Overview and Scope
Coil coating refers to a continuous or automated process of coating coils of metals with a polyester resin that includes cleaning, pre-treating, and coating flat coils of steel or aluminum sheets. The process includes cleaning, exchange treatment, drying, primer coating, top coating, and foil lamination. However, the most common formulations are polyester, polyflourocarbons, alkyds, acrylics, and plastisol.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the coil coating market in 2023. The regions covered in the coil coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the coil coatings market report are BASF SE, ArcelorMittal SA, Bayer AG, The Sherwin-Williams Company, Covestro AG, PPG Industries Inc., DuPont de Nemours Inc., Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., Fujian New Shiying Paint Co. Ltd., Wacker Chemie AG, The Chemours Company, RPM International, Cornerstone Building Brands, Metal Coaters System, NipseA Group, Axalta Coatings System LLC, Valspar Corporation, Jotun Group, Evonik Industries AG, Hempel A/S, NOROO Coil Coatings Co. Ltd., Brillux GmbH & Co. KG, Beckers Group, Yung Chi Paint & Varnish Mfg Co. Ltd., CENTRIA Inc., Recubrimientos Plasticos S.A., Titan Coatings Inc., BDM Coil Coaters, Teknos Group Oy, Henkel AG & Company, Kansai Nerolac Paints Limited
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
36.Appendix
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