Market Research Report
Coil Coatings Market - Forecast (2020 - 2025)
|Coil Coatings Market - Forecast (2020 - 2025)|
Published: March 11, 2020
Content info: 104 Pages
Delivery time: 2-3 business days
As documented in the Steel Statistical Yearbook 2018 by the World Steel Association (WSA), global steel production was valued to be 1,690,479 tons, which is nearly 4% greater than that in 2016. The upsurge in steel production worldwide is attributable to the growing demand for steel from various sectors. Before used for fabrication, steel is being coated with coil coatings. The production growth of steel is significantly supporting the coil coatings market that had a market size of $5 billion as of 2018. Furthermore, the demand for coil coatings is estimated to increment at a healthy CAGR of 5% during the forecast period of 2019 to 2025.
APAC has been observing rapid growth in the industrial sector for quite a few years. These industries chiefly include the construction and automotive sectors that are attributed to heavy use of metals that are coil-coated before end-use application. The rising growth prospects in the real estate sector with an increasing demand for low-cost housing is leading to an augmented demand for steel that is used in construction. China is the leading country in APAC that has witnessed a continuous rise in the real estate and automotive sectors followed by India. APAC had the maximum regional coil coatings market share of 48% in 2018.
Coil coating or functional coil coating is a continuous or automated process of coating coils of metals with polyester resin and other coating materials for further use, and these coatings have properties such as stain resistance. They are used for automotive coating applications and in each sector that uses metals.
The key application of coil coatings is in the building and construction sector. According to the International Federation of Accountants (IFAC), nearly half of the material that contributes to the global economy which translates to 42.4 billion tons, is used in the construction sector for the maintenance of infrastructure. Evidently, a significant part of this material is because of the use of metals in the building and construction industry which warrants coil coatings. Owing to the fact that the construction industry is poised to dominate the global GDP to suffice the sustainable development goals of the United Nations (UN) for the growing population, the application of coil coatings in the building and construction is estimated to observe a steady CAGR of 5% through to 2025.
The total number of motor vehicles produced in 2018 was 91,538,640, according to the findings by the International Organization of Motor Vehicles Manufacturers (OICA). Furthermore, the future foresees a tangible increase in production of the same, and it's also evident in the conceivably catapulting boom in the electric vehicles market and self-driven trucks market. With the enhanced production of motor vehicles, the use of metals will increase which will lead to a perceptible surge in demand for coil coatings across the globe. With the automotive industry proving to be a sustainable coil coatings marketplace, the future will observe a gamut of vendors reaping revenues by providing coil coatings and services pertaining to it.
There is a discernable growth in demand for oil & gas resources across the globe which is again because of the augmented demand from the automotive and aerospace industry. Evidently, oil & gas is one of the major sectors that utilize metals and alloys, especially steel in structures, pipelines, reactors, and other equipment that are an integral part of an oil & gas plant. Apparently, most of the steel products undergo the coil coating process before being used for various applications. The steel and other metals utilized in the oil & gas industry are creating a revenue avenue for the vendors in the coil coatings market.
Electrical and electronic devices are attributed to a hefty use of metals for coils, inductors, transformers, armatures, and even home appliances. The metals used in these applications undergo coil coating. With the emergence of new transformers and armatures to suffice the global need for electricity, the vendors in the coil coatings industry will leverage the demand for metals.
Coil Coatings Market Trends -
Coil Coatings Market Challenges -
The major challenges faced by the vendors in the coil coatings market are the enhanced expenditure on the coating technology and the surge in the cost of raw materials, which collectively increases the time duration to reach the breakeven point in the business. However, coil coatings find applications in lucrative sectors that enable their profit margins to shoot up. Moreover, the marketplaces for coil coatings are never going to observe a decline which further makes this market sustainable for new vendors to venture into.
Coil Coatings Market Key Players Perspective -
The major players leveraging the rise in demand for coil coatings and capitalize for the greater coil coatings market share are PPG, Axalta Coating Systems, Valspar, Nippon Paints, Kansai Nerolac Paints Ltd, Henkel AG & Co.,Wacker Chemie AG, DowDuPont, Wacker Chemie, and The Beckers Group.
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the coil coatings market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The coil coatings market research report also analyses the application of the product based on the type that includes polyester, fluororpolymers, and plastisol.
Coil Coatings Market Report: Industry Coverage
North America: The U.S., Canada, Mexico
South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
Middle East and Africa: Israel, South Africa, Saudi Arabia
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