Demand in Asia Stimulates Growth of Metal Coatings Market
DUBLIN, Ireland — The metal coatings market is projected to witness robust growth in the coming years, the demand is likely to surpass 6,000’000 tons by the end of 2018, according to the latest report by Fact.MR. The growth of the metal coatings market is largely influenced by the immense growth in the construction and automotive industry coupled with rising urbanization.
The substantial growth of new construction projects in the APEJ (Asia-Pacific Excluding Japan) region is likely to influence the sales of metal coatings in the coming years. China and India are the countries driving most of the demand in the metal coatings market. The demand from industrial coatings customers for metal coatings with fewer layers and lower cure temperatures is also increasing. With new regulations, demand for the eco-friendly metal coatings with low or zero VOC is also visible in APEJ region. China is also planning to charge a tax on VOC emission for solvent-based paints and coatings.
The coating companies in China are also focusing on developing smart metal coatings for various industries. Meanwhile, research and development activities are also going on in the country, which is likely to result in some interesting opportunities for metal coatings companies worldwide.
Fluoropolymers Hold Largest Share in Metal Coatings Market
Providing excellent chemical and corrosion resistance, fluoropolymers are finding large application across various industries. The growth of fluoropolymers in metal coatings market is likely to remain positive with the demand exceeding 1,000’000 tons by 2018 end, as per the study.
Fluoropolymers coatings are finding large application in architectural coatings exhibiting low surface energies, high resistance to water, chemicals, oils and UV radiation, especially in exterior application.
Manufacturers in the metal coatings market are also focusing on designing new products to address concerns associated with perfluorooctanesulfonic acid and perfluorooctanoic acid found in many fluoropolymer chemicals. Owing to the need and manufacturing of lightweight materials in the aerospace, automotive and semiconductor industries, the demand for fluoropolymers is increasing in these industries.
Meanwhile, manufacturers have also started developing green fluoropolymers in response to the growing environmental impacts of various chemicals used in metal coatings. The demand for high-performance fluoropolymers is also rising with the large application in electronics and non-stick coatings on cookware.
Metal Coatings to Find Large Application in Architectural Industry
The architectural segment is likely to use metal coatings on a large scale, mainly in the steel and aluminum substrates. Innovation in steel technology, with the development of lightweight and composite steels, has led to the rise in steel-based structures. The constant threat of corrosion of steel structures is driving the demand for metal coatings that provide anti-corrosion properties.
The use for metallic coatings and paints has also surged in the construction industry in order to provide a striking and vibrant surface effect. The rise in the use of standard metals, including brass, aluminum, copper and iron, in the architectural and interior design projects has led to the increased demand for non-toxic and durable metal coatings.
Liquid fluoropolymer coatings have been used for a long time in the construction of buildings in North America. However, with the growing trend of green building construction, especially in North America, the use and demand for metal coatings in powder form has increased when compared to liquid metal coatings that use solvents and emit VOCs. Meanwhile, a new generation of power metal coatings are also under development that will provide the same capability as liquid coatings.
The growth in the metal coatings market is likely to remain robust. The global demand is expected to reach a 6.5% compound annual growth rate during the forecast period of 2018-2027.
For more information about the study, Metal Coatings Market, visit https://www.factmr.com/report/2381/metal-coatings-market.