The global Pre-Painted Metal Market is forecast to reach USD 33.64 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest from the construction sector with an increase in construction of roofing and walls, owing to benefits of the product, such as relative durability of coating and recyclability, making it suitable for a variety of applications. Moreover, its ability to fit into almost any shape, outstanding weathering tolerance for superior durability, and availability in various colors, among others, make it suitable for designing applications as well.
Rapid urbanization has changed the way of life of individuals and, thus, expanded the pervasiveness of the construction sectors over a broad aspect; therefore, augmenting the demand for the market product. The growth of the construction industry in Asia Pacific’s developing economies, due to increased corrosion resistance, is projected to create significant demand for pre-painted metal in the form of sheets and coils. However, the manufacturing of pre-painted metal includes tools & equipment for various processes, which require a high cost of maintenance, and in turn, increases the price of the overall process. These increased prices are shifting the market towards the adoption of less expensive fiber or plastic for manufacturing purposes, anticipated to hinder the growth of the pre-painted market.
Key participants include Nippon Steel Corporation, SSAB AB, ArcelorMittal, Tata BlueScope Steel, NLMK, MMK Group, Haomei, Impol, and UNICOIL, among others.
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Primarily used in the commercial construction industry are pre-painted metal products, such as boards, plates, and coils. This type of component is used as panels for the roofing, ceiling, and other building structural parts. The product offers superior properties, such as corrosion resistance, wear, UV resistance, no pollution of the environment, and longevity, resulting in higher penetration for building applications. The commodity is often used in the production of different vehicle components, such as oil filter caps, wiper blade assemblies, and cars’ body-in-white. Increasing demand for automobiles is likely to drive demand for the product over the coming years due to increased consumer spending and rapid industrialization. Global sales of commercial vehicles grew by 5.6% from 2017 to 2018, according to OICA. North America held a significant market share in 2019, owing to growth in the construction and automotive industries, especially in the United States. U.S. building investment rose by 14.8% from 2016 to 2018, according to the United States Census Bureau. Increasing motor and electric vehicle demand is also projected to boost the pre-painted metal industry in the coming years.
The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are rapidly changing their practices and purchasing priorities to meet the demand of a pandemic that has reduced the need for market-based pre-painted metal. A sequence of both positive and negative shocks will arise over a few months, as producers and their vendors adapt to changing demands of customers. The export-dependent economies of many regions look vulnerable, with an unfortunate global situation. Global Pre-Painted Metal Markets are reshaped by the impact of this pandemic when certain manufacturers either close down or decrease their production because of a lack of downstream demand. While some are having their production suspended as a precautionary measure by the governments of their respective nations to combat the spread of the virus. For certain countries, consumers are centered on being more regional by looking at the magnitude of the epidemic and the consequent actions of the national authorities themselves. In these situations, business dynamics in Asia Pacific regions were very dynamic, weakening regularly, making stabilizing themselves difficult.
For the purpose of this report, Reports and Data have segmented into the global Pre-Painted Metal Market on the basis of product, distribution channel, application, and region:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Consumer Electronics
Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- North America
- Asia Pacific
- Latin America
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Further key findings from the report suggest
- Based on product, steel generated a revenue of USD 10.88 Billion in 2019 and is expected to grow with a CAGR of 10.7% in the forecast period, due to its higher resistance to drying out, warping, and cracking compared to aluminum. Also, its lightweight advantage further increases its use, as it is easy to install, especially during renovations.
- Based on distribution channels, the pre-painted metal market generates a revenue of around 76.6% through offline mode in 2019 of the overall business.
- The construction sector is the major contributor to the pre-painted metal market, which is forecasted to USD 17.15 Billion by 2027. The construction industry of the Europe region is the major shareholder of the pre-painted metal market, holding around 52.0% of the market in the year 2027 owing to the wide variety of application in walls, roofing frames, gutters, façades, ceiling systems, cladding systems, as well as a range of accessories.
- Europe dominated the market for the pre-painted metal. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market. The European region holds approximately 50.0% of the pre-painted metal market, followed by the Asia Pacific region, which contains around 22.0% market in the year 2019.
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Pre-Painted Metal Market Segmentation & Impact Analysis
4.1. Pre-Painted Metal Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Rising demand of pre-painted metal in various industries
220.127.116.11. High usage of pre-painted metal for constructing the roof, doors, and walls of residential and commercial buildings
18.104.22.168. Rising government investment
4.2.3. Market restraints analysis
22.214.171.124. Consumers prefer home appliances that require fiber or plastic for fabrication that are less expensive as compared to pre-painted metal
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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