The surface protection services industry revolves around an assortment of strategies designed to shield surfaces from deterioration and damage caused by a multitude of factors. Coatings, sealants, and other protective agents are applied to surfaces ranging from floors to walls and ceilings, establishing a strong defense against moisture, filth, and pollutants. These services, which are widely used in industrial and commercial areas, are critical in environments subjected to harsh circumstances and considerable foot traffic. Furthermore, they perform an equally important role in domestic settings, ensuring that floors and diverse surfaces are resistant to the wear and tear of modern living.
Product Type – Corrosion Protective Coating Systems Dominate Other Product Types
The corrosion protective coating systems market is expected to rise by 30 BPS by 2027, dominating the surface protection services sector. Corrosion protective coating methods form a chemical link with the substrate, and less surface oxidation is preferable. As a result, corrosion promoters like moisture and oxygen can penetrate the coating just like conventional paints. When compared to other product types, corrosive protective coating systems provide double layer protection for mild steel and are widely employed in the surface protection services business. The corrosion protective coating systems market is estimated to exceed US$ 6 billion by the end of the forecast period.
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Application – Huge Gains in Process Vessels, Equipment & Rigs Application Segment
The process vessels, equipment & rigs segment has a market share of approx. 45% of the surface protection services market in terms of application and is poised to gain significant share going forward. NACE estimates that the cost of corrosion protection as a result of constructing new ships is more than US$ 7 billion every year i.e. almost 10% of the vessel’s total cost. Annual repairs & maintenance cost on account of corrosion is approx. US$ 5.5 billion with an additional US$ 5 billion in downtime. For process vessels & equipment built with reduced scantlings, it is vital that coating systems be property maintained. All of this is likely to boost the need for surface protection services in process vessels, equipment & rigs.
Region – APEJ and MEA Race Ahead in Surface Protection Services Market
The APEJ region is projected to gain a massive 200 BPS by the end of the decadal study and has gained 90 BPS from 2012 to 2017. Huge investments in China and India to fuel the demand for petroleum products are the major factors driving the APEJ surface protection services market. For e.g. – Indian Oil Corporation plans to double its refining capacity to 150 million tonnes by 2030 to cater to the explosive energy demand in the second most populous nation. IOC has also signed an agreement with BPCL and HPCL to build the world’s largest refinery at Ratnagiri in the state of Maharashtra at a cost of US$ 40 billion.
Competition Dashboard in the Global Surface Protection Services Market
Companies profiled in the report are Shawcor, Corrosion and Abrasion Solutions Ltd., PPG Industries, Dampney Company, Delta T & Proptective Products, Blair Rubber Co., Integrated Protective Coating, Abtrex Industries Inc., Applied Rubber Linings Ltd., T.F. Warren Group, Viking Conveyor, Wasser Corporation, 3M, Moon Fabricating Corporation, Hajjan Trading & Industrial Services Company Ltd., Spence Corrosion Services Ltd., Hempel A/S, Aegion Corporation, and Carboline Company.
Key Takeaways
The surface protection services market is brutally competitive and small players often struggle to make their mark. Therefore, innovation is essential to gain a competitive edge and to take advantage of growth opportunities. Companies can look at coatings that are environmentally friendly and have low VOC content to thrive in the surface protection services market.
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Key Segmentation
Product Type
- Corrosion Protective Rubber Lining
- Corrosion Protective Coating Systems
- Acid Proof Lining
- Ceramic & Brick Lining
- Tile Lining
- Thermoplastic Lining
Application
- Process Vessels, Equipment & Rigs
- Collection Basins & Tanks
- Pipelines
- Others (water treatment facilities, incinerators, etc.)
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
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