Coil Coating Market - Overview
The global coil coating Market is growing with the impulsive pace; mainly due to the proliferation of construction industry. The global construction market is anticipated to increase at a faster growth than world GDP over the forecast period owing to the Asian economies continue to industrialise and coupled with US recovers from the sharp downturn during the global financial crisis. According to a recent study report published by the Market Research Future, The global market of Coil coating is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2022).
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Globally, the market for Coil coating is driven by the region Asia pacific, owing to the rise in the population resulting in to use of coil coatings in indoor and outdoor architectural applications. Coil coating is a paint system consists of top cots, primers, back coat and are extensively applied for steel and aluminum coils and also has wide range of colors and finishes. Coil coating is an extra value added process and also it is a substitute for traditional painting. Coil coating has benefit of consistent high standard of adhesion to protect the coils from corrosion and also it helps in reducing the emission of volatile organic compounds (VOCs). Coil coated metals are easily scrapped and recyclable for further use.
Rising demand for transport vehicles is driving the coil coated metals owing to their application in manufacturing typical products such as sheet and panels for containers, caravan and mobile home sidings and interior, van and trailer bodies, insulated boxes, road and railway coaches. Also small parts like license plates, wiper assemblies and trim are among the applications.
Coil coatings products such as top coats, primer, back coat, clear coat, finishes and thinner are costlier but they are capable to deliver high performance for long run purposes. These high value added products widely used to coat metals such as aluminum and steel. These have major applications in wall cladding, roofing in construction sector; sheets and panels for transport vehicles and heating venting and air conditioning applications.
Top and primer coating are most widely used products and followed by back coat, clear coat and thinners.
Akzo Nobel N.V. (the Netherlands), Kansai Paint Co., Ltd. (Japan), BASF SE (Germany), E. I. Du Pont De Nemours and Company (U.S.), PPG Industries, Inc. (U.S.), The Valspar Corporation (U.S.), Henkel AG & Co. KGaA (Germany), The Sherwin-Williams Company (U.S.), Wacker Chemie AG (Germany), and The Chemours Company (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Coil coating Market.
Coil coating Market - Competitive Analysis
Coil coating market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the world. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are submit at higher costs in the current markets and increasing demand for coil coating in transport and construction industries will influence the end user products from these industries. Coil coating market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.
Industry/ Innovation/ Related News:
October 2017 – Akzonobel N.V. (the Netherlands), one of the key manufacturers of coil coating also having presence in U.K and South Africa, has announced extension of coil coatings market in U.K and South Africa by acquiring the BASF’s industrial coatings business for € 475 million. This acquisition is expected to complete by second half of 2016. This proposed acquisition is completed in December 2016 and to produce better innovative products and delivering these products to extended reach by the company.
April 2017 – Kansai Paint Co., Ltd. (Japan) is one of the leading manufacturer of coil coatings, has acquired all shares of European coating manufacturer Helios Group, with the closing of transaction on 31 March. Under the strategic owner Kansai, Helios will represent a strong European center of innovation, know-how and business development, and will further grow its importance in European coating industry. With the acquisition of Helios Group, Kansai Paint accelerates its growth strategy to become one of top three paint producers in the world and extended its market from Asia Pacific to Europe. Over the forecast period, by merging both the R&D and manufacturing technologies helps to manufacture and innovate better products in the Europe region.
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