Coil coating market to show robust growth via automotive and construction sectors

Global Market Insights, Inc., estimates that global coal coatings market size will reach over US$4.5 billion by 2026. 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.

Coil coating is a continuous, sophisticated and highly-automated industrial process used for coating metal coils. Pre-painted metal is virtually everywhere, on roads, bridges, pipes, industrial machinery, and countless other products. Global coal coatings market outlook will be propelled by extensive application in automotive, construction and electrical appliances over the coming years.

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Infrastructure development has been a major force driving the economic growth in developing regions such as Asia Pacific and the Middle East. Rapid population growth and the subsequent rise in urbanization are further expected to accelerate public and private investments. The Asian Development Bank (ADB) has forecasted that a developing APAC will need to spend close to $1.7 trillion per year on infrastructure through 2030 to keep pace with the current rate of economic growth.

Increasing adoption of home appliances, such as refrigerators, washing machines, and light sources has influenced coil coatings market trends in recent years. Coil coatings are highly utilized in various industries, including construction, home appliances, packaging, furniture, etc. The construction industry is continuously expanding and inducing demand for coil coatings. China is expected to showcase significant growth owing to the rising construction and manufacturing activities in the country, which will help in the proliferation of coil coatings industry size in the ensuing years.

Rapid urbanization and growing middle-class population have considerably contributed to massive demand for home appliances globally, which is likely to influence coil coatings industry growth. In addition, the incorporation of technologically advanced appliances in modern-day lifestyles, along with augmenting demand for connected homes is also anticipated to induce substantial coil coatings industry demand. Several home appliances, such as refrigerators, washing machines, dishwashers, and ovens are extensively used for carrying out routine activities. Also, governments of multiple countries are undertaking initiatives to improve sustainability of appliances. The fact can be validated by European Union’s 2019 initiative pertaining to energy efficiency. The organization introduced strategies, including eco-designs to increase energy efficiency of various home appliances, such as light sources, refrigerators, electronic displays, washing machines, etc.

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On the basis of product, coil coatings market has been segmented into silicone modified polyester (SMP), polyester-based coatings, PVDF coatings, plastisol coatings, PU coatings, etc. Among all, polyurethane coatings are likely to witness huge adoption owing to their desirable attributes, such as toughness, improved gloss cosmetic finish, and high resistance to chemicals. Moreover, high durability, enhanced corrosion resistance, and superior weather resistance properties of polyurethane coatings have favored their utilization the construction industry, which is likely to generate substantial market demand.

Growth Drivers:

- Robust growth in construction industry
- Growing demand from automotive sector
- Rising home appliance product demand worldwide
- Increasing high efficiency packaging material demand
- Increasing demand for residential and - commercial furniture in growing economies

Major key players in the coil coatings market are 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.

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https://www.prnewswire.com/news-releases/powder-coating-market-to-exceed-usd-17-bn-by-2025-global-market-insights-inc-300940763.html

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