Functional Coil Coatings Market - Global Industry Analysis

Global Functional Coil Coatings Market: Overview

Coil coating is a continuous process for the coating of one or both sides of rolled coils of polished aluminium, steel, or stainless steel with an organic coating material. Depending on the requirements of the coating material, typically plastic films or lacquers are applied to provide decorative and functional characteristics to the coils. The functional coating also helps the surface to remain corrosion free. The ultimate result of coating is a high-performance composite consist of metallic base material and an organic coating.

Report Scope:

Global Functional Coil Coatings Market: Growth Factors

The global functional coil coatings market is expected to grow at a healthy rate over the forecast period. The rapid growth of the market is attributed to increasing investments for the expansion of transportation and construction facilities. The increasing need for specialized materials to follow safety standards in these sectors is mainly contributing to the demand for functional coil coatings. Moreover, large applications of functional coatings in the automotive industry are equally driving the growth of the global functional coil coatings market. The functional coating is widely used to protect automotive components from deteriorating processes such as corrosion or abrasion. Further, increasing inclination toward cleanliness and disinfection is projected to elevate the demand for anti-microbial functional coil coatings over the forecast period. In addition to this, rise in disposable income and an increase in the standard of living in developing countries is expected to boost the demand for modern furniture which in turn escalate the demand for functional coated coil metals. On the other hand, the high cost involved in the manufacturing process and the higher maintenance cost involved in cleaning, heating, and coating equipment and tools may hamper the growth of the global functional coil coatings market. However, the adoption of recyclable coating equipment and tools can significantly reduce the expenses on the installation and procurement of new tools, which can help to maintain the minimum cost of the product and increase its salability over the forecast period.

Severe impact of the COVID-19 pandemic on the growth of global functional coil coatings market is seen in 2020. With the halt of the manufacturing process, the availability of products reduced at a drastic rate in the global market. On top of that reduced demand from many end use industries also contributed to the low revenue generation. The growth of the market is mainly hampered due to halt in the construction and transportation sectors. However, with the occurrence of pre-pandemic conditions the market is expected to bounce back and register healthy growth.

Global Functional Coil Coatings Market: Segmentation

The global functional coil coatings market is bifurcated into function, product type, application, material, end-user, and region. Based on the function, the global market is divided into fire resistant coating, photovoltaic coating, self-healing coating, antimicrobial coating, anti-graffiti coating, anti-dust coating, self-cleaning coating, and others. Backing coat, primer, topcoat, and others are the product types of functional coil coatings. The application segment consists of aluminum coatings and steel coatings. Based on the material, the global market is categorized into polyvinylidene fluoride, epoxy resins, PVC/vinyl, polyester, plastisol, acrylic, and polyurethane. The end-user segment comprises HVAC, consumer durable goods, transportation, construction, metal furniture, and others.

Global Functional Coil Coatings Market: Regional Analysis

Among the regions, Asia Pacific is expected to remain the dominant regional market in the overall functional coil coatings market, besides it is predicted to retain its dominant position in global functional coil coatings market over the forecast period. Rapidly expanding automotive and construction sectors thereby leading to an increase in demand for functional coil coatings is the prime factor driving the growth of the market in this region. In addition to this, growing demand for modern furniture with a rise in the standard of living and increasing spending power is also the factor propelling the growth of the market in developing countries like India and China. The market in North America is projected to grow at a lucrative rate owing to growing demand for functional coil coatings with rising in awareness regarding the benefits associated with its use. Europe is also anticipated to be the attractive market for functional coil coating owing to the presence of automotive manufacturers on a large scale.

Global Functional Coil Coatings Market: Competitive Players

The nature of the global functional coil coatings market is highly competitive. Most of the major players are seeking for expansion of business and their growing zeal to touch the untapped regions has led to rise in mergers & acquisitions. Some of the dominating players operating in the global functional coil coatings market are Akzo Nobel N.V., Recubrimientos Plasticos SA, Modine Manufacturing Inc., Noroo Coil Coatings, JK Coil Coating Pvt Ltd, Chemetall Group, Titan Coatings Inc., Jotun Group, Eastman Chemical Company, Dura Coat Products, Inc., and others.

Global Functional Coil Coatings Market: Regional Segment Analysis

• 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

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.