Coil Coatings Market - Size, Share, Growth Analysis, Demand by 2027

Posted October 5, 2021 by chitradeo00777

Coil Coatings Market 2020 is expected to expand from 4.3 billion in 2015 to expand at 7.6 billion by 2027, with estimated CAGR of 6.1% over the review period (2016-2027).
Market Synopsis

The global Coil Coatings Market 2020 is expected to expand from 4.3 billion in 2015 to expand at 7.6 billion by 2022, with estimated CAGR of 6.1% over the review period (2016-2022).

Drivers and Restraints

The demand for coil coatings is poised to be experiencing significant growth in the coming years, particularly in the construction sector. Increasing development operations, accelerated industrialization and increased government spending have been factors driving the growth of the coil coating industry. The commodity is commonly used in wall panels, roofs and makes industrial and residential buildings visually pleasing. Rising government funding to enhance public services often propels coil coating demand around the end-user sector. Growing market in the building and transport sectors for steel and aluminium is expected to further drive coil coating demand. This phenomenon is expected to drive growth in the industry in the next six years. Coil coatings are gaining popularity in packaging materials, thanks to their wear tolerance and durability. Growing demand for high-efficiency packaging materials for transport and storage applications globally is projected to propel the industry in the coming years. In addition , increasing metal replacement in the automobile industry with engineering plastics such as polycarbonate is the main limiting factor that may impede demand growth.

Fluctuating raw material prices of supply and demand balance restrains the development of the coil coating industry in developing regions. High cost of coil coatings relative to traditional coatings and simple availability of highly advanced metal replacement such as polycarbonate plastics hinders coil coating demand development over the projected period. Nevertheless, growing demand for fluoropolymer coatings for architectural applications is likely to pose a potential opportunity.


Key Players

The eminent players of the global coil coatings market are Nippon Paint Holdings Co., Ltd (Japan), The Valspar Corporation (U.S), BASF SE (Germany), Akzo Nobel N.V (Netherlands), Axalta Coating Systems LLC. (U.S), PPG Industries, Inc. (U.S), E. I. du Pont (U.S), Wacker Chemie AG (Germany), The Dow Chemical Company (U.S), Henkel AG & Co. KGaA (Germany) and others.

Market Segmentation

The global coil coating market by resin type, has been segmented into polyvinylidene fluorides (PVDF), polyester, polyurethane, silicone modified polyester and plastisol.

The global coil coating market, by end user industry, has been segmented into consumer appliances, automotive, electrical & electronics, construction, others.

Regional Analysis

The geographical overview of the global market comprises the evaluation of Asia Pacific, North America, Europe and the rest of the world.

Geographically, the Asia-Pacific region holds the largest share of the Global Coil coating market led by Europe and North America. China is the main coil-coating manufacturer and customer. The demand for coil coatings may also rise as the building industry continues to expand. Globally, Asia-Pacific has the highest construction industry, which is dominated by India , China and numerous countries in Southeast Asia. Increasing industrialization, favorable policy policies and rising customer demand would dramatically increase the coil coating industry in developing economies such as China , India and Japan. Countries like Indonesia , Thailand and Brazil, because of favorable government policies and tax incentives here, are the rising demand for industrial coatings. The region of North America and Europe being prominent players in automotive and consumer appliances such as dishwasher, microwave, refrigerators etc. will drive the growth of the coil coating market in the years to come.

Substantial development is also projected for North America and for Europe. The recovery of the construction and automotive industries in the U.S. is expected over the forecast period to drive demand for coil coatings in the respective applications. The growing demand for coil coatings for construction applications in Mexico is expected to further supplement the growth of the regional industry over the next six years. In the US, the rising pharmaceutical industry is expected to further fuel the rise of the North American coal-coating market. Europe's economic downturn has led to slow development in global end-use coil coatings sectors such as manufacturing, electrical & electronics, and pharmaceuticals.

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Tags coil coatings , coil coatings market , coil coatings market size
Last Updated October 5, 2021