Metal Coatings Market to Reach USD 19400 Million by 2028 at a CAGR of 5.1% | Valuates Reports

BANGALORE, India, April 25, 2022 /PRNewswire/ -- The Metal Coatings Market is Segmented by Type (Liquid Coating, Power Coating), by Application (Household Appliances, Construction, Automobile, Transportation, Consumer Goods): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry Category.

Due to the COVID-19 pandemic, the global Metal Coatings market size is estimated to be worth USD 14410 Million in 2022 and is forecast to a readjusted size of USD 19400 Million by 2028 with a CAGR of 5.1% during the review period.

Major factors driving the growth of the Metal coatings Market:

The extensive use of metal coatings in the construction industry for corrosion, scratch resistance, finishing, and UV ray protection will surge the demand for the market. Moreover, the use in automobiles, transportation for appearance,  protection against rust, and extreme weather conditions will drive the growth of the metal coatings market.

The widespread application in consumer products, appliances, and electronics will bolster the market growth during the forecast period.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL METAL COATINGS MARKET

Metal coatings are protective layers added to improve surface properties and prevent corrosion, adhesion, and scratch. Coatings are applied to metallic panels for withstanding harsh weather conditions and rust. It improves long-term durability and eliminates dents or imperfections. The multiple coated layer also protects a building's roof from harmful UV rays thereby reducing replacement costs. Construction workers apply the coatings on windows, flooring, ceiling, walls, metal structures, pipes, and woodworks. The innovative building designs, color, texture, and growing construction projects will drive the growth of the metal coatings market.

The automobile sector will provide lucrative growth opportunities for the metal coatings market. Automobiles are exposed to harsh weather conditions like rain, and snow which damages the internal metal car components. Plating services involve applying coatings through electrodeposition. It prevents white and red rust from reaching the internal parts thereby arresting corrosion. In addition to it, the coated layering promotes electrical conductivity and provides a smooth aesthetic finish on the exterior parts.

The transport industry is vulnerable to extreme dust, dirt, and corrosion. The shipment of bare metal goods such as sheets, gears, coils, or vehicle components over long distances and overseas shipping is subject to extremely harsh conditions.  Metal coatings provide a thin, translucent monomolecular protective barrier that maintains the aesthetic appeal and provides self-healing capabilities. The appearance remains unchanged allowing easy inspection. Several metals such as aluminum, copper alloy, cast iron, and steel are coated to protect from unreliable transit. This in turn will spur the growth of the metal coatings market during the forthcoming period.

Consumer goods such as electronic items, bakeware, kitchen appliances, bathroom fittings, razor blades, and musical instruments are coated extensively to provide a smooth finish, and uniform color, and to prevent denting or abrasion. Moreover, household appliances such as washing machines, dryers, heaters, refrigerators, DVD players, microwaves, dishwashers, and computers are cast with metal layers. These factors will surge the growth of the metal coatings market during the forecast period.

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METAL COATINGS MARKET SHARE ANALYSIS

Based on type, the liquid coating segment will witness extensive growth in the metal coatings market share due to large scale applications in the construction and automotive industry. Liquid coating is easy to make and saves time.

Based on application, the construction segment will grow the highest in the metal coatings market share due to rapid infrastructural projects and the use of coatings for wear and tear resistance.

Based on region, the Asia-Pacific segment will grow the largest in the metal coatings market share due to the booming construction industry in emerging economies such as China, Japan, India, etc.

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Key Players

• PPG INDUSTRIES
• Axalta Coating Systems
• Akzonobel
• The Valspar
• BASF
• Dow
• Kansai Paint
• The Beckers
• The Sherwin-Williams
• Wacker Chemie.

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SIMILAR REPORTS:

-  Due to the COVID-19 pandemic, the global Metal & Glass Coatings market size is estimated to be worth USD 12410 Million in 2022 and is forecast to a readjusted size of USD 22230 Million by 2028 with a CAGR of 10.2% during the review period.

-  Due to the COVID-19 pandemic, the global Powder Coating market size is estimated to be worth USD 13660 Million in 2022 and is forecast to a readjusted size of USD 21680 Million by 2028 with a CAGR of 8.0% during the review period.

-  Due to the COVID-19 pandemic, the global Metal Plating, Coating and Finishing Services market size is estimated to be worth USD 16160 Million in 2022 and is forecast to a readjusted size of USD 20360 Million by 2028 with a CAGR of 3.9% during the review period.

-  The global Metal Packaging Coatings market was valued at USD 2906 Million in 2020 and it is expected to reach USD 4053.5 Million by the end of 2027, growing at a CAGR of 3.3% during 2021-2027.

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