The global 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.
Industry Prospective:
The global 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 Coatings Market: Overview
Coil coating is an automated and continuous industrial process that coats metal coils effectively. The coatings work on a simple but successful concept of cleaning, pretreating, and coating flat coils, steel sheets, or aluminium sheets. The rapid expansion of the construction industry as a result of greater disposable income and increased government investment in public infrastructure is expected to drive sales. The increasing use of coil coating paint in pre-coated items or metals used in construction wall cladding and roofing will continue to drive the market. Additionally, rising disposable income and a higher standard of living fuel demand for modern furniture, which is predicted to drive up demand for functional coil-coated metals. The automobile industry is also expected to drive global expansion. Color coated coils are commonly used by automakers because they give metals with a consistent and high-quality finish at a low cost. Moreover, the usage of these metals improves the design and aesthetics of home appliances and allows producers to customize the texture.
Covid-19 Impact
Over the pandemic period, almost every industry in the world has suffered a setback. This is owing to significant interruptions in their respective production and supply-chain activities caused by multiple precautionary lockdowns and other restrictions imposed by governing bodies throughout the world. The worldwide Coil Coatings Market is no exception. Furthermore, consumer demand has subsequently fallen as individuals are now more focused on reducing non-essential spending from their separate budgets since the overall economic state of the majority of people has been adversely affected by this epidemic. These factors are projected to weigh on the revenue trajectory of the worldwide Coil Coatings Market throughout the forecast period. However, when regional regulatory bodies begin to relax these imposed restrictions, the worldwide Coil Coatings Market market is likely to rebound.
Coil Coatings Market: Driver
The Oil and Gas Industry is Helping the Market
There is a discernible increase in demand for oil and gas resources around the world, which is due to increased demand from the automobile and aerospace industries. Clearly, oil and gas are one of the key industries that use metals and alloys, particularly steel, in structures, pipelines, reactors, and other equipment that is an essential part of an oil and gas plant. Most steel products, it appears, go through the coil coating process before being employed in diverse applications. Steel and other metals used in the oil and gas industry are providing a revenue stream for coil coatings vendors.
Coil Coatings Market: Restraint
The high cost of processes involved in the manufacture of functional coil coatings is a factor impeding the growth of this market. The coil coating line, which includes various cleaning, heating, and coating tools and equipment, is used in the manufacturing process. The higher the expense of these machines' upkeep, the higher the cost of the process, and the higher the cost of functional coil coatings. Furthermore, due to the higher cost of pre-coated metal, consumers choose household appliances that require the production of fiber or plastic. This is due to the inexpensive pricing of these materials and the same performance as functional coil coatings. The functional coil coating process necessitates the employment of various coating machinery and tools. The usage of these tools for an extended period of time causes wear and tear, restricting the adoption of functional coil coatings.
Coil Coatings Market: Segmentation
The Coil Coatings Market is segregated based on resin type, application, and end-user industry.
By resin type, the market is classified into Polyester, Fluoropolymer, Siliconized Polyester, Plastisol, and Others. Polyester is expected to dominate the worldwide coil coatings market in the future years. Along with its numerous advantageous features, polyester coil paint is increasingly being employed in both the exteriors and interiors of buildings. Polyester is resistant to harsh weather, has outstanding formability, and has strong chemical resistance qualities. It can also give excellent flow properties at a variety of temperatures, making it suitable for use in pre-engineered buildings.
By end-user industry, the market is classified into Building & Construction, Automotive, Appliance, and Others. During the evaluation period, the construction segment is anticipated to continue at the forefront of the worldwide coil coatings market. The market is expected to grow because of an increase in the number of residential and commercial construction projects in both developed and emerging countries. Cleaner technologies for public infrastructure are expected to promote sales of color-coated coils. The growing popularity of the westernization trend throughout emerging nations is expected to result in high demand for personal residences among younger people, boosting the market growth.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Regional Landscape
The Asia Pacific now dominates the global coil coatings market demand and will do so in the future due to the presence of a large number of manufacturers and a significant end-user industry. The region's expanding automobile industry is driving up product demand. Furthermore, the region's expanding building activity will result in tremendous growth potential in the industry landscape. China leads the construction business, investing heavily in South East Asia as part of the Belt and Road Initiative. Construction activity in the country will move to projects that will improve inhabitants' quality of life. This trend is reflected in the ongoing PPP (Public-Private Partnership) program, which focuses on social infrastructure as well as environmental protection initiatives. Rising investment and government attempts to stimulate construction activity in the Asia Pacific would advance the region.
Competitive Landscape
Some of the main competitors dominating 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).
Coil Coatings Market is segmented as follows:
By Resin Type
By Application
By End-User Industry
By Region
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.
Request the coronavirus impact analysis across industries and markets
The rapid expansion of the construction industry as a result of greater disposable income and increased government investment in public infrastructure is expected to drive sales. The increasing use of coil coating paint in pre-coated items or metals used in construction wall cladding and roofing will continue to drive the market.
According to the Market Research report, the Coil Coatings Market was worth about 4,291.7 (USD million) in 2021 and is predicted to grow to around 5,525.03 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 4.3 percent.
The Asia Pacific now dominates the global coil coatings market demand and will do so in the future due to the presence of a large number of manufacturers and a significant end-user industry. The region's expanding automobile industry is driving up product demand. Furthermore, the region's expanding building activity will result in tremendous growth potential in the industry landscape.
Some of the main competitors dominating 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).
Zion Market Research
Tel: +1 (844) 845-5245
USA/Canada Toll Free No.+1 (855) 465-4651
3rd Floor,
Mrunal Paradise, Opp Maharaja Hotel,
Pimple Gurav, Pune 411061,
Maharashtra, India
Phone No 020-46277770
US OFFICE NO +1 (844) 845-5245
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
We have secured system to process your transaction.
Monday - Friday: 9AM - 6PM
Saturday - Sunday: Closed