Coil Coating Market Overview -
Globally, it has been marked that the coil coating industry occupies a CAGR of 6.1% during the market forecast period between 2016 and 2030. The coil coating has earned a coil coating market value of USD 4.3 billion. Moreover, it is expected to cover USD 7.6 billion by the end of 2030. This coil coating is used for giving a top coating of either powder or for painting steel, aluminum, and other base metals.
Coil coatings market are liquid paint systems available in a range of colors and finishes. They are applied to steel or aluminum rolls. Properties of durability and corrosion resistance coupled with its applications on roofs, walls, and shades can induce its need in residential and commercial settings. The global coil coatings market report by Market Research Future (MRFR) contains a comprehensive analysis on coating process and its applications for the period of 2016 to 2030 (forecast period).
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Coil Coating Market - Eminent Firms:
BASF SE of Germany, Henkel AG, and Co. KGaA of Germany, I. DuPont of the United States, Wacker Chemie AG of Germany, Nippon Paint Holdings Co.ltd of Japan, Axalta Coating Systems L.L.C of the United States, Akzo Novel NV if Netherlands, PPG Industries Inc. of the United States, The Dow Chemical Company of the United States, The Valspar Corporation of the United States, and many others.
The augmented investment in the construction sectors is rising due to urbanization plans and policies instituted by government bodies, and this is estimated to promote the Coil Coating Market companies in the coming period. The reduced weight requirement in structural applications is estimated further to spur the Coil Coating Market in the impending period.
Globally, the market for Coil Coating Market is driven by the region North America, owing to implementation of stringent rules and regulations in alcoholic beverages, cosmetics and pharmaceutical industries, among others. Coil Coating Market is extensively used as an alternative fuel in transportation sector due to its enhanced efficiency and optimal performance offered by the product. Moreover, the emission of greenhouse gases are reduced immensely due to adoption of biofuel in vehicles and engines. A surge in demand are prompting the manufacturers and investors to shift their focus from fossil fuels to bio products in the major industries.
Growing consumption of Coil Coating Market share in various applications is the important reason behind their growth in the market. Moreover, end-use industries such as pharmaceutical, and cosmetics provide impetus to the Coil Coating Market market growth.
On the flipside, fluctuating raw material prices are considered to restrict the market growth in the coming years. Strict government mandates restricting the use of sulfuric acid is likely to hinder the market growth. Moreover, ill effects of sulfuric acid on human health like irritation in the eyes and skin and skin sensitiveness are expected to vitiate the market growth in the coming years.
The availability of various substitutes such as iron ore, hematite, and celestite are expected to hinder market growth due to their reduced prices and the fact that some of these can be synthetically produced. However, barite is still the most preferred material in oil gas applications which is expected to encourage market growth. Moreover, its applications in the absorption of x-rays and gamma rays make it useful in the medical sector as well as to make special containers to store radioactive materials which are likely to encourage market expansion.
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Segment Study of Coil Coating Market-
Based on resin type, the coil coating market is classified into polyester, polyvinylidene fluorides, silicon modified polyester, polyurethane, and many more. The polyester projects at a high CAGR of 5% during the market forecast period of 2016-2022. It is of high quality and is used for heavy construction purposes. Coil coating is majorly desirable to be used because it doesn’t get damaged quickly on being exposed to bad weather for some of the extreme climatic conditions. Polyester is one of the most affordable sectors of the coil casting industry. When all the factors are taken into account, a good explanation about the sub-segments at high CAGR over the market forecast period is being known. As per the growing coil coating market trends, you can mark the rising coil coating market value that it occupies. This is because on giving a coating over the materials, the materials look pretty and increase the longevity with time. The coil coating makes it perfect for using it in buildings and for producing other products which are used in some areas of extreme climatic conditions.
Technology-led to the manufacturing of new generation products which had a variety of applications and which thus increased the opportunity of the coil coating industry.
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Industry/ Innovation/ Related News:
October 2017 – Akzonobel N.V. (the Netherlands), one of the key manufacturers of coil coating also having presence in U.K and South Africa, has announced extension of coil coatings market in U.K and South Africa by acquiring the BASF’s industrial coatings business for € 475 million. This acquisition is expected to complete by second half of 2016. This proposed acquisition is completed in December 2016 and to produce better innovative products and delivering these products to extended reach by the company.
April 2017 – Kansai Paint Co., Ltd. (Japan) is one of the leading manufacturer of coil coatings, has acquired all shares of European coating manufacturer Helios Group, with the closing of transaction on 31 March. Under the strategic owner Kansai, Helios will represent a strong European center of innovation, know-how and business development, and will further grow its importance in European coating industry. With the acquisition of Helios Group, Kansai Paint accelerates its growth strategy to become one of top three paint producers in the world and extended its market from Asia Pacific to Europe. Over the forecast period, by merging both the RD and manufacturing technologies helps to manufacture and innovate better products in the Europe region.
Coil Coating Market Market - Regional Analysis
On a geographical note, Asia-Pacific region leads the Soda Coil Coating Market in terms of both, volume and value, which is expected to proliferate significantly at a higher CAGR by 2022. In the Asia Pacific, China has been a significant revenue generating country owing to growing end-user industry and an increase in the consumption rate of chemicals by manufacturers. Also, substantial expansion scope in the automotive industry in India, South Korea Taiwan, and leather industries in Vietnam may enhance the market growth. Besides, a surge in personal care and cosmetic products demands from the middle-class population may also stimulate the global Soda Coil Coating Market substantially.
Whereas, North America for second market share in this segment. North America led by the U.S. Soda Coil Coating Market may also witness gains of market by the end of the forecast period. U.S. market, driven by wood coatings and printing ink applications segment along with increased spending on lifestyle products and growing e-commerce industry may boost regional market growth during the projected period.
Europe is now estimated to witness moderate growth on account of rising demand from the automotive sector. Furthermore, stringent regulations for the storage and usage of this product have led to increased innovation and development in this sector.
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