What's driving the Coil Coatings Market share? | by Top Key Participant BASF SE, Akzo Nobel N.V., The Valspar Corporation., PPG Industries Inc,
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Robust growth of automotive and construction sectors particularly in emerging economies will be the major factor driving future demand for metal coils and other essential components. Global Market Insights, Inc., estimates that global coil coatings market size will reach over US$4.5 billion by 2026.
BASF SE, Akzo Nobel N.V., The Valspar Corporation., PPG Industries Inc., Beckers Group, Dura Coat Products, Inc, Henkel AG & Co. KGaA., The Dow Chemical Company, Bulk Chemicals Incorporated, Nippon Paint Co. Ltd., Axalta Coating Systems LLC, Metal Coatings (INDIA) limited (MCIL), Solvosol Paints Pvt.Ltd., Toyo Ink., ACE Coating.
Critical questions addressed by the report:
* What are the key market drivers and restraints?
* What will be the market size until the end of the forecast period?
* Which segment is expected to take the lion's share?
* Which region will lead the global coil coatings market in terms of growth?
* What will be the key strategies adopted by market leaders in future?
* What are the upcoming applications?
* How will the global coil coatings market develop in the mid to long term?
* Which policies and regulations will highly impact the global market?
* How will the competitive landscape change in the near future?
* What are the current and future opportunities in the global market?
Favorable impact of the booming automotive sector
The global automotive sector is undergoing a profound transformation. This can be majorly attributed to millennials and their growing preference to purchase their own vehicles. According to the International Organization of Motor Vehicle Manufacturers (OICA), total vehicle production jumped to more than 95 million vehicles in 2018, up from around 90 million in 2015.
These numbers are further expected to grow over the coming years on account of strong economic development, increasing purchasing powers of consumers globally and robust demand for electric vehicles.
Pre painted metal finds widespread use in various parts and components in both commercial as well as passenger vehicles. This includes doors, beams, windscreen, wiper blades, oil filters, instrument dials, and corrosion prevention to name a few.
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Recreational vehicles prominently used pre painted metal as the key material for construction of the body. Coil coatings serves as a cost-effective option for achieving a high-quality and reproducible finish in automobiles.
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