Functional Coil Coatings Market Massive Revenues Expected as Market Size Gains Traction | NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta)

The global functional coil coatings market size was valued at $368.5 million in 2017 and is projected to reach $509 million by 2024, registering a CAGR of 4.8% during the forecast period. Functional coil coating is conducted on metals, such as steel and aluminum. Coats used in functional coil coatings process comprise materials such as acrylic, polyester, PVDF, and epoxy resin for enhancing the aesthetics. Similarly, these coatings provide metals protection against corrosion and other metal weakening processes.

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Increase in demand for corrosion resistant products drives the global functional coil coatings market. Owing to the advantages of functional coil coating process the demand for pre-coated metal is on an increase in the automotive, home appliances, and furniture industries. Steel and aluminum surface coating increases its durability, and provides additional protection against the corrosion, which has increased demand for functional coil coated steel and aluminum parts & sheets in the construction industry. However high cost of the process equipment and consumers propensity toward using the product which does not comprise steel and aluminum restricts the global functional coil coatings market growth. On the other hand, recycling of the coating waste and increasing use of organic coating materials is anticipated to provide the future market growth opportunity.

The global functional coil coatings market is segmented based on material type, technology, product type, end user, and region. By material type, it is classified into polyester, epoxy, PVC/vinyl, plastisol, PVDF, acrylic, and polyurethane. The primer segment accounted for the maximum share in 2017 because primers are formulated to stick to surfaces and to create a binding layer, which binds to paint or topcoats. Further, primers are essential for avoiding material corrosion as well as paint or coating degradation. Based on technology, the global functional coil coatings market is classified into liquid coating and powder coating. By product type, the global functional coil coatings market is classified into topcoat, primer, and backing coat. In terms of end user, it is divided into construction, appliance, automobile, and others. Based on region, the functional coil coatings industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global functional coil coatings market include KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries.

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KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current trends and emerging estimations in the global functional coil coatings market.
In-depth analysis is conducted through market estimations of key segments from 2017 to 2024.
Comprehensive analysis of factors that drive and restrain the growth is provided in the report.
Extensive analysis of the global functional coil coatings industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the global functional coil coatings market.

COVID-19 Impact

In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.

The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.

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KEY MARKET SEGMENTS:

Material Type

Polyester
Epoxy
PVC/Vinyl
Plastisol
Acrylic
Polyurethane
PVDF

By Product Type

Topcoat
Primer
Backing Coat

By Technology

Liquid Coating
Powder Coating

By End User

Construction
Appliance
Automobile
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

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This release was published on openPR.