WASHINGTON, March 28, 2023 (GLOBE NEWSWIRE) -- Global Metal Coatings Market is valued at USD 15.1 Billion in 2022 and is projected to reach a value of USD 23.4 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.5% over the forecast period 2023-2030.
Market Overview
The increase in smartphone and mobile game usage worldwide is one of the major drivers of expanding the Metal Coatings market. The construction and engineering sector's continued growth in demand for fluoropolymer resin type is projected to impact the market for Metal Coatings. This major factor that will favor the expansion of the market is the rising need for Metal Coatings from the expanding region.
We forecast that the polyester category in Metal Coatings market sales will project more than 20% of total sales by 2028. Due to characteristics like U.V. resistance and great association with employees, polyester resins have become more widely used and well-liked.
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Market Dynamics
Rising Product Demand is Attributed to its Expanding Application Scope to Support Market Growth
The growing application scope of the product in the automobile, oil & gas, and other industries is responsible for the increase in product demand. Due to their characteristics, such as resilience to stains, splitting, severe temperatures, and blistering, industrial coatings are frequently used in manufacturing, shipyards, and treatment plants for wastewater. The substance is used in home appliances, such as refrigerators and washing machines, to shield them from corrosive gases, dampness, and food acids, increase their lifespans and enhance their looks. The low VOC content, the excellent anti-corrosion performance of industrial coatings, and expanding demand from the automotive and aerospace industries are driving demand.
Increasing Use of Metal Coating in the Automobile Industry to Drive the Market Growth
Metal Coatings are widely employed in the production of automobiles for a variety of purposes. The coating enhances the aircraft's appearance while assisting in protection against corrosion of the metal. Additionally, it offers a smooth finish that makes cleaning it simple. Various types of Metal Coatings are available depending on the application's needs. Particle coatings are chosen for internal components like engine blocks and gearboxes, while aqueous coatings are typically used for exterior purposes.
Top Players in the Global Metal Coatings Market
- E.I. du Pont de Nemours & Company (Wilmington, U.S.)
- PPG Industries (Pittsburgh, U.S.)
- Axalta Coating Systems (Philadelphia, U.S.)
- AkzoNobel N.V (Amsterdam, Netherlands)
- Nippon Paint Holdings Co. Ltd. (Osaka, Japan)
- Henkel AG & Co. KGaA. (Darmstadt, Germany)
- The Sherwin-Williams Company (Cleveland, U.S.)
- The Valspar Corporation (Minneapolis, U.S.)
- BASF SE (Ludwigshafen, Germany)
- Wacker Chemie AG (Munich, Germany)
- The Becker Group Ltd. (Germany)
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Top Trends in Global Metal Coatings Market
- One trend that Vantage Market Research (VMR) predicts in the Metal Coatings industry is the rising usage of waterborne coating. This is related to consumers becoming more aware of these coatings. Due to their much-reduced emissions, these coatings are also authorized in many other nations. They are becoming increasingly popular because they don't need extra monomers.
- Another trend that VMR projects will continue in the Metal Coatings industry is its increased adoption in construction activities. Many building projects employ Metal Coatings to stop oxidation, wear, and abrasion. Buildings often use Metal Coatings for a variety of reasons. Some are designed to provide extra visual appeal, chemical resistance, and precautionary equipment. The expanding market for these applications is anticipated to be supported over the coming few years by the rising demand for them.
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Top Report Findings
- The Polyester category controls most of the Metal Coatings market's revenue based on Resin Type due to a consistent set of qualities, including good, useful, valuable, stiffness, gloss, and durability to U.V. radiation, toxins, and abrasion. The growth of their applications in the building and construction, as well as the automotive industries, is driving the market demand for these polyester-type coatings.
- Based on the Process, most of the Metal Coatings market's revenue is controlled by the Coil Coating category. Coil coatings are widely used in paints for pre-coated metals and in solutions for building covering and wall covering, all of which are anticipated to support market expansion.
- Based on Technology, most of the Metal Coatings market's share is controlled by the Liquid Coating category. The Liquid Coating technology is intended to improve quality while reducing applied costs. Due to mankind's wide range of unique formulations, including solvent-based, high-solid or low-bake, waterborne finishing, and UV-curable technology, it holds a bigger market share in volume and value.
- Based on End-User Industries, most of the Metal Coatings market's revenue is controlled by the Building & Construction activities category. This can be linked to the enormous growth of the construction sector and the widespread application of Metal Coatings as layers of clothing on various objects due to their high adhesion and better wear capabilities.
Recent Developments in the Global Metal Coatings Market
- February 2020- Industria ChimicaReggiana (ICR) S.p.A., a producer of paints and coatings for the automobile refinish and light industrial coatings industries, was purchased by the firm
- November 2019- To improve its position globally in aerospace coatings, Akzo Nobel N.V. purchased Mapaero, a French aerospace coatings producer.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Metal Coatings Market Forecast Report (2023-2030).
Liquid Coating Category in Metal Coatings Market to Generate Most of the Technologies Segment Revenue
For better understanding, based on the Technology, the Metal Coatings market is divided into Liquid Coating and Powder Coating.
During the forecast period, the market for Metal Coatings is projected to experience the highest CAGR for the Liquid Coating category. A type of coating called a liquid coating is applied in liquid form. It can be water-based paint, but typically it is an organic solvent-based paint. The key benefit of employing liquid coatings is their ease of application and clean edge. They are perfect for materials like plastic, metals, and wood. The automobile and construction businesses are the two that employ liquid coatings the most.
On the other hand, the Powder Coating category is anticipated to grow significantly. A chilly powder called powder coating is used to paint objects. Compared to liquid coatings, it uses fewer chemicals because it is in the form of dry particles. Because of their superior adherence and durability, powder-based paints are preferred for commercial and residential applications. Due to its many advantages over traditional liquid paint methods, such as high elasticity, higher corrosion resistance, better coverage on complicated surfaces, etc., powder coating has risen in popularity.
North America Region in Metal Coatings Market to Generate a Significant Revenue in the Forecast Period
North America region dominates the market throughout the projection period because more aircraft are being produced to keep up with the soaring demand for cars. Since ongoing and planned oil and gas projects and the increase in auto sales, the U.S. Metal Coatings market is anticipated to witness an upward trend. The manufacturing of chemicals and their corresponding usage by end-use industries has undergone several revolutions in this region. The demand for bio-based feedstock has greatly aided the development of green alternatives in these areas. Additionally, regulatory agencies have enforced stringent rules about environmental issues and potential health risks due to exposure to R.
The Asia Pacific region is expected to show tremendous growth in the market. Due to its increasing population, the need for the high-quality metal ideal material, and the growth of end-use businesses. The APAC region's high demand for these coatings is a key driver driving the market.
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Global Metal Coatings Market Segmentation
By Resin Types
- Polyster
- Plastisol
- Siliconized Polyster
- Fluoropolymer
- Polyurethane
- Other Resin Types
By Processes
- Coil Coating
- Extrusion Coating
- Hot-Dip Galvanizing
By Technologies
- Liquid Coating
- Powder Coating
By End-Use Industries
- Building & Construction
- Automotive & Transportation
- Consumer Goods & Appliances
- Marine and Protective Coatings
- Other Industries
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 15.1 Billion |
| Revenue Forecast by 2030 | USD 23.4 Billion |
| CAGR | 6.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | E.I. du Pont de Nemours & Company, PPG Industries, Axalta Coating Systems, AkzoNobel N.V., Nippon Paint Holdings Co. Ltd., Henkel AG & Co. KGaA., The Sherwin-Williams Company, The Valspar Corporation, BASF SE, Wacker Chemie AG, The Becker Group Ltd. |
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Key Questions Answered in the Metal Coatings Market Report are:
- What is the current size of the global metal coatings market and what is its projected growth rate?
- What are the different types of metal coatings available in the market and what are their respective market shares?
- What are the key drivers, challenges, and trends in the metal coatings industry?
- What are the major end-use industries for metal coatings and what is their respective market share?
- What are the key geographic regions for metal coatings and what is their respective market share?
- Who are the major players in the metal coatings market and what are their market shares?
- What are the key strategies adopted by the players to maintain their market position and what are their growth plans?
- What are the major challenges faced by the metal coatings market and what are the possible solutions to overcome these challenges?
- What are the latest technological advancements in the metal coatings industry and how are they impacting the market?
- What is the competitive landscape of the metal coatings market and what are the key trends observed in the market?
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