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Architectural Metal Coatings Market Insights 2024: Size, Industry Share, and Growth Trends
Architectural Metal Coatings Global Market Report 2024
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According to The Business Research Company's, The architectural metal coatings market size has grown strongly in recent years. It will grow from $5.23 billion in 2023 to $5.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rise in construction sector, investment in infrastructure, economic growth, growth in population, government support.
The architectural metal coatings market size is expected to see strong growth in the next few years. It will grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to rising disposable income, rising urbanization, rising adoption of energy-efficient buildings, building renovations and retrofits. Major trends in the forecast period include digital coating technologies, antimicrobial coatings, smart coatings, low-energy coatings, sustainable coatings.
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Market Drivers and Trends:
The increase in infrastructure construction and investment is driving the architectural metal coatings market. Construction has been on the rise due to rapid industrialization and urbanization across both developed and developing nations. Architecture construction requires metal coatings to protect them from corrosion and harsh weather, it also gives the newly constructed buildings an aesthetic and attractive look. For instance, according to the U.S. Census Bureau report on monthly construction spending in 2022, the construction spending was expected to be $1,744.8 billion in April 2022, a 0.8% rise from the revised March estimate of $1,740.6 billion. Therefore, the increase in infrastructure construction and investment is expected to boost demand for architectural metal coatings during the forecast period.
Technological advancement is a key trend gaining popularity in the architectural metal coatings market. Major companies in the architectural metal coatings market are advancing towards sustainable and eco-friendly coatings to protect the health of the users and the environment. Architects and specifiers are looking for architectural metal coating alternatives that combine sustainability, toughness, and a wide range of colors. For instance, in September 2021, Allnex, a Germany-based chemical manufacturing company that produces industrial coating resins and additives for architectural, industrial, protective, automotive and special purpose coatings and inks, launched ECOWISE CHOICE. ECOWISE CHOICE is an environment-friendly product line for use in construction and home decoration. By utilizing ecologically friendly technologies like waterborne, UV-curable, powder, and formaldehyde-free crosslinking solutions, Allnex is focused on enhancing its presence in sustainability of buildings worldwide.
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Major Key Players of the Market:
The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating Systems Ltd., Nippon Paint Holdings Co Ltd., Kansai Paint Co Ltd., Hempel A/S, Jotun A/S, Badische Anilin- und Sodafabrik SE, Beckers Group, Wacker Chemie AG, NOROO Automotive Coatings Co Ltd., Titan Coatings Inc., Continental Coatings Pvt Ltd., AGC Chemicals Americas Inc., ANB Metal Cast Pvt Ltd., Arkema S.A, Asian Paints Ltd., G.J. Nikolas & Co Inc., Dura Coat Products Inc., TCI Powder Coatings, Tnemec Company Inc., Carboline Company, RPM International Inc., Benjamin Moore & Co., Dunn-Edwards Corporation, Behr Process Corporation, Diamond Vogel
Architectural Metal Coatings Market 2024 Key Insights:
• The architectural metal coatings market size is expected to see strong growth in the next few years. It will grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Elevated Infrastructure Construction Fuels Growth In The Architectural Metal Coatings Market
• Architectural Metal Coatings Market Embraces Eco-Friendly Technologies For A Sustainable Future
• Asia-Pacific was the largest region in the architectural metal coatings market in 2023
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