Coil Coatings Market
Coil Coatings Market Overview:
Coil Coatings is method used to coat and paint sheets of metal such as steels, aluminum etc. Coil coating makes material more durable and corrosion resistant. The coil coating provides a smooth finish, green benefits coupled with aesthetic looks to metals used on non-residential construction such as roofs, walls and shades. The growing demand for coil coating is mainly driven by increasing applications in construction, automotive, consumer appliances and others. Owing to its eco-friendly nature, high tensile strength and good adhesion property makes it integral part of industrial sectors. Increasing number of commercial and residential projects in emerging economies has stimulated the demand of coil coatings in those regions. The global coil coatings market was 4.3 billion in 2015 and is expected to grow at 7.6 billion in 2022 with estimated CAGR of 6.1% between 2016-2022.
Coil Coatings advanced layer coating used to coat materials such as metal sheets, tin, steel and aluminium. Coil coatings is extensively used in construction and automobile sector owing to superior properties such as corrosion resistance, UV protection, high tensile strength and good adhesion property. Currently, growing non-residential construction activity such as large factories, industrial sites has boosted the demand for coil coating market to sustain the harsh weather conditions. The global infrastructure expenditure is expected to reach USD 5 Trillion over the forecasted period.
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Coil Coating Market Key Players:
Coil Coating Market Major Role Players are: 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 Coatings Market Segmentation:
Coil Coating Market is majorly segmented on the basis of resin type and end user industry. Based on resin type, Coil Coating market is segmented into polyester, polyvinylidene fluorides (pvdf), polyurethane, silicone modified polyester and plastisol. Based on end user industry of Coil Coating, the market is segmented into Construction, Automotive, Electrical & Electronics, Consumer appliances, Others.
Coil Coatings Market Regional Analysis:
The market is classified and analyzed on the basis of various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Coil Coating market is largest market owing to robust industry growth of end user industry in China and India. Rapid industrializations, favorable government regulations and increase in per capital income will significantly grow the coil coating market in emerging economies such as China, India and Japan.
North America is second largest region in coil coating market. U.S is dominating segment owing to key players in these regions has shifted their production in developing regions to trap the competitive market. Automobile sector in these regions is growing rapidly which led to rise in product segment in these regions. European debt crisis has affected many industries like construction, automobile and appliances. Due to this key player has reluctant to invest in these regions. This has led slow growth of product in European market.
Coil Coatings Market Competitive Landscape:
Coil Coating Market is BASF SE, Akzo Nobel N.V, the Valspar Corporation and the Dow Chemical Company has dominated the global coil coating market share in 2016. These are vertical integrated company dominating price value in competitive market. Major market players are offering strong distribution and sales channel to trap the untapped market. With strong channel companies are able to play with prices of raw material and provide quality services on high demand supply.
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Coil Coatings Market Application:
Coil Coating is multi-layer coating of pigments, resins and primers used to coat metal sheets such as aluminium and steel. These are used to protect the material from harsh diverse environmental conditions and provide corrosion resistance. Coated rolls, strips and sheets are used in many commercial and industrial applications. The growing demand of coil coatings is due to extensive use of coated material in end user industries such as construction, automobile, electrical and electronic and other consumer appliances. Growing non-residential construction activities including commercial building, manufacturing industries and factories has triggered the demand for coil coatings to sustain harsh weather conditions.
Coil Coatings are segmented into polyester, polyvinylidene fluorides (PVDF), polyurethane, silicone modified polyester and plastisol. Polyester coating is leading segment and is projected to grow at 5% CAGR over the forecasted period. Owing to superior properties, polyester coil coating provides excellent resistant to corrosion and weather conditions. Thus, low cost of polyester is also expected to drive the demand for polyester coil coating across the application industries. Polyvinylidene fluorides (PVDF) coatings is also expected to increase significantly due to their properties such as longevity coupled with providing aesthetic appeal is suitable to sustain in harsh conditions.
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