Coil Coatings Market Growth & Analysis | 2023-28

Market Insights

The coil coatings market is estimated to grow from USD 5.66 billion in 2022 to USD 7.98 billion by 2028 at a CAGR of 5.79% during the forecast period.

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There has been a high demand for coatings in the construction of buildings, automotive, and consumer appliances, among other end-use applications. In addition, coil coatings have several advantages including flexibility, stain resistance, corrosion resistance, and hardness, which have boosted their demand, in general.

Coil coating has good adhesion attributes along with being eco-friendly in nature, it has become an integral part of many end-use industries. These coatings are also used in the construction of downspouts and gutters, so as to help collect rainwater.

What are coil coatings?

Coil coating is a continuous and automated industrial process, which majorly helps in efficiently coating metal coils. The coil coatings work on an effective and simple principle, which includes pretreating, cleaning, and coating flat coils or sheets of aluminum/steel.

Key Players

Some of the key players in the market are-

• Solvay
• Beckers Group
• Akzo Nobel N.V.
• Arkema
• Axalta Coating Systems, LLC
• BASF SE
• Henkel AG & Co. KGaA
• PPG Industries, Inc.
• The Sherwin-Williams Company
• Wacker Chemie AG

Market Dynamics

The coil coatings market is driven by a host of factors, some of which are noted below:

• Growth drivers of the coil coatings market are the increasing demand from downstream industries.
• Surging competition among the major coil coating manufacturers.
• Rapidly growing construction and automotive industries.
• Excellent product quality, and compliance with the environment.

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Segment Analysis

By Product Type

The market is segmented into polyester, silicone-modified polyester [SMP], polyvinylidene fluorides [PVDF], polyurethane [PU], plastisols, and others. Among these product types, polyester is estimated to account for a high market share, during the forecast period.

As a result of its superior properties, polyester coil coating helps in providing exceptional resistance to weather conditions and corrosion. Also, the low cost of polyester, which results in increasing its applications across the end-use industries, is expected to boost the market for polyester coil coatings.

Moreover, polyester helps in providing superb flow characteristics to an extensive range of temperatures and is very much suitable for external applications such as doors and residential rooftops. Therefore, there is a significantly high demand for polyester coil coatings currently.

By Application Type

The market is segmented into construction, automotive, appliances, and others. Among these applications, the construction application is expected to gain the maximum traction in the market over the forecast period.

There has been a significant expenditure in the construction industry, worldwide, which is one of the largest end-use industries for coil coatings. As a result of the increasing infrastructure developments and rapid industrialization across the globe, it is anticipated that the global coil coatings market would witness steady growth.

By Region

The market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Among these regions, Asia Pacific is expected to be dominant throughout the forecast period. The market growth in this region is majorly attributed to the presence of a large number of coil-coating manufacturing companies and a wide range of end-use industries.

The automotive industry is growing in the region, which has significantly escalated the overall market demand. Countries such as India, Malaysia, Japan, and Indonesia have witnessed a steady increase in vehicle production, as per the International Organization of Motor Vehicle Manufacturers (OICA). Furthermore, there has been a surge in construction activities and infrastructure development in the region, especially in China and India, which would induce a high growth potential in the overall market landscape of the Asia Pacific region.

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Segmentation

The report provides detailed insights, to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Product Type

• Polyester 
• Silicone Modified Polyester [SMP] 
• Polyvinylidene Fluorides [PVDF] 
• Polyurethane [PU])
• Plastisols
• Others 

By Application Type:

• Construction 
• Automotive 
• Appliances 
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the application types by product type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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