Anti-rust coating is a protective coating used to shield metal parts from damage of a range of natural or industrial contaminants due to heat, corrosion, salt spray, and oxidation. It serves as a chemical compound, which is used for automotive undercarriage. The global underbody anti-rust coatings industry is currently witnessing robust development, due to surge in demand for anti-rust coatingsfrom customers. Structural elements of the underbody are painted to provide a first line of corrosion protection. Anti-rust coatings help prevent the rusting of iron and steel artifact, thereby offering permanent corrosion safety. This coating also is further applicable in wheel wells and trunks. Anti-rust coating prevents interaction with chemical or corrosive materials. These coatings are applicable in vehicles used by transport companies, and are used to protect a pavement by creating a barrier between the metal and its exterior atmosphere.
Key drivers of global underbody anti-rust coatings market
Surge in use of underbody anti-rust coatings in the paint & coating, automobile, and marine industries is driving the growth of the underbody anti-rust coatings demand. Maintenance & protection in every automobile is of utmost importance to ensure the vehicle's prolonged service life, thereby preventing rusts and deterioration of metals used in the automotive manufacturing process. Thus, all these factors collectively are anticipated to fuel the demand for underbody anti-rust coatings, thereby driving the global market growth.
Market scenario: opportunities and challenges
Increase in urbanization has led to rise inautomobile activities, resulting in a surge in demand for underbody anti-rust coatings from the coating industries. Renowned manufacturers ofunderbody anti-rust coatings are currently implementing technologically advanced production processes to increase the efficiency of production and optimize product offerings. The growth of the global market for anti-rust coating is driven by rise in demand foranti-rust coatingin various sectors such as naval, infrastructure, transportation, and aerospace & defense. Owing to the strong demand for anti-rust coating in shipbuilding and boat fixing, the marine is one major consumers of anti-rust coating, which significantly contributes toward the growth of the global market. Implementation of stringent environmental legislation about the use of chemicals for coating, however, is expected to remain as a single major challenge for the underbody anti-rust coatings, thus inhibiting the growth of the global market.
COVID-19 scenario analysis
The global underbody anti-rust coatings market is expected to witness slowdown during the forecastperiod, owing to the outbreak of the COVID-19 pandemic. Alarming surge in cases of COVID-19 is predicted to have a long-term effect on the demand for underbody anti-rust coatings. Disruption of the supply chains in key regions is further expected to impact the demand due to global economy instability. Moreover, as workforce is becoming highly susceptible to infection, governments are imposingmovement restrictions, thus leading to production shutdown. The effect of pandemicis expected that reduced demand from the automotive and marine industries, which may exert pressure on the market for underbody anti-rust coating.
Key benefits of the report
- This study presents the analytical depiction of the global underbody anti-rust coatings industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global underbody anti-rust coatings market share.
- The current market is quantitatively analyzed to highlight the global underbody anti-rust coatings market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global underbody anti-rust coatings market research report:
- Which are the leading market players active in the global underbody anti-rust coatings market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Underbody Anti-rust Coatings Market Report Highlights
By Vehicle Type
Key Market Players
Usha Chemical Company, KATS Coatings, ThreeBond International, Inc., DuPont, Automotive International Inc., UPBEAT TECHNOLOGIES, 3M, Chem-Verse Consultants (India) Private Ltd., Guangzhou Carelay Paints & Coatings Co. Ltd., Sunstar Engineering Americas