Press release
Coil Coatings Market Size, Share And Forecast To 2024-2033
Coil Coatings Market
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.
Market Overview -
Coil coating refers to a continuous or automated process of coating coils of metals with a polyester resin that includes cleaning, pre-treating, and coating flat coils of steel or aluminum sheets. The process includes cleaning, exchange treatment, drying, primer coating, top coating, and foil lamination. However, the most common formulations are polyester, polyflouro carbons, alkyds, acrylics, and plastisol.
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Building And Construction Boom Fuels Growth In Coil Coatings Market
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.
Competitive Landscape -
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
Innovative Products Transforming The Coil Coatings Landscape
Product innovation is a key trend gaining popularity in the coil coatings market. Major companies operating in the coil coating market are focused on developing new technologies to provide protective coatings and sealants applied to various surfaces to enhance surface properties, as well as appearance, corrosion, adhesion, and scratch resistance. For instance, in March 2021, Akzo Nobel A.V., a US-based company operating in coil coatings launched TRINAR TC (Tough Coat), a new PFOA-free PVDF coil coating system that combines exceptional 70% PVDF performance with increased durability and simplicity of use. This TRINAR coating technology provides stain, abrasion, and scratch resistance to surfaces in the building & construction industry.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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