Dublin, July 18, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Coil Coatings Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
Asia Pacific Coil Coatings market is estimated to grow to US$7.624 billion in 2029 from US$4.566 billion in 2022, growing at a CAGR of 7.60% over the forecast period.
Coil coating stands out as an exceptionally efficient method for consistently producing a high-quality, uniform-coated finish on metal in a continuous and automated manner. Often known as pre-painted metal, this process involves painting the metal before fabrication, distinguishing it from post-fabrication painting methods. In the coil coating procedure, the metal coil undergoes unwinding, cleaning, and pre-treatment, followed by the application of a coating on a flat continuous sheet. The coated metal is then heat-cured, cooled, and rewound for shipping.
Coil coatings, formulated specifically for this purpose, are applied to metal coils to offer protection, durability, and aesthetic appeal to an extensive array of products, including domestic appliances, vehicles, roof tiles, rolling shutters, and wall claddings. The coil coating technology has experienced rapid growth compared to traditional application methods, owing to its numerous advantages, such as cost savings, versatility, environmental friendliness, and improvements in performance and quality.
The Asia Pacific Coil Coatings market is analyzed based on various segments, including resin type, end-user industry, and geography, reflecting the industry's dynamic landscape and diverse applications.
Rise in demand for automotive:
The increasing demand for automobiles, especially the rising production of electric vehicles (EVs), has generated a need for lightweight and visually appealing components, driving the utilization of coil coatings. This paradigm shift is closely tied to the ascendancy of China as a prominent hub for both EVs and EV component manufacturing.
The rapid growth of Chinese companies in this sector has played a pivotal role in fueling and aligning with the ongoing changes in the automotive industry. China, being the largest automotive market globally, has been at the forefront of these trends for several years. As the export volumes from China continue to expand shaping the global landscape of the automotive industry.
In this context, coil coatings play a crucial role in meeting the demands of lightweight and enhancing aesthetics in the manufacturing of automotive components, reflecting the broader shifts within the automotive market.
Building & Construction:
The ongoing trends of urbanization and infrastructure development necessitate building materials that are both weather-resistant and visually appealing, making coil coatings a preferred and integral choice. China, renowned as the world's largest construction market, has experienced significant impacts stemming from shifts in government regulations and policies. Projections indicate that the total investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) is estimated to reach approximately 27 trillion yuan ($4.2 trillion).
In India, the construction industry is poised for substantial growth, with expectations to reach $1.4 trillion by 2025. As part of the National Infrastructure Pipeline (NIP), India has allocated a substantial investment budget of $1.4 trillion for infrastructure development, with specific allocations such as 24% for renewable energy, 18% for roads and highways, 17% for urban infrastructure, and 12% for railways.
The evolution of coating technologies, including advancements in high-durability and self-healing coatings, introduces new possibilities for applications in these dynamic markets, aligning with the demands of modern construction for enhanced performance and longevity.
Raw material challenges:
Despite the considerable potential within the Asia Pacific coil coatings market, there are inherent challenges that act as constraints. The market is heavily dependent on a range of raw materials, including resins, pigments, and solvents, the prices of which often undergo unpredictable fluctuations. This volatility has the potential to affect production costs and create challenges for manufacturers in maintaining favorable profit margins. Additionally, disruptions in the supply chain and geopolitical instability can exacerbate issues related to the availability and pricing of raw materials, adding further complexity to the operational landscape for industry participants.
Asia Pacific Coil Coatings Market Segmentation by End User Industry into Automotive industry, Appliance industry, and Building and Construction industry.
The segmentation of the Asia Pacific coil coatings market based on end-user industries includes, the automotive sector exhibits significant demand for coil coatings, attributed to the escalating production of passenger cars. Coil coatings are increasingly employed in various car components to enhance aesthetics, provide corrosion resistance, and contribute to lightweight.
Within the appliance industry, coil coatings find widespread application due to their protective, decorative, and functional properties. Coil coatings are extensively utilized in the building and construction sector for their advantageous features, including durability, weather resistance, and aesthetic appeal.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 114 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $4.57 Billion |
| Forecasted Market Value (USD) by 2029 | $7.62 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Asia Pacific |
Companies Featured
- Nippon Paint Co., Ltd
- BASF
- Kansai Paint Co. Ltd
- Guangzhou Will strong New Material Holding Co. Ltd
- Srisol
Market Segmentation:
Resin Type
- Polyester resins
- Plastisol resins
- Siliconized polyester resins
- Fluoropolymer resins
End User Industry
- Automotive industry
- Appliance industry
- Building and construction industry
Geography
- China
- India
- Japan
- Australia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/lykyvg
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
