 90-75 Tneme-Zinc, a water-based zinc-rich epoxy primer. This primer provides superior protection for steel surfaces in various conditions and meets LEED v4.1 Low-Emitting Materials standards. Its ultra-low VOC formulation enables rapid curing and creates an open polymer structure in the dry film, improving zinc particle conductivity for enhanced galvanic corrosion protection. The primer complies with AISC Class B surface requirements and is available in a reddish-gray hue.
Which Region Has The Fastest Expansion In The Zinc Rich Coating Market?
North America was the largest region in the zinc rich coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the zinc rich coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
