Future of South Africa’s Corrosion Protection Coatings & Acid Proof Linings Market

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South Africa’s heavy industries are a key attributor to the growth of the country’s stabilizing economy, which accounts for reportedly one-fourth of the GDP harvested from the entire African continent. For the government of the Republic of South Africa, safeguarding the qualitative production of its industrial sector becomes a top priority. Having one of the world’s largest mining industry compels South Africa’s government and administrative bodies to maintain the operational functioning of their mining companies. Constant exposure to volatile chemicals and materials corrodes the industrial surfaces for companies participating in South Africa’s mining industry. Furthermore, in a bid to save costs on machinery replacement, companies adopt less-effective production techniques, which sooner or later becomes an unprofitable practice.

Adopting effective corrosion protection and acid lining solutions is being regarded as the right fix for South Africa’s heavy industries. According to Future Market Insights, the corrosion protection coatings & acid proof linings market in South Africa has been estimated to have amassed US$ 313.1 million revenues by the end of 2016. Within the next decade, the size of South Africa’s corrosion protection coatings and acid proof linings market has be projected to the expand steadily at a CAGR of 5.7%. Factors that will influence the growth of acid proof linings & corrosion protection coatings market in South Africa include:

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  • ­Productivity Loss due to Mechanical Abrasion: Almost every other industrial process requires two surfaces to remain in contact with each other at some point during the process. Surface frictions result into mechanical abrasion upon a machine’s components or open surfaces. South Africa’s industrial sector has witness considerable rise in automobile assembly industries, textiles and metalworking. In such industrial verticals, productivity hampered due to mechanical abrasion can put an entire manufacturing unit in a defunct state. Through advanced corrosion protection coatings, South African companies incorporating production techniques that incur rugged mechanical abrasion can curtail any risks of lowering production capacity or delivering ineffective products.
  • Easy Availability & Effective Applicability of Polymers: Products offered by manufacturers in South Africa’s corrosion protection coatings & acid proof linings market are primarily derived from polymers. Polymer materials and plastics are at easy disposal for such manufacturers, which limits their costs of procurement of raw materials. According to Future Market Insights, the revenues amassed from sales of plastic or polymer-based products in South Africa’s corrosion protection coatings and acid proof linings market reached an estimated US$ 227.6 million in 2016.
  • High Costs of Machinery Replacement: Replacing an entire machinery takes a heavy toll on the capital expenditure of heavy industries. Similarly, replacing a component that has been corroded over time results into chances of incompatible replacement. By layering the surfaces of all machines and their components with corrosion protective coatings, South African companies will avert losses worth millions in the immediate future.
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  • Resurgence of South Africa’s Oil & Gas Industry: Chemicals manufacturers, iron & steel foundries, and mineral extraction plants are also some key drivers for South Africa’s economy. But, the country’s corrosion protection coatings and acid proof linings market is majorly impacted by booming oil & gas sector. Increasing profits and higher expenditure for South Africa’s offshore or maritime businesses such as oil & gas extraction have been amassing revenues from sales of acid proof linings at the fastest pace. Future Market Insights also projects that by 2026, the demand for corrosion protection coatings and acid proof linings in South Africa will gain traction in automotive and construction industry as well.


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FMI

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.