Global Metal Coatings Market 2017-2021
About Metal Coatings
Metal coating is a layer of metal applied to the surface of any object for enhancing its appearance, durability, and corrosion and wear resistance, thereby increasing its value.
Technavio’s analysts forecast the global metal coatings market to grow at a CAGR of 6.05% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global metal coatings market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Metal Coatings Market 2017-2021
Technavio recognizes the following companies as the key players in the global metal coatings market: AkzoNobel, PPG Industries, RPM International, Sherwin Williams, and Henkel.
Other Prominent Vendors in the market are: Jotun, Kansai Paint, Nippon Paint, Sika, and Valspar.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is introduction of smart coatings. Smart coatings are defined as coatings that have the ability to modify their properties dynamically based on the external environment. These coatings sense the external environment and respond accordingly. They also possess self-healing, super-hydrophobicity, self-stratifying, sound proofing, and vibration damping properties. Smart coatings are mostly used in the automotive industry due to the high reflectivity of infrared radiation, which in turn keeps the interiors cool. The US Army Smart Coating Material Program has aimed to investigate coatings to reduce cost, equipment downtime, and maintenance burdens.”
According to the report, one of the major drivers for this market is growth in automotive sector. The demand for automobiles is increasing every year. The industry started to revive with the recovery from the global crisis of 2012. China’s automobile production has increased significantly with the improving economic conditions, decreasing price trends, and urbanization, which are creating the demand for new vehicles.
Further, the report states that one of the major factors hindering the growth of this market is glass façades reducing use of coil coatings. Glass façades are replacing coil coatings in the building and construction industry due to their energy efficiency. There have been drastic improvements in glass cascades to eliminate the excess heat generated by coil coatings. On the other hand, glass is resistant to UV light. Heating and cooling façades are also produced to conserve the energy required. It is also easy to manufacture a glass façade as it is produced in large batch production at a time, where the costs can be reduced. It is also cost-efficient when compared with coated coils.
AkzoNobel, PPG Industries, RPM International, Sherwin Williams, Henkel, Jotun, Kansai Paint, Nippon Paint, Sika, and Valspar.