New York, NY -- (SBWIRE) -- 01/16/2017 -- Metal Coatings Market- Overview
The corrosion means the erosion of metals, leads to the changes in the properties and failure to the performance of the metals. The metal coating is a way to protect the metal surface from corrosion and prevent changes to the properties of metals. In the metal coating process, the metal is treated as the entire surface is cleaned and provided tightly bonded finishes before fabrication of metal into end products. The metal coating makes the metal more durable by providing topcoats, innovative applications, Smooth surface and green benefits with the cost benefits which drives the demand of the metal coating for various industries such as automotive, construction and consumer goods. Overall, the global metal coating market is anticipated to register the significant growth over the forecast period 2016 to 2026.
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Metal Coatings Market- Drivers and Restraints
The global metal coatings market is expected to register a moderate CAGR over a forecast period as the application of metal coatings is increasing due to the rapidly growing industrialization and urbanization which is the major factor, drives the global metal coatings market. The increase in infrastructure development and spending, particularly for commercial and residential sectors also boost the demand for the end products of coated metals, drives the growth of the global metal coating market. The advantages of metal coating such as increased durability, corrosion resistance, and improved texture, increases the demand and drives the global metal coating market.
However, the fixturing process in the metal coating industry is very expensive, which may boost the cost of the metal coating process and restrain the growth of the global metal coating market. The stringent rules and regulations of the various government as the waste output by the cleaning procedure of metal coating is hazardous to the environment which may also hamper the growth of the global metal coating market.
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Metal Coatings Market- Region Wise Outlook
The global metal coating market is segmented into the seven regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). The APEJ region has become the market leader and contributed the leading shares to the global metal coatings market regarding revenue and volume due to the rapidly growing industrialization in the emerging economies such as China and India. The North America and Western Europe also contributed a moderate market share and anticipated to grow at a significant growth rate throughout the forecast period as the matured market of metal coating. The Japan is expected to register a healthy growth rate to the global metal coating market. Latin America and MEA are at a nascent stage of the global metal coating market and anticipated to register a lucrative growth over the forecast period 2016 to 2026.