Metal coatings Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Metal Coatings Market Outlook -2027

Metal coating is a technique to separate a structural metal from a corrosive environment. Such metal coatings have high demand in industries such as automotive, commercial, and marine. Metal coatings are corrosion-resistant and reduce wear and tear of metals. By coating the metal, an extra layer of protection is provided to the metal. Metal coatings are often made from polymers such as epoxy, polyurethane, and moisture urethane. 

COVID-19 scenario analysis

• The decline in industrial activities of transportation due to the outbreak of the pandemic is anticipated to hamper the growth of the metal coating market.
• In addition, insufficiency in raw material supply will affect the production rate of metal coating market, thus impacting the metal coating supply chain management.
• Owing to extended lockdown, trade fairs have postponed. For instance, according to MinskExpo, JSC “Mechanical Engineering-2020,” “Corrosion protection Coatings-2020,” “LitMetExpo-2020,” and “Welding and Cutting-2020” have been postponed to September 15-18, 2020.
• High dependency on China for powder coatings will impact the market growth. China holds significant market share in powder coatings export followed by Korea, France, and Germany. owing to limited production capacity in China during this lockdown period, increase in supply–demand gap may hinder the growth.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis:

Expansion of the automotive, construction, and building industriesis the major key factor driving the growth of the metal coating market. The demand for metal coating is increasing globally due to rapid infrastructural development in emerging countries. Government projects favoring the rise in building and construction will further drive the demand for metal coatings. However, negative impact of metal coating on the environment is anticipated to hamper the growth of the metal coatings market during the forecast period. 

The global metal coating trends are as follows:    

New product launches to flourish the market

New products that exhibit improved capabilities have been launched by leading market players. For instance, in June 2020, Axalta (NYSE: AXTA) launched its Strenex industrial product line which includes waterborne and solvent-borne single-component alkyd and acrylic metal coatings products. This reduces production time and overall production cost. This is majorly used in metal coatings for construction, industrial, and fabrication. The new product launch expanded company’s market presence in North America, targeting new customer segments. In addition, partnerships, acquisitions, and agreements are the key strategies adopted by major manufactures to sustain their position in the competitive landscape. Thus, these players focus on producing metal coatings on a domestic level and operate by exporting to other regions to expand their business.

Surge in usage in automotive, aerospace, and industrial applications 

Increase in application of industrial and automotive coatings in steel and construction industry, owing to its anti-corrosive property is expected to steer the market growth. Powder coating is widely used in industrial applications due to environmental friendly nature and its lower VOC content. In addition, powder coating used in automotive and industrial applications create a more durable layer compared to other types of coatings. However, lower cost and simple process for liquid coating make it a suitable choice for car painting.

Key benefits of the report

• This study presents the analytical depiction of the global metal coating industry along with the current trends and market estimation to determine the imminent investment pockets.
• The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of themetal coating market share.
• The current market is quantitatively analyzed to highlight the metal coating market growth scenario.
• The report provides a detailed market analysis dependingon competitive and how the competition will take shape in coming years.
• This report helps users in comprehending the key product segments and their future.

Questions answered in the global metal coating market research report:

• Which are the leading players active in the global metal coating market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities ofthe market?
• What should be the response of the metal coating market players amid the COVID-19 pandemic?
• What are the projections for the future that would help in taking further strategic steps?
• What is the outlook of the industry?
• What are the emerging key segments in the metal coating market?
• What are the major changes and assessments in metal coating market dynamics?

 Metal coatings Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights