Metal Coatings Market - Volume Analysis, size, share and Key Trends 2016-2024
Environmental concerns regarding the use of plastic have become much more pronounced over the last few years. This is prompting various end-user industries to replace polyethylene terephthalate (PET) with environmentally safer alternatives for applications such as coatings, thereby paving way for the use of metal coatings. The global metal coatings market is gaining significant traction owing to their superior properties such as malleability, high adhesion, thermal protection, wear resistance, color, and optical properties. Metal coatings are used by various end users such as automotive and transportation, marine, consumer goods and appliances, building and construction, and protective coatings industries. The future of the market looks bright with the increasing innovation in metal coatings, which is likely to open new application areas for them.
This research report aims to estimate the market size and growth potential in the foreseeable future, by methodically examining the current scenario and the historic data pertaining to the global metal coatings market. For a coherent understanding, the report segments the market on the basis of various criteria including geography, technology, and end-user. Factors influencing the growth and the extent to which they impact the market are also studied in the report. The report includes tools such as market attractiveness analysis and Porter’s five force analysis and presents the competitive landscape of the market. The report includes information about the key players in the global metal coatings market along with their latest developments, business strategies, and revenue structures.
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Global Metal Coatings Market: Drivers and Restraints
The flourishing growth of the automotive, building and construction, and appliances sectors is supplementing the growth of the global metal coatings market. The demand for metal coatings will remain high in Asia Pacific throughout the forecast period. The rapid infrastructural development in emerging economies of Asia Pacific is propelling the overall market. The rising demand for fluoropolymer resin type across the building and construction sector is also working in favor of the growth of the market. However, the volatility in the prices of raw materials is adversely affecting the growth of the global metal coatings market. Moreover, the restrictions on the use of hazardous chemicals are compelling players in the building and construction industry to shift towards composite materials, replacing painted aluminum and steel sheets.
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Global Metal Coatings Market: Geographical Segmentation
On the basis of geography, the global metal coatings market can be categorized into Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. The North America region will represent a large share in the market, with the U.S. being the major contributor. The U.S. metal coatings market is likely to experience an upward trend due to the ongoing and upcoming oil and gas projects and the increasing sales of automobiles. The market in Europe is expected to gain significant momentum in the forthcoming years with initiatives such as metal forever campaign, which is initiated by the European Union Trade Association.
Asia Pacific is anticipated to rise at a significant rate during the forecast period. The increasing sales of consumer goods and appliances, the flourishing growth of the automotive sector, and the rising construction activities in emerging countries such as India and China are contributing to the growth of the region. At present, China is a major consumer of metal coatings in the world. The growth of the market in China is driven by the presence of cheap labor, increasing foreign direct investments (FDI), and the easy availability of inexpensive raw materials. The ongoing mega construction projects in Bahrain, Kuwait, Oman, Saudi Arabia, and Qatar are poised to drive the demand for metal coatings in the Middle East.
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