Functional Coil Coating Market by Material, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025

Executive Summary

According to this report titled 'Functional Coil Coating Market by Material, Technology, and End Use: Global Opportunity Analysis and Industry Forecast, 2018 - 2025', the global Functional Coil Coating Market was valued at $651.0 million in 2017, and is projected to reach $948.8 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.

Functional coil coating is a method of applying organic coating material on rolled metal sheets such as steel, stainless steel, and aluminum before it is reshaped, flexed, or deep-drawn. Increase in population and changes in investment preference of customers propel the growth of the construction industry. This in turn is anticipated to fuel the demand for functional coil-coated metals, as they are majorly used in formulation of metal roofs, wall panels, storage units, and garage doors to enhance the aesthetics and durability of the infrastructure. Moreover, advantages of functional coil-coated metals such as design flexibility, greater resistance to corrosion & weathering, and availability of color & textures boost the adoption of functional coil-coated metal across interior and exterior construction.

In addition, development of the automotive industry and rapid increase in disposable income of customer are some of the key factors that supplement the growth of the automotive market. Moreover, increase in preference for possessing personal vehicle among customers propels the global automobile production. This in turn is expected to drive the need for functional coil-coated metals, as they are used in the automobile industry due to their various advantages such as enhanced paint adherence, chemical & water resistance, and improved aesthetics as compared to other substitutes.

More importantly, functional coil-coated metal causes reduction in expenses on the in-house coating plant of the automobile manufacturer. Rise in consumers demand for aesthetics and prolonged durability of product lead to their increased use in this industry. Furthermore, surge in preference for functional coil-coated metal, owing to their prolonged corrosion warranty accelerates growth of this market. Functional coil coating market growth was moderate over the past few years, however, it is expected to rise significantly due to abovementioned growth drivers.

Based on material, the market is divided into acrylic, epoxy resins, plastisol, polyvinylidene fluoride, polyester, polyurethane and PVC/vinyl. Functional coil coatings comprise various materials to enhance functioning of the coating such as proper binding, prolonged adherence, corrosion resistance, and others. Thermosetting material epoxy resin is majorly used in the formulation of these coatings to enhance the binding ability of the surface. Thermoplastic materials such as acrylic, plastisol, polyvinylidene fluoride, and PVC/vinyl are used in the formulation of these coatings to obtain enhanced strength and design flexibility. Functional coil coating market size for polyurethane is expected to grow significantly as a result of its application specific nature among other material type.

Based on technology, the market is analyzed across liquid coating 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.

Based on end use, the market is segregated into construction, appliances, automobile industry, and others. Functional coil coating process is specifically done on steel and aluminum. The development of the construction, automobile, appliances, and furniture industries is the major factor that fuels the demand for these metals. 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.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific emerge as a global leader in this market due to increase in demand for functional coil-coated metal in the developing economies such as India and China, owing to rise in number of investors, development of the automobile & construction industries, and increase in users of furniture. In addition, increase in sales of electric vehicles in North America and Europe supplements the market growth. North America functional coil coating market size likely to progress over the coming years due to promising growth shown by appliances sector in the U.S.

Key Findings of the Functional Coil Coating Market:

The Asia-Pacific was the largest region in 2017 and is predicted to hold a share of over 34% by the end of 2025
Based on technology, liquid coating segment is accounted for largest share of over 65% among the other technology in 2017, and is predicted to maintain the lead during the forecast period
The Polyester in the material segment is projected to have a share of over 25% in 2017, and is projected to continue its dominance during the forecast period

Market players have adopted expansion, acquisition, and collaboration as their key strategies to gain competitive advantage in this market. The key players profiled in this report include Akzo Nobel N.V., Axalta Coatings Systems, BASF SE, Eastman Chemical Company, Kansai Paint Co., Ltd., KelCoatings Ltd., Nippon Paints Holdings Co. Ltd., PPG Industries Inc., The Sherwin Williams Company, and The Chemours Company.

Methodology

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.