Global Metal Coatings Market Size To Worth USD 19.8 Billion By 2033 | CAGR of 5.23%
The Global Metal Coatings Market Size was Valued at USD 11.89 Billion in 2023 and the Worldwide Metal Coatings Market Size is Expected to Reach USD 19.8 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Akzo Nobel N.V., Axalta Coating Systems, BASF SE, Beckers Group, Hempel A/S, Jotun Group, Kansai Paint Co., Ltd., PPG Industries Inc, The Sherwin-Williams Company, Henkel AG & Co. KGaA, DowDuPont Inc., Lukoil Oil Company, Clean Diesel Technologies Inc, Nippon Paints Holding Co.Ltd., and Other Key Vendors.
New York, United States , April 10, 2024 (GLOBE NEWSWIRE) -- The Global Metal Coatings Market Size is to Grow from USD 11.89 Billion in 2023 to USD 19.8 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.23% during the projected period.
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Metal coating is a layer of coating applied to another metal to protect it against rusting. Metal coatings are layers that are resistant to corrosion and can withstand loads. These coatings can be manufactured from a range of materials, including paint, powder, and specialty coatings such as zinc and chrome plating. Metal coatings provide protection against corrosion, scratching, and weathering, prolonging the lifespan of metal structures in industries like automotive, aerospace, construction, and manufacturing. Furthermore, the market is likely to be driven by an increase in construction projects, building and construction expenditures, increased demand from various end-use sectors, and the benefits of metal coatings. Urban expansion, combined with rising consumer disposable income, has led to in a rising need for both working and dwelling spaces. Also, rising demand for aesthetically pleasing metal finishes in consumer goods and building applications fuels the popularity of decorative metal coatings, boosting market growth. However, the strict restrictions and regulations implemented by various governments since the waste generated during the metal coating cleaning procedure is harmful to the environment could hamper the growth of the global metal coating market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the *"**Global Metal Coatings Market** Size, Share, and COVID-19 Impact Analysis, By Resin Type (Polyester, Epoxy, Polyurethane), By Technology (LED Curing, Solvent-Borne, Water-Borne, Powder, UV Cured), By End-Users (Automotive & Transportation, Consumer Goods & Appliances, Building & Construction, Marine & Protective Coatings, Others), and* *By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023–2033)."*
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*The polyester segment is expected to hold the greatest share of the global metal coatings market during the forecast period.*
Based on the resin type, the global metal coatings market is divided into polyester, epoxy, and polyurethane. Among these, the polyester segment is expected to hold the greatest share of the global metal coatings market during the forecast period. Polyester coating is a highly automated process that can be performed continuously. Furthermore, they produce a higher-quality paint finish after application. They also produce a thin, uniform layer of thickness. These factors are projected to lead to segmental growth, which will increase demand for metal coatings.
*The water-borne segment is expected to grow at the fastest pace in the global metal coatings market during the forecast period.*
Based on the technology, the global metal coatings market is divided into LED curing, solvent-borne, water-borne, powder, and UV cured. Among these, the water-borne segment is expected to grow at the fastest pace in the global metal coatings market during the forecast period. The key benefit over solvent-borne is its non-polluting as it includes fewer volatile organic compounds (VOCs), which are harmful to the environment. Other benefits of water-based paints include low odor, durability, and block resistance. Water-borne coatings increased environmental friendliness and adaptability are increasing global demand.
*The building & construction segment is expected to hold a largest share of the global metal coatings market during the forecast period.*
Based on the end-users, the global metal coatings market is divided into automotive & transportation, consumer goods & appliances, building & construction, marine & protective coatings, and others. Among these, the building & construction segment is expected to hold a largest share of the global metal coatings market during the forecast period. Growing construction costs and increased spending on maintenance initiatives are expected to raise segmental value. Metal coatings offer numerous advantages in the building and construction industries, including increased durability, corrosion resistance, and improved texture. These characteristics make metal coatings especially useful in the building and construction industries.
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*North America is expected to hold the largest share of the global metal coatings market over the forecast period*.
North America is expected to hold the largest share of the global metal coatings market over the forecast period. North America's significant environmental and product quality standards have encouraged the employment of complex coating methods, such as eco-friendly formulations and low-VOC coatings, resulting in increased market share. Furthermore, ongoing investments in building initiatives, in addition to an intense focus on invention and technological advancement, contribute to the region's market dominance by providing an environment conducive to the development and adoption of modern coating methods suited to diverse business demands and application requirements.
Asia Pacific is predicted to grow at the fastest pace in the global metal coatings market during the projected timeframe. This dominance is supported by rising industrialization, powerful manufacturing operations, and a burgeoning automotive sector in nations like China and India. The region's vast industrial base and growth in infrastructure greatly increase demand for metal coatings.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global metal coatings market include Akzo Nobel N.V., Axalta Coating Systems, BASF SE, Beckers Group, Hempel A/S, Jotun Group, Kansai Paint Co., Ltd., PPG Industries Inc, The Sherwin-Williams Company, Henkel AG & Co. KGaA, DowDuPont Inc., Lukoil Oil Company, Clean Diesel Technologies Inc, Nippon Paints Holding Co.Ltd., and Others.
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*Recent Developments*
· *In February 2023, *the major capacity increase at the Powder Coatings factory in Como, Italy, owned by AkzoNobel, has been completed. Ensuring supply to customers in Africa, the Middle East, and Europe (EMEA) is the aim of the expansion. Four new manufacturing lines at AkzoNobel's Powder Coatings facility in Como, Italy, have been put into service following a €21 million initiative. Specifically, two of these lines are for automotive primers, and the other two are for building coatings.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Metal Coatings Market based on the below-mentioned segments:
*Global Metal Coatings Market, By Resin Type*
· Polyester
· Epoxy
· Polyurethane
*Global Metal Coatings Market, By Technology*
· LED Curing
· Solvent-Borne
· Water-Borne
· Powder
· UV Cured
*Global Metal Coatings Market, By End-Users*
· Automotive & Transportation
· Consumer Goods & Appliances
· Building & Construction
· Marine & Protective Coatings
· Others
*Global Metal Coatings Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· UK
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of the Middle East & Africa
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