Coil Coating Market - Forecasts from 2021 to 2026

The global coil coatings market is expected to grow at a compound annual growth rate of 5.91% over the forecast period to reach a market size of US$9.837 billion in 2026 from US$6.580 billion in 2019.

Coil coatings is method used to coat and paint sheets of metal such as steels, aluminum etc. Coil coating makes material more durable and corrosion resistant. The coil coating provides a smooth finish, green benefits coupled with aesthetic looks to metals used on non-residential construction such as roofs, walls and shades. The growing demand for coil coating is mainly driven by increasing applications in construction, automotive, consumer appliances and others. Owing to its eco-friendly nature, high tensile strength and good adhesion property makes it integral part of industrial sectors. Increasing number of commercial and residential projects in emerging economies has stimulated the demand of coil coatings in those regions. The global coil coating market is expected to witness healthy growth over the forecast period, on account of its growing demand in construction, automotive and electrical & electronics industries, due to superior properties such as stain resistance, corrosion resistance, and flexibility compared to conventional coatings. Increasing coil coatings penetration in pharmaceutical packaging and aerospace applications is expected to have a positive impact on global market growth. Steel and aluminum are among the most dominant application segments for coil coating. Increasing steel and aluminum demand in construction and transportation industries respectively is expected to further drive coil coating demand. This trend is expected to fuel market growth over the next six years. Due to its strain resistance and flexibility, coil coatings are gaining acceptance in packaging materials. Increasing high-efficiency packaging material demand globally for transportation and storage applications is expected to drive the market in the coming years.

Fluctuating prices of raw material with balancing supply and demand is restraining the coil coating market growth in developed regions. High cost of coil coatings compared to conventional coatings and easy availability of substitution of high engineered metals such as polycarbonate plastics hinder the market growth of coil coatings over the forecasted period.

The global coil coatings market is segmented on the basis of end user industry, resin type and geography.

• On the basis of end user industry, the global coil coatings market can be segmented into automotive industry, appliance industry and building and construction industry.
• On the basis of resin type, the global coil coatings market can be segmented into polyester resins, plastisol resins, siliconized polyester resins and fluoropolymer resins.
• On the basis of Geography, the global coil coatings market can be segmented into North America, South America, Europe, Middle East and Africa and Asia Pacific.

Growth Factors

• Increasing use in construction activities

Infrastructure plays a critical role in promoting growth and improving connectivity. Continuous construction spending in the Asian countries including China and India on account of rapid industrialization and urbanization will enhance the product demand. The region accounts for around 50% of global capital spending as China and India offer huge consumer base along with low wage labour thereby attracting multiple construction industry players in the region. The growing non-residential construction spending in countries including the U.S. is expected to boost the coil coatings market size over the study timeframe. According to the United States, Census Bureau, the non-residential construction spending in the country has increased by over 8.5% in the year 2016. The increased use of coil coatings in manufacturing furniture and construction products is predicted to drive the product demand. The coil coating products are used in the furniture applications such as shelving, filing cabinets, storage units, desks, and others.

• Wide use cases

Although the construction segment is expected to be one of the largest consumers of coil coatings, other industries such as consumer electronics and packaging etc. are also increasingly utilizing coil coatings for various purposes. Manufacturers of metallic products across various industries are opting for high-quality composite coatings. Constant improvements in the field of surface chemistry and treatment techniques are projected to create a positive outlook for the market. Due to their stress-resistant properties and flexibility, the coil coatings are also gaining rapid acceptance in the packaging material sector. High-efficiency packaging materials are experiencing significant growth in demand for storage and transportation applications. Moreover, the flourishing electronics segment is also positively influencing the industry growth.

Restraints

• Transportation/ Storage

Transportation and storage of the coatings are some of the major factors restraining the industry proliferation. The lack of proper and safe transportation facilities in the emerging economies may hamper the product adoption. Further, the coatings must be preserved with the proper preservation oil to maintain the finishing. The coil coatings must be stored carefully with certain precautions to maintain their quality.

Impact of COVID - 19.

The COVID - 19 pandemic is expected to have a negative effect on the growth of the coil coatings market as due to the pandemic coil coating manufacturers had to halt operations which is expected to lead to a decline in the supply of coil coating materials, hence, limiting the growth of the market.

Key Developments.

March 2021 - AkzoNobel launches TRINAR TC: The latest innovation in PVDF coil coating technology. Tailored to the coil coatings market, TRINAR TC is formulated from AkzoNobel’s latest proprietary resin and pigment formulation technology to strengthen product performance and hardness, providing increased resistance to abrasions and scratches during and after transport, fabrication and installation.

February 2021 - AkzoNobel launches CERAM-A-STAR 1050 Select Standard Color Program. AkzoNobel has launched CERAM-A-STAR 1050 Select, the leading coil coating technology with a standard color palette program to optimize your business and make color complexity a thing of the past.

August 2020 - JSW Steel looks to raise share in domestic coil-coating segment, launches JSW Radiance

Competitive Insights

Prominent/major key market players in the global coil coatings market include Beckers Group, Wacker Chemie AG, Henkel AG & Co. KGaA among others. The players in the global Coil Coatings market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global coil coatings market.

Segmentation:

By End User Industry

• Automotive
• Appliance
• Building and construction

By Resin Type

• Polyester
• Plastisol
• Siliconized polyester
• Fluoropolymer

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• United Kingdom
• France
• Others
• Middle East and Africa
• Saudi Arabia
• South Africa
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Others