Global Acid Proof Lining Market: Overview
Acid proof linings have gained traction owing to its extensive use in several applications across many industries. It can thwart cases of industrial failures caused by corrosive damages. In addition, acid proof linings offer durability, which accentuates its demand across several industry verticals. The global acid proof lining market is likely to experience substantial growth over the period of assessment as several end users are taking up proper maintenance procedures to ensure durability of these linings.
The global acid proof lining market has been segmented on the basis of four parameters, namely end use, form, product, and region.
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Global Acid Proof Lining Market: Notable Developments
The global acid proof lining market has witnessed some developments in the last few years. One such significant development in the market is mentioned below:
- In June 2017, The Sherwin-Williams Company completed its acquisition of The Valspar Corporation. The latter has been a prominent manufacturer of coatings and paint. This acquisition is expected to create a topnotch brand portfolio, leading technology, broad range of products, and innovative platforms that would extend the global reach of the products, including acid proof lining products. Improved capabilities of the companies are anticipated to benefit the customers.
A few of reputed organizations that have made its presence noted in the global acid proof lining market are as mentioned below:
- The Sherwin-Williams Company
- Axalta Coating Systems Limited
- BASF SE
- Jotun Chemicals Company
- Ashland Global Holdings
- Hempel Group
Global Acid Proof Lining Market: Key Trends
The following drivers, restrains, and opportunities is expected to shape the future course of the global acid proof lining market during the study tenure, from 2019 to 2027.
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Resistance to Damage Caused by Acid and External Environmental Factors Boosts Demand
Acid proof lining resists the damage caused by acid in manufacturing and chemical industries and it protects infrastructure and equipment from dangerous exposure to acid. These linings come as coatings that safeguards fiberglass, structures of steel, concrete, and plastic piping against strong alkalis, solvents, and acids in various industries. These linings come with properties that will enhance mechanical strength of equipment used at various industries. Protection against increased temperature and mechanical abuse are one of many properties that make these linings popular. As such, the global acid proof lining market is likely to gather momentum from multiple use and properties of the lining product.
Acid proof lining help industries cut down on the maintenance cost of industrial equipment in the long term, which benefits growth of the global acid proof lining market in years to come. These linings prevent damage to equipment caused by external environmental factors like salt spray, oxidation, and moisture.
Rapid industrialization is another factor that is likely to support growth of the global acid proof lining market over the tenure of assessment. Industrialization brings accelerated manufacturing activities, which then deploy more of machineries and equipment to meet the increasing demand of the people and economy as a whole. According to the UN’s Industrial Development Report, global manufactured exports increased by 6.5%, from 2000 to 2015. The developing countries that are making rapid strides toward industrialization mostly drive such high manufacturing exports.
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Global Acid Proof Lining Market: Geographical Analysis
Middle East & Africa, Asia-Pacific, Europe North America, and Latin America are the key regional segments of the global acid proof lining market.
Asia Pacific is estimated to be a leading region for in the global acid proof lining market over the period of forecast. This is ascribed to the growing demand from the developing countries that are making accelerated efforts toward industrialization. Furthermore, many companies are relocating or opening up new setups in Asia Pacific region owing to lower cost of production and low cost of labor.
North America acid proof lining market is likely to experience considerable growth over the forecast period due to flourishing construction industry in the region. Additionally, increasing number of oil and gas exploration activities necessitate deployment of heavy machineries, which in turn is likely to fuel the regional market over the assessment period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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