Metal Coatings Market

Premium Insights

The global

Metal Coatings Market

is valued at

in 2021

and is projected to reach a value of

by 2028

at a CAGR (Compound Annual Growth Rate) of

6.5%

over the forecast period.

Metal Coatings are coatings applied to metal surfaces to protect the surface from general wear and tear. Due to constant environmental protection, unprotected metals often lead to rust and corrosion. An additional layer is provided by applying an extra layer of metal. The global Metal Coatings market is expected to be driven significantly during the forecast period owing to the fourth industrial revolutions emergence and increased research and development efforts within the report. Additionally, an ongoing trend of nanotech coating and green electroplating is expected to further increase the footprint of the global Metal Coatings market during the forecast period. Durable metals and adaptive production techniques are often integrated within various end-use industries such as automotive and aerospace, fuelling the sales of Metal Coatings products.

Metal Coatings offer many advantages, such as corrosion resistance and reduced wear and tear. During the forecast period, an expanding construction sector combined with increased spending on residential and commercial infrastructure is expected to add value to the global Metal Coatings market. A booming automotive industry combined with the availability of raw materials at an exceeding pace is further expected to widen the markets growth. The electrical and electronic sector is one of the major consumers of Metal Coatings. Studies have indicated increased spending on consumer electronics during the forecast period, which is expected to increase further the viability of Metal Coatings market.

Rapid industrialization and urbanization efforts are further expected to increase the footprint of the global Metal Coatings market. Increased focus on infrastructural development is expected to add value to the worldwide market. An ongoing trend of environmental protective coatings is on the rise. Studies indicate that coatings with low odor, increased usability, and water clean-up characteristics among the end-users are further expected to pave the way for a widened market reach.

Economic Insights

The World Bank anticipates a recession in 2023 as central banks raise interest rates. In addition, there will likely be labor scarcity and rising raw material prices. Manufacturers have already noticed the market expanding slowly, and it is predicted that in 2023 the market will grow more slowly than it did in the previous two decades. The conflict between Ukraine and Russia had a significant impact on the energy sector and other industries. It has been mentioned that Russia and Ukraine are two of the main gas and oil suppliers. Russias invasion of Ukraine disrupted imports and exports, which led to an energy crisis for nations that depend on petroleum from these two nations.

Top Market Trends

1.

Water-Based Paints and Coatings:

An ongoing trend of water-borne paints and coatings is expected to further propel the growth of the global Metal Coatings market during the forecast period. Water-borne coatings are gaining popularity as they are environmentally friendly and are generally low in volatile organic compounds (VOCs). They also have a low odor and a higher block resistance, making them highly valuable within the Metal Coatings market. Water-borne coatings are highly utilized within the automotive industry.

2.

Increasing Government Initiatives to Support Growth:

REACH, a government initiative in Europe, was adopted to protect human health and the environment from the risks that chemicals can constitute. Within the European Union, these initiatives promote alternative methods for the hazard assessment of substances. This is paving the way for increased utilization of water-borne Metal Coatings.

3.

Technological Advancements:

Technological advancements within the Metal Coatings market is a significant growth factor gaining popularity within the industry. Prominent players in the market are developing architectural coatings towards sustainable and eco-friendly coatings to protect their users' health. Studies indicate that architectures and specifiers are often looking for architectural Metal Coatings alternatives that combine toughness and a wide range of colors.

Market Segmentation

The global Metal Coatings market can be categorized on the following:

Resin Type, Process, Technology, End-Use Technology, and Regions

. Based on resin type, the market can be categorized into polyster, plastisol, siliconized polyster, fluoropolymer, polyurethane, and others. By process, the market can be segmented across coil coating, extrusion coating, and hot-dip galvanizing. By technology, the market can be fragmented across liquid coating and powder coating. By end-use technology, the market can be fragmented across building & construction, automotive & transportation, consumer goods & appliances, marine and protective coatings, and others. By Likewise, based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Resin Type

Polyester to Occupy Dominant Market Share Owing to a Highly Automated Process

The polyester Metal Coatings is expected to account for the largest market share during the forecast period in terms of revenue and share. The process of polyester coating is highly automated and can occur continuously. Additionally, they offer a higher-quality paint finish after application. They also provide a thin and uniform layer of thickness. These factors are expected to add value to the segmental growth, fuelling the sales of Metal Coatings market. Due to its cost-effectiveness, polyurethane will grow with the fastest-growing CAGR during the forecast period.

Based on Technology

Liquid Coating to Account for Largest Market Share Owing to Rising Utilization within the Automotive & Construction Industry

Liquid coatings are expected to dominate the global Metal Coatings market during the forecast period in terms of revenue and share. Factors such as the liquid form being highly utilized within the automotive and construction sector are expected to increase the footprint of the segmental value. Additionally, liquid coatings can be applied using an automated process, making the layer happen rapidly. These factors are expected to widen the scope of liquid coatings towards a higher margin. Powder coatings will grow with the fastest-growing CAGR during the forecast period as it combines other materials to form balanced mixtures.

Based on End-Use Technology

Building & Construction to Fuel Dominant Market Owing to an Expanding Sector

Building and construction are expected to dominate the largest market share during the forecast period in revenue and sales. Rising spending towards infrastructure spending and increased investments towards maintenance projects are expected to add to the segmental value. Metal Coatings offer various advantages in the building and construction sector, such as increased durability, corrosion resistance, and improved texture. These factors make Metal Coatings extremely valuable within the building and construction sector. Due to rising automotive sales, automotive and transportation are expected to grow with the fastest-growing CAGR during the forecast period.

Based on Region

North America to Account for Maximum Share Owing to Rising Consumer Demand for Vehicles

The global Metal Coatings market is expected to be dominated by the region of North America owing to rising investments in research and development combined with increased consumer demand for vehicles.

Additionally, increasing demand for consumer appliances such as laptops, refrigerators, microwaves, and speakers is expected to propel the growth of the North American Metal Coatings market. The easy availability of raw materials combined with the rising stringent laws regarding VOC emissions is expected to increase the markets footprint.

Asia Pacific will grow with the fastest growing CAGR during the forecast period owing to a consumer base that supports incremental construction and the automotive industry. Additionally, rising utilization of Metal Coatings within various end-use industries such as marine, vehicle finishing, and general manufacturing will add to the market value.

Competitive Landscape

The global Metal Coatings market is highly fragmented due to numerous players in the market. Rising demand from various sectors pushes players to develop new coating methods for multiple surfaces. Additionally, new methods are being developed for coating materials that can be used for wider end-use industry.

The key players in the global Metal Coatings market include - E.I. du Pont de Nemours & Company (U.S.) among others.

Recent Market Developments:

·

November 2019:

Akzo Nobel N.V. announced they were acquiring Mapaero, a French aerospace coatings manufacturer. This acquisition is expected to strengthen Akzos global position in the aerospace coatings industry.

·

February 2020:

Akzo Nobel N.V. announced that they were acquiring ChimicaReggiana (ICR) S.p.A., a market leader in manufacturing paints and coating for automotive refinish and light industrial coating industries.

Segmentation of the Global Metal Coatings Market