PUNE,India, December 6, 2016 /PRNewswire/ --
The report "Metal Coatings Market by Type (Polyester, Plastisol, Siliconized Polyester, Fluropolymer, Polyurethane), Process (Coil, Extrusion, Hot Dip Galvanizing), Technology (Liquid, Powder), End Use Industry, and Region - Global Forecast to 2026", published by MarketsandMarkets, the global market is estimated to be valued at USD 10.52 Billion in 2016 and is projected to reach USD 14.34 Billion by 2026, at a CAGR of 6.1% from 2016 to 2026.
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Browse 184 market data Tables and 92 Figures spread through 320 Pages and in-depth TOC on "Metal Coatings Market"
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The growth of housing sectors in emerging countries such as India, China, Indonesia, Qatar, Bangladesh, and Vietnam is driving the demand for metal coatings for applications such as HVAC, trim, blinds, roof & wall panels, doors, windows, and others. The automotive & transportation industry is the second largest consumer of metal coatings and hence is an important market for metal coatings. The U.S. metal coatings market experienced an upward trend due to increase in automotive and oil & gas projects in 2015. Europe also remains an important automotive industry, maintaining its position in terms of production of vehicles.
Building & Construction is the fastest growing application of metal coatings
Manufacturers use functional products such as paints, stain, lacquers, primers, and clears to come up with end products of metal coatings which are used in the building & construction industry. Metal coatings are applied on HVAC, trims, ceiling grids, blinds, purlins, railings, roof & wall panels, doors, soffits, and others.
Mega construction projects in Qatar, Kuwait, Saudi Arabia, Oman, and Bahrain are expected to drive the building & construction industry which will in turn drive the Metal Coatings Market in the Middle East.
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Polyester is the largest market for metal coatings
Polyester resin based metal coatings have uniform properties, such as good bendability, hardness, gloss, and resistance to UV, chemicals, scratching, and light. Polyester resins are unsaturated synthetic resins formed by the reaction of dibasic organic acids and polyhydric alcohols. Polyester resin based metal coatings are technologically classified into two types, aromatic polyester and cycloaliphatic polyester. Aromatic polyester metal coatings are widely used and are less expensive; whereas aliphatic polyester metal coatings are durable and highly UV-resistant, but expensive. The market for polyester resin is driven by the increasing use in applications such as building & construction, and automotive & transportation.
Rising demand in Asia-Pacific is the major driver of the metal coatings market
In 2015, the Asia-Pacific region accounted for the largest market share, in terms of volume and value. This is due to the increasing demand for quality metal coating products, rising population in the region, and growing innovations & developments in end-use industries, making it a strong industry hub. The high demand in the Asia-Pacific region is expected to be the major driver in the Asia-Pacific market.
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Key market players in the metal coatings market
The key players in this market are E.I. du Pont de Nemours and Company (U.S.), PPG Industries (U.S.), Axalta Coating Systems. (U.S.), AkzoNobel N.V. (Netherland), Nippon Paint Holdings Co., Ltd. (Japan), Henkel AG & Co., KGaA (Germany), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), BASF SE (Germany), Kansai Paint Co., Ltd.(Japan), Wacker Chemie AG (Germany), The Becker Group, Ltd. (US).
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