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Metallic Oil Paint Market By product type (Solvent Based and Water based); By application (Automobiles, Construction, Furniture and Others) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Metallic paint is used widely for its ability to contour any object's bodywork. With the aid of small metal flakes, it produces a metallic surface that mimics the sparkling effect. Flakes reflectivity and size determine the difference in reflected light on the material. New, advanced methods have enhanced the texture and pigment. Metallic paints add a top coat of acrylic polyurethane to give extra gloss and protection. For aesthetic purposes, the visual experience of metallic shine is very challenging. The size and shape of the added metals are determined by the producers according to demand. Because of its incident light reflectivity capabilities, it is favored over traditional paint colors. It has the potential to more easily conceal minor damages than solid paints. Owing to its perfect particle size and weight, metallic oil paints are used the most in automobiles. Metallic oil painting is used to paint steel structures as it increases steel resistance and provides a protective coating. It helps to minimize heat and saves the cost of energy while prolonging its life.
The Metallic Oil Paint Market size was registered at USD 0.82 billion in 2019 and is estimated to reach USD 1.2 billion by 2030, registering a CAGR of 2.7% from 2020 to 2030. Metallic oil paints sold by companies such as Asian Paints, Plascon, Shanghai Sanvin, and Meoded among others are marketed with a multi-year corrosion warranty, mainly due to improvements in coating efficiency. In addition, manufacturers are increasingly bringing new, environmentally friendly goods into the market to boost performance. Consequently, the implementation of new technology has improved the efficiency of metallic oil paints. The size and shape of the added metals are determined by the producers according to demand. Because of its incident light reflectivity capabilities, it is favored over traditional paint colors which boost the market demand.
Source: Fatpos Global
By product type, the market can be segmented into Solvent Based and Water-based.
Water-based paints often have longevity and consistency which is higher than solvent-based paints, with environmental compliances. Water-based paints are the perfect choice of paints for your home interiors, while solvent-based paints are only appropriate for exteriors with more regular changes in dirt and temperature.
The application segment can be classified into Automobiles, Construction, Furniture, and Others. The construction segment is expected to increase owing to the features of metallic oil painting which helps to protect the surface from factors like solar radiation, rain, insects, and other things. It is waterproof and increases the surface's visual appeal. It also helps to improve longevity on the floor.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Metallic oil paints sold by companies such as Asian Paints, Plascon, Shanghai Sanvin, and Meoded among others are marketed with a multi-year corrosion warranty, mainly due to improvements in coating efficiency. In addition, manufacturers are increasingly bringing new, environmentally friendly goods into the market to boost performance. Consequently, the implementation of new technology has improved the efficiency of metallic oil paints. The size and shape of the added metals are determined by the producers according to demand. Because of its incident light reflectivity capabilities, it is favored over traditional paint colors. It has the potential to more easily conceal minor damages than solid paints. Owing to its perfect particle size and weight, metallic oil paints are used the most in automobiles. Metallic oil painting is used to paint steel structures as it increases steel resistance and provides a protective coating. It helps to minimize heat and saves the cost of energy while prolonging its life which also acts as a driving agent in the market.
As regards volume, APAC represented the largest market for metallic oil paints. The growing population in the area is projected to make this area an ideal destination for the industry, followed by increasing investment in the industrial sector and infrastructural developments in the emerging markets of China, India, and Indonesia. China is expected to lead the global metallic oil paint industry, as it is the world's largest automotive producer. China is also the construction industry's leading area which is further expected to boost the demand of the market for metallic oil paint. Europe is highly regulated to ensure a high degree of protection of the environment and human health against the threats posed by chemical substances. Moreover, strict regulations have limited the suppliers of formulators and raw materials.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
Metallic oil paints sold by companies such as Asian Paints, Plascon, Shanghai Sanvin, and Meoded among others are marketed with a multi-year corrosion warranty, mainly due to improvements in coating efficiency. In addition, manufacturers are increasingly bringing new, environmentally friendly goods into the market to boost performance.
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