PUBLISHER: The Business Research Company | PRODUCT CODE: 1435750
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435750
Coil coating is an automated process that coats metal coils with polyester resin, involving cleaning, pre-treatment, and coating steel or aluminum sheets.
The primary segments within coiled coating markets encompass polyester, fluoropolymer, siliconized polyester, polyvinylidene difluoride, polyurethane (PU), plastisols, and additional variants. Polyester, derived from petroleum, characterizes synthetic fabrics known for their ease of handling and machine washability, requiring minimal special care. These coatings find diverse applications primarily within the steel and aluminum sectors, extensively utilized across construction, automotive, industrial manufacturing, domestic appliances, and other related industries.
The coiled coating market research report is one of a series of new reports from The Business Research Company that provides coiled coating market statistics, including global market size, regional shares, competitors with a coiled coating market share, detailed coiled coating market segments, market trends and opportunities, and any further data you may need to thrive in the coiled coating industry. This coiled coating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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%. Historical growth can be attributed to various factors including the development of specialized coatings, trends in customization and color preferences, heightened emphasis on durability and performance, advancements in application processes, and the expanding market within the 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%. Anticipated growth in the upcoming period is tied to the growing demand for energy-efficient coatings, the emphasis on durable and long-lasting coatings, increased adoption within the automotive sector, expansions in construction and architecture industries, and the variety of customization and color options available. Major trends expected in this forecast period encompass market expansions in emerging economies, compliance with environmental regulations and sustainability initiatives, technological advancements in coating formulations, innovative architectural designs, and the transition towards high-performance coatings.
Anticipated growth in the coil coatings market is closely linked to the surging demand from the building and construction sector. This industry encompasses the creation of residential homes, public structures, and industrial facilities. Coil coatings play a vital role by providing protective coatings and sealants that enhance aesthetics, corrosion resistance, adhesion, and scratch resilience on various surfaces. For instance, in December 2021, Ternium USA Inc., a prominent US-based steel manufacturer, invested $98 million in expanding its Shreveport facility. This move aimed to bolster steel and coating production capacities in response to the escalating demand witnessed within the construction industry. Consequently, the escalating demand for coil coatings within the construction sector stands as a key driver propelling the growth trajectory of the coil coatings market.
Anticipated growth in the coil coatings market is significantly driven by the burgeoning automotive production sector. Automotive production encompasses the manufacturing process of various motor vehicles, including cars, trucks, buses, and motorcycles. Coil coatings play a pivotal role in this industry by providing protective and cost-effective solutions that enhance durability, performance, and overall quality. For example, a report published by the International Trade Administration, a US-based Government agency, highlighted China's status as the world's largest car market in terms of yearly sales and manufacturing output. Predictions indicate that by 2025, domestic production in China is expected to reach 35 million vehicles. In 2021, over 26 million vehicles were sold, with 21.48 million being passenger cars, marking a 7.1% increase from 2020. Therefore, the upward trajectory of automotive production serves as a significant catalyst propelling the growth of the coil coatings market.
In the coil coatings market, a prominent trend is the increasing focus on product innovation. Key companies within this sector are dedicated to pioneering new technologies aimed at providing protective coatings and sealants for diverse surfaces, elevating their properties such as appearance, corrosion resistance, adhesion, and scratch resilience. For instance, in March 2021, Akzo Nobel A.V., a notable US-based company operating within coil coatings, introduced TRINAR TC (Tough Coat), a novel PFOA-free PVDF coil coating system. This innovation combines the remarkable performance of 70% PVDF with enhanced durability and user-friendly application. The TRINAR coating technology significantly enhances surfaces within the building and construction industry by delivering superior stain, abrasion, and scratch resistance.
Major players in the coil coating market are actively pursuing the development of innovative technologies, such as zero-carbon coil coating, to fortify their market standing. Zero-carbon coil coating technology encompasses a spectrum of inventive approaches aimed at significantly minimizing or eradicating the carbon footprint associated with the industrial process of applying protective and decorative coatings to metal coils. For instance, in March 2021, Adphos Group, a prominent US-based manufacturer specializing in printed electronics and coil coating, introduced aNIR, a zero-carbon coil coating technology. This groundbreaking technology enables rapid drying and curing, achieving remarkable results in just two to four seconds. Moreover, aNIR offers customizable power adjustments tailored to specific coating types and layers, along with the flexibility to accommodate varying solvent content through customizable air ventilation flow rates.
In April 2022, Akzo Nobel N.V., a renowned Netherlands-based manufacturer specializing in coating and flooring materials, completed the acquisition of Grupo Orbis for an undisclosed sum. This strategic move is anticipated to bolster Akzo Nobel's presence in Latin America by expanding its workforce and broadening its array of paints and coatings products. Grupo Orbis, a Colombia-based chemical company, is recognized for its expertise in manufacturing paint and coating products, making this acquisition a pivotal step in enhancing Akzo Nobel's footprint and market reach within the region.
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
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.
The countries covered in the coil coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The coil coating market includes revenues earned by entities by coating coils using metals. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Coil Coatings Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on coil coatings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for coil coatings ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The coil coatings market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.