Global Potable Water Tank Coatings Market - 2020-2027
The potable water tank coating is the protecting layer used in the water tank to protect it from corrosion or any other chemical reaction. Moreover, the coating's importance is to protect it from structural corrosion, maintain the vessels' appearance, provide a safe environment, and are mainly used in residential and housing infrastructure.
The global potable water tank coatings market is estimated to reach USD XX billion by 2027 from the recorded market size of worth USD XX billion in 2019, growing at a CAGR of XX% during the forecast period.
The growing demand for clean water and construction is expected to boost the potable water tank market in the forecast period. The attractive appearance drives the potable water tank coating market, which resists the chemical reaction of solvents such as water, soils, sea condition environment resistance, and resistance to impact while in transit are some of the significant factors to increase the growth of the global portable water tank coating market in the forecast period.
However, corrosion and fouling are the main problems faced by ships, water storage tanks and others. Moreover, corrosion makes the coating weak and directly affects the life of the material. In addition, fouling is not only applied to the exterior; it is applied to the interior also. Fouling is applied on the exterior surface that does not remain adhesive to the exterior, but some are mixed with the water and harms the living species.
By type, the market is segmented into phenolic epoxy paint, pure epoxy paint, solvent-free paint, others. By application, the market is segmented into ship, marine, pipeline, water storage tank, and others.
Phenolic epoxy coatings offer consistent, high-quality corrosion protection for many applications, including immersion service for most acids, solvents, and salts. Moreover, it is chemical resistant and typically used for low pH environments and higher temperatures. The phenolic coating has excellent chemical resistance to 92% - 98% sulfuric acid at elevated temperatures up to 120°F and resistant to hydrochloric acid, phenol, anhydrous chlorobenzene, carbon tetrachloride, and many other chemicals. The phenolic epoxy coatings are expected to boost the market growth in the forecast period.
North America is expected to dominate the potable water tank market in the forecast period. It is the fastest-growing market due to the increase in demand across countries such as U.S and Canada. The Asia Pacific is holding the largest market share of the potable water tank market in the forecast period, including developing countries like China, Japan, India, and Korea. South America is also a significant linear growth in the market and creates a favorable environment for potable water tank coatings. Simultaneously, projects significant development in countries like Germany, the U.K, France, Italy due to the high demand for potable water tank coatings market. The countries like Middle East, Africa, GCC will also anticipate the potable water tank coating market in the coming years.
The potable water tank coatings market is fragmented with the presence of global and regional players. The competitive outline lies with the increase in the regional company and growing investment in upstream application. AkzoNobel, Jotun, Hempel, PPG Industries, Chugoku Marine Paints, BASF, Nippon Paint, KCC, Sherwin-Williams, RPM International are the major player in the potable water tank coating market. The major players are using several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the potable water tank coatings market globally.
PPG product PSX topcoats are proven to perform in countless applications around the globe. PSX 700 coatings mix epoxy corrosion resistance with a urethane topcoat finish that looks better, lasts longer, and makes recoating easier than other topcoats. Moreover, PSX ONE is the next generation siloxane coatings, features superior color and gloss retention in a single component product with the last longing. It also provides a full range of tank lining products such as SIGMAGUARD™ CSF 650 that meet the requirements. For instance, the scorcher roller coaster at Atlanta's Six Flags® Theme Park soars 107 feet high and exceeds speeds of 50 mph, challenging thrill-seekers who must ride standing up! Its sheer enormity, constant vibration, and the need for enduring color vibrancy with minimal downtime present a unique coatings challenge, too. PPG is up to the task.
Furthermore, AMERCOAT®, SIGMA COATINGS®, and PSX 700 products are used for carbon steel structures like the Scorcher, bridges, pipelines, and other civil and industrial projects, protecting infrastructure guard against corrosion, and apply more efficiently, all while providing brilliant aesthetics.