The global Coil Coatings market was valued at USD 5,263.14 million in 2019 and is expected to reach USD 8,438.65 million by 2027, growing at a CAGR of 6.11% from 2020 to 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.
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Coil coatings possess various properties such as enhanced resistance to weather & corrosion, design flexibility, and abundant availability of textures & colors. These properties make coil coating an ideal choice for the manufacturing of garage doors, metal roofs, storage units, and wall panels to improve the durability of the infrastructure.
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.
Based on type, polyester segment accounted for the largest share of the Coil Coating Market in 2019
Polyester 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.
Driver: The growing development of automotive and construction industry to be the major factors driving the market growth
The increasing development of the automotive owing to a surge in the production of motor vehicles industry across the globe is the major factor boosting the growth of global coil coating market.The growing development in the building & construction industry is also projected to propel the growth of the global coil coating market.
Challenges: The growing costs of raw materials coupled with the increased prices of coil coating to restrict the market growth
The increasing cost of raw materials coupled with the growing prices of coil coatings is a major factor expected to hamper the market growth. Moreover, the coil coating processes involve the use of numerous tools and machinery for coating applications. When these tools are used for a longer period of time, it results in their wear and tear, which is also a major threat to the global coil coating market.
Opportunities: Novel Products and R&D activities to create Lucrative opportunities in Coil Coating Market
The increasing investments in research & development and the novel product launches by key industry players are predicted to create enormous growth opportunities in the global coil coating market.
Impact of Covid-19 on Coil Coating Market
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 Market Players:
The leading players of the global coil coatings market include ACE Coating, Akzo Nobel N.V., Axalta Coating Systems LLC, Beckers Group, Bulk Chemicals Incorporated, Dura Coat Products, Inc., PPG Industries, Sherwin-William, Solvosol Paints Pvt. Ltd., and Toyo Ink
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Coil Coating Market Segmentation:
The Coil Coating market is segmented as follows:
- Siliconized polyester
- North America
Global Coil Coating Market TOC
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Coil Coating Market Outlook
4.2 Market Dynamics
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Coil Coating Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Coil Coating Market Share Analysis, By Type
5.3 Global Coil Coating Market Size and Forecast, By Type
5.3.3 Siliconized Polyester
6 Global Coil Coating Market, By Industry
6.1 Y-o-Y Growth Comparison, By Industry
6.2 Global Coil Coating Market Share Analysis, By Industry
6.3 Global Coil Coating Market Size and Forecast, By Industry
7Global Coil Coating Market, By Region
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