Market Research Report
Global Coil Coatings Market, By Product, By Application, and By Geography - Analysis, Size, Share, Trends, & Forecast from 2021-2027
|Global Coil Coatings Market, By Product, By Application, and By Geography - Analysis, Size, Share, Trends, & Forecast from 2021-2027|
Published: July 1, 2020
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Content info: 180 Pages
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Global Coil Coatings Market, By Product (Siliconized polyester, Polyester, Fluoropolymer, and Plastisol), By Application (Construction, Automotive, and Appliances), and By Geography (EU, NA, APAC, LATAM, and MEA) - Analysis, Size, Share, Trends, & Forecast from 2021-2027.
Coil coatings market was valued at USD 5.26 billion by 2019, growing with 6.11% CAGR during the forecast period, 2021-2027.
Coil coating is an automated and continuous process that coils the metal before fabrication. In general, one continuous metal coiling process can wind up to 72 inches wide moving up to 700 feet per minute of the metal sheet. The treatment very precisely wraps up the coil on metal, without any damage; the metal sheets are then cleaned, treated chemically, primed, oven cured twice, rewound, and packed for the shipment. Coated coil offers attractive topcoats, green benefits, durable and long-lasting surfaces, and is cost-effective. The above-mentioned factors serve to be the key pointers that increase the demand for coated coil among consumers.
The global coil coatings market growth is expected to boost during the forecast years, accounting for the robust growth recorded in the construction industry, increasing demand from automobile sectors, and the changing manufacturing format by home appliance manufacturers. Furthermore, the collective demand for both the commercial and residential and furniture from emerging countries coupled with the urging need for enhanced efficiency of packaging materials also aids in adding the trust to the industrial growth.
Accord reporting to the new study published by the U.S. Census Bureau, stated that, as of May 2020, the total construction spending was estimated to be $1,356.4 billion. Furthermore, the upsurge in the requirement of steel and aluminum protected skyscrapers from the Middle East creates lucrative growth opportunities for the coating industry. The demand for light-weight materials from automobiles and the replacement of paint aluminum sheets with plastic panels in the building and construction industry acts as a substitute for coated coils. Nevertheless, the expensive coating technologies and the above mentioned key pointers serve to be the global coil coatings market restraints, obstructing the demand.
By type, the worldwide coil coatings market is categorized into Polyester, Fluoropolymer, Siliconized polyester, and Plastisol. Among all, the polyester segment accounted for the largest share, 58.64% share of the global industry in 2019, which is predominately influenced by its exceptional and excellent flow characteristics and its suitability to a wide range of temperatures and applications in pre-engineered buildings. The increasing applications of polyesters in truck trailing applications, residential roofing systems, etc. are also expected to shoot the business growth to the maximum verge of profits.
On the other hand, the siliconized polyester is also expected to grow with a promising growth rate. The growth witnessed by this segment accounts for its application in both protective and decorative coating for electrical or electronic equipment coupled with the research and development activities for improving the product quality, like the introduction of Durastar Ultra-Cool coatings, by PPG Industries. The coating combines with silicone-modifies polyester coatings and infrared-reflective pigments to enhance the beauty of panels, building components, etc.
Based on the application, the global market is bifurcated into construction, automotive, and appliances. The construction segment dominates the segment with a total industrial share of 63.98% in 2019. The growing construction segment is also expected to grow at the same pace during the forecast years, accounting for its significant applications in pre-coated products that are utilized in roofing and wall claddings of the buildings. Polyester coating and siliconized polyester coatings are widely used in the construction industry.
Besides, the coil coating is also known for its infra-red reflective pigment technology, apart from its functionality and durability; this helps in easing the interior temperature of the building. Other factors such as rapid urbanization, growing infrastructure activities, and the rising government spending to improve and maintain public infrastructure is also expected to shoot the market growth to the maximum verge of profits.
Regionally, the overall market is divided into North America, Middle East & Africa, Asia Pacific, Latin America, and Europe. Asia Pacific region captured a maximum share of 40.61% globally in 2019; whereas the growth recorded in developed regions including North America and Europe are growing considerably with a CAGR of 5.12% and 5.62% respectively. The Asia Pacific coil coating market potential accounts for the growing construction industry in emerging nations such as India, China, Thailand, etc. along with the growing automobile in the same region.
According to the 2019 production statistics unveiled by the International Organization of Motor Vehicle Manufacturers (OICA) stated that China alone manufactured the highest number of vehicles, including that of cars and commercial vehicles. The total count of vehicles produced in China was 25,720,665; whereas the total production in Japan and India was estimated to be 9684298 and 4516017 respectively. On the contrary, the growth in North America and Europe accounts for the increasing expenditures on non-residential buildings, increasing disposable income, and the growing demand from end-user industries.
The outbreak of coronavirus has adversely affected the coil coating industry and has brought a deep recession caused due to the effects of lockdown across the globe. As a result of the demand, the coating sector virtually collapsed for a period and still unlikely to revive from the loss. This has also resulted in the delay in the process of export of raw materials from China; thereby, affecting the production and supply chain of the global coil coating market.
KEY VENDOR TAKEAWA
The leading players of the global coil coatings market include ACE Coating, Akzo Axalta Coating Systems, Nobel N.V., Bulk Chemicals Incorporated, Dura Coat Products, Inc., Beckers Group, PPG Industries, Sherwin-William, Solvosol Paints Pvt. Ltd., and Toyo Ink.
Companies are focusing on new product development, mergers, and acquisitions, opening of a new facility for marking their existence in the intensely competitive environment faced in the coating industry. For instance, in November 2018, Axalta inaugurated world's largest R&D centre dedicated to coatings and colour at the Navy Yard in Philadelphia, the U.S. Similarly, in October 2018, Nippon Paints launched a joint coil coatings innovation center with Wiskind, leading to the development of some value-added products in the coil coatings market.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2016 to 2018
Base Year - 2019
Estimated Year - 2020
Projected Year - 2021 to 2027
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL COIL COATINGS MARKET KEY PLAYERS
Akzo Nobel N.V.
Axalta Coating Systems LLC
Bulk Chemicals Incorporated
Dura Coat Products, Inc.
Solvosol Paints Pvt. Ltd.
GLOBAL COIL COATINGS MARKET, BY TYPE
GLOBAL COIL COATINGS MARKET, BY APPLICATION
GLOBAL COIL COATINGS MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA