Increasing demand for poultry & seafood, bakery & confectionery, dairy, meat, and grains across the globe is projected to expand the food processing industry.
The global acid proof lining market is anticipated to reach a valuation of US$ 11,896.7 Mn by 2032, with sales growing at a positive CAGR of 6.2% from 2022 to 2032. Scaling up from an estimated value of US$ 6,519.0 Mn in 2022, the acid proof lining market is driven by increasing application in industries like petrochemical plants, food processing facilities, thermal power plants, and pharmaceuticals. The swift advancement of the metallurgy and chemical sectors coupled with rapid industrialization also contribute to the growth of the acid proof lining market during the forecast period.
Due to the extensive use of acid or corrosive chemicals in chemical processing facilities, there high demand of acid proof lining in such facilities all over the world. Acid-proof coating is highly resistant to chemicals, heat, thermal shock, and mechanical pressure which is contributing to the growing popularity of the target market. Furthermore, heightened demand for poultry & seafood, bakery & confectionery, dairy, meat, and grains worldwide is likely to augment the food processing industry.
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This results in a surge in the sales of the target product as many organizations install new food processing equipment by using acid-proof lining to increase durability, quality control, and maintain preservation, and hygiene. Substantial chemical exposure in food processing industries also leads to extensive use of acid-resistant tiles and bricks owing to their corrosion protection, greater tensile strength, excellent bonding, solvent resistance, and other features. This, too contributes to the growing demand for acid proof lining during the assessment period.
Moreover, in the recent years, many manufacturers are introducing innovative piping systems with an emphasis on inner coatings of pipelines. These coatings play a crucial role in the safe transportation of petroleum or other compounds in the oil and gas industry. Thus, new pipelines in the oil industry have acid-proof liners implemented in them to protect against corrosion. Again, as a part of the rehabilitation process for deteriorated pipelines acid-resistant coatings are used. Owing to all of these factors, the global oil and gas industry has continued to act as a primary growth driver for the acid proof lining market.
"Heightened use of acid proof lining in oil & gas and food processing industries is expected to drive the global growth of the acid proof lining market over the forecast period," says an FMI analyst.
Key Takeaways:
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Competitive Landscape
Sherwin-Williams Company, PPG Industries, BASF SE, Ashland Inc., Axalta Coating systems Ltd., Hempel A/S, Jotun Group, Steuler-KCH GmbH, Polycorp Ltd, and Koch Knight LLC among others are some of the major players in the acid proof lining market profiled in the full version of the report.
Leading market players are focusing on entering markets in emerging economies to expand their market presence. These businesses are employing tactics like mergers, partnerships, and acquisitions to meet consumer demands.
More Insights into Acid Proof Lining Market Report
In its latest report, FMI offers an unbiased analysis of the global acid proof liningmarket, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (ceramic & carbon brick lining, tile lining, thermoplastic lining), form type (solvent-borne, water-borne, powder-based), end user (marine, oil & gas, power generation, construction, automotive, transportation, chemicals, mining & metallurgy, others), and region.
According to the latest FMI reports, based on segmentation, thermoplastic lining segment is predicted to gain momentum over the forecast period. On the basis of end user, oil & gas industry is predicted to contribute the most to the target market growth due to its extensive use of acid proof tiles for the transportation of petroleum.
Based on region, the United States is predicted to be one of the largest acid proof lining markets. The country is likely to account for 15.1% of the overall market share in the upcoming years. Heightened import of oil & gas results in the substantial growth of the regional market over the projected period.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jan 25, 2023
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