Global Metal Coatings Market Revenue Growth Predicted in Between 2018 to 2027

Posted on 2018-12-21 by Mark Hub in Chemicals // 0 Comments

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Metal coatings market is highly fragmented with a maximum number of tier 2 companies. Product improvement, new product launches, and end-user penetration are high among tier 1 and tier 2 players. With a rise in regulations on VOC emission, both tier 1 and tier 2 players are focusing on new product launches and technologies.

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Facility expansion is one of the key focus areas of leading companies. While the tier 2 players are focusing on improving the existing products with new technologies and formulations. New and smart metal coatings providing protection against chemical staining, UV, dirt, and corrosion are provided by top players in the Metal Coatings Market.

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.

Competition Analysis

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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