International. A recent study by Transparency Market Research (TMR) has found that the global high-performance anticorrosive market is moderately consolidated with four companies accounting for 59.7% of the shares in 2014.
These four companies are Nippon Paint Co., Ltd., Akzo Nobel NV, The Sherwin-Williams Company, and PPG Industries Inc. These brands, as well as other prominent players, actively indulge in strategic collaborations with domestic suppliers and expand their production facilities in order to maintain their stronghold.
The TMR report assesses that the global high-performance anticorrosive coatings market was worth US$11.94 billion in 2014 and estimates that it will reach a valuation of US$18.22 million by the end of 2023, increasing to a CAGR of 4.8% during the forecast period, from 2015 to 2023.
This expansion in demand is a reflection of the prosperity of infrastructure development in several emerging economies, which has opened up opportunities for stakeholders in the high-performance anti-corrosion coatings market.
A significant portion of the demand for this market is served by oil and gas drilling and exploration activities across the globe. This type of coating helps in the maintenance of industrial equipment, improves the useful life of metal surfaces and helps prevent damage.
