Metal Con 2023: Cautious Market Optimism and Continued Innovation in Metal Coatings for 2024

We are just over a month away from 2024, and as we look ahead, the typical end-of-year questions begin to pop up: what will happen to the economy? what about labor? These questions were particularly relevant at last month’s Metal Con trade show in Las Vegas, NV, where the biggest metal manufacturers, coil coaters and coating companies came together to gauge construction opportunities in 2024.

Ken Simonson, chief economist for Associated General Contractors of America, painted a telling picture of what to expect next year, and beyond. In addition to market activity, the show highlighted some of the biggest material and coating trends that will shape the future of the metals industry.  

Economic Landscape: 

Cautious optimism surrounds economic recovery, with potential risks of a recession towards the end of 2024. While home building will most notably continue to see a slow rebound, other sectors like multi-family, warehouse, retail, office, and lodging will follow the same trend line due to ongoing rate hikes.  

High Growth Areas of Opportunity in Construction: 

Data center and manufacturing construction will remain robust, driven by infrastructure investments, the Chips Act, and inflation reduction. We can expect additional growth in wind, solar, battery storage, and charging facilities, which present opportunities for innovation within metal materials and high-performance coatings. 

At the same time, translating funds into construction awards may be a gradual process, with challenges in “project starts”. These “project starts” originated from Buy American policies and adherence to labor and environmental standards. Material costs and lead times will show overall improvement, except for select items like electrical gear and electronics. 

Workforce Dynamics: 

Workforce challenges within construction will continue to persist due to slower population growth and an aging workforce, impacting the industry's ability to meet growing demand. That will keep wages elevated,  and fuel along automated manufacturing to fill the labor gap.   

Material/Coatings 

• Drive for Sustainability: Industry leaders, like AkzoNobel, are focusing on sustainability by incorporating bio-based monomers into coatings to reduce environmental impact. Additionally, Innovations in functional additives, such as hydrophobic and hydrophilic coatings, address environmental challenges. 
• Diverse Coating Preferences: Increasing demand for diverse coating types, from high gloss to textured rawhide coatings, reflect evolving aesthetic preferences. 

A Cautious Market and Coating Innovations Drive the Need for Surface Protection  

Pregis PolyMask® offers strippable vinyl/PVC film solutions that are engineered to protect coated metal surfaces from scratching and marring. Surface protection is a necessity during manufacturing, distribution, and installation. Pregis PolyMask commands a storied history of protecting finished metal surfaces - from coils to insulated panels. That means increased throughput and labor savings, along with avoiding the costs of damages. All of this is a necessary consideration as we look to navigate 2024 from an economic and market innovation perspective.  

For more information regarding Pregis PolyMask’s strippable vinyl/PVC solutions, visit here, and review our latest coated/painted metals films guide, here.