Coil Coatings Market - Global Industry Analysis

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:

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

• Polyester
• Fluoropolymer
• Siliconized polyester
• Plastisol
• Others

By Application

• Steel
• Aluminum

By End-User Industry

• Building & construction
• Automotive
• Appliance
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa