Farmington, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global Coil Coatings Market was valued at USD 5.0 Billion in 2022 and is projected to reach USD 6.8 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. Continuous and automated application of an organic coating substance to rolled metal strip constitutes coil coating. The method includes cleaning and chemically pre-treating the metal surface. Before the final product is created, one or both sides of the metal are painted or coated with powders or liquids, which are then dried or bonded with plastic films.
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Before going on to subsequent phases of industrial production, coil coating employs effective processes, such as cleaning, pre-treating, pre-priming, pre-painting, and coating flat metal coils or sheets of steel or aluminum. The steel or aluminum sheets are shipped at a rate of 700 feet per minute in coils. A flat sheet can be cleaned manually, and depending on the equipment and paint system utilized, coating weights for pretreatment and paint can be precisely regulated. In coil coating, the back coat, top coat, and primers are utilized. These can be rolled onto steel or aluminum coils and come in a broad variety of colors and finishes.
Coil Coatings Market Recent Developments:
- In May 2018, researchers at the University of Liverpool, UK, developed a biomass-derived polyester coating for coil applications.
- In April 2019, Beckers Group launched 'The Turning Point', a new portfolio of coatings for consumer products and lifestyle appliances.
- In December 2018, Beckers Group announced global price increases for coils and industrial coatings.
Coil Coatings Market Segmentation Analysis:
The coil coating market is segmented by resin type into polyester, polyvinylidene fluorides, silicon-modified polyester, polyurethane, and many more. From 2016 to 2022, the polyester market is anticipated to expand at a high CAGR of 5%. It is created from high-quality materials and is used to construct large objects. Coil coating is highly beneficial since it does not degrade rapidly when exposed to severe weather conditions or terrible weather. Polyester is one of the most cheap components of the coil casting business. When all aspects are considered, it is easy to understand why subsegments with a high CAGR during the market's forecast period are performing so well.
Coil coatings can be utilised to cover building walls and roofs, add decorative accents, and produce lighting fixtures. Transport applications include container sheets and panels, the sides and interiors of caravans and mobile homes, the bodies of vans and trailers, insulated boxes, and both road and rail coaches. They are utilised in a variety of appliances, including refrigerators, washing machines, dishwashers, microwaves, and heating, ventilation, and air conditioning (HVAC) equipment.
Regional Outlook:
In terms of market value, 44.2% of the global coil coatings market was located in Asia-Pacific in 2021. In terms of value, the market for coil coatings in the area is anticipated to expand at a CAGR of 6.9% during the next years.
The Asia-Pacific region has the largest market share in the world for coil coating. The following region is Europe, which follows the Asia-Pacific region. It has been noted that North America has the third-largest market share worldwide. China is possibly the largest producer of coil coating worldwide. Numerous individuals choose to reside in this location. India, China, and Japan are regions of Asia with stable economies. In this region, there are a variety of enterprises. Urbanization is the primary factor in market expansion. The number of new government programmes and tax breaks that stimulate large-scale manufacturing and use of coil coating is the primary factor driving market expansion.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 4.7% from 2023 to 2030 |
| Market Size in 2022 | USD 5.0 Billion |
| Revenue Forecast by 2030 | USD 6.8 Billion |
| By Type | Plastisols, Polyurethane (PU), Polyester, Polyvinylidine Fluorides (PVDF), Silicone Modified Polyester |
| By Applications | Automobile, Construction, Transportation, Consumer goods |
| By Companies | Akzonobel N.V. (Netherlands), PPG Industries Inc. (U.S.), Valspar Corporation (U.S.), BASF SE (Germany), DuPont (U.S.), Henkel AG & Company (Germany), Kansai Paint Chemical Limited (Japan), The Beckers Group (Germany), The Sherwin-Williams Company (U.S.), Wacker Chemie AG (Germany), and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
The market economy contributes to the expansion of the coil coating market. Changes in the construction industry also increased demand. Changing how you live and maintaining a high level altered the market's growth. One of the primary causes for the expansion of the coil coating industry is the proliferation of commercial options, such as text messaging and mobile phones. In certain developing nations, the need for housing is expanding exponentially, which is positive. The government invests a portion of the funds it receives in new and expanding enterprises and infrastructure improvement initiatives.
Market Restraints:
When raw materials are expensive, market growth and development will be slowed down. It became evident that the prices of raw materials will fluctuate on their own, so retarding the expansion of the coil coating business. There are now significantly more modern metals that are inexpensive and perform well enough for the coating market's needs.
Market Opportunity:
Even businesses are investing significantly more in research and development, which has been observed. Its primary objective is to create a new generation of eco-friendly and non-polluting coil coatings. The new generation of products manufactured in this manner can be utilised in a variety of ways, which is beneficial to the coil coating sector.
Coil Coatings Market Key Segments Covered:
Top Market Players:
Akzonobel N.V. (Netherlands), PPG Industries Inc. (U.S.), Valspar Corporation (U.S.), BASF SE (Germany), DuPont (U.S.), Henkel AG & Company (Germany), Kansai Paint Chemical Limited (Japan), The Beckers Group (Germany), The Sherwin-Williams Company (U.S.), Wacker Chemie AG (Germany), and Others.
By Type
- Plastisols
- Polyurethane (PU)
- Polyester
- Polyvinylidine Fluorides (PVDF)
- Silicone Modified Polyester
By Application
- Automobile
- Construction
- Transportation
- Consumer goods
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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