Coil Coatings Market

Coil Coatings Market Size (2023-2028)

The coil coatings market was worth US$ 4 billion in 2022, and it is estimated to reach a valuation of US$ XX billion by the end of 2028, expanding at a CAGR of 5% between 2023-2028

Coil coatings are pre-painted metal applied on metallic substrates, including steel, aluminum, and others in the form of liquid, powder, and paste, which possess specific properties, including protective and decorative properties. The metallic substrates that are coated include galvanized mild steel, hot-dip galvanized steel, electro-galvanized coated steel, wrought aluminum alloys, cold-reduced steel, and many other substrates. The available coatings include polyesters, plastisol, polyurethanes, polyvinylidene fluorides (PVDF), primers, backing costs, epoxies, and laminate films. Coil coatings are used in various products and can be formed for several applications, including T bends mislaying the quality of the coil. In addition, these are flexible, low-cost, and environmentally friendly. Coil coating is considered the industrial process for coating coils of metal. It is a continuous process that consists of cleaning, chemical pre-treatment of metal surfaces on neither one side nor two sides, applications of single & multiple paints, and coating powders that are cured and laminated with the use of permanent plastic films. The steel & aluminum are manufactured in the form of a coil from the rolling mills, and their weights vary from 5-6 tons in aluminum and around 25 tons in steel.

Coil Coatings Market Trends:

Coil coatings are ruling the market in terms of growth due to the increase in their usage by various industries for n number of applications including the construction industry for outdoor and indoor applications, cabinets for electronic goods, automotive and transport firms, furniture for office, production of white goods, bakeware and lighting envelopes.

Recent Developments in the Coil Coatings- Market:

In Japan, BASF announced that it tends to focus on alternative technology for coating coils and phase out the chromate coil coating systems. The technology is based on corrosion inhibition performance, and it is confident in providing technology to the construction industry.

Coil Coatings Market Drivers:

Increasing demand for downstream industries, growing competitiveness of leading coil coating manufacturers, high differentiation and product quality growth, construction & automotive firms, strict government rules & regulations, cost & line versatility, rising environmental compliance, and fluoropolymer continues its growth in the construction industry. These are the significant factors that boost the coil coatings market growth. Furthermore, the increasing usage of coil coatings in designing furniture and construction products augments drive the market growth during the forecast period. Furthermore, automotive OEMs tend to provide enhanced after-sales that positively influence the coil coating market to attract customers.

Coil Coatings Market Restraints:                                                   

Storage & Transportation acts as significant factor in restraining the growth of the coil coatings market. Along with these, due to lack of safe and proper transportation facilities for coil coatings globally may hamper the coil coatings market growth during the forecast period.

Opportunities in the Coil Coatings Market:

The rapid increase in the penetration in pharmaceutical packaging and aerospace applications, massive demand for industrial sectors due to its environmentally- friendly nature, high tensile strength, and good product quality, along with suitable adhesion properties, acts as a significant opportunity for the coil coatings market. 

Challenges in the Coil Coatings Market:

Increasing consumption of energy & electricity required for the industrial process of coil coating and expensive technologies of coil coatings may lead to the challenge for the coil coatings market growth during the forecast period.

COIL COATINGS MARKET REPORT COVERAGE:

Coil Coatings Market Segmentation:

By Resin Type:

• Fluoropolymer coil coatings 
• Plastisol coil coatings
• Polyester coil coatings
• Siliconized polyester coil coatings
• Others

Polyester coil coatings tend to have the highest market share of about 60% of all the mentioned resin types due to their magnificent flow characteristics. Additionally, these are useful for outdoor applications including truck trailers, doors, rims, residential roofing systems, etc. On the other hand, siliconized polyester coil coatings tend to hold the highest market volume during the foreseen period due to their high resistance. 

 By Application:

• Aluminum

• Steel 

Steel application dominates the coil coatings market due to its low cost and high tensile strength. It is treated as the world’s most popular alloy, widely used in construction, home, and many other applications.

By End-User:

• Automotive

• Electricals & Electronics

• Building & Construction 

• Others

Among these segments, the electrical and electronics end-user attributes the highest market share since these end-users require heavy metals for coils, transformers, inductors, and home appliances. Moreover, the process of coil coating includes metals. Thus, driving the electricals & electronics end-users hold the maximum market share.

Coil Coatings Regional Analysis:

 The Coil Coatings Report includes the segmentation of Regions:

•  North America 

•  Europe 

•  Asia Pacific 

•  Latin America 

•  Middle East & Africa 

The Asia Pacific has become the largest region in the industrial sector across the globe, in which Asia Pacific tends to dominate the market during the forecast period. These firms, including construction, automotive, and others, augment to use of heavy metals that use the process of coil coating. China dominates the market in APAC due to the continuous rise in the automotive sector, followed by India. At the same time, North America aid to witness stable growth rates during the forecast period, and Europe is estimated to have a significant CAGR, respectively. 

Impact of COVID-19 on the Coil Coatings Market:

Covid-19 (novel Corona Virus Disease), which outbreak in early 2020, has turned into a global pandemic crisis with 15 million population getting infected and has already created the loss of over 600 thousand deaths worldwide.

It is owing to the increased emphasis on preventing the spread of covid-19 and considering the transmission measures to prevent the movement and interactions between humans and prevent the spread of the disease. Unfortunately, this is adversely impacted a wide range of industries and created shutdown of businesses due to less or zero returns or investments. These industries are likely to take a longer time than expected to cover. 

Coil Coatings Market Key Players:

The companies covered in the report include:

• AkzoNobel N.V. 

• BASF SE 

• E. I. Du Pont De Nemours and Company

• Henkel AG & Company 

• Kansai Paint Company Limited 

• PPG Industries Inc. 

• The Beckers Group 

• The Sherwin-Williams Company 

• The Valspar Corporation 

• Wacker Chemie AG