Technical Coil Coatings Market

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.

Market Dynamic

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:

• Polyester
• Epoxy
• PVC/Vinyl
• Plastisols
• Acrylic
• Polyurethane
• PVDF
• Silicone

By Technology:

• Topcoats
• Primers
• Backing Coats
• Others

By End-Use:

• Transportation
• Consumer Durable Goods
• HVAC
• Metal Furniture
• Others

By Application:

• Steel Coating
• Aluminum Coating

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a 42.6% market share, Asia Pacific dominates the world’s technical coil coatings market. The booming construction and automotive industries are to blame for the expansion in this area.
• The development of novel, highly resilient materials with gloss and color retention capabilities for various sectors is predicted to be the key factor driving the market in the Netherlands.

Competition Analysis

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:

• In January 2022, from January 31 to February 2 at the AHR Expo, Modine Coatings, the industry-leading commercial and industrial HVAC coatings subsidiary of Modine Manufacturing Company, will present its most recent GulfCoat technology. At the occasion, the company will unveil GulfCoat Circuit Shield and GulfCoat AM antimicrobial solutions. A spray-on antimicrobial coil coating called GulfCoat AM employs silver ions to stop the growth of germs, mold, and fungi.
• In October 2021, at Metalcon 2021, PPG Industries, Inc., a well-known U.S.-based provider of paints, coatings, and specialty materials introduced various coil coatings for commercial, residential, and industrial metal building goods. The business presented PPG Coraflon ADS, PPG Duranar, PPG Duraform, and PPG Durastar coatings. The company seeks to offer top-notch products for luxury architectural applications.

A list of some of the key suppliers present in the market 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

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.