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Market research analysts at Technavio predict that the global metal coatings market will grow steadily during the forecast period and post a CAGR of about 6% by 2021. This market research analysis identifies the growth in automotive sector as one of the primary growth factors for this market. The market has recovered significantly due to the improving economic conditions, decreasing price trends, and urbanization which are creating demand for new vehicles. Since large quantities of aluminum extrusions and cold-rolled sheets are used to manufacture vehicle bodies, this increasing demand for new vehicles will subsequently boost the demand for metal coatings.
According to our metal coatings industry analysis, the replacement of fluoropolymer (PVDF) coatings with powder coating as one of the primary trends behind the growth of this market. Powder coatings have been adopted as an appropriate alternative to PVDF due to their thicker coating and ability to prevent chipping and provide good adherence. The attractive display options in various colors, finishes, and textures are preferred by the customers over the costly matte finish of the PVDF coatings. Furthermore, powder coating also provides protection against corrosion and emits zero volatile organic compounds.
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Due to the presence of several key vendors, this market appears to be highly fragmented. The large vendors with strong geographical positions are competing against strong small vendors with reasonable market share. Many vendors also provide support services in addition to manufacturing products which aids them to gain competitive advantage and enhance customer relations. The services offered by vendors include the development of customized colors, testing the applicability of coatings on the paintline, logistics, analytical, and consulting services.
The leading vendors in the market are -
The other prominent vendors in the market are Jotun, Kansai Paint, Nippon Paint, Sika, and Valspar.
During 2016, the coated coils segment accounted for the major shares and dominated this market. Coated coils mainly used in the industrial and automotive sectors and are produced from polyester resins that form highly durable structures and coatings. Polyester coatings are the most widely used coil coatings globally as the soft and sticky coating is beneficial in the coatings industry. Additionally, polyester coil coatings are also resilient and stable and have the ability to retain color.
During 2016, the building and construction segment dominated the market due to its corrosion resistant properties. The coatings protect metals from elements, such as sunlight, moisture, ultraviolet (UV) radiations, and microbes. These metal coatings are formulated using various resins polyesters, plastisol, siliconized polyester, fluoropolymer, and polyurethane. The demand is mainly triggered by the increase in the construction of houses due to urbanization.
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Metal coatings are coatings applied to both metal and non-metal surfaces such as glass, wood, ceramics, foam, concrete, and resin for decorative or functional purposes. The report on metal coatings is an essential part of Technavio's chemicals and materials industry, which provides a wide array of industry research report on related industries as metals and minerals, additives, adhesives, and sealants, and bio-chemicals and bio-materials markets. The upcoming report on the global metal coatings market provides the client with ample information on the market size, growth rate, and emerging markets to devise effective business strategies.
Technavio dwells in exhaustive primary and secondary research, by collecting accurate data and insights from manufacturers, construction companies, consumers, vendors, and other key stakeholders. The upcoming report on the global metal coatings market also considers the growth of the global emulsifier market and global thermal sprays, which are expected to grow at a CAGR of 7% and 8%, respectively, for the forecast period of 2017 to 2021. The growth of emerging markets in the housing sector, as well as the automotive sector for appearance enhancements and HVAC applications, is expected to drive growth in this market.
The upcoming report on the global metal coatings market also takes into account key influencing factors such as key market drivers, emerging trends, emerging applications, and opportunities and challenges faced by the industry. The report also considers the growth of glass and ceramics, agrochemicals and fertilizers, olefins, and chemical engineering equipment.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by production process
PART 07: Market segmentation by end user
PART 08: Geographic segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
Tags: powder coating, ceramic coating, polyurethane resin, coatings, chemicals and materials market forecast, paints, coatings, and pigments market size,
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