Metal Coatings Market Projected to Experience Major Revenue Boost during the Period between 2018-2027|| Industry players are PPG INDUSTRIES INC., DOWDUPONT INC., AKZO NOBEL N.V., BASF SE, HEMPEL A/S, JOTUN GROUP, ALUCOIL
The study primarily focuses on the factors influencing the growth of the metal coatings market, enabling readers to plan various business strategies on the basis of the key insights offered on the metal coatings market report. The key section of the report, offers an overview of the metal coatings market including a brief introduction to the metal coatings market, along with the segment-wise and region-wise analysis.
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Rise in Construction and Automotive Sector Driving Metal Coatings Market Growth
Automotive and building and construction industries are emerging as key drivers for the growth of metal coatings market. Heavy investment in the construction industry in the Asia Pacific region is offering growth opportunity or metal coatings manufacturers. Countries such as China, India, Qatar, and Indonesia are demanding quality metal coating products for mega construction projects.
The consumption of coated steel is also growing in the construction industry in India and China. Coated steel is largely used in structures, wall cladding, and roofing. This is driving the demand for metal coatings products to develop coated steel for building infrastructure.
Automotive manufacturers across the globe are looking for light-weight materials to develop light-weight vehicles. This is resulting in advancement in metal coatings technology.
Automotive coatings are gaining traction in Japan, China, Germany, the US, and India. Painting being the most cost and energy-intensive process in the automotive industry, coating manufacturers are investing in research and development activities to reduce the cost and time.
Direct-to-Metal Coatings Witnesses Significant Demand across Industries
The demand for direct-to-metal coatings is on a rise owing to its cost efficiency and environmental benefits. Direct-to-Metal coatings are witnessing demand in light and medium duty industrial application with need or protection from elements such as UV degradation or corrosion.
Regulations pushing towards lower Volatile Organic Compounds (VOC) is one of the factors driving demand for direct-to-metal coatings. In direct-to-metal coatings, the waterborne direct-to-metal coatings are replacing solvent-borne coatings across various industries as it requires single-coat application as compared to two step primer, thereby saving cost and labor.
Manufacturers of chemicals used in direct-to-metal coatings are developing new products with a focus on chemical, temperature, and corrosion resistance. Key manufacturers in the metal coatings market are developing waterborne direct-to-metal coatings to provide cost-saving and reduce VOC emissions.
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Regulations on Metal Coatings to Hamper Metal Coatings Market Growth
With an increasing number of industries including construction, automotive, food packaging, etc., governments across various countries have introduced regulations on metal coatings to limit VOC emission and ensure safety. These rules have shifted the focus from traditional coatings to advanced metal coatings, thereby, resulting in manufacturers investing more in research and development of new products. The biggest challenge faced by metal coating manufacturers is developing low VOC emission product offering similar performance to conventional metal coatings products.
Corrosion is the biggest issue in the food packaging industry. Hence, governments are introducing strict regulations on the metal cans used in food packaging. This is leading to the requirement of special coatings to protect metal packaging form corrosion.
Moreover, meeting the requirement for coatings used in metal food packaging is challenging as the standards set by one country are different from standards set by another country. Hence, metal coatings formulators in food packaging need to be aware of changing regulations and meet the standards without compromising on quality. Regulations on metal coatings are becoming more stringent in developed as well as developing countries like China with the rise in level of VOC.
Rising Demand for Pre-Coated Metal Parts to Create Growth Opportunities for Metal Coatings Manufacturers
There has been a significant growth in pre-metal coated parts as the demand from construction sector, pipes for oil and gas industry, and earth-moving vehicles have increased. Raw material suppliers and paint formulators are working together to develop better products for these industries. One of the main focus areas of manufacturers in the metal coatings market is to maintain corrosion resistance performance and improve application properties.
Industries such as building products, home appliances, and food and beverages companies using metal tins and cans are using pre-coated metal parts on a large scale to streamline manufacturing process, and save a huge cost.
With the increasing demand for pre-coated metal parts, manufacturers in the metal coatings market are offering high-quality coating products to ensure better color, texture and thickness of the finished product. New technologies and chemicals are under research and development to enhance coating performance including features such as color, hardness, gloss, resistance to cracking and adhesion.
The Fact.MR report on the metal coatings market offers detailed profiles of the major players operating in the market. The study also includes an exhaustive assessment of both well-established and emerging players in the metal coatings market. Information on new developments, product portfolio, key financials, and mergers and acquisitions is also provided in the report on the metal coatings market.
New product launch is one of the key strategies of the companies in metal coatings market. For instance, PPG Industries Inc. has introduced PPG Envirocron Extreme Protection powder coating system to provide chip and corrosion resistance and extending life of automotive coil springs on OEM vehicles. The new coating offers additional benefits like ease of use and consistent film builds on spring surface.
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