Transparency Market Research recently published a report that detailed the high performance anti-corrosion coatings market and their forecast for the next 7 years. The report underlined a 2014 high of US$11.95 billion, while expecting a compound annual growth rate (CAGR) 4.8 percent between 2015 and 2023, culminating in a US$18.22 billion market by 2023.

The driving force for future growth seems to be predicated on rising demand from marine, power generation, construction, oil and gas and other industries. The coating is widely used in the oil and gas industry, especially in coating applications.