Pre-Painted Metal Market Growing Trend and Demand In Construction Sector, Forecast 2027 : Reports and Data
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.
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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.
- 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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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
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Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Pre-Painted Metal Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Pre-Painted Metal Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Pre-Painted Metal Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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