Apr 08, 2020 (Heraldkeepers) -- Market Research Future Published a Half Cooked Research Report on Global Metal Coatings Market Research Report - Forecast to 2023
Global Metal Coatings Market is growing continually, mainly due to the wide applications of these coatings across some of the rapidly developing industries such as automotive, aerospace, and marine. Also, owing to their corrosion and weather resistance properties, metallic coatings are applied in on a range of machinery that has to confront exposure to the various chemicals and heating conditions continually. Resultantly, Metal Coatings find their extensively uses in O&G and automotive industries.
Subsequently, the Metal Coatings Market usually witnesses a rising demand throughout the year and is expected to become a vastly expanded space in the years to come. According to Market Research Future (MRFR), Global Metal Coatings Market is estimated to witness significant growth by 2023, posting a phenomenal CAGR over the forecast period (2018 to 2023). Augmenting demand from the burgeoning automotive industry acts as a major driving force for the market growth.
Additionally, factors such as rapid industrialization & urbanization, increasing demand for solvent-free coatings, and continuous growth in the manufacturing sector, substantiate the growth of the market. Moreover, the high consumption of metal coatings alongside the shifting trend of replacing conventional solvent-based coatings with powder coatings in various end-use industries is projected to foster market growth. Rising consumer disposable income is a key factor impacting market growth positively.
On the other hand, price volatility and the demand-supply gap in the raw materials required for the production of metal coatings are major factors impeding the growth of the market. Also, factors such as high energy consumption needed for the production processes of Metal Coatings are likely to challenge the market growth over the anticipated period.
Nevertheless, rising concerns towards the ill effects of volatile organic compounds (VOC) and the stringent regulations imposed by various government bodies would support the market growth throughout the forecast period. Also, the increasing usages of Metal Coatings in the manufacturing of a number of electronics & electrical parts are predicted to fuel the market growth, augmenting the demand for Metal Coatings over the assessment period.
Global Metal Coatings Market - Competitive Analysis
Highly Competitive, the Metal Coatings Market appears to be fragmented, characterized by the presence of numerous players. To gain a larger competitive share in the market, mergers & acquisitions, collaborations, expansions, and product/technology launch remain key strategies for these players. Since, the product & technology launch- based competition is trending, these fervent players initiate R&D activities.
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They invest substantially in developing futuristic coating materials & techniques. With increasing industrialization and advances in technologies, manufacturers are setting up facilities to produce metal coatings most efficiently.
Players Leading the Global Metal Coatings Market include Kansai Paint Co., Ltd (Japan), Toefco Engineered Coating Systems, Inc. (US), BASF SE (Germany), Nippon Paint Holding Co., Ltd (Japan), DowDuPont (US), AkzoNobel NV (The Netherlands), PPG Industries, Inc. (US), Beckers Group (Berlin), The Valspar Corporation (US), Henkel AG & Co., KGaA (Germany), Axalta Coating Systems (US), and The Sherwin-Williams Company (US), among others.
February 17, 2020 — PPG Industries, Inc. (the US), a leading global supplier of paints & coatings materials, announced that it is to acquire a Us-based coating company Alpha Coating Technologies, LLC. The addition of Alpha's best-in-class service, technology, and quick turnaround color matching capabilities is a strategic complement to PPG to continue providing its customers with outstanding products & services.
Alpha focuses on the development, manufacture, and sale of powder coatings for light industrial applications, medium-density fibreboard, and heat-sensitive substrates, and toll manufactures powder coatings for metal. Expected to close in the first quarter of 2020, the transaction is subjected to customary closing conditions.
Metal Coatings Market - Segmentation
The analysis is segmented into five major dynamics.
By Form: Liquid (water-based, solvent-based, others) and Powder.