Global Acid Proof Lining Market to Extent an Assessed Value of US$ 800 Mn by 2022
Posted: Jul 12, 2019
With quality workmanship and proper installation, processing vessels, pipeline or floorings surface-coated with acid proof linings can prevent incidence of industrial failures caused from corrosive damages. A recent study published by Future Market Insights forecasts a steady growth in demand for acid proof linings for the next five years. During the forecast period, 2017-2022, the global market for acid proof linings is assessed to grow at a steady CAGR of 5.1%.
Durability of acid proof linings will continue to boost their demand across multiple industrial vectors in the near future. End-users are adopting proper maintenance programs to ensure these linings continue to withstand changing severities of external factors such as heat, fire, temperature change, and mechanical shocks. By the end of 2022, the global acid proof lining market is poised to reach a value of US$ 5.57 Bn.
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Thermoplastic Linings will bring in US$ 2.7 Bn in global revenues by 2017-end
Manufacturers of acid proof linings are shifting towards adoption of thermoplastics as these raw materials are easy to shape and can be moulded into all shapes upon application. Likewise, thermoplastic linings can be installed on a variety of surfaces, including metal. Unlike other products available in the global acid proof lining market, these liners hold unique resistivity, one which can endure high temperatures, drastic thermal fluctuations, and mechanical stress. In 2017, the sales of thermoplastic linings is anticipated to rake approx. US$ 2.7 Bn in global revenues.
Changing dynamics of acid proof lining manufacturing
With increasing demand for thermoplastic linings, manufacturers are likely to adopt innovative techniques to facilitate large scale production. Strict emission norms play a governing role on the manufacturing purview of acid proof linings. Solvent-borne form of acid proof linings continue to face the brunt of stringent industrial regulations that constrain the production of chemicals with high VOC emissions. Waterborne acid proof linings, on the other hand, will witness a considerable uptick in adoption owing to their eco-friendly characteristics. Between 2017 and 2022, waterborne acid proof linings sold across the globe will create an absolute dollar opportunity of close to US$ 590 Mn.
Companies namely, Polycorp Ltd., Koch Knight LLC, Jotun A/S, Steuler-KCH GmbH, Axalta Coating Systems Ltd., Hempel A/S, The Sherwin-Williams Company, Ashland Global Holdings Inc., BASF Coatings GmbH, and PPG Industries, Inc. are anticipated to remain active in the global acid proof lining market through 2022. These companies will be focusing on adoption and development of new technologies, which may give rise to innovative lining materials. Strong chemicals used in production of acid proof linings will also keep these players under the close radar of environmental agencies strictly monitoring the contribution of such manufacturers to global industrial waste volumes.
Additional insights on future of acid proof lining market
The report also forecasts that,
During the forecast period, Asia-Pacific excluding Japan (APEJ) region will remain the largest market, and will reach US$ 2 Bn valuation by 2022-end, primarily due to higher contribution in global production of acid proof linings
Europe’s acid proof lining market will expand at a moderate CAGR during this period
Middle East & Africa and North America will record similar and steady growth rates over the forecast period, and will be observed lucrative for sales of acid proof linings
Oil & gas industry will be the most crucial end-user for acid proof linings, revenues from which are expected to touch US$ 800 Mn by the end of forecast period
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