Coil Coatings Market Analysis | 2023-2028

Market Insights

The coil coatings market was estimated at USD 5.66 billion in 2022 and is likely to grow at a CAGR of 5.79% during 2023-2028 to reach USD 7.98 billion in 2028.

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Market Dynamics

Introduction

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.

Coil coating has good adhesion attributes and is eco-friendly, it has become an integral part of many end-use industries. These coatings are also used to construct downspouts and gutters, to help collect rainwater.

Market Drivers 

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.
• 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 generally boosted their demand.

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Key Players

The following are the key players in the coil coatings market:

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

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Product Type

"Polyester is estimated to account for a high market share, during the forecast period"

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

"Construction application is expected to gain the maximum traction in the market over the forecast period"

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 will witness steady growth.

Regional Analysis 

"Asia Pacific is expected to be dominant throughout the forecast period"

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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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s functional coil coatings market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 15 detailed primary interviews with market players across the value chain in all four regions and 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The coil coatings 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, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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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

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.