PUBLISHER: DataM Intelligence | PRODUCT CODE: 1217566
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1217566
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The global coiling coatings market size was worth US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).
The global coil coating market consists of sales of coil coatings by sole trader organizations and partnerships, which are used for coating coils using metals. It is an automated or continuous process of coating coils of metals with a polyester resin, such as pre-treating, cleaning and coating flat steel or aluminum sheets coils. The process includes exchange treatment, cleaning, drying, top coating, primer coating and foil lamination.
While the most common formulations are polyflourocarbons, polyester, alkyds, acrylics and plastisol, the main coiled coating markets are fluoropolymer, polyester, siliconized polyester, polyurethane (PU), polyvinylidene difluoride and plastisols. Polyester refers to synthetic fabrics which are usually derived from petroleum. The various applications include aluminum and steel. It is employed in automotive, construction, industrial, domestic appliances and other industries.
The constant evolution of numerous industries, such as automotive, construction and consumer appliances, drives the coil coatings market. As a result, demand for high-performance coil coatings and composite coatings for metals is expected to rise during the forecast period. Increased demand for polyvinylidene fluoride coatings for electric vehicles will also drive the coil coatings market during the forecast period.
Increasing demand for coiling coatings in the construction industry's and automobile industry
The construction and building industry is the largest consumer of coil coatings. The main resins used extensively in construction are polyester resin, silicone-modified polyester, polyvinylidene fluorides (PVDF) or fluoropolymer. The increase in building codes promotes home builders and energy-efficient structures. The end-user is gradually moving toward building strategies that deliver performance and energy savings in the long run. Coil coatings offer sealants applied and protective coatings to various surfaces to improve their looks, adhesion, corrosion resistance and scratch resistance. The increase in demand for coil coatings from the building and construction industry is expected to boost the growth of the coil coatings market in the coming years.
In the automobile industry, coil coating is widely used in the pre-painted steel and aluminum sheets for usage in automobile parts and other vehicles, such as cars and bikes, driving the demand for coil coatings. Furthermore, an increase in customers' disposable income is also propelling the coil coatings market. The increase in the use of vehicles has impacted global automobile production, driving the global coil coatings market. Coil coatings are used in the automobile industry due to their chemical characteristics, such as paint adherence and chemical and water resistance.
The high cost of raw materials impact on restrains the market growth
The high cost of raw materials coupled with the growing prices of coil coatings is a major factor expected to hamper the market growth. Moreover, coil coating processes involve numerous tools and machinery for coating applications. The tools are used for a longer period, resulting in their wear and tear and a major threat to the global coil coating market. The increased costs of raw materials and the growing prices of coil coating restrict market growth.
COVID-19 impact analysis
The COVID-19 pandemic has negatively impacted the demand for materials used in the construction industry. The sector's path to recovery depends on the duration of the restrictions imposed and their impact on global economic activity. The COVID-19 pandemic had an uneven impact on the global coiling coatings market. The manufacturing was closed during the pandemic. Trade restrictions, breaking supply chains, government restrictions on manufacturing products and global lockdowns can affect demand. Therefore, the construction materials processing factories, building and construction and elements industries were closed. The demand for the coiling coating market decreased internationally.
The global coiling coatings market is segmented into type, application end-user and region.
The polyvinylidene fluoride segment covered a large area of the coiling coatings market due to anti-corrosion properties
The coiling coatings type is further segmented into silicone-modified polyester, polyester, polyurethane (PU), polyvinylidene fluoride (PVDF), epoxides, plastisol and acrylics. The polyvinylidene fluoride segment covered a large area of the coiling coatings market. It offers high anti-corrosion properties and extends the lifespan of metals. The polyvinylidene coil coatings are cost-effective and will positively impact future market demand. The aforementioned properties of the polyvinylidene fluoride type segment enable it to dominate the global market, boosting the global coiling coatings market.
The growing construction sector and presence of global players enable Asia-Pacific to dominate the global coiling coating market's regional segment
Asia-Pacific holds the largest share of the coiling coatings market in the residential and construction sector. An increase in demand for coiling coatings in commercial buildings such as banks, offices and malls is expected to boost the market in the region. The Indian government has initiated projects, such as 100 smart cities and housing for all, by 2022, which is expected to drive the Indian residential construction market over the forecast period. Such initiatives are leading to increased building and construction activities by the government in the region. Owing to the rise in individuals' per capita income, the demand for advanced construction and infrastructures in the region is growing more and more, which supports the growth of the Asia-Pacific coiling coatings market.
Additionally, many international and packaging developing companies have a presence in the Asia-Pacific and many manufacturing companies based in China and India also exist. The respective fact allows the region to see growth in the future. The innovations and developments in roofing, power generation and transportation application support the growth of the regional coiling coatings market.
The global coiling coatings market is highly competitive, with many regional and global players operating globally. Manufacturers implement strategies such as new product launches, collaborations, partnerships, mergers and acquisitions.
The major players contributing to growth in the market are AkzoNobel, The Chemours Company, Axalta Coating Systems, PPG Industries, The Valspar Corporation, Becker Group, Henkel AG & Co. KGaA, Kansai Paint CO. Ltd., Eastman Chemical Company and Dura Coat Products, Inc. The major players in the market adopt several growth strategies such as formulating and patenting new molecules, researching new sources, collaborations and joint ventures to contribute to growth in the industry.
Overview: Akzo Nobel N.V. is a major player among the world's largest chemical producers. It produces various chemicals, including performance chemicals, paints, polymers, industrial solvents, catalysts and coatings. The company owns 390 production sites in more than 80 countries. Akzo Nobel N.V. was founded in 1994 through the merger of AKZO and Nobel Holdings. The company is headquartered in Amsterdam, Netherlands. The company operates in the regions, including North Asia, South Asia-Pacific, EMEA, North America and South America and its business segment includes decorative paints, performance coatings and corporate and others.
The global coiling coatings market report would provide approximately 61 market data tables, 65 figures and 210 pages.
Target Audience 2023
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