Press release
Coil Coating Market Regional Analysis, Key Players, Industry Segments, Development, Opportunities, Forecast to 2030
Barite Market
Market Scope
The global coil coating market is predicted to reach a valuation of USD 7.6 billion by 2022. It was valued at USD 4.3 billion in 2015. The market is pegged to display a CAGR of 6.1% during the forecast period.
Eco-friendly features of good adhesion and high tensile strength can drive its adoption in end-use industries of consumer appliances, automotive, construction, and others. Large number of residential and commercial projects can fuel the market growth exponentially. Massive demand from downstream industries, rise of stringent environmental laws, and expansion goals of construction and automotive sectors can fuel the growth of the market.
But fluctuating prices of raw materials can impede market growth.
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Segmentation
The global coil coating market is segmented by resin types and end user industry.
On basis of resin types, coil coatings are segmented into polyurethane, silicone modified polyester, polyester, polyvinylidene fluorides (PVDF), and plastisol. Polyester will lead the market and is projected to grow at 5% CAGR over the forecast period. This can be attributed to its low manufacturing cost and resistance to corrosion and external weather. On the other hand, PVDF coatings are experience an overhauling demand owing to their long shelf life and capacity to shine in tough weather conditions.
By end user industry, it is segmented into automotive, electrical & electronics, consumer appliances, construction, and others. The construction segment can dominate the market by displaying more than double digit growth over the assessment period. The global construction expenditure is forecasted to reach USD 5 trillion over the forecasted period. Rapid industrialization, rise in government spending on infrastructural projects, and inflow of capital for international projects will drive the coil coating market in construction activities. The product is widely used in wall panels and roofs.
Regional Analysis
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are regions covered in the global Coil Coating Market report.
The APAC region can dominate the global market owing to China being one of the biggest producers and consumers of coil coatings. Rise of consumer spending, development of infrastructure, and rapid pace of industrialization are factors driving the regional market growth. Countries like Thailand and Indonesia can contribute to the market.
North America and Europe can be lucrative for the market owing to the application of coil coatings on household electrical appliances and automobiles. Construction of furniture such as desks, tables, chairs, storage units, and others can spur the demand of coil coatings in these regions.
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Competitive Outlook
PPG Industries, Inc., BASF SE, Akzo Nobel N.V, Wacker Chemie AG, E. I. du Pont, Axalta Coating Systems LLC, The Dow Chemical Company, Henkel AG & Co. KGaA, Nippon Paint Holdings Co., Ltd, The Valspar Corporation, and others are prominent players of the global coil coating market.
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