What Fueled The Previous Growth In The Zinc Rich Coating Market?
The zinc rich coating market has seen considerable growth due to a variety of factors.
• The market for zinc rich coatings has seen a swift surge in its size in the past few years. It is anticipated to expand from $1.47 billion in 2024 to $1.63 billion by 2025, proving a compound annual growth rate (CAGR) of 10.9%.
Elements contributing to the growth throughout the historical timeframe include the acceleration of industrialization, expansion of infrastructure, an increased emphasis on upkeep and repair, advancements in the field of chemical engineering, and early adoption within intensively industrial sectors such as construction and manufacturing.
What Is The Expected Growth In The Zinc Rich Coating Market Size Evolve over the Forecast Period?
The zinc rich coating market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for zinc rich coating is predicted to experience swift expansion in the proceeding years, reaching a valuation of $2.45 billion by 2029 with a compound annual growth rate (CAGR) of 10.7%.
This growth projection for the forecasting period can be credited to factors such as an uptick in infrastructure projects, surge in industrial maintenance requirements, escalating demand for corrosion prevention, progress in coating technology, and tighter environmental policies. Predominant trends within the forecast period encompass an upsurge in use for sustainable building, expansion in marine and offshore utilizations, enhancements in environmentally friendly mixes, growing demand in emerging markets, and improved performance features.
What Main Forces Are Fueling Expansion In The Zinc Rich Coating Market?
The anticipated increase in demand for ocean-going vessels is set to boost the zinc-rich coating market's development. Ocean-going vessels including both ships and boats have varied applications such as cargo transportation, ferrying of passengers, and military maneuvers, all conducted on various water bodies like oceans, lakes, and seas. Global trade expansion and the necessity for cost-effective, efficient transportation across international waters have resulted in increased demand for maritime vessels. Salt spray, seawater, and humidity in a harsh marine environment lead to the speedy deterioration of metal surfaces on these vessels. Zinc-rich coatings act as a protective layer against corrosion and also serve as the initial layer in multi-coating systems for marine vessels. For example, in January 2023, the United Nations Conference on Trade and Development, an intergovernmental organization based in Switzerland, reported that global ship or vessel registrations increased by 2.4% from 103,000 in 2022 to 105,000 in 2023. Furthermore, China, Japan, and the Republic of Korea were the key players in shipbuilding, making up 93% of the total global market share. Hence, the escalating demand for maritime vessels will stimulate the growth of the zinc-rich coating market.
What Are The Primary Segments In The Global Zinc Rich Coating Market?
The zinc rich coatingmarket 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
Subsegments:
1) By Organic Zinc Rich Coating: Epoxy Zinc Rich Coating, Polyurethane Zinc Rich Coating, Alkyd Zinc Rich Coating, Other Organic Types
2) By Inorganic Zinc Rich Coating: Silicate Zinc Rich Coating, Chromate Zinc Rich Coating, Other Inorganic Types
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What New Trends Are Influencing The Zinc Rich Coating Market?
Firms dominating the zinc-rich coating market prioritise the creation of environmentally friendly protective options, which include isocyanate-free coatings that boost corrosion resistance and prolong the lifespan of assets. By excluding isocyanates from their formulations, these groundbreaking protective solutions demonstrate a commitment to both safety and environmental compliance. For example, Tnemec Company, Inc, a leading American firm specialising in architectural and industrial coatings, debuted its water-based, zinc-rich epoxy primer, Series 90-75 Tneme-Zinc, in April 2023. This primer, which adds an extra layer of protection to steel surfaces across a range of conditions, has been constructed to fulfil the LEED v4.1 Low-Emitting Materials credit requirements. Due to its extremely low VOC formulation, the isocyanate-free primer cures rapidly, establishing an open network polymer structure within the dry film to boost conductivity among zinc particles, thereby providing enhanced galvanic corrosion protection. Tneme-Zinc, available in a reddish-gray hue, meets AISC Class B surface criteria.
Who Are the Key Players In The Zinc Rich Coating Market?
Major companies operating in the zinc rich coating market are:
• BASF SE
• The Sherwin-Williams Company
• PPG Industries Inc.
• Akzo Nobel N.V.
• Sika AG
• Axalta Coating Systems Ltd.
• Kansai Paint Co. Ltd.
• Hempel A/S
• Jotun Group
• Carboline Company
• ChemPoint Inc.
• Pioneer Metal Finishing LLC
• KTA-Tator Inc.
• Grand Polycoats Company
• Specialized Coating Systems Pty Ltd.
• Dulux Protective Coatings
• Rainbow Technology Corp
• Anochrome Group
• Baril Coatings USA
• Advance Paints Pvt Ltd.
• ZRC Worldwide
• J Harlen
• Rust Bullet Australia
• Thomas Howse Ltd.
• Toa Chugoku Paints Pvt Ltd.
• Zigma Paints Pvt Ltd
What Is The Most Dominant Region In The Zinc Rich Coating Market?
North America was the largest region in the zinc rich coating market in 2024. 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.
