Key excerpts from Future Market Insights’ new study on the global
coil coatings market reveals that by the end of 2027, around 1,368.0
KT of coil coatings will be sold globally. Between 2017 and 2027, the
global coil
coatings market is expected to register a CAGR of 4.6%, reaching
a valuation of US$ 6,312.1 Mn. Rising expenditure in the construction
industry, especially for non-residential construction is expected to
drive the sales of coil coatings over the next couple of years.
The recent boom in the construction sector has been fueling the
demand for coated steel and aluminium coils of late. In addition,
continuous demand for domestic appliances and construction materials
across the globe are also supporting the market growth.
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Development of eco-friendly coating products to check emission levels
and commencement of grid power projects are some of the key trends
governing the global coil coatings market. Amongst the key regions,
sales of coil coatings in Asia Pacific excluding Japan (APEJ) will
remain robust throughout the forecast period on account of the
increasing infrastructure investments in the region, favouring the
growth of the market.
APEJ’s coil coatings market, which is currently valued at over US$
1,472 Mn is expected to surpass US$ 2,525 Mn over 2027. During the
same period, the Middle East and Africa (MEA) will also become a
highly attractive market and is expected to witness a relatively
higher CAGR as compared to other regions. Meanwhile, North America
and Western Europe are currently identified as the second and third
largest market for coil coatings respectively.
Throughout the assessment period, sales of topcoats are anticipated
to remain relatively higher as compared to all the other major coil
coating product types. In 2016, around 369.5 KT of topcoats were sold
worldwide, which is expected to increase to 588.6 KT by 2027-end,
expanding at 4.3% CAGR
By material type, demand for polyester coil coating will continue to
gain traction owing to the material’s excellent physical and
chemical properties, such as good chemical resistance and high
durability for interiors & exteriors of buildings and good
formability.
Coil coatings find widespread application in various steel coating
requirements. Moreover, rising preference for pre-coated or
pre-painted steel sheets is also fuelling the demand for various
coating products including coil coatings from the steel manufacturing
industry.
On the basis of end-use, the construction industry is projected to
account for the largest value share of the global coil coating market
over the forecast period.
FMI in its report, titled “Coil Coatings Market Global Industry
Analysis 2012 - 2016 and Opportunity Assessment 2017 – 2027” has
also profiled some of the leading companies operating in the global
coil coatings market, which include Akzo Nobel N.V., The Chemours
Company, Axalta Coating Systems, PPG Industries, Becker Group, The
Valspar Corporation, Henkel AG & Co. KGaA, Kansai Paint CO. Ltd.,
Nipsea Group (Nippon Paint), Noroo Coil Coatings.
In order to develop interregional solutions and simultaneously
increase customer base as well as market share, players are going
into strategic partnerships and mergers across the value chain.
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