Coil coatings are multilayered complex coatings of resins, pigments, and primers over metal rolls. Metal substrates (usually steel and aluminum) are roll coated in order to provide weather resistance and corrosion resistance. Coated metal rolls, sheets, and strips are then molded into necessary shapes. These coil coated metal objects are used in construction projects, automotive fabrication, appliances, HVAC systems, and furniture.
This report provides detailed description of the global coil coatings market based on volume share (kilo tons) and revenue (US$ Mn) from 2014 to 2023. It highlights factors contributing to the growth of the market. It also enumerates the restraints of the market. Detailed forecast for coil coatings from 2015 to 2023 has been provided separately for better understanding of the market scenario. The coil coatings market is described with respect to various segments along with potential opportunities during the next six years.
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In terms of geography, the global coil coatings market has been segmented into the following regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Each region has been further divided into countries that are key markets for coil coatings. The study also analyzes market attractiveness for key countries with the help of the market attractiveness tool.
The study segments the global coil coatings market on the basis of products (active ingredients) such as polyester, silicone modified polyester, Polyvinylidene fluoride, polyurethane, plastisols, and others (including epoxides and acrylics). It provides forecasts and estimates for each product segment in terms of revenue and volume during the forecast period for each region, including countries as well.
The study also segments the global coil coatings market on the basis of end-user industries such as construction, automotive, appliances, and others (including packaging, furniture and HVAC). It provides forecasts and estimates for each application segment in terms of revenue and volume during the forecast period for each region, including countries as well.
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Increasing demand for coil coatings in key end-user industries such as construction, especially non-residential construction, is projected to fuel the global coil coatings market. Swift growth in global population, especially in developing countries, is anticipated to boost the construction, automotive, and appliances markets in these countries. This, in turn, is projected to propel the demand for coil coatings. Rapid pace of industrial development and rising prosperity of the population in developing countries is a stimulant for growth of sales of products such as furniture, appliances, automotive, and houses. Coil coatings used in the manufacture of these products in order to impart longevity through weather resistance, corrosion resistance, and aesthetic appeal. However, demand for coil coatings in Europe is likely to decline from previous levels owing to severe debt crisis in the region. Market players are shifting their focus from the once dominant Europe market to Asia and other fast growing regions. Middle East & Africa is projected to offer opportunities for market growth primarily owing to growth in construction and appliances industries in the region.