Coil Coating Market Overview Till 2022 Industry Insights Across Top Carriers Reports Key Players Overview Review Trends Analysis and Forecast

Coil coating Market / Overview:

The global coil coatings market was 4.3 billion in 2017 and is expected to grow at 7.6 billion in 2022 with estimated CAGR of 6.1% between 2018-2022.

Coil coatings is method used to coat and paint sheets of metal such as steels, aluminum etc. Coil coating makes material more durable and corrosion resistant. The coil coating provides a smooth finish, green benefits coupled with aesthetic looks to metals used on non-residential construction such as roofs, walls and shades. The growing demand for coil coating is mainly driven by increasing applications in construction, automotive, consumer appliances and others. Owing to its eco-friendly nature, high tensile strength and good adhesion property makes it integral part of industrial sectors. Increasing number of commercial and residential projects in emerging economies has stimulated the demand of coil coatings in those regions.

On basis of resin types, coil coatings are segmented into polyester, polyvinylidene fluorides (PVDF), polyurethane, silicone modified polyester and plastisol. Polyester coating is leading segment and is projected to grow at 5% CAGR over the forecasted period. Owing to superior properties, polyester coil coating provides excellent resistant to corrosion and weather conditions. Thus, low cost of polyester is also expected to drive the demand for polyester coil coating across the application industries. Polyvinylidene fluorides (PVDF) coatings is also expected to increase significantly due to their properties such as longevity coupled with providing aesthetic appeal is suitable to sustain in harsh conditions.

Construction coil coating market is dominating market with more than double digit growth over the forecasted period. The global construction expenditure was close around USD 3 trillion in 2017 and is forecasted to reach USD 5 trillion over the forecasted period. Growing infrastructure activities, rapid industrialization and increase in government spending has been factors to drive the coil coating market in construction activities. The product is widely used in wall panels, roofs and offers visual appeal in commercial and residential buildings. Moreover, increasing government spending to improve public infrastructure is propelling the demand of coil coating across the end user industry.

Market Highlights:

Coil Coating is multi-layer coating of pigments, resins and primers used to coat metal sheets such as aluminum and steel. These are used to protect the material from harsh diverse environmental conditions and provide corrosion resistance. Coated rolls, strips and sheets are used in many commercial and industrial applications. The growing demand of coil coatings is due to extensive use of coated material in end user industries such as construction, automobile, electrical and electronic and other consumer appliances. Growing non-residential construction activities including commercial building, manufacturing industries and factories has triggered the demand for coil coatings to sustain harsh weather conditions.

Rapid industry development, urbanization, increase in per captia income along with rise in consumer spending has been prime factors for rise in demand for coil coating across the globe. Additionally, rapid development of commercial and industrial sector in emerging countries like China, India and Japan are projected to drive the coil coating market growth prospect. However, high cost of raw materials of coil coatings over conventional coatings and availability of substitute can hinder the market growth over the forecasted period.

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Regional Analysis:

The APAC region coil coating market is expected to grow due to rapid industrializations, favorable government regulations and increase in consumer spending. China being largest producer and consumer of coil coating dominates the region in coil coating market. China, India, Brazil and Indonesia are expected to drive the market demand owing robust industry growth. Major players are also targeting developing regions in order to maximize the profit and meet the growing demand in those regions.

North America witnessed a significant growth owing to being prominent player of automobile sector and consumer appliances. After economic downturn, the government is focusing more on non-residential projects which significantly increase the product demand in this region.
European debt crisis has affected many industries like construction, automobile and appliances. Due to this key player has reluctant to invest in these regions. This has led slow growth of product in European market.

Competitive Analysis:

BASF SE, Akzo Nobel N.V, The Valspar Corporation and The Dow Chemical Company has dominated the global coil coating market share in 2018. These are vertical integrated company dominating price value in competitive market. major market players are offering strong distribution and sales channel to trapped the untapped market. With strong channel companies are able to play with prices of raw material and provide quality services on high demand supply.

Key Players:

BASF SE (Germany),
Akzo Nobel N.V (Netherlands),
The Valspar Corporation (U.S),
PPG Industries, Inc. (U.S),
E. I. du Pont (U.S),
The Dow Chemical Company (U.S),
Wacker Chemie AG (Germany),
Nippon Paint Holdings Co., Ltd (Japan),
Axalta Coating Systems LLC. (U.S),
Henkel AG & Co. KGaA (Germany).

Segmentation:

The global Coil Coating market is majorly segmented on the basis of resin type and end user industry. Based on resin type, Coil Coating market is segmented into polyester, polyvinylidene fluorides (pvdf), polyurethane, silicone modified polyester and plastisol. Based on end user industry of Coil Coating, the market is segmented into Construction, Automotive, Electrical & Electronics, Consumer appliances, Others.

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