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The growing activities in the oil & gas sector is growing the demand for protective coatings which is estimated to grow the Chemical Resistant Coatings Market.

HYDERABAD, TELANGANA, INDIA, December 23, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Global Chemical Resistant Coatings Market size is forecast to reach US$8.3 billion by 2026, after growing at a CAGR of 5% during 2021-2026. Chemical resistant coatings are designed to protect against the harshest of chemicals. Various types of chemical resistant coatings such as epoxy, fluoropolymer, ethylene tetrafluoroethylene, and fluorinated ethylene propylene are provided excellent corrosion protection, cost-effectiveness, friction protection, impact resistance, and corrosion-resistant. Due to such properties these coatings are widely used in food & beverages, oil & gas, construction, water treatment, and rubber manufacturing which is growing the chemical resistant coatings market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Chemical Resistant Coatings Market highlights the following areas -

1. The Asia Pacific dominates the global chemical resistant coatings market due to the increasing consumption of chemical resistant coatings from various end-use industries such as oil & gas, construction, marine, and others in developing Asian countries such as India and China.

2. Various coatings such as fluoropolymer, ethylene tetrafluoroethylene, and fluorinated ethylene propylene are used on tanks and metal components. These coatings can withstand high temperature and provides excellent corrosion resistance which is growing the demand of such coating in the market.

3. Additionally, solvent-based coatings technology has superior properties such as flexibility and versatility of coating, thus; these can be designed as high-quality architectural coatings where superior flow and leveling are required and other industrial applications.

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Segmental Analysis:

1. Solvent-based held the largest share of the global chemical resistant coatings market in 2020. Solvent-based coatings technology can be applied directly sprayed or brushed for the floor coatings. Solvent-based technology has various properties such as the popularity of stains, sealers, and high-gloss paints, thus; it is widely used in the architectural industry for paints. Hence, owning to aforementioned factors solvent-based technology led the chemical resistant coatings market.

2. Asia Pacific dominated the global chemical resistant coatings market in 2020 with a share of 30%, due to the increasing demand from various end-use industries such as food & beverages, construction, oil and gas, and others in Asian countries such as India, China, and others which are estimated to grow the demand for chemical resistant coatings.

3. Epoxy coatings type dominated the global chemical resistant coatings market in 2020 followed by polyurethane coatings as they offer excellent impact resistance, corrosion resistance, and abrasion resistance. Epoxy coatings offer excellent barrier protection from alkali and caustic solutions, and other harsh chemicals.

4. Oil and gas dominated the global market of chemical-resistant coatings in 2020 and is growing at a CAGR of 5.2% during 2021-2026. Chemical resistant coatings such as fluoropolymer is used as a top coating that can extend component life and offer excellent corrosion protection of offshore tanks.

Competitive Landscape:

The top 5 players in the Chemical Resistant Coatings Industry are -

1. Wacker Chemie AG
2. BASF
3. Sika AG
4. Metal Coatings Corp
5. ITW Polymers Sealants

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Related Reports:

A. Marine Coatings Market
https://www.industryarc.com/Report/11726/marine-coatings-market.html

B. Abrasion Resistant Coatings Market
https://www.industryarc.com/Report/16520/abrasion-resistant-coatings-market.html

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