Market Overview The global Pre-Painted Metal Market is projected to experience a 10.8% increase in value, growing from USD 14.75 billion in 2019 to reach USD 33.64 billion by 2027. Pre-painted metal sheets, known for their superior corrosion resistance, offer a combination of high strength, formability, and joint-ability. Consequently, they stand out as the preferred materials in the construction sector, particularly in roofing and walls. The product's advantages, including the durability of the coating and recyclability, extend its applications to diverse sectors like consumer electronics, automotive, and furniture.
Pre-coated metal, created through a coil coating procedure that includes cleaning, coating, and heating, encounters increased production expenses because of the upkeep of related tools and equipment. This results in higher prices, leading consumers to consider alternatives such as fiber or plastic for applications where more affordable materials are needed, which could impede market expansion.
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Product Insights: The pre-painted metal market is categorized into steel and aluminum products. In 2019, steel held a market share of approximately 73.7%, primarily due to its superior resistance to drying out, warping, and cracking compared to aluminum. Additionally, the lightweight nature of steel makes it easier to install, especially in renovation projects. Aluminum, on the other hand, is the fastest-growing category owing to its lightweight properties and high resistance, making it suitable for exterior architectural applications.
Distribution Channel Overview: The offline segment, generating USD 11.30 billion in revenues in 2019, is driven by customer preferences for in-person shopping experiences. However, the online segment is expected to grow significantly at a CAGR of 11.7% from 2020 to 2027, following the proliferation of e-commerce stores, enhancing supply chain efficiency and offering customers easy accessibility.
Application Analysis: In 2019, the construction segment dominated with a revenue share of nearly 51.0%, driven by increased investment in infrastructure development. Pre-painted metal finds applications in walls, roofing frames, gutters, façades, ceiling systems, cladding systems, and various accessories. The automotive industry also utilizes pre-painted metal for manufacturing electric cars, with the global electric car shipments projected to reach 23 billion by 2030.
Regional Outlook: The Asia Pacific, with a market share of 21.7% in 2019, became the second-largest region due to growth in the construction and transport industries. The region's rapid urbanization, increased disposable income, and low housing loan interest rates are expected to drive demand for commercial, residential, and industrial infrastructure. North America is anticipated to exhibit a CAGR of 11.0% in terms of volume, driven by infrastructure development and increased automotive manufacturing.
Market-O-Nomics:
- Aluminum, with revenue of USD 3.18 billion in 2019, is expected to grow at a CAGR of 11.7% due to its lightweight and high resistance properties.
- The construction and transportation sectors contributed around 77.5% of the Pre-Painted Metal market's revenue in 2019.
- Europe accounted for approximately 50.5% of the overall market activity in 2019.
Competitive Landscape: Key players in the Pre-Painted Metal market include Nippon Steel Corporation, SSAB AB, ArcelorMittal, Tata BlueScope Steel, NLMK, MMK Group, Haomei, Impol, and UNICOIL. These major manufacturers have implemented various strategies to enhance their market presence.
Start-up Traction: Startups entering the market include Blessing Paints and Avon Paint Store, focusing on offering innovative products and technologies.
Deals Landscape: Mergers and Acquisitions play a significant role in the industry, with Vorteq Coil Finishers LLC acquiring Wheeling Services & Supply Inc. in May 2018, and Nippon Steel & Sumikin Bussan Americas Inc. partnering with Pacesetter in December 2018.
Expert Insights: Industry experts forecast promising developments with increased adoption of Pre-painted metal, driven by growth in the construction and transportation sectors in developing economies. New manufacturers entering the market are expected to focus on innovation and advanced technologies.
Segments Covered: The report segments the Pre-painted metal market based on product, distribution channel, application, and region.
- Product Outlook: Steel, Aluminum, Others
- Distribution Channel Outlook: Online, Offline
- Application Outlook: Construction, Transportation, Consumer Electronics, Others
- Regional Outlook: North America, Europe, Asia Pacific, MEA, Latin America
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