The anticorrosion coatings market size was valued at US$ 24.83 billion in 2022 and is expected to reach US$ 38.17 billion by 2030; it is estimated to register a CAGR of 5.5% from 2022 to 2030.

The expanding industrial sector, particularly in oil and gas, petrochemicals, power generation, and water and wastewater treatment, propels the demand for anticorrosion coatings. The oil & gas industry is a major contributor to the growing anticorrosion coatings market size. With the presence of large oil reserves in countries such as Saudi Arabia, Iraq, Iran, and the UAE, there is a continuous need for corrosion protection in pipelines, storage tanks, offshore platforms, and refineries. The harsh environmental conditions in the region, such as high temperatures and humidity, further increase the demand for effective anticorrosion coatings. The demand for high-performance coatings has escalated significantly across the global as it is a global hub for oil & gas production. The global anticorrosion coatings market size is likely to surge by 2030 owing to the strong growth of the building & construction industry.

Major factors contributing to the growing anticorrosion coatings market size is the strong presence of oil & gas industry. Various countries in the Middle East play a vital role in global oil production. Saudi Arabia, Iran, the UAE, and other oil-producing countries in the region comprise many of the largest oil producers. Presence of oil reserves plays a crucial role in the economic growth of different countries in the region, as most of their income depends on the oil industry. According to the Organization of the Petroleum Exporting Countries, Saudi Arabia possesses around 17% of the world's proven petroleum reserves.

Based on resin type, the market is segmented into epoxy, polyurethane, acrylic, alkyd, vinyl ester, and others. The epoxy segment accounts for the largest anticorrosion coatings market share. Epoxy anticorrosion coatings, formulated with epoxy resins as their primary constituents, belong to the class of thermosetting polymers, imparting robustness and durability to the protective layer they create. Deployed across diverse industries such as oil & gas, maritime, automotive, and infrastructure, epoxy anticorrosion coatings serve as a frontline defense mechanism for metal surfaces. The application process involves the precise amalgamation of epoxy resins with curing agents, resulting in a chemically resistant and adhesive compound.

In 2022, the Middle East & Africa held a significant anticorrosion coatings market share. The demand for high-performance coatings has escalated significantly in the Middle East as it is a global hub for oil & gas production. According to the National Iranian Oil Company, Iran has ~158 billion barrels of crude oil reserves. As per the data from Gachsaran Oil & Gas Production Company, the oil field , which has been in operation since 1930, currently produces 650,000 bpd (Barrel Per Day) of oil. The market in the Middle East has undergone substantial expansion in recent years owing to the region's dynamic industrial landscape and burgeoning infrastructure projects. The continuous development of oil & gas facilities, pipelines, and marine structures has upsurged the need for advanced anticorrosion coating solutions. The global anticorrosion coatings market size is likely to increase by 2030 owing to the strong growth of the building & construction industry.

RPM International Inc, The Sherwin-Williams Co, Akzo Nobel NV, Jotun AS, PPG Industries Inc, 3M Co, The Progressive Center Co for Construction Chemicals Ltd, Nippon Paint Holdings Co Ltd, BASF SE, and HB Fuller Co are among the prominent players profiled in the anticorrosion coatings market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The anticorrosion coatings market study also includes company positioning and concentration to evaluate the performance of competitors/players operating in the market.



The overall global anticorrosion coatings market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the anticorrosion coatings market.