The global functional coil coatings market size was valued at $368.5 million in 2017 and is projected to reach $509 million by 2024, registering a CAGR of 4.8% during the forecast period.
Functional coil coating is conducted on metals, such as steel and aluminum. Coats used in functional coil coatings process comprise materials such as acrylic, polyester, PVDF, and epoxy resin for enhancing the aesthetics. Similarly, these coatings provide metals protection against corrosion and other metal weakening processes.
Increase in demand for corrosion resistant products drives the global functional coil coatings market. Owing to the advantages of functional coil coating process the demand for pre-coated metal is on an increase in the automotive, home appliances, and furniture industries. Steel and aluminum surface coating increases its durability, and provides additional protection against the corrosion, which has increased demand for functional coil coated steel and aluminum parts & sheets in the construction industry. However high cost of the process equipment and consumers propensity toward using the product which does not comprise steel and aluminum restricts the global functional coil coatings market growth. On the other hand, recycling of the coating waste and increasing use of organic coating materials is anticipated to provide the future market growth opportunity.
The global functional coil coatings market is segmented based on Material Type, technology, product type, end user, and region. By Material Type, it is classified into polyester, epoxy, PVC/vinyl, plastisol, PVDF, acrylic, and polyurethane. The primer segment accounted for the maximum share in 2017 because primers are formulated to stick to surfaces and to create a binding layer, which binds to paint or topcoats. Further, primers are essential for avoiding material corrosion as well as paint or coating degradation. Based on technology, the global functional coil coatings market is classified into liquid coating and powder coating. By product type, the global functional coil coatings market is classified into topcoat, primer, and backing coat. In terms of end user, it is divided into construction, appliance, automobile, and others. Based on region, the functional coil coatings industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global functional coil coatings market include KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations in the global functional coil coatings market.
In-depth analysis is conducted through market estimations of key segments from 2017 to 2024.
Comprehensive analysis of factors that drive and restrain the growth is provided in the report.
Extensive analysis of the global functional coil coatings industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the global functional coil coatings market.
KEY MARKET SEGMENTS:
Material Type
Polyester
Epoxy
PVC/Vinyl
Plastisol
Acrylic
Polyurethane
PVDF
By Product Type
Topcoat
Primer
Backing Coat
By Technology
Liquid Coating
Powder Coating
By End User
Construction
Appliance
Automobile
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Functional coil coating is conducted on metals, such as steel and aluminum. Coats used in functional coil coatings process comprise materials such as acrylic, polyester, PVDF, and epoxy resin for enhancing the aesthetics. Similarly, these coatings provide metals protection against corrosion and other metal weakening processes.
Increase in demand for corrosion resistant products drives the global functional coil coatings market. Owing to the advantages of functional coil coating process the demand for pre-coated metal is on an increase in the automotive, home appliances, and furniture industries. Steel and aluminum surface coating increases its durability, and provides additional protection against the corrosion, which has increased demand for functional coil coated steel and aluminum parts & sheets in the construction industry. However high cost of the process equipment and consumers propensity toward using the product which does not comprise steel and aluminum restricts the global functional coil coatings market growth. On the other hand, recycling of the coating waste and increasing use of organic coating materials is anticipated to provide the future market growth opportunity.
The global functional coil coatings market is segmented based on Material Type, technology, product type, end user, and region. By Material Type, it is classified into polyester, epoxy, PVC/vinyl, plastisol, PVDF, acrylic, and polyurethane. The primer segment accounted for the maximum share in 2017 because primers are formulated to stick to surfaces and to create a binding layer, which binds to paint or topcoats. Further, primers are essential for avoiding material corrosion as well as paint or coating degradation. Based on technology, the global functional coil coatings market is classified into liquid coating and powder coating. By product type, the global functional coil coatings market is classified into topcoat, primer, and backing coat. In terms of end user, it is divided into construction, appliance, automobile, and others. Based on region, the functional coil coatings industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global functional coil coatings market include KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations in the global functional coil coatings market.
In-depth analysis is conducted through market estimations of key segments from 2017 to 2024.
Comprehensive analysis of factors that drive and restrain the growth is provided in the report.
Extensive analysis of the global functional coil coatings industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the global functional coil coatings market.
KEY MARKET SEGMENTS:
Material Type
Polyester
Epoxy
PVC/Vinyl
Plastisol
Acrylic
Polyurethane
PVDF
By Product Type
Topcoat
Primer
Backing Coat
By Technology
Liquid Coating
Powder Coating
By End User
Construction
Appliance
Automobile
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Frequently Asked Questions about the Global Functional Coil Coatings Market
What is the estimated value of the Global Functional Coil Coatings Market?
What is the growth rate of the Global Functional Coil Coatings Market?
What is the forecasted size of the Global Functional Coil Coatings Market?
Note: Product cover images may vary from those shown
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FUNCTIONAL COIL COATING MARKET, BY PRODUCT TYPE
CHAPTER 5: FUNCTIONAL COIL COATING MARKET, BY TECHNOLOGY
CHAPTER 6: FUNCTIONAL COIL COATING MARKET, BY END-USE
CHAPTER 7: FUNCTIONAL COIL COATING MARKET, BY MATERIAL TYPE
CHAPTER 8: FUNCTIONAL COIL COATING MARKET, BY REGION
CHAPTER 9: COMPANY PROFILES
Note: Product cover images may vary from those shown
The researcher has published a new report on Functional Coil Coatings Market, the global market size was valued at $368.5 million in 2017 and is likely to reach at $509 million by 2024 at a CAGR of 4.8%.
Increase in application of textured metals in furniture and construction industry is one of the key factors driving the growth of functional coil coatings market. The demand for functional coil coated metal among furniture manufacturers has drastically increased owing to increasing purchasing power parity of consumers.
In addition to, consumers changing demand for designs and aesthetics of home appliances has increased the use of pre-coated metal in home appliances industry which is further spurring the global functional coil coatings industry. Use of organic ingredients and recycling of the waste and coating tools is expected to drive the functional coil coatings market growth in the near future.
The global functional coil coatings market based on technology is bifurcated into liquid coatings and powder coating. The liquid coating method is a traditional method of coating. On the other hand, powder coating is an emerging coating method, which is gaining popularity owing to its minimal waste output and easy application methods.
Advancements in coil coating technology such as use of organic materials and recycling the coating tools are fueling the growth of the functional coil coatings market. These technologies facilitate consumers to apply the coatings in desired texture and quantity. In addition, they provide wider opportunity for pigment customization.
The global functional coil coatings market has witnessed a significant growth in end-user industries. Functional coil coated metals are widely applicable in these industries, owing to the elimination of the cost required for setting up coating plant and quick availability of the pre-coated metals. Moreover, upsurge in demand for texturization of pre-coated metal boosts the growth of the functional coil coatings market.
Key findings of the Functional Coil Coatings Market:
Asia-Pacific and LAMEA segments in the backing coats functional coil coatings market are expected to witness significant growth rates at a CAGR of 6.1% and 5.0%, respectively, during the forecast period.
The powder coating functional coil coating market is projected to reach $177.9 million by 2024.
Europe functional coil coatings market accounted for around 28% of share in 2017.
The UK functional coil coating market was valued at $8.2 million in 2017, and is projected to register a CAGR of 3.8% from 2018 to 2024.
Some of the key players in the functional coil coatings market include KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries.
Increase in application of textured metals in furniture and construction industry is one of the key factors driving the growth of functional coil coatings market. The demand for functional coil coated metal among furniture manufacturers has drastically increased owing to increasing purchasing power parity of consumers.
In addition to, consumers changing demand for designs and aesthetics of home appliances has increased the use of pre-coated metal in home appliances industry which is further spurring the global functional coil coatings industry. Use of organic ingredients and recycling of the waste and coating tools is expected to drive the functional coil coatings market growth in the near future.
The global functional coil coatings market based on technology is bifurcated into liquid coatings and powder coating. The liquid coating method is a traditional method of coating. On the other hand, powder coating is an emerging coating method, which is gaining popularity owing to its minimal waste output and easy application methods.
Advancements in coil coating technology such as use of organic materials and recycling the coating tools are fueling the growth of the functional coil coatings market. These technologies facilitate consumers to apply the coatings in desired texture and quantity. In addition, they provide wider opportunity for pigment customization.
The global functional coil coatings market has witnessed a significant growth in end-user industries. Functional coil coated metals are widely applicable in these industries, owing to the elimination of the cost required for setting up coating plant and quick availability of the pre-coated metals. Moreover, upsurge in demand for texturization of pre-coated metal boosts the growth of the functional coil coatings market.
Key findings of the Functional Coil Coatings Market:
Asia-Pacific and LAMEA segments in the backing coats functional coil coatings market are expected to witness significant growth rates at a CAGR of 6.1% and 5.0%, respectively, during the forecast period.
The powder coating functional coil coating market is projected to reach $177.9 million by 2024.
Europe functional coil coatings market accounted for around 28% of share in 2017.
The UK functional coil coating market was valued at $8.2 million in 2017, and is projected to register a CAGR of 3.8% from 2018 to 2024.
Some of the key players in the functional coil coatings market include KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries.
Note: Product cover images may vary from those shown
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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