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                                  Home Press Releases

                                  Enamel Coatings Market Size Estimated to Reach $2.8 Billion by 2027

                                  admin by admin
                                  March 25, 2022
                                  in Press Releases
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                                  (EMAILWIRE.COM, March 25, 2022 ) The Enamel Coatings market size is estimated to reach US$2.8 billion by 2027 and is growing at a CAGR of around 6.0% from 2022 to 2027. Enamel in coatings is a glossy and mostly opaque substance that is used in protective and decorative coating applications like, on metals, glass, floors, and others. Enamel coatings market is growing due to the demand for enamels as it protects materials from corrosion because of their excellent resistant properties towards moisture, temperature, alkalis, and others. For instance, Coatings made from enamel have an excellent way to protect steel from corrosion. Baked enamels are made from amino resins, which have increased chemical, UV, and abrasion resistance. Thus, making them durable to last on metals. The use of enamel coatings in construction purposes will also drive growth in enamel coatings industry, as the construction activities are increasing after the slight fall in covid. For instance, according to the Department for Promotion of Industry and Internal Trade (DPIIT), in FY21, the construction development sector which involves infrastructure and construction development projects, accounted for around 13% share of the total FDI inflows which accounted for around US$ 81.72 billion. Enamel coatings find their application in construction, like, these days the wooden frames in buildings are being replaced by tube steel after galvanization because of its anti-corrosion, fire resistant properties. These tubes are coated with a baked enamel finish to give additional protection from corrosion.

                                  COVID-19 Impact

                                  The COVID-19 impact is hampering the enamel coatings demand in many applications. The negative impact is due to the decrease in demand of enamel pigments in various applications like construction, electricals and others. This is because Governments of various countries across the world have enforced lockdown measures to minimize the spread of the disease. There was a halt in construction operations, because of restrictions on supply and transport. According to The Institute of Physics, an UK based organization, The Chinese economy shrank 6.8% during first three months of 2020. Enamel coatings are widely used in construction work, like floor enamel coatings, or coating of exterior and interior walls of buildings because of the glossy properties of enamels. Due to the halt in construction activities, there was a slow demand of enamel coatings which impacted the enamel coatings market.

                                  Enamel Coatings Market Segment Analysis – By Resin Type

                                  Polyurethane enamel coatings are expected to grow at a CAGR of 5.8% in the forecast period. Polyurethane enamels are mostly oil-based which provides extremely good plasticity properties. Polyurethane enamel coatings are mostly used in flooring applications because of their excellent properties of providing resistance to scuffing, flaking, chalking, and yellowing. Thus, they are preferred in floors where wear and tear are anticipated. For instance, Dulux, a major player of the enamel coatings market produces Dulux Polyurethane Floor Enamel. These enamel coats are 100% water-based polyurethane paint which are specifically formulated for concrete and wood floors. Polyurethane enamels are also used in many different applications like cabinets, furniture, along with repairing and polishing your current floor. All these applications are related to construction industry and the growth of construction related activities will increase the demand of enamel coatings.

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                                  Enamel Coatings Market Segment Analysis – By End-User

                                  Enamel coatings are widely used in construction applications, as the segment of construction is expected to grow at a cagr of over 6%. Enamel coatings are suitable for providing an excellent glossy and opaque finish. Thus, it is used extensively for the purpose of coating of concrete wall surfaces, doors, windows, staircases, kitchens and bathrooms. The enamel coats show properties like they provide high resistance to moisture, alkali, extreme temperature and weather conditions. They can be used both on new and old surfaces. Additionally, these can also be applied on metal surfaces, woodworks as well as aluminum surfaces. The construction industry is growing and so the demand for doors, windows, and others is growing as well. For instance, According to International Trade Administration, The Korean construction industry, including public and private infrastructure recorded a growth of 16.9% in 2020. The revenue generated by construction-related activities was estimated to be around US$164 billion. The demand of construction industry will increase the demand for wall coatings, metal coatings and others which will increase the demand for enamel coating market. For instance, Water-based acrylic paints are now used for coating exterior walls because of their excellent resistance properties to flaking and cracking of walls. This is mainly due to the composition of enamel coatings. The main ingredients of enamel coats are metallic oxide, oil and resinous matter. Enamel coats are mostly preferred in construction purposes because after drying they become very rigid, and form a smooth layer which cannot be affected by acids, alkalis, harsh environment conditions and others. the availability of various colored enamel coatings in the market makes them in high demand to be used in painting doors, windows, stairs, decks etc.

                                  Enamel Coatings Market Segment Analysis – By Geography

                                  Asia Pacific will be the largest and the fastest-growing region in the enamel coatings market in the forecast period with a share of around 40%. This is because of the high growth of construction and infrastructure activities in the China, Japan, and South Korea among other countries. According to a report from research firm Cerulli in 2021, 54% of the global total infrastructure investment is spend in Asia-Pacific region. The construction industry growth in Asia-Pacific region is mostly observed due to ongoing projects of China and Japan. Japan has projects in Philippines, Singapore and Vietnam, which are considered to be the largest economy of Asia-Pacific region. China, is involved in Belt and Road Initiative (BRI) projects, such as the East Coast Rail project in Malaysia. Construction plays a huge role in the overall growth of enamel coatings market. Enamel coatings are widely used for construction purposes in both internal and external purposes as they are suitable for wood, metal, concrete and even brick. This is because they have good performance properties like providing protection from rough surface, high humidity and others. There are many types of enamels which are used for construction purposes. For instance, for constructing bathrooms or swimming pools- Alkyd enamel coatings are preferred because they can tolerate changes in temperature and moisture. Nitro enamel are used for surfaces of wood as they dry quickly even under normal conditions at room temperature. Thus, with their wide use in construction purposes, the demand for enamel coatings market will rise in Asia-Pacific region.

                                  Enamel Coatings Market Drivers

                                  Increasing demand for Polyurethane resin in enamels driving the demand for the Enamel Coatings market

                                  There has been significant growth in polyurethane market from the past few years, which has increased the demands of polyurethane enamel coating market. According to Indian Polyurethane Association, India’s export for polyurethane was around US$0.0089 billion in 2020-2021. Polyurethane enamels are widely used in flooring and wiring purposes. For instance, Elantas, a major player of the enamel coatings market, produces Polyurethane wire enamels (PUR), are used in solenoids, clock coils, watch coils and others.

                                  Growing demand for Enamel Coatings in the Asia Pacific region

                                  Asia Pacific will drive Enamel Coatings Market. Developing countries like India, South Korea has witnessed increase in demand for construction activities. This is because there is a high demand in residential construction. China, accounts for around 60% of the total coatings volume of APAC, and is found to be the leading coatings consumer in the region. Thus, APAC region is augmenting the enamel coatings market in the region.

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                                  Enamel Coatings Market Challenges

                                  Emission of Volatile organic compounds are the biggest challenge to the enamel coatings market

                                  The biggest challenge for the enamel coatings market is because of the emission of harmful volatile organic compounds (VOCs) from these enamel coatings. These VOC emissions are harmful to the environment and is thus the reason to inhibit the enamel coatings market. Companies also face challenge to deal with government regulations. According to International Labour Organization (ILO) White Lead Convention, 1921, use of lead carbonate and lead sulphate are prohibited in enamels as it has high VOC. To overcome this challenge, companies are producing Bio water-based enamels which show excellent properties of washability and durability. These are made from natural and renewable material like plant oils.

                                  Enamel Coatings Industry Outlook

                                  Technology launches, acquisitions, and R&D activities are key strategies that are adopted by the dominant players in this market. Enamel Coatings top 10 companies include:

                                  Sherwin-Williams

                                  Kansai Paint

                                  Axalta Coating Systems

                                  Nippon Paint

                                  PPG

                                  BASF

                                  Dow

                                  Solvay

                                  Chenyang Group

                                  Asian Paints

                                  Acquisitions/Technology Launches

                                  In June 2021, PPG, a major player of the enamel coatings market has closed on its acquisition of US$1.8 billion of Tikkurila, a Finland-based company of decorative and industrial paints. This acquisition will help PPG to expand its paints and coatings business in regions like Finland, Russia and others; thus, helping the enamel coatings market to grow.

                                  In March 2021, Axalta, a major player of the enamel coatings market, announced an agreement to acquire Anhui Shengran Insulating Materials Co., Ltd., which is a Chinese producer of wire enamels. Wire enamels are widely used in electrical applications like in transformers, generators and Others. This acquisition will add wire enamel products in Axalta enamel coating product line.

                                  Key Takeaways

                                  The rise in construction activities has increased the use of enamel coatings in various applications like doors, windows, stair raisins, bathrooms and others. This is because of their excellent properties like temperature resistant, alkali resistant, and others.

                                  The demand of polyurethane is increasing in coatings, adhesives and foam insulation materials and others and are used in various industries such as construction, medical, furnishing, electronics and others. Polyurethane is thus the most widely used resin for enamel coating. Polyurethane gives excellent glossy effect to enamels and are rigid, thus is mostly applicable to construction related activities like flooring.

                                  Related Report:

                                  Protective Coatings Market

                                  https://www.industryarc.com/Report/18131/protective-coatings-market.html

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