PET Film Coated Steel Coil Market 2020 | Top Key Players - JFE Steel, Changzhou Simpson Steel Co. Ltd., Baosteel Co. Ltd, Tata Steel

In the latest research report by Global Market Insights, Inc., PET film coated steel coil market size is poised to surpass US$700 million by 2025.

Recent years have witnessed prominent companies across the globe striving to streamline operations to reduce production costs and save time. Polyester film coating steel coil has become popular in the wake of its chemical resistance, tensile strength, clarity and thermal stability.

Amid the presence of a slew of films in a range of coating and thicknesses combinations, PET films have been gaining traction in a slew of applications such as washing machine, refrigerators and dishwashers.

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Industry dynamics and trends that may have significant impact on PET film coated steel coil landscape are elucidated below:

Trends in home appliance

Lately, traction for PET film coated steel market for home appliance has been setting the trend in the business space. For instance, laminated steel sheets are highly being sought-after in manufacturing of electrical and electronics home electronics.

Increased traction for Pet films in home appliance is being attributed to high thermal resistivity, scratch resistance, temperature and humidity resistance, and excellent strength.

Trend for smart home has augured well for the expansion of PET film coated steel coil market and will continue to witness an upward trajectory in the next five years. Prominently, adoption of microstructure control with formability, magnetic shielding will boost the industry growth.

It is worth noting that there has been palpable shift towards steel coils from aluminum coils on the heels of some of the properties such as superior strength and thermal resistance to both low and high temperatures. Moreover, inclination for printing and coloring will also redefine the industry outlook.

Growth drivers emphasizing smart kitchen appliances

As PET films are ideal for effective recycling, demand for low carbon emissions and energy-efficient products is likely to gain ground globally. Moreover, developments in technology have led to smartphones being paired with refrigerators.

End-markets have exhibited increased traction towards smart kitchen appliances in the wake of palpable growth being observed with the advent of IoT and installation of cold-water taps on the door.

Opportunities in APAC and North America

Well established brands and budding companies may be inclined towards refrigeration application portfolio. Surged demand for ready-to-eat foods has furthered the traction for energy-efficient refrigerators offering convenient and safe alternative for food preservation.

Industry players are contemplating infusing funds in North America for it has exhibited trend for smart home appliances. Notably, increasing pressure to reduce carbon emissions is expected to foster the demand for PET film coated steel coil in the region.

APAC, spearheaded by India, Japan, China, Vietnam and Malaysia, will also be replete with investment as these counties witness business expansion of electrical and electronics home appliance. Leading companies are vying to streamline supply chain in to gain a competitive edge in these countries.

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Challenges: Fluctuating prices

Stakeholders may face the challenges in the shape of fluctuating prices of the coated steel coils and rigorous regulations being implemented by environmental watchdogs.

Expanding trend for smart home appliance across North America and APAC will add fillip to the PET film coated steel coil market. Home appliance application portfolio will gain momentum, while investment in refrigeration will also observe an upward trend.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.