Acid Proof Lining Market Business Analysis 2022-2031: Comprehensive Growth Insights, Current Industry Trends, witness Highest Growing CAGR, New Developments, and Upcoming Technologies

Kenneth Research recently added a report on Acid Proof Lining Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that, Europe is the second largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years. In the year 2018, out of the top 10 chemical producing countries in the world, two countries belonged to Europe that generated a sales revenue of 19.1% of the total sales revenue globally. Moreover, the sales of chemicals in Europe grew from 2017 by 2.8% in 2018.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Acid Proof Lining Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The Acid Proof Lining Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.

Acid Proof Lining Market Overview
Acid proof lining act as restraints to the action of acid that are used in chemical and manufacturing industries to safeguard the equipment’s from hazardous chemicals and acids. They are the coatings that guard plastic fibers, steel structure and concrete from acids and alkalis in industries. It has acidic properties which increases the mechanical strength of the equipment. It also helps to save the material from mechanical abuse and high temperatures. These are used in several industries where floors and walls are constantly exposed to strong chemicals and acids. It also alleviates the cost by maintaining equipment for long term use. Acid proof lining safeguards the material from oxidation, moisture and salt spray and also a number of detrimental to metals and alloys. Industrial workshop and substrates require protection from mechanical thermal and chemical loads.

Market Size and Forecast
The global acid proof lining market has been segmented on the basis of geography which includes North America, Latin America, Europe, Asia Pacific and Middle East and Africa. The market is anticipated to expand at a CAGR of 3.2% in the year 2018-2027, of the total market. By material type, ceramic brick segment is expected to contribute 35% of the total market in terms of revenue and thermoplastics lining segment will attain 28% of the total market share by 2027. The global acid proof lining market is set to achieve the value of around USD 6 Bn by the end of 2027. By end user, the chemical industry segment is anticipated to grow at a fastest rate which is likely to contribute 34% of the total market by the end of 2027.

By geography, European region contributed significantly towards the growth of acid proof lining market in 2016. In Europe, Germany contributed substantially in the region in the same year.

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Asia Pacific is anticipated to remain the largest market by geography. The Asian countries such as China and India are observing significant growth in the market. The rapid industrialization in Asian-Pacific region especially in the countries that include China, India and japan are providing key opportunities for major players to establish themselves in the market. Huge investments in the industrial sector is also fostering the market growth.

Market Segmentation

By material type:
Carbon Brick Lining
Thermoplastics Lining
Tile Lining
Flouro polymer Lining
Ceramic Brick Lining

By technology:
Solvent-borne technology
Powder-based technology
Waterborne technology

By End user:
Energy and power industry
Construction industry
Automotive industry
Chemicals industry
Mining & metallurgy industry
Others

By Region
The acid proof lining market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis

Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.

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Growth Drivers and Challenges
The availability of low cost acid proof linings which include ceramic brick linings and robust growth in chemical, metallurgy and mining industry are some of the major growth drivers for the acid proof linings market. The expansion of mining industry and increasing economic growth across the globe will foster the market in future. The industries are now concentrating towards increasing the life of its mechanical equipment buildings and assemblies and also prevent them from acid and alkalis. The increase in the investment by some of the key players is also providing the base for the expansion of the market.

However there are certain restrains associated with it which includes high cost of manufacturing which leads to expensive final products is anticipated to hamper the growth of the market

KEY PLAYERS
BASF Coating GmBH
Ashland Inc
Polycorp Ltd.
PPG Industries Inc.
The Sherwin-Williams Company
Axalta Coatings Inc.
Hempel A/S
International Paint Limited
Jotun A/S
Steuler-KCH GmbH
TIP TOP Oberflachenschutz Elbe GmbH
Koch Knight LLC.

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