The market for North America Coil Coatings looks promising due to several reasons such as increased use of coil coatings in construction, automotive, appliances, and other applications as well as increase in consumption of different metal substrates with the availability of resins across the North American region. North America Coil Coatings are classified into various resin types such as polyester, polyurethane, epoxy, and others. The North America Coil Coatings market is estimated to grow at a CAGR of 3.65% during the forecast period 2020–2025.
North America Coil Coatings Market Outlook
Coil Coatings are generally produced in different types for diverse applications varying from construction to home appliances. Across North America, various resins such as polyester, polyurethane, epoxy, vinyl, and other resins are being used, in which polyester is used highly by the coil coating manufacturers. Steel and manufacturing industries are use coil coating with polyester resins to a great extent, which is further supplied to various end users.
North America Coil Coatings Market Growth Drivers
The increase in demand for coil coatings from the construction industry, majorly for residential roofing, interiors, and offices, is driving the North America Coil Coatings market. The use of coil coatings by the manufacturing and construction industries in various home appliances also propels the market for coil coatings in the North American region.
North America Coil Coatings Market Challenges
The replacement of aluminum sheets with plastics panels in end user industries is a major challenge for the North America Coil Coatings market. The companies that manufacture coil coatings need to ensure that their products fulfill the requirements as proposed. High consumption of energy during the coil coating process and higher costs of coating technologies are the other challenges faced by the manufacturers.
North America Coil Coatings Market Research Scope
The base year of the study is 2020, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the North America Coil Coatings market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
North America Coil Coatings Market Report: Industry Coverage
Types of North America Coil Coatings: Polyester, Polyurethane, Epoxy, Vinyl, Acrylics, Fluoropolymer (PVDF), Plastisols, and Others
The North America Coil Coatings market report also analyzes the major countries for the market in the. The major countries covered in the study include:
- North America
- The U.S.
- Canada
- Mexico
North America Coil Coatings Market Key Players Perspective
Sherwin-Williams is a major manufacturer of coil coatings across the North American region. The company has its headquarters in the U.S and operates in Europe, The Americas, Asia-Pacific, the Middle East and Africa. Sherwin-Williams, through its broad range of products, constant product launches, and innovation, has been successful in catering to a variety of customers, consequently maintaining its hold over the market.
PPG Industries, headquartered in the U.S, is the next leading player in the North America Coil Coatings market.
North America Coil Coatings Market Trends
Today, building and construction is a significant segment of the coatings market, serving as an engine of growth, predominantly for the emerging and less--developed countries. Also, the growing demand for various components in the automotive sector is expected to fuel the demand for coil coatings across the region. As a result, there is a strong trend towards different substrates and resins used for the end-use applications. High adoption of steel and aluminum in the construction and automotive industries as well as in home appliances is an emerging trend that can be seen across the region.
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