Metal Coatings Market Analysis

Global Metal Coatings Market Overview

The Metal Coatings Market Size was valued at USD 11.54 Billion in 2022. The Metal Coatings market industry is projected to grow from USD 12.1 Billion in 2023 to USD 18.2 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.1% during the forecast period (2023 - 2030). increasing spending on residential properties coupled with improving the living standard and rising disposable income of the consumer in developing nations is the key driver for the Metal Coatings marketSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Metal Coatings Market Trends

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  The rising demand for metal coatings from the automotive and construction industries will drive market growth.

  
  

Metal coatings are the coatings, which are applied over metals for protecting them from corrosion and reduce wear and tear. Processes such as coil coating, extrusion coating, and hot-dip galvanizing are mainly used in metal coatings. In these methods, the metal is processed as the entire surface is washed and given closely bonded finishes before the fabrication of metal into final products. The resins such as polyester, plastisol, siliconized polyester, fluoropolymer, and polyurethane are mainly used in metal coating. Additionally, the metal coating offers durability, smoothness, cost-effectiveness, and eco-friendly properties. These benefits surge the product demand in the building & construction, automotive & transportation, consumer goods & appliances, marine, and protective coatings.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, The metal coating market is growing at a rapid pace owing to increasing demand from the construction and automotive industries. The properties such as improved texture, corrosion or oxidation resistance, high adhesion, and optical, and wear resistance makes metals coatings a sustainable choice. In the construction industry, the product is adopted in the windows and doors applications. Whereas, in the automotive industry, product consumption can be seen in various automotive parts. The rapid infrastructure development in various countries coupled with rapid growth in the automotive industry will contribute to fuel market growth.

However, fluctuation in the prices of metal coatings impacts the overall demand and restricts its adoption in various applications. Hence, this is anticipated to hamper the market growth.

Metal Coatings Market Segment Insights

Metal Coatings Resin Type Insights

The Metal Coatings market segmentation, based on Resin Type, includes Epoxy, Polyester, Polyurethane, and Other Resins segments. The Polyester segment is anticipated to account for the highest market share. This can be attributed to the increased applicability and popularity of Polyester resins owing to their features such as UV resistance, high bendability, etc.

Metal Coatings Technology Industry Insights

Based on Technology, the Metal Coatings market segmentation includes Water-borne, LED Curing, Solvent-based, Powder, and UV Cured segments. The Water-borne segment is anticipated to account for the highest market share. This can be attributed to the increasing consumer awareness about these coatings. These coatings have significantly lesser emissions and therefore are approved in many countries as well. They also do not require any additional monomers, which is adding to their increasing popularity.

Figure 2: Metal Coatings Market, by Resin type, 2023 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Metal Coatings Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is the fastest-growing region in the metal coatings market owing to the growing construction industry with rising investments in infrastructure activities by the government. Initiatives taken by the Indian government such as the development of smart cities and the construction of Navi Mumbai International Airport among others are likely to augment the market growth. Furthermore, the rapidly expanding automotive industry in developing nations as a result of increased spending on automobiles is driving the demand.

Figure 3: METAL COATINGS MARKET SHARE BY REGION 2023 (%)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

North America is another prominent region in the metal coatings market due to expanding aviation industry. This is attributed to the increasing aircraft production to meet the surging demand for automobiles from the developing regions. Product consumption is enlarging in the electrical and electronics industry with increasing spending on wireless speakers and home appliances.

Europe is expected to become a significant market during the review period by reviving the automotive industry, especially in France, Germany, and Russia. The booming construction industry with rising investment in the remodeling of houses and commercial buildings is expected to drive market growth.

Latin America is witnessing substantial growth in the metal coatings market with the growing construction and automotive industry in Brazil, Argentina, and Colombia. The Middle East & Africa is likely to experience substantial growth in the metal coating market with rising construction activities mainly in the UAE.

Metal Coatings Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Metal Coatings market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Metal Coatings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Metal Coatings. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Metal Coatings industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Metal Coatings industry to benefit customers and expand the market sector. The Metal Coatings market has recently given medicine some of the most important advantages. Major Metal Coatings market players, including Toefco Engineered Coating Systems, Inc. (U.S.), BASF SE (Germany), DowDuPont (U.S.), AkzoNobel N.V. (The Netherlands), The Valspar Corporation (U.S.) and others, are attempting to increase market demand by funding R&D initiatives.

Valspar's mission is to be the recognized leader in the coatings industry. This leadership will be achieved through the commitment of all employees to Valspar's three Principles of Total Quality: meeting customer requirements; continuous improvement; total employee involvement.

Also, AkzoNobel is a company that manufactures paints and coatings. It offers products such as decorative paints, automotive, specialty, marine, protective, yacht, industrial, and powder coatings. The company operates several brands, such as AkzoNobel, Alabastine, Alba, Apla, Cetol, Coral, Dulux, Flexa, Glitsa, Herbol, and Lesonal.

Key Companies in the Metal Coatings market include

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  Toefco Engineered Coating Systems, Inc. (U.S.)

  
  


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  BASF SE (Germany)

  
  


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  DowDuPont (U.S.)

  
  


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  AkzoNobel N.V. (The Netherlands)

  
  


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  The Valspar Corporation (U.S.)

  
  


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  PPG Industries, Inc. (U.S.)

  
  


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  The Sherwin-Williams Company (U.S.)

  
  


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  Axalta Coating Systems (U.S.)

  
  


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  Kansai Paint Co., Ltd (Japan)

  
  


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  Beckers Group (Berlin)

  
  


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  Henkel AG & Co.

  
  


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  KGaA (Germany)

  
  


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  Nippon Paint Holding Co., Ltd (Japan).

  
  

Metal Coatings Industry Developments

In June 2020, Axalta (NYSE: AXTA) launched its Strenex industrial product line which includes waterborne and solvent-borne single-component alkyd and acrylic metal coatings products. This reduces production time and overall production cost. This is majorly used in metal coatings for construction, industrial, and fabrication. The new product launch expanded the company’s market presence in North America, targeting new customer segments. In addition, partnerships, acquisitions, and agreements are the key strategies adopted by major manufacturers to sustain their position in the competitive landscape. Thus, these players focus on producing metal coatings on a domestic level and operate by exporting to other regions to expand their business.

Metal Coatings Market Segmentation

Metal Coatings Resin Type Outlook

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  Epoxy

  
  


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  Polyester

  
  


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  Polyurethane

  
  


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  Others Resins

  
  

Metal Coatings Technology Outlook

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  Water-borne

  
  


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  LED Curing

  
  


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  Solvent-based

  
  


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  Powder

  
  


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  UV Cured

  
  

Metal Coatings Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America