Market Leader- PPG and Akzonobel Leading the Anti-Corrosion Coating Market

The anti-corrosion coating industry is a rapidly evolving market. Currently, the anti-corrosion coating market is dominated by a few key players, such as PPG (U.S.), AkzoNobel (The Netherlands), Sherwin-Williams (U.S.), BASF (Germany), Axalta Coatings (U.S.), COSCO Kansai Paints (Japan), Jotun coatings (Norway), Ancatt (U.S.) and so on. These companies are market leaders in specific geographic areas in terms of sales. For instance, Jotun is the market leader in the Middle East while PPG and AkzoNobel are the market leaders in Asia-Pacific The anti-corrosion coating companies are focused on developing new products that are highly environment friendly and have better performance capability. The competition is high in the anti-corrosion coating market and the companies are seen to be competing through capacity expansion of anti-corrosion coating to achieve economies of scale, product innovation, and geographic expansion in order to capture and improve the market share.

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Market players are concentrating on developing new variants of anti-corrosion coating with better performance qualities and according to the evolving environmental regulations. The anti-corrosion coating producers are focusing on developing new technologies and product developments. The industry has observed a shift from from the production of solvent borne coatings to water borne coatings. The major R&D initiatives are for reducing the harmful VOC emissions in the coatings while maintaining and simultaneously improving upon the quality and performance. The companies are investing in the setting up of new facilities, mainly in emerging regions; they are also trying to increase their global presence to address the growing demand in the emerging markets. All these developments are a reaction to the increasing demand for anti-corrosion coating applications in emerging regions with high development rate.

New product developments have dominated the strategies adopted by the key anti-corrosion coating manufactures in the recent past.PPG Industries (U.S.) and Jotun Coatings (Norway) have been the most active players in the anti-corrosion coating market.

Anti-Corrosion Coating Market Share, by Region, 2013

 

Developing new product variants of anti-corrosion coating has been the most used strategy by the players in the anti-corrosion coating market. Between 2009 and 2014, over 50% of the developments in the market are about the launch of new products.

Further, the leading market players are focusing on collaboration, capacity expansion, and merger & acquisition to create awareness about the benefits of anti-corrosion coating and cater to the customer’s needs.

The market leaders have adopted different strategies for the developed and developing countries. In developed countries, the demand is expected to be low as compared to the developing countries. This is due to high per-capita coating consumption in developed countries coupled with financial slump in investments. On the other hand, the emerging regions such as Asia-Pacific and The Middle East & Africa present huge potential for the anti-corrosion coating market as per-capita coating consumption is low.

Therefore, the strategy of the market players is focused on development of new products, expanding production capacities for the growth of the market in developed countries and to penetrate the emerging markets.