Metal Coatings Market to Grow by USD 5.5 Billion (2024-2028), Due to Enhanced Durability of Powder Coatings, Report Highlights AI's Impact on Market Trends - Technavio

NEW YORK, Aug. 30, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global metal coatings market size is estimated to grow by USD 5.54 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.79%  during the forecast period. Enhanced durability of powder coatings is driving market growth, with a trend towards increasing need for durable and corrosion-resistant materials. However, high costs associated with production of metal coatings  poses a challenge. Key market players include 3M India Ltd., Aculon, Aervoe Industries, Inc., Akzo Nobel NV, AR Powder Coating, Axalta Coating Systems Ltd., AZZ Inc., BASF SE, BGRIMM Advanced Materials Science and Technology Co., Ltd., Burke Industrial Coatings, Hempel AS, Henkel AG and Co. KGaA, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., Noble Metal Coating L.L.C, PEKO Precision Products, Inc., PPG Industries Inc., Springco Metal Coating, Seymour of Sycamore Inc., TBK Metal Co. Ltd., The Lubrizol Corp., Tikkurila OYJ, and Total Materia AG.

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Market Driver

The Metal Coatings Market is experiencing steady growth due to increasing demand from various industries such as automotive, construction, and consumer goods. These coatings offer protection against corrosion, wear and tear, and provide improved aesthetics. Key players in the market include PPG Industries, Axalta Coating Systems, and AkzoNobel, who invest in research and development to offer innovative solutions. The market size is expected to reach significant value by 2025. 

Metal coatings are essential in various industries for enhancing durability, smoothness, and protective properties of metals. Trends in metal coatings include solutions for corrosion, wear, and tear. Coil and extrusion coatings are popular for building and construction, transportation, and consumer goods. Technologies like hot-dip galvanizing, resins (Polyester, Plastisol, Siliconized Polyester, Fluoropolymer, Polyurethane), and Epoxy offer corrosion resistance, oxidation resistance, high adhesion, and optical properties. The aviation, electrical, and electronics industries use metal coatings for their eco-friendly properties, cost-effectiveness, and texture. Coatings like Alkyd, Acrylic, and water-borne, solvent-based, and powder coatings cater to diverse industries' needs, ensuring metal components' longevity and resistance to wear and tear. LED curing and other advanced curing technologies enable faster production and improved coating quality. 

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Market Challenges

• The Metal Coatings Market is experiencing steady growth due to increasing demand from various industries such as automotive, construction, and consumer goods. These coatings offer protection against corrosion, wear and tear, and provide aesthetic value. Key players in the market include PPG Industries, Axalta Coating Systems, and AkzoNobel. They invest in research and development to introduce innovative products and expand their customer base. The market is expected to continue growing due to its essential role in enhancing the durability and appearance of metal surfaces.
• The Metal Coatings Market faces challenges in various sectors like Transportation, Consumer Goods, Marine, and Aviation. These industries require protective coatings for durability, smoothness, and corrosion resistance. Epoxy and Alkyd are popular choices for their cost-effectiveness and eco-friendly properties. However, technological advancements in Metal Coatings Technology bring new options like water-borne, LED curing, solvent-based, powder, and epoxy coatings. Different industries have unique needs. For instance, the Electronics Industry demands high adhesion and optical properties, while the Aviation sector requires oxidation resistance. The Marine industry focuses on wear resistance and texture. Fluctuation in prices is a challenge, but partnerships and technological advancements help mitigate this. Regulatory scenarios also impact the market, with regulations favoring eco-friendly coatings. Rapid infrastructure development in emerging economies presents opportunities for growth. Overall, the Metal Coatings Market is dynamic, with continuous innovation to meet industry demands.

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Segment Overview 

This metal coatings market report extensively covers market segmentation by 

1. End-user 
• 1.1 Building and construction
• 1.2 Automotive and transportation
• 1.3 Industrial
• 1.4 Consumer goods
• 1.5 Others
2. Type 
• 2.1 Epoxy coatings
• 2.2 Polyester coatings
• 2.3 Acrylic coatings
• 2.4 Polyurethane coatings
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Building and construction-  The construction industry's strong demand for metal coatings is fueled by their ability to provide corrosion protection, enhance aesthetic appeal, and ensure weather resistance. Coatings offer various colors and finishes to improve metal surfaces' visual appeal. They also shield against harsh environmental conditions, including UV rays, moisture, and temperature fluctuations. Some metal coatings offer insulation and heat reflection, contributing to energy-efficient buildings. Applicable to steel, aluminum, and galvanized iron surfaces, these coatings help meet building codes and environmental regulations. Growing urban construction activities increase the need for durable metal components, driving market growth. Advanced coating formulations and application methods improve performance, potentially increasing market demand in the construction sector.

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Research Analysis

The Metal Coating Market encompasses a wide range of protective coatings designed to enhance the durability and performance of various metals. These coatings offer benefits such as corrosion resistance, oxidation resistance, high adhesion, wear resistance, and optical properties. Coatings include technologies like Coil Coating and Extrusion Coating, which are widely used in the manufacturing of building materials like windows and doors. Other types of metal coatings include Hot-dip Galvanizing, Resins (Polyester, Plastisol, Siliconized Polyester, Fluoropolymer, and Polyurethane), and more. With rapid infrastructure development and the increasing demand for cost-effective and eco-friendly solutions, the Metal Coating Market is experiencing significant growth. Consumer goods industries also rely heavily on protective coatings for their products to ensure texture, durability, and longevity.

Market Research Overview

Metal coatings refer to thin layers applied to metal surfaces to enhance their properties and protect against wear, tear, and corrosion. These coatings offer durability, smoothness, cost-effective solutions, and eco-friendly properties for various industries. Coating technologies include coil coating, extrusion coating, hot-dip galvanizing, and various resins like polyester, plastisol, siliconized polyester, fluoropolymer, polyurethane, and more. Applications span across building and construction, transportation, consumer goods, marine, protective coatings, aviation, electrical, and electronics industries. Coatings provide corrosion resistance, oxidation resistance, high adhesion, optical properties, and wear resistance. Texture and eco-friendliness are also essential considerations. Fluctuation in prices, partnerships, and technological advancements influence the market. Regulatory scenarios and rapid infrastructure development further shape the metal coatings landscape. Key applications include windows, doors, and protective coatings for metals. Coatings offer benefits like epoxy, water-borne, LED curing, solvent-based, powder, and various resins like alkyd and acrylic. Industries like aerospace, automotive, and industrial manufacturing rely on metal coatings for their protective properties. The market is driven by the need for enhanced durability, smoothness, and cost-effectiveness.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Building And Construction
• Automotive And Transportation
• Industrial
• Consumer Goods
• Others
• Type
• Epoxy Coatings
• Polyester Coatings
• Acrylic Coatings
• Polyurethane Coatings
• Others
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio