Coil Coating Market to Rise from USD 5.41 billion in 2023 to USD 8.68 billion by 2032, at a rate of 6.10% – Report by Market Research Future (MRFR)
Coil Coating Market Research Report Information By Resin Type (Polyester, Polyvinylidene Fluorides (PVDF), Polyurethane, Silicone Modified Polyester, and Plastisol), By End-User (Construction, Automotive, Electrical & Electronics, Consumer Appliances, and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
New York (US), May 24, 2023 (GLOBE NEWSWIRE) — Coil Coating Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Coal Coating Market Information By Resin Type, End-User, and Region – Forecast till 2030″, Between 2023 and 2032, the coil coating market can rise from USD 5.41 billion in 2023 to USD 8.68 billion by 2032, at a rate of 6.10%.
Before a metal is fabricated into finished goods, it is coated using an automated, continuous process called coil coating. The coil coating delivers metals used in public construction, including roofs, dividers, and shades, a smooth finish, green benefits, along with the aesthetic appeal. From rolling mills, commonly used metals like steel or aluminum substrate are transported in coil structures. The metal coil is placed near the beginning of the coating line, and in a continuous process, the loop is unwound, pre-cleaned, pre-treated, pre-prepared, and preprinted before being drawn back on the other end and packaged for shipment.
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Market Competitive Landscape:
The renowned firms active in the coil coating industry are
- BASF SE
- Henkel AG
- I. DuPont
- Wacker Chemie AG
- Nippon Paint Holdings Co. Ltd
- Axalta Coating Systems L.L.C
- Akzo Novel NV
- PPG Industries Inc.
- The Dow Chemical Company
- Valspar Corporation
- Among others.
The market for coil coating is expected to continue to grow as a result of major industry players making significant investments in R&D to boost their output. Market participants are also pursuing a strategic strategy to broaden and strengthen their footprint, with significant market developments including new product lines, partnerships, mergers and acquisitions, capital expenditures, and strategic alliances with other organizations. For growth and survival in a competitive market environment, the coil coating sector must provide affordable and long-lasting solutions.
|Market Size in 2032||USD 8.68 billion|
|Historical Data||2018- 2022|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Resin Type, End-User, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and the Rest of the World|
|Key Market Drivers||In the majority of emerging economies, housing demand is increasing dramatically. Improvement in the market’s economy and industrialization drives the expansion of the coil coating market.|
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Market USP Covered:
The market CAGR for coil coating is driven by the rising housing demand and the quick industrialization of emerging nations. The growth of the coil coating sector is facilitated by improved market economic conditions. Even the expansion of this sector was altered by seeking to maintain a high standard of quality and adopting a different way of life. Additionally, the demand for housing is growing exponentially at the quickest rate in developing countries. A percentage of the government’s earnings is used to fund some public infrastructure initiatives as well as startups and emerging companies. As a result, market size and demand both rises. The rise in industrialization in developing countries is a crucial factor driving the expansion of the coil coating sector.
The market for coil coatings also benefits from a large variety of end-use industries. The sector for coil-based coatings will have more appealing growth potential as a result of rising construction activity and infrastructure improvements, particularly in developing countries. Due to expanding industrialization and large expenditures made in coil coatings by downstream industries, the need for coil coatings will keep rising.
More attention will be paid to improving external chemistry and treatment methods, which will hasten the expansion of the coil coatings sector. To create a new generation of coil coating markets that are sufficiently environmentally benign and do not hurt the environment, businesses are dramatically boosting their R&D spending. The market benefits from the variety of uses for the new products being created in this way.
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The expansion of the market can be hampered by the strong demand for lightweight materials in the automotive sector.
COVID 19 Analysis
Most of the major markets in the world have been hit by the COVID-19 outbreak, and the market for coil coating is no exception. These products have the largest market in Asia Pacific, however, because of the coronavirus outbreak and lockdown conditions in China, India, and Japan, both supply and demand have decreased. Globally, the target industry’s growth was limited by COVID-19 because to supply chain disruption, variations in the raw material supply, a lack of manpower in the manufacturing facility, and poor end-user demand. Although the COVID-19 situation is slowly improving, most industries have already started operating at full capacity.
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By Resin Type
Polyester, Polyvinylidene Fluorides (PVDF), Polyurethane, Silicone Modified Polyester, and Plastisol are among the resin types available in the coil coating market. With a market share of 48% (USD 2.48 billion) in 2022, polyester dominated the industry. Polyester is one of the most reasonably priced materials used in coil casting because of its excellent quality and use in durable construction.
By End User
Construction, Automotive, Electrical & Electronics, Consumer Appliances, and others are some of the top end-users in the worldwide market. About 52% (USD 2.7 billion) of all income was earned in the Construction category in 2022. Because coil coating is utilized in roofing, panels, and metal lamination before fabrication into finished goods, an increase in building activities—whether residential or commercial—has resulted in a tremendous demand for this material.
The Asia-Pacific is in the lead, having captured a 45.8% of the market share in 2022 as a result of rising industrialization and construction activity. Additionally, during the anticipated timeframe, government-supported regulations and subsidies for producing coil coating will assist market expansion in this Region.
The market for coil coatings may expand along with the building sector’s expansion. The largest construction market worldwide is in the Asia-Pacific region, which is dominated by China, India, and other Southeast Asian nations.
India’s infrastructure industry has attracted a lot of attention from global investors. The non-banking finance arm of Clearwater Capital Partners LLC, Altico Capital, has expressed interest in investing around USD 150 million over the following 1.5 years to develop commercial office properties and enhance the infrastructure sector. The Vishakhapatnam-Chennai industrial corridor will be developed thanks to a USD 631 million loan sanctioned by the Asian Development Bank. These are a handful of the investments that the nation is anticipated to make in the following years.
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