The concept of service protection services entails crack sealing, sealcoating, pothole repair, striping, asphalt paving, concrete repair through construction. In a published report by Research Report Insights, the global demand for surface protection service is likely to witness a steady growth throughout the forecast period, 2024.
Volatile organic compound (VOC), which is used in coating products, is limited by the government rules in European and North American countries. Henceforth, the manufacturers are bounded to maintain the sustainability while producing any product related to the market, which is predicted to be a latest trend. Owing to this trend and governments regulations, multiple R&D undertakings have been initiated by the companies to manufacture products that are less-costly. Besides, manufacturing of products that are eco-friendly will create many opportunities in the global market for surface protection services.
Global Surface Protection Services Market: Segmentation
The report is analysing and forecasting the rapid expansion of global surface protection services market on the basis of their product types, applications and regions.
The different types of products of global surface protection services market includes corrosion protective coating systems, ceramic & brick lining, thermoplastic lining, corrosion protective rubber lining, acid proof lining and tile lining. In the global market for surface protection services, the corrosion protective coating systems has the largest share from sales. By the end of 2027, the sales rate in this segment is anticipated with a gain of 30 BPS and also expected to bring in more than US$ 6 billion revenue.
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Surface protection services are applied in various aspects, include pipelines, collection basins & tanks, process vessels, equipment & rigs and others, such as incinerators, water treatment, etc. On the basis of applications, surface protection services are likely to experience a high demand through research & development undertakings. Among all the sub-segments based on applications of surface protection services, equipment & rigs and process vessels are the two most significant segments that shares approximately 45% of revenue in the global surface protection services market over the years to come. In addition, it is also predicted that this segment will also gain a substantial sales in the approaching years.
Based on the geography, the global surface protection services market has expanded in seven regions robustly. Regions are Asia-Pacific excluding Japan (APEJ) , Latin America, Japan, North America, Eastern Europe, Middle East & Africa (MEA) and Western Europe. As per the study, the APEJ region has achieved 90 BPS from 2012-2017, whereas this region is expected to increase at 200 BPS during the forecast period. The demand for petroleum products is increasing rapidly owing to the huge funding in countries, such as India and China in APEJ region, which acts as a driver in the market for surface protection services in this region.
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The study is also profiling some key players that are involved in production of surface protection services in the global market. Through 2027, companies namely, Integrated Protective Coating, Delta T & Proptective Products, Aegion Corporation, Dampney Company, T.F. Warren Group, Blair Rubber Co., Spence Corrosion Services Ltd., Applied Rubber Linings Ltd., Moon Fabricating Corporation, Wasser Corporation, 3M, Hempel A/S, Carboline Company, Shawcor, Corrosion and Abrasion Solutions Ltd., Hajjan Trading & Industrial Services Company Ltd., PPG Industries, Viking Conveyor, and Abtrex Industries Inc., among others, are expected to remain active in the market’s expansion.