Acid Proof Lining Market REPORT OVERVIEW
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The global acid proof lining market size was USD 3941 million in 2022 and is projected to touch USD 5577.7 million by 2031, exhibiting a CAGR of 3.9% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, acid proof lining experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Acid proof lining is utilized in a variety of industries, including thermal power stations, petrochemical sectors, pharmaceutical, and food industries, among others. It is necessary in chemical reactor locations when the process temperature exceeds 125 degrees Celsius. It is also employed in locations where organic solvents or substances in significant combination with other acids are present. Furthermore, chemical process plants that use acid or corrosive substances should use acid proof liner solutions. The acid proof lining is extremely resistant to heat, chemicals, shock from heat, and mechanical stress.
The market continues to grow due to fast increase in industry, chemical, and metallurgy. Additionally, rising electricity production and additional variables are contributing to the market's expansion.
COVID-19 Impact: Interruption in Services to Deplete Market Growth
COVID-19 pandemic marked an unexpected watershed moment in the petroleum, natural gas, and chemicals sectors. The combined effects of the COVID-19 pandemic related economic slump and the oil price drop echoed throughout these businesses, which were already dealing with difficult long-term trends. The market growth suffered majorly due to the interruption in services and supply chain barriers. However, with the recent development and the ongoing technological advancements activities will further boost the market during the anticipated timeframe.
LATEST TRENDS
"Thermal Shock Resistance to Stimulate Market Development "
Thermal shock resistance becomes an important consideration while selecting acid proof liner. When conveying abrasive materials, the inner sides of pipes or similar conveyor facilities wear down. Sudden temperature variations complicate matters by putting excessive physical strain on the things to be transported. Lining materials are used to make the pipes shockproof, preventing them from experiencing high loads that could lead to breaches in their design. Because they are resistant to chemicals, extreme temperatures, stress from force, and variations in temperature, thermoplastic linings offer an advantage over the competition.
Acid Proof Lining Market SEGMENTATION
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- By Type
Based on type; the market is divided into ceramic & carbon brick lining, tile lining, thermoplastic lining.
Ceramic & carbon brick lining is the leading part of the type segment.
- By Application
Based on the application; the market is divided into marine, oil and gas, power generation, construction, automotive, transportation, chemicals, mining & metallurgy, others
Marine is the leading part of the application segment.
DRIVING FACTORS
"Growth of Food Sector to Aid Market Expansion "
Acid-resistant tiles and bricks are extensively used in the food processing sector due to their corrosion protection, greater breaking strength, stronger bonding, solvents resistance, and numerous other features. With a growing growth of the food sector around the world, interest in acid proof lining is expected to expand during the assessment period. The market will likely expand significantly due to the development of new coating technologies.
Furthermore, the market is expected to witness significant development opportunities as a result of rising international economies and limited rivalry pressure as a result of a constant rise of requests for corrosion-protective coatings. The marketplace has recently witnessed a substantial shift from solvent-borne to waterborne technologies.
"Petrochemical Industries to Foster Industry Progress "
Over the projection period, the petrochemical end-user sector will generate the most revenue possibilities for the market. The transfer of volatile substances and petrol in the oil and gas sector requires a good piping system that can withstand a variety of external variables. The incorporation of the chemical lining gives resistance to a variety of conditions, protecting pipes and reducing future loss. Petrochemical companies are placing acid resistant coatings on existing pipelines to prevent additional damage.
RESTRAINING FACTORS
"Cost of Manufacturing the Finished Product to Limit the Market Evolution "
However, various constraints are limiting the worldwide acid proof lining market growth. The cost of manufacturing the finished product is expensive, which will either cause market setbacks or growth. Furthermore, the availability of various low-cost alternatives is projected to stifle the market expansion.
Acid Proof Lining Market REGIONAL INSIGHTS
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"Rising Industrialization in Asia Pacific to Support Market Advancement "
The worldwide acid proof lining industry has been separated into four regions: North America, Asia Pacific, Europe, and the Rest of the World. Asia Pacific will control the majority of the acid proof lining market share. Developing nations such as India, Russia, China, and others are displaying huge market growth potential. Because of rising industrialization, the amount of manufacturing facilities in the Asia Pacific area is expanding, which will provide a significant boost to the development the global acid proof lining market.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Koch Knight (U.S.)
- Polycorp (U.S.)
- Steuler-KCH (Germany)
- Jotun (India)
- Hempel (Denmark)
- Axalta Coating Systems (China)
- Ashland (U.S.)
- Sherwin-Williams (U.S.)
- PPG Industries (U.S.)
- BASF Coatings (Germany)
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 3941 Million in 2022 |
Market Size Value By |
US$ 5577.7 Million by 2031 |
Growth Rate |
CAGR of 3.9% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the acid proof lining market expected to touch by 2031?
The global acid proof lining market size is expected to reach USD 5577.7 million by 2031.
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What CAGR is the acid proof lining market expected to exhibit by 2031?
The acid proof lining market is expected to exhibit a CAGR of 3.9% by 2031.
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Which are the driving factors of the acid proof lining market?
The driving factors of the acid proof lining market are growth of food sector and petrochemical industries.
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Which are the key players or most dominating companies functioning in the acid proof lining market?
Koch Knight, Polycorp, Steuler-KCH, Jotun, Hempel are the key players or most dominating companies functioning in the acid proof lining market.