Corrosion Protection Rubber Linings and Coatings Market Plying for Significant Growth During 2022
Posted: Nov 03, 2017
According to a latest research by Future Market Insights (FMI), the global market for corrosion protection rubber linings and coatings will register a healthy expansion during the forecast period (2017-2022). The global corrosion protection rubber linings and coatings market is estimated to account for nearly US$ 12,000 Mn revenues by 2022-end.
Hard Rubber Lining Systems will Remain Preferred in the Market
Hard rubber lining systems are expected to remain preferred among products, with sales projected to account for nearly two-third revenue share of the market during 2017 to 2022. However, soft rubber lining systems’ sales are anticipated to reflect a comparatively higher CAGR than that of hard rubber lining systems through 2022.
Sales of corrosion protection rubber linings and coatings in marine, and construction end-use sectors are expected to collectively account for over one-third revenue share of the market in 2017. These end-use sectors will witness a rise in their market share through 2022. In addition, oil & gas is expected to remain the fastest growing end-use sector in the market, with sales poised to account for nearly US$ 2,000 Mn in revenues by 2022-end.
Key market players included in FMI’s report include The Sherwin Williams Company, STEULER – KCH GmbH, PPG Industries, Inc., Polycorp Limited, Koch Knight LLC, Jotun A/S, BASF SE, Axalta Coating Systems, Ashland Global Holdings, Inc., and Akzo Nobel NV.
Industrial Facilities built from Carbon Steel at High Risk of Corrosion
Global leading manufacturers of corrosion protection rubber linings and coatings are making heavy investments in research and development activities, in a bid to develop new techniques for complete prevention of corrosion. Various industrial facilities, ranging from processing equipment, water treatment plants, oil & natural gas tank farms, to pipelines, are at huge risk of corrosion, especially the ones whose structures are made of carbon steel. This is mainly because carbon steel is highly prone to corrosion, which has resulted into production downtime, and repair & replacement activities.
Several proactive industries are therefore moving beyond traditional techniques that are only capable of slowing down the corrosion. The industries are further shifting towards adoption of novel techniques, which enable complete prevention from corrosion, thereby minimising cost, and production downtime needed to replace, repair, or recoat the corroded equipment or material. According to World Corrosion Organisation, over 3% of world’s GDP is spent on corrosion-related activities across the globe annually.
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