The global Coil Coatings market was valued at USD 5,263.14 million in 2019 and is expected to reach USD 8,438.65 million by 2027, growing at a CAGR of 6.11% from 2020 to 2027.
Coil coating is an automated and continuous process that coils the metal before fabrication. In general, one continuous metal coiling process can wind up to 72 inches wide moving up to 700 feet per minute of the metal sheet. The treatment very precisely wraps up the coil on metal, without any damage; the metal sheets are then cleaned, treated chemically, primed, oven cured twice, rewound, and packed for the shipment. Coated coil offers attractive topcoats, green benefits, durable and long-lasting surfaces, and is cost-effective. The above-mentioned factors serve to be the key pointers that increase the demand for coated coil among consumers.
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Coil coatings possess various properties such as enhanced resistance to weather & corrosion, design flexibility, and abundant availability of textures & colors. These properties make coil coating an ideal choice for the manufacturing of garage doors, metal roofs, storage units, and wall panels to improve the durability of the infrastructure.
The global coil coatings market growth is expected to boost during the forecast years, accounting for the robust growth recorded in the construction industry, increasing demand from automobile sectors, and the changing manufacturing format by home appliance manufacturers. Furthermore, the collective demand for both the commercial and residential and furniture from emerging countries coupled with the urging need for enhanced efficiency of packaging materials also aids in adding the trust to the industrial growth.
Impact of Covid-19 on Coil Coating Market
The outbreak of coronavirus has adversely affected the coil coating industry and has brought a deep recession caused due to the effects of lockdown across the globe. As a result of the demand, the coating sector virtually collapsed for a period and still unlikely to revive from the loss. This has also resulted in the delay in the process of export of raw materials from China; thereby, affecting the production and supply chain of the global coil coating market
Key Market Players:
The leading players of the global coil coatings market include ACE Coating, Akzo Nobel N.V., Axalta Coating Systems LLC, Beckers Group, Bulk Chemicals Incorporated, Dura Coat Products, Inc., PPG Industries, Sherwin-William, Solvosol Paints Pvt. Ltd., and Toyo Ink
The Coil Coating market is segmented as follows
- Siliconized polyester
- North America
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