Coil Coatings Market Key Players Analysis, Trends and Forecasts 2023

Posted by Moin Patni on October 3rd, 2018

Coil Coatings Market

Coil Coatings Market Overview: Coil Coatings Market was UDS 4.3 Billion in 2015 and is expected to grow at USD 7.6 Billion in 2021 with estimated CAGR of 6.1% between by 2016-2021.

Coil Coatings advanced layer coating used to coat materials such as metal sheets, tin, steel and aluminium. Coil coatings is extensively used in construction and automobile sector owing to superior properties such as corrosion resistance, UV protection, high tensile strength and good adhesion property. Currently, growing non-residential construction activity such as large factories, industrial sites has boosted the demand for coil coating market to sustain the harsh weather conditions. The global infrastructure expenditure is expected to reach USD 5 Trillion over the forecasted period.

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Coil Coating Market Growth: Coil Coating Market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the world. Presence of few key players will lead to monopoly situation and competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for coil coating in transport and construction industries will influence the end user products from these industries. Coil coating market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.

Coil Coatings Market Application: Coil Coating is multi-layer coating of pigments, resins and primers used to coat metal sheets such as aluminium and steel. These are used to protect the material from harsh diverse environmental conditions and provide corrosion resistance. Coated rolls, strips and sheets are used in many commercial and industrial applications. The growing demand of coil coatings is due to extensive use of coated material in end user industries such as construction, automobile, electrical and electronic and other consumer appliances. Growing non-residential construction activities including commercial building, manufacturing industries and factories has triggered the demand for coil coatings to sustain harsh weather conditions.

Coil Coating Market is leading market owing to rapid industrialization and urbanization in developing as well as developed regions. The increasing government infrastructure expenditure to improve public transport and tourism particularly those countries which totally rely on tourism has stimulated the demand of coil coating in those regions. Wood panels, roofs, metal sheets are some of the products using coating material for construction and provide artistic appeal to commercial and residential buildings.

Coil Coatings are segmented into polyester, polyvinylidene fluorides (PVDF), polyurethane, silicone modified polyester and plastisol. Polyester coating is leading segment and is projected to grow at 5% CAGR over the forecasted period. Owing to superior properties, polyester coil coating provides excellent resistant to corrosion and weather conditions. Thus, low cost of polyester is also expected to drive the demand for polyester coil coating across the application industries. Polyvinylidene fluorides (PVDF) coatings is also expected to increase significantly due to their properties such as longevity coupled with providing aesthetic appeal is suitable to sustain in harsh conditions.

Coil Coating Market is growing with the impulsive pace; mainly due to the proliferation of construction industry. The global construction market is anticipated to increase at a faster growth than world GDP over the forecast period owing to the Asian economies continue to industrialise and coupled with US recovers from the sharp downturn during the global financial crisis.

Coil Coatings Market Key Players: Coil Coating Market Players are: BASF SE (Germany), Akzo Nobel N.V (Netherlands), The Valspar Corporation (U.S), PPG Industries, Inc. (U.S), E. I. du Pont (U.S), The Dow Chemical Company (U.S), Wacker Chemie AG (Germany), Nippon Paint Holdings Co., Ltd (Japan), Axalta Coating Systems LLC. (U.S), Henkel AG & Co. KGaA (Germany) and others.

Coil Coatings Market Regional Analysis: The market is classified and analysed based on various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Coil Coating market is largest market owing to robust industry growth of end user industry in China and India. Rapid industrializations, favourable government regulations and increase in per capital income will significantly grow the coil coating market in emerging economies such as China, India and Japan.

North America is second largest region in coil coating market. U.S is dominating segment owing to key players in these regions has shifted their production in developing regions to trapped the competitive market. Automobile sector in these region is growing rapidly which led to rise in product segment in these regions. European debt crisis has affected many industries like construction, automobile and appliances. Due to this key player has reluctant to invest in these regions. This has led slow growth of product in European market.

Coil Coatings Market Competitive Landscape: Coil Coating Market is BASF SE, Akzo Nobel N.V, the Valspar Corporation and the Dow Chemical Company has dominated the global coil coating market share in 2017. These are vertical integrated company dominating price value in competitive market. Major market players are offering strong distribution and sales channel to trapped the untapped market. With strong channel companies are able to play with prices of raw material and provide quality services on high demand supply.

Coil Coatings Market Segmentation: Coil Coating Market is majorly segmented on the basis of resin type and end user industry. Based on resin type, Coil Coating market is segmented into polyester, polyvinylidene fluorides (pvdf), polyurethane, silicone modified polyester and plastisol. Based on end user industry of Coil Coating, the market is segmented into Construction, Automotive, Electrical & Electronics, Consumer appliances, Others.

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