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Coil Coatings Market Research Report 2024-2033: Lucrative Opportunities, Strategic Strategies, and Growing Demand
Coil Coatings Market
The Business Research Company presents an extensive market research report on the Coil Coatings Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The coil coatings market size has grown strongly in recent years. It will grow from $5.4 billion in 2023 to $5.71 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to development of specialized coatings, customization and color trends, increased focus on durability and performance, advancements in application processes, market expansion in construction sector.
The coil coatings market size is expected to see strong growth in the next few years. It will grow to $7.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising demand for energy-efficient coatings, focus on durable and long-lasting coatings, increasing adoption in the automotive sector, expansion in construction and architecture, customization and color variations. Major trends in the forecast period include market expansion in emerging economies, environmental regulations and sustainability initiatives, technological advancements in coating formulations, architectural design innovation, shift towards high-performance coatings.
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Key Market Players:
Major companies operating in the coil coatings market report are BASF SE, ArcelorMittal SA, Bayer AG, The Sherwin-Williams Company, Covestro AG, PPG Industries Inc., DuPont de Nemours Inc., Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., Fujian New Shiying Paint Co. Ltd., Wacker Chemie AG, The Chemours Company, RPM International, Cornerstone Building Brands, Metal Coaters System, NipseA Group, Axalta Coatings System LLC, Valspar Corporation, Jotun Group, Evonik Industries AG, Hempel A/S, NOROO Coil Coatings Co. Ltd., Brillux GmbH & Co. KG, Beckers Group, Yung Chi Paint & Varnish Mfg Co. Ltd., CENTRIA Inc., Recubrimientos Plasticos S.A., Titan Coatings Inc., BDM Coil Coaters, Teknos Group Oy, Henkel AG & Company, Kansai Nerolac Paints Limited
Market Drivers:
The rising demand for coil coatings from the building and construction industry is expected to propel the growth of the coil coatings market in the coming years. Building and construction is the process of constructing homes, public buildings, and industrial facilities. Coil coatings are used to offer protective coatings and sealants that are applied to various surfaces to improve their looks, corrosion resistance, adhesion, and scratch resistance. For instance, in December 2021, Ternium USA Inc., a US-based steel manufacturing company invested $98 million in the expansion of the Shreveport facility to enhance steel and coating production in response to increased demand from the construction industry. Therefore, the increasing demand for coil coating from the construction industry drives the growth of the coil coatings market.
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https://www.thebusinessresearchcompany.com/report/coil-coatings-global-market-report
The coil coatings market covered in this report is segmented -
1) By Type: Polyester, Fluoropolymer, Siliconized Polyester, Polyvinylidene Difluoride (PVDF), Polyurethane (PU), Plastisols, Other Types
2) By Application: Steel, Aluminum
3) By Industry: Construction, Automotive, Industrial and Domestic Appliances, Other Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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