Increase in Use of Metal Coatings in Automotive, Aerospace,
and Industrial Applications
Metal coatings are utilized in a
range of sectors, including architecture, automotive, marine, electrical, and
electronics, due to their corrosion- and weather-resistant properties. The
resins used in these coatings include polyester, acrylic, epoxy, polyurethane,
and alkyds, to name just a few. Polyester resins are becoming more used in the
building sector because to their weather resistance and gloss retention. The
growing market for residential real estate, rising consumer disposable income
in developing nations, and the expanding construction industry in both
developed and emerging areas are all driving growth in the global metal
coatings market. The market is growing as a result of a resurgent automobile
industry in developed nations. Additionally, the expanding electrical and
electronics sector is anticipated to provide significant opportunities for the
global metal coatings market, as are government initiatives like the internet
of things (IoT) and automation. Rising customer desire for in-built features in
personal devices is anticipated to considerably drive the market over the
anticipated period.
The Growth of the Metal Coating Market is Largely Influenced
by the Automotive Industry
The automobile sector is a major
end-user of metal coatings. Approximately 70% of an automobile's weight is composed
of iron and steel. One of the key materials used in the manufacturing of
automobiles is surface-treated steel sheets. For basic automotive frames like
hoods, bumpers, doors, mufflers, and galvanised steel sheets, surface treated
steel sheets are required. Additionally, metal coatings are necessary to
prevent these hoods, doors, and other components from rusting and oxidising. As
a result, the rising number of vehicles has been one of the key factors driving
the demand for metal coatings. Recent industry consolidation has been noticed,
which has facilitated the sector's responsiveness to demand. Metal coatings
have become more in demand as a result of this. The current trend toward
environmentally friendly automobiles with organic coatings, batteries, and
other materials/products has also jolted the market for metal coatings.
Coil Coatings to Remain the Most Lucrative Segment
Architecture is one of the major
end-use industries for coil coatings, and there has been a great development in
this sector globally. It is anticipated that the worldwide coil coatings market
will see consistent expansion as a result of the expanding infrastructure
developments and accelerating industrialisation throughout the world. One major
factor anticipated to drive the market in the forthcoming years is the
rising demand for oil and gas resources on a global scale. The market is
expected to grow as alloys and metals, particularly steel, are increasingly
used in constructions like pipes, reactors, and pipelines for the oil and gas
industry. Before being used for diverse purposes, the majority of the steel
products used by the oil and gas industry across the world must require coil
coating paint. Another aspect that is anticipated to support growth is the
increasing production of oil and gas in unexplored regions.
The market is expected to be
driven by the increasing use of metals in electrical and electronic equipment
to create armatures, transformers, inductors, and coils. To improve the
efficiency of household appliances, colour coated coil is used. Vendors are
being forced by the rising demand for power to produce new transformers and
armatures on a regular basis. This field is expected to increase demand for
metals and the requirement for coil coating processes.
The World Steel Association
reports that in 2021, about 1330.2 million tonnes (Mt) of steel were produced
in Asia and Oceania, 158.7 million tonnes (Mt) in the European Union and the
United Kingdom, 59.9 million tonnes (Mt) in the Commonwealth of Independent
States, and 48.1 Mt in the Middle East. Globally expanding steel production is
expected to increase demand for coil coating products.
Metal Coatings Market Segmentation
The global metal coatings market is
segmented on the basis of type, product and application.
On the basis of Metal Type:
·
Aluminum
·
Steel
·
Stainless steel
·
Others
On the basis of Resin Type:
·
Fluoropolymers
·
Polyurethanes
·
Polyester
·
Plastisol
·
Siliconized Polyester
·
Others (epoxy, acrylic)
On the basis of Process:
·
Coil Coating
·
Extrusion Coating
·
Hot Dip Galvanizing
On the basis of Form:
·
Liquid
·
Powder
On the basis
of End-Use:
·
Architectural
·
Automotive
·
Consumer Goods & Appliances
·
Military and defanse
·
Marine and Protective Coatings
·
Others (Wind power, solar power, packaging)
Impact of Covid-19 era & Restriction in the Metal Coating
Market
The market for architectural
metal coatings has had some growth restraints due to the COVID-19 pandemic. The
market growth was severely impacted by a drop-in construction activity brought
on by the implementation of the lockdown and workforce impairment. During the
pandemic, delays in construction projects, a shortage of raw materials, and
operational difficulties were seen everywhere. Construction stopped in order to
maintain social distance standards and stop the virus from spreading. However,
the metal coating industry's fixturing method is extremely costly, which could
increase the expense of the metal coating procedure and impede the expansion of
the global metal coating market. The strict laws and regulations of the various
governments are in place since the waste produced during the removal of metal
coatings is hazardous to the environment and might potentially slow the
expansion of the global metal coating market. In 2017, the launch of fresh
light stabilisers for wood and metal coatings under the Tinuvin brand by BASF
SE, the largest chemical manufacturer in the world. This product would help the
business develop robust exterior coatings.
The market's leading companies
for metal coatings are PPG Industries Inc., DuPont, Akzo Nobel N.V., BASF SE,
The Sherwin-Williams CompanyBeckers Group, Henkel AG & Co. KGaA, Nippon
Paint Holdings Co., Ltd., Valspar, NOF METAL COATINGS GROUP, , Axalta Coating
Systems, Kansai Paint Co., Ltd., Alucoil, UMC, AZZ Inc., The Magni Group, Inc.,
FameLine Products, Praxair S.T. Technology, Inc, Hempel A/S and Technicoat
s.r.o., among other domestic and global players.
Asia-Pacific Dominate the Global Metal
Coatings Market
Asia Pacific is the region with
the fastest expansion in the global metal coatings market as a result of a
rising construction sector and increased government spending on infrastructure
projects. The Indian government's initiatives, including the creation of smart
cities and the building of the Navi Mumbai International Airport, among others,
are projected to accelerate market expansion. Additionally, the demand is being
driven by the rapidly growing automotive sector in the emerging countries as a
result of rising vehicle expenditure. Furthermore, China consumes more than 40%
of the world's steel production, making it the market leader for metal coatings
in the construction sector. Strong demand for metal coatings is being further
fueled by China's booming automobile industry.
Due to the expanding aviation
industry, North America is another significant area in the global metal
coatings market. This is due to rising aeroplane manufacturing to match the
explosive growth in vehicle demand from developing nations. With rising
expenditure on wireless speakers and household appliances, the electrical and
electronics industry's product consumption is expanding. With developing
construction and automotive industries in Brazil, Argentina, and Colombia,
Latin America is experiencing significant expansion for the metal coatings
market. The market for metal coatings in the Middle East and Africa is
anticipated to expand significantly due to an increase in construction
activity, especially in the UAE.
The report provides a detailed
overview of the metal coatings market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for metal coatings market has been
offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates
are also incorporated for every country and region, to provide a detailed view
of the metal coatings market. These Y-o-Y projections on regional and
country-level markets brighten the political, economic and business environment
outlook, which are anticipated to have a substantial impact on the growth of
the metal coatings market. Some key country and region included in the metal
coatings market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Metal
Coatings Market Research Report Covers In-depth Analysis on:
·
Metal coatings market segments
·
Metal coatings market dynamics
·
Metal coatings market value and share analysis
·
Recent trends, restraints, opportunities in metal
coatings market
·
Companies & competition involved metal
coatings market
·
Latest technologies in metal coatings market
·
Supply chain and value chain metal coatings
market
·
Metal coatings market sales and distribution
strategies
Metal Coatings
Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key Strategies of leading companies and product portfolio
·
Metal coatings industry trends and developments
·
Potential and country, regions and segments exhibiting
future growth
·
A detailed viewpoint on metal coatings market forecast
by countries
·
Essential information to enhance market position
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