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Industry Insights, Market Size, CAGR, High-Level Analysis: Pre Painted Metal MarketThe global pre painted metal market size was USD 13.3 billion in 2018 and is anticipated to witness a CAGR of 11.2% from 2019 to 2025. Growth of the construction industry in emerging economies of Asia Pacific is expected to generate significant demand for pre-painted metal in the form of sheets and coils on account of increased corrosion resistance. Pre-painted metal sheets provide a combination of high strength, formability, and joint-ability along with excellent corrosion resistance. Hence, they are the most preferred materials in the construction industry, particularly in roofing and walls. Moreover, advantages of the product such as relative durability of the coating and recyclability make them suitable in various other applications such as automotive, consumer electronics, HVAC, and furniture. Its ability to get into almost any shape, excellent weathering resistance for superior longevity, availability in numerous colors, and no environmental pollution, make it suitable in both exterior and interior construction applications. Increasing construction spending along with infrastructure development in various countries is anticipated to drive the market for pre-painted metal over the coming years. Central and South America plans to invest USD 4.5 trillion in infrastructure development by 2028. This is likely to drive the market for pre-painted metal over the coming years. Pre-painted metal is produced using coil coating process which includes cleaning, heating, and coating tools and equipment. The high maintenance cost of these tools and equipment increases the cost of the manufacturing process, resulting in high prices of pre-painted metal. Thus, consumers prefer home appliances that require fiber or plastic for fabrication that are less expensive than pre-painted metal. This is anticipated to hamper market growth over the coming years.
Product Insights of Pre Painted Metal MarketOn the basis of product, the pre painted metal market is segmented as steel and aluminum. Steel accounted for more than 76.3% of the market revenue share in 2018 owing to its greater resistance towards drying out, warping, and cracking in comparison to aluminum. Also, its light weight advantage further increases it usage, especially during renovation, as it is easy to install. Aluminum is the fastest growing segment owing to its properties such as lightweight and high strength as compared to steel. It is used in outdoor architectural applications such as facades as it is weather, UV, and seawater resistant. The only disadvantage of pre-painted aluminum is that it costs more than twice of raw aluminum.
Application Insights of Pre Painted Metal MarketPre-painted metal is used in a variety of applications including construction, transportation, consumer electronics, and others. Construction was the largest segment accounting for a revenue share of nearly 40.6% in 2018. Increasing investment in infrastructure development is anticipated to drive the market for pre-painted metal over the coming years. It is used in gutters, partitions, roofing structures, facades, cladding system, ceiling systems and a variety of ancillary components. In the transportation sector, pre-painted metal is used for manufacturing electric vehicles. It is also used in components such as body-in-white of cars, oil filter caps, and wiper blade assemblies, thus providing a high-quality base for customized automotive paint coatings. According to the International Energy Agency, the global sales of electric vehicles is anticipated to reach 23 million by 2030, which is turn is expected to propel product demand over the coming years. The consumer electronics segment is anticipated to witness a CAGR of 6.8% in terms of volume from 2019 to 2025. The growth is attributable to increasing demand from refrigerators, freezers, washing machines, toasters, and DVD players. According to India Brand Equity Foundation, sales of appliance and consumer electronics in India is anticipated to reach USD 48.37 billion by 2022. This is likely to boost the utilization of pre-painted metal over the coming years.
Regional Insights of Pre Painted Metal MarketAsia Pacific was the second largest segment accounting for a revenue share of 33.0% in 2018 owing to rise in construction and transportation industries. Rapid urbanization along with increasing disposable income in countries such as China and India is anticipated to drive demand for residential, commercial, and industrial infrastructure. Low interest rates on housing loans in these countries is further expected to boost the construction industry in the region. Low labor costs and favorable FDI norms in Asia Pacific is encouraging automotive OEMs to shift or expand their production base in China, India, and Japan. Increasing production of automotive in these countries is likely to increase the utilization of pre-painted metal over the coming years. North America is expected to exhibit a CAGR of 9.2% in terms of volume over the coming years. The growth is attributable to rising infrastructural developments and rise in automotive production in the region. In North America, the number of new or upgraded continuous coil painting lines are increasing rapidly to serve these end-use industries. The U.S. government initiative such as Zero Emission Vehicle (ZEV) program is likely to drive demand for light weight vehicles in the country, which in turn is likely to fuel the automotive industry growth. This is anticipated to drive the product demand over the coming years. Europe is among the fastest growing segments in the market for pre-painted metal owing to the established automotive industry and the growing construction industry. According to Euroconstruct, the construction output in the region grew by 3.1% in 2018 and is expected to witness a moderate growth over the coming years. This is likely to propel market growth over the coming years.
Market Share Insights of Pre Painted Metal MarketKey market players including ArcelorMittal, Tata BlueScope Steel, Haomei, SSAB, Nippon Steel Corporation, UNICOIL, MMK Group, Impol, and NLMK are adopting strategies such as capacity expansion and mergers and acquisition to enhance their market share and meet the growing demand from potential customers. For instance, In July 2019, ArcelorMittal Dofasco (Canada) announced to invest in a project to modernize the hot strip mill. In the project, the company plans to replace three end of life coilers with state of the art coilers and runout tables. The project is expected to be completed by 2021.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Pre Painted Metal Market Research ReportThis report forecasts revenue growth at global, regional, and country level and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global pre painted metal market report on the basis of product, application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
- Consumer electronics
- Other applications
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumption 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...