Nanotechnology in Coil Coating Pre-treatment to Change the Phase of Coating Industry. Professional Survey & Future Coil Coating Industry Forecasts 2023.
However, the recent acquisition of Valspar Corp. by Sherwin Williams is likely to change the dynamics of the competitive landscape of this market. Valspar Corp. boasts of a robust global presence, which is expected to open lucrative sales channels for Sherwin Williams in the highly dynamic emerging countries of Asia Pacific and the Middle East and Africa. Other leading players are also projected to develop their distribution channels in order to establish a strong reach across the world.
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Increasing Construction Projects Boost Demand for Coil Coatings
The demand for coil coatings is directly proportional to the growth in the construction industry. Nowadays, the number of construction projects is reporting a significant increase in economies such as the U.S., Canada, Mexico, Australia, India, China, Indonesia, Brazil, and Turkey on account of the industrial development and rapid urbanization.
Over the coming years, non-residential construction activities, such as the construction of large commercial buildings, factories, and industrial sites, are likely to increase remarkably in Asia Pacific, specifically in India, Australia, and China. As coil coatings provide weather and corrosion resistance, as well as the aesthetic finish to metals used on walls, roofs, and shades, a huge demand for these coatings is likely to arise in the near future due to the rise is construction activities in this region.
Slowdown in European Economy to Limit Application of Coil Coatings
On the other hand, the slowdown in the European industries, particularly in automotive, construction, and consumer appliances, severely affected by the economic crisis in the region, may limit the application of these coatings considerably, resulting in a significant decline in their demand across the world. The high cost involved will also affect the application of these coating in the near future, reports TMR.
Asia Pacific to Remain Leading Consumer of Coil Coatings
The global market for coil coatings has been witnessing a strong rise since the past few years, states an analyst at TMR. In 2014, the opportunity in coil coatings was worth US$4.05 bn. TMR estimates show that this opportunity will increase at a CAGR of 5.20% during the period 2015 to 2023 and reach a value of US$6.2 bn by the end of the forecast period.
At present, Asia Pacific is the key contributor to the overall consumption of coil coatings across the world. The region accounted for a share of 42.4% in the overall demand for coil coatings in 2014, which is likely to increase to 44.2% by 2023.
The construction industry has emerged as the leading end user of coil coatings and is expected to maintain its position during the forecast period. Polyester coil coatings will remain the key product in the global market over the forthcoming years.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Coil Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Recent acquisition of Valspar Corp. by Sherwin Williams is likely to change the dynamics of the competitive landscape of the coil coatings market
Demand for coil coatings may decline in near future due to economic slowdown in Europe
Market share of Asia Pacific to increase to 44.2% by 2023
The report segments the global coil coatings market as follows:
Silicone Modified Polyester
Polyvinylidene Fluoride (PVDF)
Others (including epoxides and acrylics)
Others (including packaging, furniture, and HVAC)
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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