Coil Coatings Market - Market by Type (Polyester, Fluropolymer, Siliconized Polyester, Plastisol, and Others), by Application (Steel & Aluminum), and by End User Industry (Building & Construction, Appliances, Automotive, and Others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Coil Coatings Market held USD 736.51 million in 2020 and is to grow with a CAGR of 4.2% from 2020-2030. Oil Coating refers to the metal coil coating process. These coats come in different color and finish sets. Coil coating system is composed of top coat, back coat and foundation. This coating method replaces the conventional process of metal coil making. Coil coating method is commonly adopted by industries because of the various factors such as higher efficiency and low environmental effects. The method involves washing, preparation for conversion, drying, priming, top coating, and laminating foil. Within the coating industry a number of formulations are used; but the most prevalent formulations are polyester, polyflourocarbons, acrylic alkyds, plastisol, etc.

Market Dynamics and Factors:

Along with its applications, the global coil coatings market has experienced a gradual growth in recent years, and this growth is expected to increase in the upcoming years. Properties such as hardness, stain resistance, durability and corrosion resistance, and increased demand in building and construction coatings, appliance, automotive, and other end-user industries will be main driving factors for global coil coatings market with increased focus on their various applications and forms of coating resin. A large number of building project participants are very receptive to pre-coated cladding implementation. It offers an opportunity for artists to experiment with different colors, forms and harmonies to use, thus providing a variety in global coil coatings market. The paint and coating formulators have made considerable efforts to investigate paints and coatings based on materials which are less harmful to the environment and human health.

Market Segmentation:

Based on the type, the global coil coatings market is segmented into polyester, fluropolymer, siliconized polyester, plastisol, and others. On the basis of end-user, the global coil coatings market is bifurcated into building & construction, appliances, automotive, and others. On the basis of application, the global coil coatings market is segmented into the steel & aluminum. Geographic breakdown of global coil coatings market includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Continuous construction expenditure in Asian countries like China and India, due to rapid industrialization and urbanization, would increase demand for the products, thus fuelling the global coil coatings market growth. The region accounts for about 50 % of global capital expenditure as China and India offer huge customer base along with low wage labor, attracting multiple players in the region from the construction industry. The expenditure on non-residential construction in countries like the U.S. would raise the size of the demand for coil coatings over the study timeframe and boosting the demand in global coil coatings market. Non-residential construction investment in the country has risen  according to the United States Census Bureau. Increase in use of coil coatings in furniture and construction goods manufacturing is expected to boost demand for the drug. The coil coating products are used in applications for furniture such as filing cabinets, storage units, shelving, desks and others.

Competitive Scenario:

Some of the major players of global coil coatings market are Metal Coatings (INDIA) limited (MCIL), Akzo Nobel N.V., BASF SE, PPG Industries Inc., The Valspar Corporation., Toyo Ink, Beckers Group KGaA., Henkel AG & Co. Bulk Chemicals Incorporated, The Dow Chemical Company, Axalta Coating Systems LLC, Nippon Paint Co. Ltd., ACE Coating. Solvosol Paints Pvt.Ltd., and Dura Coat Products, Inc.

Coil Coatings Market Report Scope