Metal Coatings Market

Global Metal Coating Market Outlook

The global metal coatings market is estimated at USD 15.3 Billion in 2022 and is forecast to reach USD 30.8 Billion by 2032, growing at a CAGR of 6.9% during 2022-2032.

As per a recent industry analysis by Fact.MR - market research and competitive intelligence provider, global metal coatings market enjoyed a growth of nearly 5.3% by value during 2017-2021 and has been valued at USD 14.3 Billion in 2021.

Report Attributes	Details
Market Size Value in 2021	USD 14.3 Billion
Market Value Estimate in 2022	USD 15.3 Billion
Market Forecast Value in 2032	USD 30.8 Billion
Global Growth Rate (2022-2032)	CAGR 6.9%
East Asia Market Share in 2021	~24%
East Asia Growth Rate (2022-2032)	CAGR 7.6%
Top 5 Companies Market Share in 2021	~16%
Key Companies Profiled	PPG INDUSTRIES INC. THE Sherwin Williams Company DuPont Inc. Akzo Nobel N.V. BASF SE Axalta Coating Systems Ltd. Kansai Paint Co., ltd. Hempel A/S Nippon Paints Holding Co., ltd. Jotun Group NOF Metal Coatings Group Alucoil United Metal Coating LLC Jinhu Color Powder Coating Co., ltd. The Magni Group, Inc.

With the emergence of the fourth industrial revolution, the research and development in the metal coatings sector has been increased significantly. The most effective innovations include nanotech coating, green electroplating etc. have transformed the metal coating industry. This has also resulted in an increase in global demand for metal coatings. Durable metals and adaptive production techniques are critical for a variety of applications, including automotive, aerospace, and machinery.

However, the metal coatings market is projected to contribute an absolute dollar opportunity of about USD 15.6 Billion by the end of the forecast year. European and North American metal coatings market will have significant contribution in the growth of global metal coatings industry.

Furthermore, the European metal coatings market has shown tremendous growth in the last few years which declined in the year 2020 due to the COVID-19 pandemic. Though, resume of end-use industries may drive the significantly. It is projected to encompass 1/5th market share with a growth rate of 4.6% CAGR by 2032.

As per segmental analysis, fluoropolymers type is the largest metal coatings segment which has acquired more than 1/5th market share in the last half-decade. It is likely to grow with an 8.2% CAGR and acquire more than 1/4th of metal coatings market share by 2032.

Moreover, the coil process is largely adopted by the coatings manufacturers owing to which it has acquired around 45% market shares last few years. Further, increasing rapid implementation of coiling processes, owing to its low-cost and effective production benefits, is likely to offer an absolute dollar opportunity of closely USD 6.6 Billion in the coming decade.

Revenue of Metal Coatings Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

Historically, the market value of the metal coatings industry showcased a steady run at around 5% CAGR during 2017 to 2021. The global metal coatings market has generated an absolute dollar opportunity of USD 4.2 Billion in the same time frame.

As per the region level analysis, European metal coatings market has maintained it dominance in global market. However, North America has acquired around 1/4th of market share with a growth of 4.1% CAGR in the last half-decade.

How Automobile Industry is contributing to the Metal Coatings Market Growth?

The prominent end-user of metal coatings is the automotive industry. Iron and steel account for roughly 70% of an automobile's weight. Surface treated steel sheets are one of the most important items used in automobile manufacture. Surface treated steel sheets are required for basic car frames such as hoods, bumpers, doors, mufflers, and galvanized steel sheets.

In addition, metal coatings play a crucial role in preventing these hoods, doors etc. from rust and oxidation. As a result, one of the primary elements driving the growth in demand for metal coatings has been the expanding vehicle count.

The automobile industry has recently been noted to consolidate, which has aided the sector is reacting to demand. This has resulted in an increase in the demand for metal coatings. A shift towards eco-friendly vehicles, with organic coatings, batteries and other materials/products, in the recent years has also jolted the demand for metal coatings. This may remain in continuation which will drive the demand for metal coatings amid 2022 & 2032.

How Rise in Metal-Based Applications in Construction Industry Shooting Up The Demand For Metal Coatings?

The construction industry is the one of the leading consumer of steel and iron, accounting for over half of total consumption. As a result of this, metal coatings demand from this sector accounts for more than 40% of total demand.

However, architectural end-use is holding more than 2/5th of the market share in the global metal coatings market. It is projected to show growth of 6.7% CAGR and generate an absolute dollar opportunity of USD 6.9 Billion by the end of 2032.

What are the other Metal Coatings Demand Drivers?

Steel output and consumption are increasing, albeit in varying proportions among countries. The global steel industry has been rising at a pace of about 1% per year, however, demand for metal coatings for steel applications has been growing at a faster rate.

Further, the global metal coatings market is estimated to rise significantly throughout the forecast period, as the use of metal coatings expands as a result of fast-developing urbanization and industrialization, which is the primary driver driving the global metal coatings market.

However, increased infrastructure construction and investment, particularly in the commercial and residential sectors, boost demand for coated metal end products, propelling the worldwide metal coating market forward. The benefits of metal coating, such as higher durability, corrosion resistance, and improved texture, drive the global metal coating market.

What are the Key Restraints in Global Metal Coatings Market?

The fixturing procedures in the metal coating market is very costly, which may increase the price of the metal coating process and limit the global metal coating market's growth. Moreover, stringent rules and regulations of various governments, as the waste produced by metal coating cleaning technique, is detrimental to the environment, which may also impede the growth of the global metal coating market.

Country-Wise Analysis:

What are the Growth Prospects of United Nations Metal Coating Market?

North American metal coating market is one of the significant market shareholders which has acquired nearly 2/5th of market share in the global metal coating market. The rise in research and development and consumer demand for vehicles, consumer appliances etc. have boosted the demand for metal coatings. These factors may remain the key factors to drive the demand for metal coatings.

Further, the United States metal coatings market is projected to acquire more than 3/4th market share with a 5.1% CAGR by the end of the forecast period. Moreover, it is likely to offer an absolute dollar opportunity of nearly USD 2.4 Billion.

How China Metal Coatings Market will Offer Opportunities?

China is the largest consumer of metal coatings in the East Asia region which has acquired nearly 3/5th market share. Further, China utilizes more than 40% of worldwide steel output, and so leads the market for metal coatings in architectural industry. The automotive sector in China has also been buoyant, which is further creating strong demand for metal coatings.

However, the growing end-use industries such as automotive, construction and others in China. This projected to boost the demand for metal coating and offer an absolute dollar opportunity of around USD 2.3 Billion by the end of 2032. China metal coatings market is estimated to show growth trajectory with 9.4% CAGR amid 2022 & 2032.

Category-Wise Analysis:

How Polyurethane and polyester-based metal coatings leads the demand?

Polyurethane and polyester-based metal coatings account for more than 20% of metal coatings demand. Plastisol, siliconized polyester, fluoropolymer, epoxy, and acrylic are some additional notable metal coatings.

One of the primary reasons for coil metal coating's great demand is its benefits. Because the process is continuous and highly automated, the quality of the paint finish is always great with coil metal coatings. Coil metal coating offers a uniform thickness and looks within tight tolerances.

Why Demand for Liquid Metal Coatings is increasing?

Metal coatings in liquid form have a bigger market share than metal coatings in powder form. Metal coatings process leads to the need for process coil with a market share of more than 40%. The liquid form is highly used in the automotive and construction industry owing to automatic processes and machines.

Liquid paints are applied in two layers in coil coating – primer and topcoat. A topcoat system typically has a gauze of around 20 micrometers. For high endurance needs, both primer and topcoat can be used at higher gauzes.

Powder metal coating is required to mix with the proper quantity of other material to form balanced mixtures which are a little complex and time-consuming process. To avoid complexity and save time, more than 74% of consumers use liquid metal coatings. Owing to abovementioned factors, the demand for liquid metal coatings remain in growth.

Competitive Analysis:

The competition in the metal coating business becoming more intense. Because of the region's significant growth prospects, the majority of the key players have been focusing on Asia-Pacific. Some of the key metal coatings players have started acquiring companies along the value chain in order to boost their overall portfolio.

Market Segments Covered in Metal Coatings Market Analysis:

• By Product Type :- 

  • Fluoropolymers
  • Polyurethanes
  • Polyester
  • Plastisol
  • Siliconized Polyester
  • Others (epoxy, acrylic)

• By Process :-

  • Coil
  • Extrusion
  • Hot Dip Galvanizing

• By Form :-

  • Liquid
  • Powder

• By End-Use :-

  • Architectural
  • Automotive
  • Consumer Goods & Appliances
  • Protective and Marine
  • Others (Wind power, solar power, packaging)

• By Region :-

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa