Architectural Metal Coatings Global Market Report 2023
Major players in the architectural metal coatings market are The Sherwin Williams Company, PPG Industries, AkzoNobel, Axalta Coating Systems, Nippon Paint Holdings, Kansai Paint, Hempel A/S, Jotun, BASF SE, Beckers Group, WACKER CHEMIE AG, NOROO Coil Coatings, Titan Coatings, Jinhu Color Powder Coating Co.
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Architectural Metal Coatings Global Market Report 2023" - https://www.reportlinker.com/p06325449/?utm_source=GNW
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The global architectural metal coatings market grew from $4.97 billion in 2022 to $5.25 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The architectural metal coatings market is expected to grow to $6.56 billion in 2027 at a CAGR of 5.7%.
The architectural metal coatings market consists of sales of architectural metal coatings such as galvanized aluminum, copper and silver.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Architectural metal coatings extend the architecture’s longevity and protect it from the environment by providing a protective layer to the surface.Metal coatings are utilized in renovations and are simple to keep and clean.
Indoor wall and ceiling coverings can be made of metallic coatings.Metal coatings, especially exterior coatings, offer excellent protection against UV rays.
Architectural metal coatings are used to coat pavements, curbs, portable buildings, stationary structures, and their appurtenances at the installation site, and permanent structures.
Asia-Pacific was the largest region in the architectural metal coatings market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the architectural metal coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of resins for architectural metal coatings are polyester, fluoropolymer, polyurethane, and other resins.The polyester architectural metal coating refers to a powder coating made of polyester used on aluminum extrusion and sheets, steel, and galvanized steel substrates.
Polyester architectural coating satisfies the demands of the construction sector because of its superior mechanical and exterior durability. The coil coatings in architectural metal coatings include roofing and cladding, wall panels and facades, fascia and soffits, and other coil coatings that are used in extrusion coating of curtain walls, storefront, doors and windows, and other extrusion coatings.
The increase in infrastructure construction and investment is driving the architectural metal coatings market.Construction has been on the rise due to rapid industrialization and urbanization across both developed and developing nations.
Architecture construction requires metal coatings to protect them from corrosion and harsh weather, it also gives the newly constructed buildings an aesthetic and attractive look. For instance, according to the U.S. Census Bureau report on monthly construction spending in 2022, the construction spending was expected to be $1,744.8 billion in April 2022, a 0.8% rise from the revised March estimate of $1,740.6 billion. Therefore, the increase in infrastructure construction and investment is expected to boost demand for architectural metal coatings during the forecast period.
Technological advancement is a key trend gaining popularity in the architectural metal coating market.Major companies in the architectural metal coating market are advancing towards sustainable and eco-friendly coatings to protect the health of the users and the environment.
Architects and specifiers are looking for architectural metal coating alternatives that combine sustainability, toughness, and a wide range of colors.For instance, in September 2021, Allnex, a Germany-based chemical manufacturing company that produces industrial coating resins and additives for architectural, industrial, protective, automotive and special purpose coatings and inks, launched ECOWISE CHOICE.
ECOWISE CHOICE is an environment-friendly product line for use in construction and home decoration. By utilizing ecologically friendly technologies like waterborne, UV-curable, powder, and formaldehyde-free crosslinking solutions, Allnex is focused on enhancing its presence in sustainability of buildings worldwide.
In April 2020, Akzo Nobel, a Dutch-based chemical company that manufactures performance coatings and paint, acquired Mauvilac Industries Limited for an undisclosed amount.As a result of this acquisition, AkzoNobel is focused on enhancing its presence in Sub-Saharan Africa, and maintaining its dominant position in the African decorative paints industry.
Mauvilac Industries Limited is a Mauritia US-based manufacturer of decorative and specialized paints and coatings.
The countries covered in the architectural metal coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The architectural metal coatings market research report is one of a series of new reports that provides architectural metal coatings market statistics, including architectural metal coatings industry global market size, regional shares, competitors with an architectural metal coatings market share, detailed architectural metal coatings market segments, market trends and opportunities, and any further data you may need to thrive in the architectural metal coatings industry. This architectural metal coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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