11-May-2022 | Zion Market Research
The Coil Coatings Market was worth around USD 4,291.7 million in 2021 and is estimated to grow to about USD 5,525.03 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.3 percent over the forecast period. The report analyzes the Coil Coatings Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Coil Coatings Market.
Coil coating is a type of organic coating that is applied to a rolled metal strip. Coil coatings, in other words, are utilized to coat metals in a continuous and automated process. Coil coatings are utilized in a variety of applications and come in a variety of formulations on the market. Coil coatings also offer a smooth finish, greater aesthetics, and increased longevity. Strict environmental standards and regulations for traditional products, expanding urbanization or construction activities, particularly in developing economies, and the growth and expansion of the automobile sector are the primary drivers driving the growth of the coil coatings market. The growing number of end-use industries for coil coatings is the primary factor driving the coil coatings market growth rate. Rising infrastructure development and building activity, particularly in developing nations, would generate further profitable growth prospects for the coil coatings market. Rising industrialization and massive investments in coil coatings by downstream industries will drive demand for coil coatings even higher. Increased focus on surface chemistry and treatment techniques development will also boost the coil coatings market growth rate. However, the high expenses associated with coating technology would provide a significant obstacle to the market's growth rate. In emerging and developing nations, a lack of proper and safe transportation infrastructure may further limit the scope of expansion for the coil coatings industry. Fluctuations in raw material pricing and supply would further stymie the coil coatings market's growth rate.
The Coil Coatings Market is segregated based on resin type, application, and end-user industry. Based on resin type, the global market is distinguished into Polyester, Fluoropolymer, Siliconized Polyester, Plastisol, and Others. Based on application, the global market is distinguished into Steel and Aluminum. Based on the end-user industry, the global market is distinguished into Building & Construction, Automotive, Appliance, and Others.
Asia-Pacific dominates the coil coatings market and will maintain its dominance during the forecast period. The expansion and growth of the building and construction industries as a result of increased infrastructure development and urbanization will drive demand for coil coatings even higher. This region's primary contributions will be India and China. This is due to the high rate of coil coating usage by verticals in these nations. The presence of a large number of manufacturers in the region is also boosting the growth rate of the coil coatings market.
Key players functioning in the Coil Coatings Market include Akzonobel N.V. (Amsterdam, Netherlands), PPG Industries Inc. (U.S.), and The Valspar Corporation (U.S.). Some of the other companies operating in the global market include BASF SE (Ludwigshafen, Germany), DuPont (U.S.), Henkel AG & Company (Dusseldorf, Germany), Kansai Paint Chemical Limited (Osaka, Japan), The Beckers Group (Berlin, Germany), The Sherwin-Williams Company (U.S.), and Wacker Chemie AG (Munich, Germany).
Browse the full “Coil Coatings Market By Resin Type (Polyester, Fluoropolymer, Siliconized Polyester, Plastisol, and Others). By Application (Steel and Aluminum). By End-User Industry (Building & Construction, Automotive, Appliance, and Others).” Report at https://www.zionmarketresearch.com/report/coil-coatings-market
Coil Coatings Market is segmented as follows:
By Resin Type
By End-User Industry
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