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Pre-Painted Steel Market By resin type (Hot Dip Galvanized Steel (HDG), Galvanized Mild Steel (GMS) and others); By application (Construction, Transportation, consumer electronics and other applications) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Pre-Painted Metal is a metal on which coil coating is added to the coating material. As the coil coating is applied to the metal, the coating material forms a film that has defensive, decorative, and special properties. The most widely used metal substrates for coil coating on the metal is steel and aluminum. The coated surface is available in several colors, gloss levels, and textured surfaces.
Pre-Painted Metal Market size was registered at USD 11.6 billion in 2019 and is estimated to reach USD 25 billion by 2030, registering a CAGR of 8.1% from 2020 to 2030. Advanced building technologies like 3D printing and business information modeling are gaining rapid popularity in the engineering and construction sectors. This development is also expected to have a positive impact on demand for pre-painted Metal in industrial buildings in the years ahead. Low-interest rates on housing loans in these countries are expected to further fuel the region's construction industry. In APAC, low labor costs and favorable FDI norms encourage automotive OEMs to move or extend their production base in China, India, and Japan. Increasing car production in these countries is likely to increase pre-painted Metal consumption over the coming years.
Source: Fatpos Global
By type, the market can be segmented into Steel and Aluminum.
Steel accounted for the largest market share of sales due to its greater drying, warping, and cracking resistance relative to aluminum. In addition, its lightweight advantage further increases its use, as it is easy to mount, particularly during renovations. Aluminum is the fastest-growing segment as opposed to steel due to its properties such as lightweight and high resistance. It is used in architectural outdoor applications such as facades, as it is resistant to heat, UV, and seawater. The only downside to pre-painted aluminum is that it costs more than twice as raw aluminum as possible.
The application segment can be classified into Construction, Transportation, Consumer electronics, and other applications.
Construction was the highest revenue Share group. Growing investment in infrastructure construction is anticipated to boost the demand for pre-painted Metal over the coming years. It is used in a number of ancillary components in gutters, partitions, roofing structures, facades, cladding systems, ceiling systems and. Pre-painted metal is used in the automotive sector for the production of electric vehicles. It is also used in components such as car body-in-white, oil filter caps, and wiper blade assemblies and thus offers a high-quality basis for personalized automotive paint coatings
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
Growing residential and non-residential construction activities and development demand for Metal products as building materials will promote growth for the Prepainted Metal market. Rising infrastructure spending on roads, bridges, buildings, and public services would also complement the overall market value. Additionally, advanced building technologies like 3D printing and business information modeling are gaining rapid popularity in the engineering and construction sectors. This development is also expected to have a positive impact on demand for pre-painted Metal in industrial buildings in the years ahead. The upsurge in government-supported and private-financed smart city programs would increase product utilization. Builders rely on the quality of the construction materials to create a solid building foundation. Increasing use of the product in the construction of residential buildings will have a positive impact on market trends in the market.
Pre-painted metal is manufactured using a method of coil coating that involves tools and equipment for the washing, heating, and coating. The high cost of maintenance of these tools and equipment raises the cost of manufacturing operation, resulting in high pre-painted metal prices. Consumers thus prefer home appliances that need less costly fiber or plastic to produce than pre-painted metal. This is likely to hinder business growth in the years to come.
Growing residential construction worldwide due to increasing income levels and urbanization in the APAC region has led to increased building projects. Builders rely on the quality of the construction materials to create a solid building foundation. Increasing use of the product in the construction of residential buildings will have a positive impact on market trends in pre-painted Metal. Rapid urbanization along with increased disposable income is expected to boost demand for residential, commercial, and industrial infrastructure in countries such as China and India. Low-interest rates on housing loans in these countries are expected to further fuel the region's construction industry. In APAC, low labor costs and favorable FDI norms encourage automotive OEMs to move or extend their production base in China, India, and Japan. Increasing car production in these countries is likely to increase pre-painted Metal consumption over the coming years.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
In order to broaden their product range and increase their regional presence, manufacturers are involved in product launches, developments, and collaborations along with support from government regulations, which may enable acquiring firms to leverage the long-term pre-painted Metal market.
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