NEW YORK , May 25, 2022 /PRNewswire/ -- As per Zion Market Research study, The Coil Coatings Market was worth around USD 4,291.7 million in 2021 and is estimated to grow to about USD 5,525.03 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.3 percent over the forecast period. The report analyzes the Coil Coatings Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Coil Coatings Market.
Key Industry Insights & Finding of the Coil Coatings Market Reports:
As per the analysis shared by our research analyst, the Coil Coatings Market is expected to grow annually at a CAGR of around 4.3 % (2022-2028).
Through the primary research, it was established that the Coil Coatings Market was valued approximately USD 4,291.7 Million in 2021 and is projected to reach to roughly USD 5,525.03 Million by 2028.
Asia Pacific now dominates the global coil coatings market demand and will do so in the future due to the presence of a large number of manufacturers and a significant end-user industry.
This trend is reflected in the ongoing PPP (Public-Private Partnership) program, which focuses on social infrastructure as well as environmental protection initiatives.
Rising investment and government attempts to stimulate construction activity in the Asia Pacific would advance the region.
Zion Market Research published the latest report titled as "Coil Coatings Market By Resin Type (Polyester, Fluoropolymer, Siliconized Polyester, Plastisol, and Others). By Application (Steel and Aluminum). By End-User Industry (Building & Construction, Automotive, Appliance, and Others). and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.
Coil coating is an automated and continuous industrial process that coats metal coils effectively. The coatings work on a simple but successful concept of cleaning, pretreating, and coating flat coils, steel sheets, or aluminium sheets. The rapid expansion of the construction industry as a result of greater disposable income and increased government investment in public infrastructure is expected to drive sales. The increasing use of coil coating paint in pre-coated items or metals used in construction wall cladding and roofing will continue to drive the market. Additionally, rising disposable income and a higher standard of living fuel demand for modern furniture, which is predicted to drive up demand for functional coil-coated metals. The automobile industry is also expected to drive global expansion. Color coated coils are commonly used by automakers because they give metals with a consistent and high-quality finish at a low cost. Moreover, the usage of these metals improves the design and aesthetics of home appliances and allows producers to customize the texture.
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Coil Coatings Market: Growth Dynamics
Drivers: The Oil and Gas Industry is Helping the Market.
There is a discernible increase in demand for oil and gas resources around the world, which is due to increased demand from the automobile and aerospace industries. Clearly, oil and gas are one of the key industries that use metals and alloys, particularly steel, in structures, pipelines, reactors, and other equipment that is an essential part of an oil and gas plant. Most steel products, it appears, go through the coil coating process before being employed in diverse applications. Steel and other metals used in the oil and gas industry are providing a revenue stream for coil coatings vendors.
Restraints: Higher the cost of functional coil.
The high cost of processes involved in the manufacture of functional coil coatings is a factor impeding the growth of this market. The coil coating line, which includes various cleaning, heating, and coating tools and equipment, is used in the manufacturing process. The higher the expense of these machines' upkeep, the higher the cost of the process, and the higher the cost of functional coil coatings. Furthermore, due to the higher cost of pre-coated metal, consumers choose household appliances that require the production of fiber or plastic. This is due to the inexpensive pricing of these materials and the same performance as functional coil coatings. The functional coil coating process necessitates the employment of various coating machinery and tools. The usage of these tools for an extended period of time causes wear and tear, restricting the adoption of functional coil coatings.
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Global Coil Coatings Market: Segmentation
The Coil Coatings Market is segregated based on resin type, application, and end-user industry.
By resin type, the market is classified into Polyester, Fluoropolymer, Siliconized Polyester, Plastisol, and Others. Polyester is expected to dominate the worldwide coil coatings market in the future years. Along with its numerous advantageous features, polyester coil paint is increasingly being employed in both the exteriors and interiors of buildings. Polyester is resistant to harsh weather, has outstanding formability, and has strong chemical resistance qualities. It can also give excellent flow properties at a variety of temperatures, making it suitable for use in pre-engineered buildings.
By end-user industry, the market is classified into Building & Construction, Automotive, Appliance, and Others. During the evaluation period, the construction segment is anticipated to continue at the forefront of the worldwide coil coatings market. The market is expected to grow because of an increase in the number of residential and commercial construction projects in both developed and emerging countries. Cleaner technologies for public infrastructure are expected to promote sales of color-coated coils. The growing popularity of the westernization trend throughout emerging nations is expected to result in high demand for personal residences among younger people, boosting the market growth.
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List of Key Players of Coil Coatings Market:
Akzonobel N.V. (Amsterdam Netherlands )
PPG Industries Inc. (U.S.)
and The Valspar Corporation (U.S.).
Henkel AG & Company (Dusseldorf Germany )
Kansai Paint Chemical Limited (Osaka Japan )
The Beckers Group (Berlin Germany )
The Sherwin-Williams Company (U.S.)
Wacker Chemie AG (Munich Germany ).
Key questions answered in this report:
What are the growth rate forecast and market size for Coil Coatings Market?
What are the key driving factors propelling the Coil Coatings Market forward?
What are the most important companies in the Coil Coatings Market Industry?
What segments does the Coil Coatings Market cover?
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By Product Type, By Application, and By End Use
Value (USD Million), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Akzonobel N.V. (Amsterdam, Netherlands), PPG Industries Inc. (U.S.), and The Valspar Corporation (U.S.). BASF SE (Ludwigshafen, Germany), DuPont (U.S.), Henkel AG & Company (Dusseldorf, Germany), Kansai Paint Chemical Limited (Osaka, Japan), The Beckers Group (Berlin, Germany), The Sherwin-Williams Company (U.S.), and Wacker Chemie AG (Munich, Germany).
Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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Expanding automobile industry is driving up product demand.
The Asia Pacific now dominates the global coil coatings market demand and will do so in the future due to the presence of a large number of manufacturers and a significant end-user industry. The region's expanding automobile industry is driving up product demand. Furthermore, the region's expanding building activity will result in tremendous growth potential in the industry landscape. China leads the construction business, investing heavily in South East Asia as part of the Belt and Road Initiative. Construction activity in the country will move to projects that will improve inhabitants' quality of life. This trend is reflected in the ongoing PPP (Public-Private Partnership) program, which focuses on social infrastructure as well as environmental protection initiatives. Rising investment and government attempts to stimulate construction activity in the Asia Pacific would advance the region.
Global Coil Coatings Market is segmented as follows:
Coil Coatings Market: By Resin Type Outlook (2022-2028)
Coil Coatings Market: By Application Outlook (2022-2028)
Coil Coatings Market: By End-User Industry Outlook (2022-2028)
Coil Coatings Market: By Region Outlook (2022-2028)
Rest of Middle East & Africa
Press Release For Coil Coatings Market: https://www.zionmarketresearch.com/news/global-coil-coatings-market
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