Global metal coatings market projected to reach $19.8 billion by 2033, driven by various industries
From GlobeNewswire: 2024-04-10 14:00:00
The Global Metal Coatings Market is projected to grow from USD 11.89 billion in 2023 to USD 19.8 billion by 2033, with a Compound Annual Growth Rate (CAGR) of 5.23%. Metal coatings protect against rusting and corrosion, with applications in industries like automotive, aerospace, construction, and manufacturing. Market growth is driven by construction projects, rising consumer disposable income, and demand for aesthetically pleasing finishes.
The polyester segment is expected to dominate the global metal coatings market, offering a high-quality finish and a thin, uniform layer. Water-borne coatings, with fewer harmful volatile organic compounds (VOCs), are projected to grow rapidly due to their environmental benefits. The building & construction sector is set to hold the largest share, benefiting from increased durability and corrosion resistance provided by metal coatings.
North America is forecasted to lead the global metal coatings market, driven by environmental standards and technological advancements. Asia Pacific is expected to grow rapidly due to industrialization and a growing automotive sector. Key players in the market include Akzo Nobel, Axalta Coating Systems, BASF, Jotun Group, PPG Industries, and more. Recent developments include capacity increases and initiatives to address regional demand.
Spherical Insights offers in-depth analysis and forecasts for the Global Metal Coatings Market, covering resin types, technologies, end-users, and regional insights for North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Other related reports by Spherical Insights include the Global Ceramic Balls Market, Fly Ash Market, Geofoam Market, and Permanent Magnet Market. Spherical Insights provides actionable market research for decision-makers across various industries, delivering forward-looking insights and ROI.
Read more at GlobeNewswire: Global Metal Coatings Market Size To Worth USD 19.8 Billion