Coil Coatings Market 2023 Polaris Market Research, Size, Analytical Overview, Growth Factors, Demand and Trends Forecast to 2032

Coil Coatings Market Size Worth $8.33 Billion By 2032 | CAGR: 4.7%

The global coil coatings market size is expected to reach USD 8.33 billion by 2032, according to a new study by Polaris Market Research. The report "Coil Coatings Market Share, Size, Trends, Industry Analysis Report, By Material Type (Polyester, Epoxy, PVC, Plastisols, Acrylic, Polyurethane, PVDF, and Silicone); By Product Type; By Application; By End Use; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rising product demand for building & construction and the automotive industry and increasing environmental influences all over the world, coupled with the surge in the proliferation of fluoropolymer coatings for architectural applications, are prominent factors influencing the growth of the market. Additionally, advancements in application methods and equipment, which could lead to the creation of more precise and efficient coating processes, are likely to boost and influence the market positively.

For instance, in May 2023, Beckers introduced new paint formulations for the ultra-violet & coil coating industry.

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The rising proliferation of innovations in application methods, such as coil coating equipment and techniques, have significantly improved the precision and efficiency of the coating process while reducing waste and improving coating quality along with the development of new coil coatings with more improved and innovative features, will spur the growth of the market in the near future.

Furthermore, the growing trend toward electric vehicle adoption and sales and the surging need for lightweight materials across the automotive industry are likely to present lucrative opportunities for innovative coatings that can protect and enhance the appearance of metal components in electric vehicles.

For instance, as per a report published by IEA, the sale of EV vehicles has gone up to 10 Mn in 2022. Also, the share of electric cars in total car sales has tripled in the last three years, from 4% in 2020 to nearly 14% in 2022.

Coil Coatings Market Report Highlights

The polyester segment accounted for a notable market share, its surging use in pre-engineered buildings mainly drives that because of its advantageous characteristics
The topcoats segment held the majority revenue share on account of the rapid increase in construction activities that uses topcoats to protect surfaces from various factors
The steel segment led the industry market with a considerable share, mainly due to the widespread utilization of coil-coated steel in end-use industries
The construction segment will grow at a decent growth rate, which is largely attributed to the expansion of infrastructure development and new construction activities
Asia Pacific dominated the market with a noteworthy share, owing to the region's higher spending on construction activities due to rapid urbanization and industrialization
The key market players include Axalta Coatings, Chemours Company, Titan Coatings, Kansal Paint, Akzo Nobel, Becker Group, and Henkel

Polaris Market Research has segmented the coil coatings market report based on material type, product type, application, end use, and region:

Coil Coatings, Material Type Outlook (Revenue - USD Billion, 2019 - 2032)
Polyester
Epoxy
PVC
Plastisols
Polyurethane
Acrylic
PVDF
Silicone

Coil Coatings, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)
Topcoats
Primers
Backing Coats
Others

Coil Coatings, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Steel
Aluminum

Coil Coatings, End Use Outlook (Revenue - USD Billion, 2019 - 2032)
Construction
Transportation
HVAC
Metal Furniture
Others

Coil Coatings, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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This release was published on openPR.