Key excerpts from Future Market Insights’ new study on the global coil coatings market reveals that by the end of 2027, around 1,368.0 KT of coil coatings will be sold globally. Between 2017 and 2027, the global coil coatings market is expected to register a CAGR of 4.6%, reaching a valuation of US$ 6,312.1 Mn. Rising expenditure in the construction industry, especially for non-residential construction is expected to drive the sales of coil coatings over the next couple of years. The recent boom in the construction sector has been fueling the demand for coated steel and aluminium coils of late. In addition, continuous demand for domestic appliances and construction materials across the globe are also supporting the market growth.
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Development of eco-friendly coating products to check emission levels and commencement of grid power projects are some of the key trends governing the global coil coatings market. Amongst the key regions, sales of coil coatings in Asia Pacific excluding Japan (APEJ) will remain robust throughout the forecast period on account of the increasing infrastructure investments in the region, favouring the growth of the market. APEJ’s coil coatings market, which is currently valued at over US$ 1,472 Mn is expected to surpass US$ 2,525 Mn over 2027. During the same period, the Middle East and Africa (MEA) will also become a highly attractive market and is expected to witness a relatively higher CAGR as compared to other regions. Meanwhile, North America and Western Europe are currently identified as the second and third largest market for coil coatings respectively.
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Additional highlights of Report Include:
Throughout the assessment period, sales of topcoats are anticipated to remain relatively higher as compared to all the other major coil coating product types. In 2016, around 369.5 KT of topcoats were sold worldwide, which is expected to increase to 588.6 KT by 2027-end, expanding at 4.3% CAGR.
By material type, demand for polyester coil coating will continue to gain traction owing to the material’s excellent physical and chemical properties, such as good chemical resistance and high durability for interiors & exteriors of buildings and good formability.
Coil coatings find widespread application in various steel coating requirements. Moreover, rising preference for pre-coated or pre-painted steel sheets is also fuelling the demand for various coating products including coil coatings from the steel manufacturing industry.
On the basis of end-use, the construction industry is projected to account for the largest value share of the global coil coating market over the forecast period.
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FMI in its report, titled “Coil Coatings Market Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027” has also profiled some of the leading companies operating in the global coil coatings market, which include Akzo Nobel N.V., The Chemours Company, Axalta Coating Systems, PPG Industries, Becker Group, The Valspar Corporation, Henkel AG & Co. KGaA, Kansai Paint CO. Ltd., Nipsea Group (Nippon Paint), Noroo Coil Coatings.