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 region is likely to influence the sales of metal coatings in the forthcoming years. China and India are the countries driving most of the demand in the metal coatings market. The demand for metal coatings with fewer layers and lower cure temperatures is also increasing by the industrial coatings customers. With new regulations, demand for the eco-friendly metal coatings with low or zero VOC is also visible in the 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, this is likely to result in some interesting opportunities for metal coatings companies worldwide.
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 aerospace, automotive, and semiconductor industry, 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 coating on cookware.
The architectural industry is likely to use metal coatings on a large scale mainly in steel and aluminum substrate. Innovation in steel technology, with the development of lightweight and composite steels, has led to the rise in steel based structures. While the constant threat of corrosion of steel structures is driving the demand for metal coatings imparting 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 have increased as compared to the liquid metal coatings made using solvents and emitting VOCs. Meanwhile, a new generation of power metal coatings is also under development providing capability of liquid coatings.
The global demand is expected to reach 6.5 percent CAGR during the forecast period, 2018-2027.