The Coil Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Coil Coatings Global Market Report 2024, The coil coatings market size has grown strongly in recent years. It will grow from $5.4 billion in 2023 to $5.71 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to development of specialized coatings, customization and color trends, increased focus on durability and performance, advancements in application processes, market expansion in construction sector.
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.
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.
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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
Major companies operating in the coil coating market are focused on developing new innovative technologies such as zero-carbon coil coating technology to sustain their position in the market. Zero-carbon coil coating technology refers to a range of innovative approaches aimed at significantly reducing or eliminating the carbon footprint associated with the industrial process of applying protective and decorative coatings to metal coils. For instance, in March 2021, Adphos Group, a US-based printed electronics and coil coating manufacturer, launches aNIR, a zero-carbon coil coating technology. The technology allows for rapid drying and curing in just two to four seconds. This technology offers adjustable power based on the coating type and layer, along with customizable air ventilation flow rates to accommodate varying solvent content.
The coil coatings market report table of contents includes:
1. Executive Summary
2. Coil Coatings Market Characteristics
3. Coil Coatings Market Trends And Strategies
4. Coil Coatings Market – Macro Economic Scenario
5. Global Coil Coatings Market Size and Growth
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31. Coil Coatings Market Other Major And Innovative Companies
32. Global Coil Coatings Market Competitive Benchmarking
33. Global Coil Coatings Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Coil Coatings Market
35. Coil Coatings Market Future Outlook and Potential Analysis
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