Global Metal Coatings Market
As stated in our extensive report; the Global Metal Coatings Market accounted for USD 15.1 Billion in the year 2022 and is forecast to reach USD 23.4 Billion by 2030 at a CAGR of 6.5%.
The construction and automotive industries’ rising demand for Metal Coatings is driving the market’s rapid growth. Metal Coatings are an environmentally friendly option due to their features like improved texture, corrosion or oxidation resistance, high adhesion, optical, and wear resistance. The product is used in applications for windows and doors in the construction industry. The consumption of products can be seen in numerous vehicle parts, however, in the automobile sector. The market will grow as a result of the swift infrastructure development taking place in various nations and the swift expansion of the automotive industry.
The market for Metal Coatings is projected to be impacted by the rising demand for fluoropolymer resin type in the building and construction sector. In accordance with this, the strong demand for Metal Coatings from the developing world is also playing an important role in favoring the market’s expansion.
Factors Influencing Global Metal Coatings Market Growth
The growth of the global Metal Coatings market can be attributable to the following:
- Increasing demand from end-use sectors: As end-use industries like the automotive, construction, aerospace, and electronics increase, so does the demand for metal coatings. Metal Coatings are necessary in these sectors to shield objects from corrosion, wear, and tear, and to improve their visual appeal.
- Preventing corrosion on the metal substrate is one of the key factors driving the increase in demand for Metal Coatings. Metal coatings provide a practical way to avoid corrosion, which can seriously harm metal structures and products.
- Compared to other surface treatments like plating or anodizing, metal coatings are a more affordable option. The need for metal coatings is therefore being increased as a result of numerous businesses choosing metal coatings as a practical option.
- Technical developments: The expansion of the metal coating industry is being driven by the development of new technologies like nano coatings. In comparison to conventional coatings, nano-coatings offer superior adhesion, corrosion resistance, and other features.
- Metal coatings provide surfaces a pleasing appearance in addition to shielding metals from corrosion. The expansion of the market is being driven by an increase in demand for ornamental coatings on metal surfaces in the construction and automotive industries.
Even though the metal coatings industry is expanding, a few constraints limit its expansion on the worldwide stage. The metal coatings market for the building & construction sector is constrained by the fluctuation in raw material prices, limitations on the use of hazardous chemicals, and composite materials replacing painted aluminium and steel sheets.
North America to Take Over the Global Market
The Metal Coatings industry is predicted to grow at the fastest rate in North America. The expansion is linked to the expanding product demand in the building sector. The region is anticipated to witness growth as a result of the rising demand from developing nations like China and India, as well as the expansion of major construction projects, the sales of high-end automobiles, and the sale of consumer products and appliances.
China is currently the leading user of metal coatings in the world. The availability of low-cost raw materials, cost-effective labour, and foreign investments are driving the growth of the metal coatings market in China.
The growth in North America is the result of rising demand for plastisol as a metal coating in the marine & protective coatings sector. The rise in usage of the product in the automobile sector is driving the growth in Europe. Due to the adoption of metal coatings made of polyurethane in consumer goods and appliances, the Middle East and Africa are expected to experience significant growth.
The Metal Coatings market is expanding as a part of the worldwide coating industry due to the rising demand from a variety of end-use sectors, including the automotive, building, aerospace, and electronics industries. Metal coatings are an excellent option for enhancing the characteristics of substrates including steel, aluminium, zinc, and copper because they provide a number of advantages including corrosion resistance, wear resistance, and aesthetic appeal. The demand for environmentally friendly and sustainable coatings, cost efficiency, developing markets, and technical improvements are some factors driving the market. As a result, major market participants are spending in R&D to create novel coatings with improved qualities and that abide by environmental requirements.
Notable and prominent players in the Global Metal Coatings Market include- E.I. du Pont de Nemours & Company (U.S.), PPG Industries (U.S.), Axalta Coating Systems (U.S.), AkzoNobel N.V. (Netherlands), Nippon Paint Holdings Co. Ltd. (Japan), Henkel AG & Co. KGaA. (Germany) and others.