Metal Coatings Market Revenue Boosts as Growing Demand for Metal-Based Applications in Construction Industry
The market for metal coatings is anticipated to grow at a CAGR of 6.9% from 2022 to 2032, reaching USD 30.8 billion. In 2022, the market is anticipated to grow to USD 15.3 billion. A recent industry analysis conducted by Fact.MR, a provider of market research and competitive intelligence, indicates that the global market for metal coatings increased in value by roughly 5.3% between 2017 and 2021 and reached a total of USD 14.3 billion in that year.
The market for metal coatings is anticipated to have an absolute dollar potential of roughly USD 15.6 billion by the end of the forecast year. The growth of the global metal coatings industry will be considerably aided by the markets for metal coatings in North America and Europe.
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How Rise in Metal-Based Applications in Construction Industry Shooting Up The Demand For Metal Coatings?
Construction is one of the biggest consumers of steel and iron, accounting for over half of global consumption. As a result, more than 40% of all demand for metal coatings comes from this sector.
On the other hand, more than 2/5 of the global market for metal coatings is currently accounted for by the architectural end-use category. It is expected to grow at a 6.7% CAGR by the end of 2032 and have an absolute financial potential of USD 6.9 billion.
Key Companies Profiled
- PPG INDUSTRIES INC.
- THE Sherwin Williams Company
- DuPont Inc.
- Akzo Nobel N.V.
- BASF SE
- Axalta Coating Systems Ltd.
- Kansai Paint Co., ltd.
- Hempel A/S
- Nippon Paints Holding Co., ltd.
- Jotun Group
- NOF Metal Coatings Group
- Alucoil
- United Metal Coating LLC
- Jinhu Color Powder Coating Co., ltd.
- The Magni Group, Inc.
How Polyurethane and polyester-based metal coatings leads the demand?
Polyurethane and polyester-based coatings satisfy more than 20% of the market for metal coatings. Acrylic, siliconeized polyester, fluoropolymer, epoxy, and plastisol are a few well-known metal coatings.
One of the key aspects behind the rising demand for coil metal coating is its benefits. Due to the continuous and highly automated nature of the procedure, coil metal coatings always result in a high-quality paint finish. Coil metal coating offers constant thickness and close tolerances.
There is more rivalry in the metal painting sector. Due to the significant growth potential of the Asia-Pacific area, the bulk of the major companies have been focusing there. Some of the biggest players in metal coatings have started to acquire companies along the value chain in order to improve their overall portfolio.
The major factor driving the growth of the metal coatings market is the growing demand for protective coatings for metal surfaces. Coatings are used to protect metal surfaces from corrosion, wear and tear, chemical attack, and ultraviolet degradation.
The coatings also provide decorative properties, such as gloss, color, and texture. The growing demand for decorative coatings and the increasing use of metal in the automotive, marine, aerospace, and construction industries are expected to drive the growth of the metal coatings market.
What are the key benefits of this Metal Coatings market research report?
- The report does a CAGR computation and covering regulatory updates, best market practices, and new trends in the market.
- The report does international Metal Coatings market analysis providing economic forecasts and country wise intelligence, risks forecast, and more.
- The report provides domestic as well as international planning in terms of business expansion and investments.
- The report suggests strategies to the key participants that to enable them expand in their business in existing or new international markets.
- The report is the overall outlook of the global industry economy.
- The report covers all the topics in the Metal Coatings market to accurately predict the changes political, economic, and business issues and trends that may drive the market in future.
Metal coatings are a versatile product that can be used to protect and enhance the look of many different metal surfaces. The global metal coatings market is expected to witness considerable growth in the coming years due to increasing demand from various end-use industries such as automotive, construction, aerospace, and marine.
In addition, the increasing use of metal coatings in the medical and food processing industries is also likely to have a positive impact on the metal coatings market. Metal coatings are used to protect metal surfaces from corrosion and wear, as well as to add aesthetic value to the metal surface. Furthermore, metal coatings provide increased abrasion resistance and improved electrical conductivity, which makes them suitable for use in the food and beverage industry.
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The global metal coatings market is expected to experience steady growth in the coming years, driven by the increasing demand from various industries. Additionally, the growing demand for durable and corrosion resistant coatings is expected to drive the market. The increasing demand from the automotive and aerospace industries is also expected to drive the market growth. Furthermore, the growing demand for protective coatings in the construction industry is expected to drive the market growth.
Metal Coatings Market: Segmentation
- By Product Type :-
- Fluoropolymers
- Polyurethanes
- Polyester
- Plastisol
- Siliconized Polyester
- Others (epoxy, acrylic)
- By Process :-
- Coil
- Extrusion
- Hot Dip Galvanizing
- By Form :-
- Liquid
- Powder
- By End-Use :-
- Architectural
- Automotive
- Consumer Goods & Appliances
- Protective and Marine
- Others (Wind power, solar power, packaging)
- By Region :-
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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The key business strategies discussed in this market research revolve around-
- Which are the key business segments in the global industry?
- What are the important elements used to study the business intelligence of the market?
- What is the market value of the dominant firms operating in the Metal Coatings industry?
- What are the distribution networks, domestic & international traders, vendors, sellers of the individual segments in the industry?
- What are the entry barriers and expansion barriers globally in the business?
- What are the trends in the market, growth possibilities, investment risks in the worldwide Metal Coatings market?
- What are the prospect opportunities and industry investment chances in the market?
Check out more related studies published by Fact.MR Research:
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https://www.newswire.co.kr/newsRead.php?no=945688
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