The coatings which are applied over metals for protecting them from corrosion and reduce wear and tear are metal coatings. The process used are coil coating, extrusion coating and hot-dip galvanizing. The metal is processed as the entire surface is washed and given closely bonded finishes before the fabrication of metal into final products. Resins used to prevent from corrosion are polyester, plastisol, siliconized polyester, fluoropolymer and polyurethane. Metal coatings provide properties such as durability, smoothness, cost-effective and eco-friendly properties. Due to its benefits the demand for the product rises in the building and construction, automotive and transportation, consumer goods and appliances, marine and protective coatings.
Metal performance is reduced due to corrosion. Hence metal coating is a way to protect the surface from corrosion and prevent changes in the properties of metals. Coatings helps the metal to be more durable with a fine surface and environmental advantages with cost benefits. Metal coating protects it from the contaminants. Also, they are used to act as lubricants or torque agents. Screws, bolts and fasteners are often coated with such coatings. Metal coating is generally used on outdoor furniture, fence or pool accessories to protect these items from weather. This coating can be formulated in finishes which can be a cosmetic choice and a functional choice.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Million), (Kilotons) |
| Segmentation | By type, By application, By End user, by region |
| By Type
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| By Application
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| By End user
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| By Region
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Over the past few years, construction and automotive industries have seen a steady growth. Metal coating offers properties to the metal such as improved texture, corrosion or oxidation resistance, high adhesion, optical and wear resistance. This makes it a sustainable choice. Hence there is a demand for metal coatings from construction and automotive industries. This is driving the market growth of metal coating market. The product is adopted in the windows and doors application in the construction industry. In the automotive industry, metal coatings are used in various automotive parts. In various developing countries, infrastructural development is seen which will drive the market growth. Also, automotive industry has seen a growth due to rising population which will also contribute to fuel market growth.
In industrial applications, powder coating is widely used due to environmentally friendly nature and its lower VOC (Volatile organic compounds) content. It creates a more durable layer compared to other coatings. Liquid coating is a simple process hence used for car painting.
In the metal coating industry, the fixturing process is very expensive. This increases the cost of the overall process and restrain the growth of the metal coating . Along with this, the volatile raw material prices and composite material to replace painted aluminum, steel sheets in the building and construction industry are key restraints in the metal coatings market. The waste output by the cleaning procedure of metal coating is harmful to the environment and hence there are strict rules and regulations of the various governments which may hamper the growth of the metal coatings market.
Due to covid-19 pandemic, there was a decline in industrial activities of transportation which hampered the growth of the metal coating market. The insufficiency in raw material supply affected the production rate of metal coating market which impacted the metal coating supply chain management. China accounts for a significant market share followed by Korea, France and Germany. The high dependency on China for powder coating impacted the market growth. Construction activities were halted due to lockdown which reduced the demand for metal coatings. Post pandemic, as the industrial activities were resumed the demand for metal coatings increased again.
The Metal Coatings market size was 11.2 USD Billion in the year 2020 and expected to grow at a rate of 8.3 CAGR to 23.26 USD Billion in 2029.
Asia Pacific held more than 31% of the Metal Coatings market revenue share in 2021 and will witness expansion in the forecast period.
Factors such as growing construction and automotive industry is driving the market growth of Metal coatings market.
The Metal Coatings market key players include E. I. Du Pont De Nemours and Company, BASF SE, Nippon Paint Holdings Co., Ltd., Akzonobel N.V., Henkel AG, WackerCheime, Sherwin-Williams, Axalta Coating System, PPG Industries and Valspar Corporation.
On the basis of end user market is divided into building and construction, automotive and transportation, consumer goods and appliances, marine and protective coatings. Building and construction has the largest market share of metal coatings market. As there are infrastructural developments in the developing countries, the demand for metal coatings from this industry has increased leading to a higher market share.
The Metal Coatings market was dominated by Asia Pacific region and accounted for the market share of 31 % in the year 2020.The infrastructural developments in the rising economies such China and India in the region are rising the demand for metal coatings market. China is the largest market for automotive industry and also for the highest sales in automobile. This is in turn driving the market growth of metal coatings market. The sales of consumer goods and household appliances are predicted to drive expansion in the Asia Pacific metal coatings market.
The Metal Coatings market is segmented based on type, process, end user and region, global trends and forecast.
Based on the type of coating used the market is segmented into Polyester, Plastisol, Siliconized Polyester, Fluoropolymer, Polyurethane. Polyurethane and polyester-based coatings account for more than 20 % of the market As the process is continuous and highly automated , the quality of the paint finfish is great with coil metal coatings. It offers a uniform thickness and looks within tight tolerances.
Based on application market is sub segmented into liquid coating and powder coating. Liquid metal coatings have a bigger market share. Liquid form is mainly used in the automotive and construction industry owing to automatic processed and machines. Two layers are applied in coil coating for liquid based which are primer and topcoat.
On the basis of end user market is divided into building and construction, automotive and transportation, consumer goods and appliances, marine and protective coatings. Building and construction has the largest market share of metal coatings market. As there are infrastructural developments in the developing countries, the demand for metal coatings from this industry has increased leading to a higher market share.
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The Metal Coatings market key players include E. I. Du Pont De Nemours and Company, BASF SE, Nippon Paint Holdings Co., Ltd., Akzonobel N.V., Henkel AG, WackerCheime, Sherwin-Williams, Axalta Coating System, PPG Industries and Valspar Corporation.
September 28, 2022 : BASF coatings inaugurated new electrocoat research center. The electrophoretic or cathodic dip coat protects the surfaces, edges and cavities of a car body against corrosion and evens out the roughness of the pre-treated metal surfaces. February 24, 2022 : Nippon Paint holdings started sales of “PROTECTION Car Interior VK Coat” an anti-viral and anti-bacterial coating for car interiors.The Metal Coatings market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
The Metal Coatings market was dominated by Asia Pacific region and accounted for the market share of 31 % in the year 2020.
The infrastructural developments in the rising economies such China and India in the region are rising the demand for metal coatings market. China is the largest market for automotive industry and also for the highest sales in automobile. This is in turn driving the market growth of metal coatings market. The sales of consumer goods and household appliances are predicted to drive expansion in the Asia Pacific metal coatings market. The world’s largest consumer of metal coatings in terms of volume is China. Due to the presence of cheap labor, escalated foreign direct investment and the easy availability of low-cost raw materials is driving the market expansion in China. Japan is expected to project a higher growth rate in the forecast period.
Due to increased automobile sales and future oil and gas projects metal coating market in the North American region is expected to experience an upward trend. There is a rising demand for plastisol in the marine and protective coating application.
The increasing use of metal coating in the automotive industry is driving the growth of metal coating market in Europe. The initiatives such as the metal forever campaign, launched by the European Union Trade Association will help the market to gain momentum.
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