Technical Coil Coatings Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Technical Coil Coatings Market grew at a CAGR of 4.3% between 2017-2021 and is estimated to be US$ 4,078.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.8% and is expected to reach a valuation of US$ 7,167.5Mn by 2032 end.
Sales in this market are anticipated to be driven by rising construction activity in both developed and emerging economies. Governments in several developing nations, like China and India, are investing more money in infrastructure development to improve connectivity.
Since these are widely used in desks, storage units, filing cabinets, and shelving applications, many coil coating companies are working to develop cutting-edge products for the furniture industry. In the upcoming years, the market is anticipated to be driven by rising non-residential construction spending, particularly in developed nations.
INCREASING APPLICATIONS OF COIL COATING IN THE CONSTRUCTION AND BUILDING CONTRIBUTES TO MARKET EXPANSION
The construction and building sector’s increasing use of coil coating has greatly fueled the global market for technical coil coatings growth. The coil coatings’ infrared technology helps to lower the building’s interior temperature, which reduces energy use. Furthermore, coil-coated metals are widely used in furniture due to their low cost and aesthetic advantages. This has significantly fueled the market for technical coil coatings.
Coil-coated metals’ higher corrosion resistance enables manufacturers to provide extended corrosion warranties. As a result, the market’s consumer base has grown, accelerating the market’s expansion. Furthermore, increased output has been made possible by raising environmental concerns.
STRINGENT GOVERNMENT REGULATIONS MAY HINDER THE TECHNICAL COIL COATINGS MARKET’S GROWTH
A few obstacles could prevent the growth of the global technical coil coatings market. The development of the specialized coil coatings market may be hampered by elements like stringent government regulations concerning the emission of harmful volatile organic compounds (VOCs). The effects of the restrictions could be mitigated, though, by creating new environmentally friendly coil coatings that help with waste reduction.
THE INCREASING NUMBER OF END-USE INDUSTRIES FOR COIL COATINGS IS THE ROOT CAUSE FUELLING UP THE COIL COATINGS MARKET GROWTH RATE
The primary factor driving the coil coatings market growth rate is an increase in end-use industries. Growing building activity and infrastructure developments, particularly in developing nations, will open up more attractive growth potential for the coil coatings industry. The demand for coil coatings will continue to increase due to growing industrialization and significant investments made in coil coatings by downstream industries. The development of surface chemistry and treatment methods will receive more attention, which will accelerate the growth of the coil coatings industry.
Market Segments Covered in Report
By Material Type:
By Region and Country:
Why are Topcoats increasing in demand globally?
The topcoats segment will account for the largest market share for technical coil coatings shortly in terms of product type. The feature is expected to be driven by the growing use of vehicle topcoats to protect the body from UV resistance, environment, corrosion, scratches, and chemicals.
What is the significance of the Steel Coating application?
The technical coil coatings market is expected to dominate the steel coating application during the assessment period. Steel that has been coil-coated helping industrial and commercial structures withstand corrosion. Without it, exposed steelwork is susceptible to rapid deterioration.
Which material type is surging in the upcoming period?
The polyester segment is anticipated to continue leading the technical coil coatings market in terms of material type. Polyester is used in pre-engineered buildings because it has excellent flow properties throughout a wide temperature range.
It is appropriate for exterior uses, including doors and trim, trailers for trucks, mobile homes, and residential roofing systems. It is thought to be an economical and environmentally beneficial cooling coil coating. Thus its demand is expected to increase soon.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The presence of numerous well-known competitors has resulted in a highly concentrated market for technical coil coatings worldwide. Most major coil coating companies are concentrating on expanding their current product portfolios and bolstering their manufacturing capacities to draw in and meet the demands of a sizable global consumer base.
While this is happening, a few other players are attempting to enter into alliances, joint ventures, mergers, and acquisitions to maintain their leading position in the market.
The key developments in the Global Technical Coil Coatings Market:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Material Type, Technology, End-Use, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.8%.
Increasing applications of coil coating in the construction and building industry have significantly contributed to the expansion of the global technical coil coatings market.
Major global Technical Coil Coatings Market players are Axalta Coating Systems, Akzo Nobel N.V, PPG Industries, The Valspar Corporation, The Chemours Company, Henkel AG & Co. KGaA, Kansai Paint Co. Ltd., Eastman Chemical Company, NOROO Coil Coatings Co., Ltd, Becker Group, ALCEA, Dura Coat Products, Inc., Italcoat S.r.l., Huhoco GmbH, Unichem, Kömmerling Chemische Fabrik GmbH
Stringent government regulations may hinder the technical coil coatings market’s growth
Asia Pacific Region is expected to account for the largest market revenue share in the Global Technical Coil Coatings market.
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