The ‘Global Coil Coatings Market Share, Size, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global coil coatings market, assessing the market on the basis of its segments like resin types, applications, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Around USD 6.62 Billion
- Forecast CAGR (2023-2028): 6.50%
- Forecast Market Size (2028): Approximately USD 9.61 Billion
The rise in commercial and private construction projects, owing to rapid urbanisation, rising disposable incomes, improved standard of living, and various government initiatives to develop public infrastructure, is fuelling the growth of the global coil coatings market. Coil coating techniques are an integral part of the construction industry as they are essential in developing interior and exterior wall panels, ceilings, doors, roofing, and sliding windows.
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The increasing application of coil coating technology in household appliances to improve the aesthetics, functionality, and to prolong the lifetime of these products is further boosting the growth of the global coil coatings market. Increased focus on developments in surface chemistry and treatment techniques to further improve coating procedures is expected to support the market growth. However, the high cost of coating technology and growing environmental concerns might hinder the growth of the market.
The stress-resistance, flexibility, and durability against extreme weather conditions provided by coil coatings have allowed their usage in the storage and transportation industry. The increasing need for metal containers in the food and beverages sector for food packaging is boosting the adoption of coil coating technology. The coating ensures a long stable shelf-life of canned food and beverage products while being compliant with regional regulations for food contact materials.
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Coil Coatings Industry Definition and Major Segments
Coil coating is an industrial process for efficiently coating a coil of metal with a material to produce a coated finish before fabrication for various end users. Coil coating provides a uniform, high quality, and coated finish to various types of surfaces.
By resin type, the global coil coatings market is divided into:
- Fluoropolymer
- Polyester
- Siliconised Polymer
- Plastisol
- Others
Based on application, the market is categorised into:
- Aluminium
- Steel
- Others
By end use, the market is segmented into:
- Building and Construction
- Appliance
- Automotive
- Others
The major regional markets for coil coatings include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Coil Coatings Market Trends
The automobile industry’s demand for uniform and quality finish on the metal surface for aesthetic and scalability purposes is expected to propel the growth of the global coil coatings market. A surge in demand for public and private automobiles, owing to rapid urbanisation and rising standards of living, has resulted in an increased demand for colour-coated coil solutions that provide vehicles with improved aesthetic features, along with sun protection and durability.
The polyester segment accounts for a healthy share of the global coil coatings market as polyester coil coating is tough, flexible, and resistant to stain. These coatings are also available in various colours and glosses in the market. The growing implications of polyester-based coil coatings in the infrastructural sector for designing the interior and exterior of the house and garage and entry doors are supporting the growth of the segment.
The Asia Pacific region is expected to witness significant growth over the forecast period owing to the growing construction sector and the presence of a huge customer base for coil-coated household products and appliances. North America is also expected to witness significant growth over the forecast period due to the rise in demand for lightweight and non-corrosive colour-coated solutions from the expanding automobile sector, resulting in the growth of the global coil coatings market.
Key Market Players
The major players in the global coil coatings market report are:
- Akzo Nobel N.V.
- BASF SE
- DuPont de Nemours, Inc.
- Kansai Paint Co.,Ltd.
- PPG Industries, Inc.
- Beckers Group
- The Sherwin-Williams Company
- Nippon Paint Holdings Co., Ltd.
- Wacker Chemie AG
- Bulk Chemicals, Inc.,
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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