Coil Coatings Market
Coil coating is a process of continuous and automated coating of metal before fabrication of the end products. Coil coating involves steps such as cleaning, conversion treatment, drying, primer coating, and top coating. The coil coating process offers a variety of benefits over unit coating. Coil-coated sheet metal is tough, easy to process, and highly versatile in its applications. The major type of polymers used for coil coatings is polyester, silicon modified polymers, polyvinylidene fluoride, epoxides, plastisol, and others. Due to its advanced properties such as corrosion resistant, stain resistant, and flexibility; coil coatings are widely used in various end-use industries.
The global coil coatings market is estimated to grow at the fastest pace with increasing demand from a number of construction activities across the world in the non-residential as well as residential segments. The urbanization in countries such as China, Mexico, the U.S., Brazil, Indonesia, Turkey, and India is increasing the demand for new construction which in turn is predicted to drive the coil coatings market. Manufacturers of renewable energy products and green building materials use coil coating technology in thermal energy applications to improve the efficiency. In the buildings, infrared coatings are applied and aluminum strips of solar panels are coated. Therefore, this is expected to propel the coil coatings market in the future. However, with the increasing metal substitutes in the automotive industry with engineering plastics like polycarbonate is anticipated to hamper the market growth.
Coil coatings market is segmented on the basis of type and application. The type segmentation includes silicone-modified polyester, polyester, polyurethane (PU), polyvinylidene fluoride (PVDF), epoxides, plastisol, and acrylics. The polyester is the major segment in the global coil coatings market. Polyester is highly used as a coil coating. Polyester amongst the other types contributed the largest share to the market in 2016 and is likely to maintain its share in the forecast. Automotive, construction, packaging, appliances, HVAC, furniture, and others are the key application segment of the market. Construction is the dominating application and is expected to continue its dominance in the forecast. The rising non-residential buildings, such as factories, industrial project sites, and commercial buildings drive the global coil coatings market.
The geographic analysis of coil coatings market includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific was the largest contributor to the global coil coatings market which contributed about 51.04% of market share during 2013 and is expected to continue its dominance in the market for next few years. The market witnessed a high demand for coil coatings for building and construction applications mainly from China, India, and Japan, which is expected to drive the market growth in the region. The technological advancements in coil coatings are likely to boost their adoption globally over the forecast period. Moreover, government regulations and proposals for infrastructural improvement, and the rising construction market in emerging countries are projected to spur the coil coatings market in upcoming years. Increasing demand for key consumers of packaging and automotive application is expected to increase the demand for coil coatings globally.
The coil coatings market consists of a large number of players and is highly fragmented. These players are primarily focusing on novel products and material offerings. Companies involved in this are The Dow Chemical Company, The Valspar Corporation, DuPont, BASF SE, Akzo Nobel N.V., Kansai Paint Chemical Limited, Henkel AG & Company, The Sherwin-Williams Company, The Beckers Group, and Wacker Chemie AG, among others.