Corrosion protective coatings are applied on the surface to prevent degradation from oxidation, chemical, and moisture. It creates a barrier between the environmental factors and the surface of the product that inhibit the corrosion of the surface. Zinc and titanium dioxide are commonly used for corrosion protective coatings. Acid-proof lining provides resistance to chemical, mechanical, and thermal stresses. Moreover, acid-proof linings are also used in the transition areas such as dry or wet and hot or cold.
The MENA Corrosion Protective Coatings & Acid Proof Lining market is estimated to be valued at US$ 2,445.5 million in 2021 and is expected to exhibit a CAGR of 5.1 % over the forecast period (2021-2028).
The growing emphasis of the government and consumers in the MENA area on promoting non-oil sectors is projected to be a significant driving factor in the MENA corrosion protection coatings and acid-proof lining market. Growth in substantial investment by regional entities in the construction of public infrastructure and manufacturing sectors for economic growth is expected to stimulate the market growth of the MENA corrosion protection coatings & acid proof lining.
Increased steel production in the MENA area is likely to drive corrosion protective coatings and acid-proof lining market development. According to the World Steel Association, the Middle East produced 38.5 Mt of crude steel in 2018, an 11.7 percent increase over 2017. Iran produced 25.0 Mt in 2018, an increase of 17.7 percent over 2017. As a result, increased steel production in the MENA area is expected to promote the growth of the corrosion protection coatings and acid-proof lining market.
Growing demand for industrial coatings due to an increase in the number of production facilities is likely to bring up new opportunities in the MENA corrosion protection coatings and acid-proof lining market. An increasing number of manufacturing sectors in key MEA nations such as Israel, Iran, South Africa, Egypt, Nigeria, Saudi Arabia, Algeria, UAE, and Qatar, which account for around 70% of regional GDP, and a current large number of regional coatings markets are likely to drive market expansion.