Metal Coatings Market

Metal Coatings Market Size-(2023-2028)

The metal coatings market was valued at $ 12.29 billion in 2022 and is predicted to reach $ 15.48 billion by 2028, with an 8.3% annual development rate from 2023-2028

In this study, 2019 has been considered the base year of the market. Corrosion leads to changes in the properties and failure of metal performance. Metal coating is a way to protect the surface from corrosion and prevent changes in the properties of metals. In the metal coating process, metal is treated when the entire surface is cleaned and provides well-bonded finishes before the metal is converted into finished products. Metal plating makes the metal more durable by offering major coatings, innovative uses, a fine surface, and environmental advantages with price benefits that drive the call for metal plating for different businesses. Overall, the worldwide metal coatings market is predicted to post significant expansion during the foreseen period 2020 to 2025.

Environmental concerns regarding the use of plastic have become much more pronounced in recent years. This is driving various end-user industries to replace polyethylene terephthalate (PET) with more environmentally safe alternatives for coating applications, thus paving the way for the use of metal coatings. The global metal coatings market is gaining popularity due to its superior properties such as malleability, high adhesion, thermal protection, wear resistance, color, and optical properties. Metal coatings are employed by various end-users, such as the automotive and transportation, marine, consumer goods, home appliances, building and construction, and protective coating industries. The future of the market looks bright with the rising innovation in metallic coatings, which will probably open new fields of application for them. 

Metal Coatings Market Drivers:

The worldwide metal coatings market is predicted to record a moderate CAGR over a foreseen period as the application of metal coatings increases due to the rapid expansion of industrialization and urbanization, which is the main factor, stimulating the worldwide market for metallic coatings. Escalated development and spending on infrastructure, especially for the commercial and residential sectors, is also driving the call for finished coated metal products, driving expansion in the worldwide metal coating market. The advantages of metal coating, like escalated durability and enhanced texture, escalate the call and drive the worldwide metal coating industry. The burgeoning expansion of the automotive, construction, and appliance industries complements the expansion of the worldwide metal coatings market. Call for metal coatings will remain high in the Asia Pacific throughout the foreseen period.

Restraints in the Metal Coatings Market:

Strict rules and regulations of different governments, as the waste produced by the metal coating cleaning procedure, is dangerous for the environment, which can also hinder the expansion of the worldwide market for metal coatings. The volatility of commodity prices is hurting the expansion of the worldwide metal coatings market. Furthermore, restrictions on the use of hazardous chemicals are pushing players in the construction industry to turn to composites, replacing painted aluminum and steel sheets. 

Opportunities in the Metal Coatings Market:

Rapid infrastructure development in emerging economies in the Asia Pacific is driving the entire market. The escalating call for fluoropolymer-type resin in the construction and construction industry is also supporting the expansion of the market.

Challenges in the Metal Coatings Market:

Although the metal coatings market is gaining importance, there are some factors that act as constraints on its expansion in the worldwide market. The volatility of raw material prices and restrictions on the use of hazardous chemicals, the composite materials that replace painted aluminum and steel sheets in the construction and construction industry, restrict the market for metal coatings for the construction sector.

METAL COATINGS MARKET REPORT COVERAGE:

Metal Coatings Market Segmentation

Metal Coatings Market - By Resin Type:

• Fluoropolymer

• Polyurethane

• Polyester

• Plastisol

• Siliconized Polyester

Polyester resin kind coatings have a high share in the industry, owing to its uniform features. 

Metal Coatings Market - By Process:

• Coil coatings

• Extrusion coatings

• Hot-dip galvanized coatings

The coil coating process represents a significant market share during the foreseen period, due to its escalating industrial applications and technological advancements.

Metal Coatings Market - By Technology:

• Liquid

• Powder

Liquid coating technology is designed to increase applied profitability and achieve better quality. Technology represents a greater market share in terms of value and volume.

Metal Coatings Market - By End-Use:

• Building and Construction

• Automotive and Transportation

• Consumer Goods and Appliances

• Marine

The building and construction industry has a large part of the market, where these coatings are applied to heating.

Metal Coatings Market - By Region:

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East & Africa 

The Asia-Pacific region is predicted to grow at the highest rate in the worldwide metal coatings market, in terms of value and volume, from 2020 to 2025. Rising call from emerging economies, such as China and India, and the rise of mega construction Projects and sales of high-end vehicles and consumer goods and household appliances are predicted to drive expansion in the Asia Pacific metal coatings market. China is currently the world's largest consumer of metal coatings in terms of volume. The consumer goods and household appliances industry is the largest industry in the country with double-digit expansion, annually. Asia Pacific is anticipated to increase at a significant rate during the foreseen period.

The rising sales of consumer goods and household appliances, the burgeoning expansion of the automotive sector and the rising construction activities in emerging countries such as India and China are contributing to the expansion of the region. Today, China is a major consumer of metal coatings in the world. Market expansion in China is driven by the presence of cheap labor, escalated foreign direct investment (FDI), and the easy availability of low-cost raw materials. The North American region will represent a large market share, and the United States will be the main contributor. The US metal coatings market is likely to experience an upward trend due to current and future oil and gas projects and escalated auto sales. The market in Europe is predicted to gain significant momentum in the coming years with initiatives such as the metal forever campaign, launched by the European Union Trade Association.

Recent Developments 

PPG has launched an updated website for architectural metal coatings displaying a streamlined view, intuitive navigation, and improved access to several popular coatings specification devices.

Metal Coatings Market Key Players:

Significant metal coatings makers operating in the metal coatings industry include E.I. du Pont de Nemours and Company (U.S.), PPG Industries (U.S.), Axalta Coating Systems. (U.S.), AkzoNobel N.V. (Netherland), Nippon Paint Holdings Co., Ltd. (Japan), Henkel AG & Co., KGaA (Germany), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), BASF SE (Germany), Kansai Paint Co., Ltd.(Japan), Wacker Chemie AG (Germany), and The Becker Group, Ltd. (US).