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Metal coatings are the coatings, which are applied over metals for protecting them from corrosion and reduce wear and tear. The process such as coil coating, extrusion coating, and hot-dip galvanizing is mainly used in metal coatings. In these methods, the metal is processed as the entire surface is washed and given closely bonded finishes before the fabrication of metal into final products. The resins such as polyester, plastisol, siliconized polyester, fluoropolymer, and polyurethane are mainly used in metal coating. Additionally, the metal coating offers durability, smoothness, cost-effective, and eco-friendly properties. These benefits surge the product demand in the building & construction, automotive & transportation, consumer goods & appliances, marine, and protective coatings.
The metal coating market is growing at a rapid pace owing to increasing its demand from the construction and automotive industries. The properties such as improved texture, corrosion or oxidation resistance, high adhesion, optical, and wear resistance makes metals coatings a sustainable choice. In the construction industry, the product is adopted in the windows and doors applications. Whereas, in the automotive industry, product consumption can be seen in various automotive parts. The rapid infrastructure development in various countries coupled with rapid growth in the automotive industry will contribute to fuel market growth.
However, fluctuation in the prices of metal coatings impacts the overall demand and restricts its adoption in various applications. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
The rising demand of metal coatings from automotive and construction industries will drive the market growth.
Key Market Restraint -
Fluctuation in the prices to hamper the market growth
Based on resin type, the metal coatings market is segmented into polyester, plastisol, siliconized polyster, fluoropolymer, polyurethane, and others. Based on process, the market is segmented into coil coating, extrusion coating, hot-dip galvanizing. Based on end-use industry, the market is segmented into building & construction, automotive & transportation, consumer goods & appliances, marine and protective coatings, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the metal coatings market include E.I. du Pont de Nemours and Company, PPG Industries, Axalta Coating Systems., AkzoNobel N.V., Nippon Paint Holdings Co., Ltd., Henkel AG & Co., KGaA, The Sherwin-Williams Company, The Valspar Corporation, BASF SE, Kansai Paint Co., Ltd., Wacker Chemie AG, and The Becker Group, Ltd.
Asia Pacific is anticipated to witness the highest growth in the metal coatings market. The growth is attributed to the rising product demand in the construction industry. Further, the rising urbanization coupled with infrastructure development in countries such as China, India, and Japan will fuel the market growth in this region. In North America, the growth is due to increasing plastisol demand as a metal coating in the marine & protective coatings application. In Europe, the growth is due to, increasing use of the product in the automotive industry. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of the polyurethane-based metal coting in the consumer good & appliances.
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By Resin Type
By End-Use Industry
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