According to the report, global coil coatings market was valued at USD 5.63 billion in 2017 and is expected to reach USD 8.53 billion by 2024; it is anticipated to grow at a CAGR of 6.0% between 2018 and 2024.
New York, NY, July 20, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Coil Coatings Market by Types (Silicone-Modified Polyester, Polyester, Polyurethane (PU), Polyvinylidene Fluoride (PVDF), Epoxides, Plastisol, and Acrylics), by Application (Automotive, Construction, Packaging, Appliances, HVAC, Furniture and Other Applications) – Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global coil coatings market was valued at USD 5.63 billion in 2017 and is expected to reach USD 8.53 billion by 2024; it is anticipated to grow at a CAGR of 6.0% between 2018 and 2024.
Coil coatings are the coatings of pigments, resins, and primers which are multi-layered over metal rolls. Coil coating is a method which involves the coating of rolled metal strips with an organic coating material by an automated and continuous process. The metal substrates such as aluminum, steel, and others are roll coated to make them corrosion and weather resistant. These coated strips, sheets, and rolls are then molded as per the need and the final products are used in the applications such as automotive fabrication, construction, appliances, and other applications.
Browse through 71 Tables & 42 Figures spread over 110 Pages and in-depth TOC on “Global Coil Coatings Market Size & Share Report 2017: Industry Type, Trends, Analysis and Forecast, 2024”.
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Coil coating is available in various types of resins such as silicone-modified polyester, polyester, polyurethane (PU), polyvinylidene fluoride (PVDF), epoxides, plastisol, and acrylics. Coil coating possesses versatile properties such as corrosion resistant, stain resistant, and flexibility. In addition, the coil coating is extensively used in metal roofs, wall panels, wall cladding, and decorative details to provide weather resistant & anti-corrosive characteristics.
The global coil coating market is predicted to grow at the fastest pace during the forecast period, owing to the increasing construction industry. Moreover, the rising demand for weather and corrosion resistant coil coated products across the world is having the most prominent influence on the global market for coil coatings. The construction industry is expected to boost the demand for coil coatings in upcoming years. Furthermore, fluctuating prices of raw material used to produce coil coatings may restrain the growth of coil coatings market in the forecast period. In addition, the automotive industry is replacing metals with engineering plastics, which may impact on the global coil coatings market. However, increasing use of coil coatings in the packaging industry is estimated to serve the opportunities in the forecast.
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The global coil coatings market can be segmented based on type, application, and regions. On the basis of type, the global market is segregated into silicone-modified polyester, polyester, polyurethane (PU), polyvinylidene fluoride (PVDF), epoxides, plastisol, and acrylics. Polyester is a widely used resin for coil coatings in a variety of applications such as packaging, automotive industry, and construction. In addition, polyester is widely available and at the lowest price as compared to any other resin. On the basis of applications, the market is classified into automotive, construction, packaging, appliances, HVAC, furniture, and other applications. Construction and automotive industries anticipate witnessing significant gains in the forecast period.
Coil coatings are the metal coatings used to provide versatile properties like stain resistance, corrosion, etc. The Asia Pacific was the leading regional market in terms of coil coatings demand in 2016 and is expected to continue its dominance over the forecast period. The coil coatings market in this region is expected to show the largest growth, owing to the high demand from construction industry from countries like China, India, and Indonesia, which is expected to drive the market growth in the region. China and India are the leading consumers of coil coatings market in the Asia Pacific, followed by South Korea and Japan. Rapid industrialization and urbanization in the regions are likely to spur the demand for coil coatings. In addition, advancement in economic conditions of several emerging economies such as India and China is expected to propel the coil coatings.
Browse the full “Coil Coatings Market by Types (Silicone-Modified Polyester, Polyester, Polyurethane (PU), Polyvinylidene Fluoride (PVDF), Epoxides, Plastisol, and Acrylics), by Application (Automotive, Construction, Packaging, Appliances, HVAC, Furniture and Other Applications) – Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024” report at https://www.zionmarketresearch.com/report/coil-coatings-market
North America is the second largest regional market for coil coatings and is anticipated to witness significant growth during the forecast period. North America is expected to register rising demand for coil coatings owing to a varied range of applications such as appliances and construction. Therefore, growing application in appliances industry in the region is expected to boost the demand for coil coatings, which is widely used to produce small appliances like microwave, dishwasher, refrigerators, freezers, dryers, etc. Furthermore, the rising demand from the construction sector is expected to augment the demand for coated coils which further is estimated to enhance the market of coil coatings in the forecast period. Europe coil coatings market is predicted to grow at a slower growth rate due to the economic crisis in the region. However, high construction growth in countries of Central & Eastern European such as Czech Republic, Russia, Belarus, Bulgaria, and Romania are witnessing the major coil coatings demand. Therefore, this, in turn, is expected to offer the opportunity in the future.
In Latin America, the demand for coil coatings is expected to show moderate growth rate in the forecast period. Brazil amongst the countries is anticipated to drive the market, accounting for high usage of coil coatings. Due to the development of technologies and innovations in the construction industry is projected to escalate the demand for coil coatings. Furthermore, the growing packaging industry in Latin America is expected to register the decent growth rate in the forecast period.
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Due to rising industrialization in the Middle East and Africa is expected to grow the demand for coil coatings substantially in upcoming years. In addition, growing demand for construction in the regions is anticipated to propel the coil coatings market. Increasing demand for consumer appliances and packaging and urbanization in the region has led to increased demand for coil coatings market in the region. Moreover, the increasing awareness and growing disposable income of the public is in turn expected to grow the demand for coil coatings in the region.
The coil coatings market consists of a large number of players and is highly fragmented. Companies operating in this market include The Dow Chemical Company, The Beckers Group, The Valspar Corporation, The Sherwin-Williams Company, Akzo Nobel N.V., Kansai Paint Chemical Limited, Henkel AG & Company, DuPont, BASF SE, and Wacker Chemie AG, among others. The enormous potential of the market is encouraging new entrants to foray into the market.
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The report segments the global coil coatings market as follows:
Global Coil Coatings Market: Type Analysis
- Silicone-Modified Polyester
- Polyurethane (PU)
- Polyvinylidene Fluoride (PVDF)
Global Coil Coatings Market: Application Analysis
Global Coil Coatings Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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