The market is expected to generate an incremental $ opportunity of US$ 4,405.6 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00207 Format: PDF Pages: 300
Global Coil Coatings Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Coil Coatings Market was worth US$ 5,947.0 Mn and is expected to grow at a CAGR of 5.7% over the forecast period. While the historical CAGR is 4.5%, the market is expected to hit US$ 10,352.6 Mn by 2032 end.
An organic coating substance called coil coating is used to cover a rolled metal strip. In other words, coil coatings continuously and automatically protect the metals. There are many applications for coil coatings and different formulations on the market. Along with better endurance, coil coatings also offer a smooth surface and improved aesthetics.
THE COIL COATINGS MARKET IS BEING DRIVEN BY THE OIL AND GAS INDUSTRY
One major element anticipated to drive the market in the ensuing years is the rising need for oil and gas resources on a global scale. The market is expected to grow as alloys and metals, particularly steel, are increasingly used in structures like pipes, reactors, and pipelines for the oil and gas industry.
Before being used for diverse purposes, most of the steel goods needed by oil and gas plants worldwide first require coil coating paint. Another element likely to support growth is the increasing oil and gas production in new locations.
One of the main things limiting the growth of the sector is the transportation and storage of coatings. Inadequate and unsafe transportation facilities could hamper the adoption of the product in emerging economies. The layers must also be kept using the right preservation oil to retain the finishing. To preserve their quality, coil coatings must be cautiously handled and adhere to specific guidelines.
Market Segments Covered in Report
By Material Type:
By Region and Country:
Which is the most preferred Material Type in the Coil Coatings market?
In terms of material type, the polyester sector is projected to rule the global coil coat market in future years. Due to its many advantageous qualities, polyester coil paint is increasingly employed in buildings’ interiors and exteriors.
Polyester is excellent at resisting chemicals, has outstanding formability, and can survive extreme weather conditions. It can also have exceptional flow characteristics across various temperatures, making it useful in pre-engineered structures.
Which End Use of Coil Coatings is anticipated to dominate the market during the projected period?
Building & Construction will probably dominate the worldwide coil coatings market in terms of end-use during the evaluation period. The industry is expected to grow as more residential and commercial construction projects are undertaken in developed and emerging nations.
It is anticipated that adopting cleaner technologies for public infrastructure will increase demand for color-coated coils. Younger people are expected to have a strong need for single-family houses as the trend of westernization spreads throughout emerging economies, which is expected to accelerate market growth.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Leading companies in the worldwide coil coatings market are concentrating on taking advantage of the construction industry’s explosive growth, particularly in emerging markets. In the meantime, some of the other major coil coating paint producers are increasing their production capabilities and introducing new products to attract a wide customer base and solidify their market positions.
The key developments in the Global Coil Coatings Market are:
A list of some of the key suppliers present in the market are:
Global Coil Coatings Market 2022-2032: 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 2030|
|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 Type, Application, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|