Pre-painted metal is anticipated to make inroads at a value CAGR of ~11% over 2019-2028. According to a study published by Insure Insights on the pre-painted metal market, The growing construction activities in developed and developing countries is anticipated to augment the demand in the global pre-painted metal market.
Top Driver: Rising demand for lightweight materials in automotive industry
The demand for passenger cars as well as electronic vehicles is increasing rapidly owing to the growing purchasing power of the consumers. Thus, with the growing automotive industry, the demand for the aluminum metal is increasing for manufacturing electric vehicles. Aluminum metals are used for manufacturing components such as oil filter caps, body-in-white of cars, heat sinks, spark plugs, valve plate, and wiper blade assemblies. Aluminum coil coatings are also used as polishing material for paint plastic and brake rims. The rough nature of aluminum, along with strong electrical and thermal properties, makes it essential for the automotive industry. The aluminum metal also offers a durable finish and high endurance against wear and tear, and the coating process reduces cost, time, and energy consumption while manufacturing electric vehicles. All such factors are expected to accelerate the growing demand for aluminum metal in the automotive industry.
Construction to Make Crucial Contribution to Growth of Global pre-painted metal Market
Among application segments of the global pre-painted metal market, construction is predicted to show significant growth in the future. The demand for steel metal is increasing majorly from the construction industry, and it is expected that the trend will continue with rising residential and commercial construction activities worldwide. In recent years there has been an increase in the construction of homes, hospitals, commercial buildings, hotels, and malls in countries such as India, China, Saudi Arabia, and the US. In the US, construction activities are increasing every year by 6%-8%. Thus, rising construction activities are expected to create the rising demand for pre-painted sheets of steel and aluminum for roofing structures, ceiling systems, facades, and cladding system.
Increasing use of Pre-Painted Meals in Multiple industries to Benefit North America Market
North American countries such as the US are generating major is a demand for pre-painted metals, and the trends in expected to continue during the forecast period. Automotive, construction, and transportation sectors are the major demand generation for pre-painted metals and sheets. In the region, the demand for electric vehicles and light vehicles are increasing for automotive paint coatings. Further, the construction activities in the region are rapidly increasing. As per the US Census Bureau, spending on residential construction in the US increased by more than 2.8% in 2018 as compared to 2017. Such, increasing activities are also creating immense demand for pre-painted metals for partitions, roofing, and walls.
Players to Focus on Expanding Applications in Variety of Industry
The global pre-painted metal market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Vorteq Coil Finishers, LLC, Nippon Steel Corp., Tata BlueScope Steel, Haomei, ArcelorMittal, SSAB, Flack Global Metals, MMK Group, Impol, UNICOIL, and NLMK among others could be at the forefront of the competition in the global pre-painted metal market.
Flack Global Metals: In November 2019, the company announced to establish a new coil coating and metal processing facility adjacent to Big River Steel’s Flex Mill located in Osceola, Arkansas, US. The company is planning to invest approximately $150 million in order to increase production capability to the Big River Steel campus for pre-painted steel and aluminum coils.
Vorteq Coil Finishers LLC: In October 2019, the company acquired all the assets of Western Metal Decorating (Western), the US based company specialized in coated aluminum and steel products for pre-painted markets. Under this acquisition the company will change Western’s name to Vorteq Pacific LLC. Through the new band the company is trying to continually broaden its processing capabilities and geographic reach in the pre-painted metals industry to offer better service to diverse national customers.
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