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The coil coatings market size is forecast to increase by USD 1.98 billion at a CAGR of 5.69% between 2024 and 2028. The market is witnessing significant growth due to the increasing demand from the building and construction sector. This sector's expansion is driven by the rising infrastructure development and urbanization, leading to a surge in the demand for energy-efficient and durable coatings. Additionally, the increasing number of mergers and acquisitions (M&As) by market companies is aiding market growth. However, the market faces challenges such as the volatility in raw material prices, particularly for key components like polyvinylidene fluoride (PVDF) and polyester resins. These fluctuations can impact the profitability of coil coating manufacturers and may lead to price instability in the market. Nevertheless, market participants are investing in research and development to innovate and create cost-effective coating solutions to mitigate the impact of raw material price volatility.
Coil coatings are a type of protective and decorative finish applied to pre-coated metal sheets used in various industries, including construction and engineering projects. These coatings are used for applications such as ceiling grids, doors, roofing, siding, windows, and more. The construction industry's growth, driven by industrial development and building construction, is expected to boost the demand for coil coatings. Polyester coil coatings, including silicone-modified polyester and fluoropolymer, are popular choices due to their excellent product quality, differentiation, and ability to provide long-lasting protection. Fluoropolymer coatings, such as those based on polyvinylidene fluorides (PVDF), offer superior resistance to weathering, chemicals, and UV radiation.
Coil coatings are also used in architectural applications to create energy-efficient structures. Home builders and consumers increasingly prefer coated metal sheets for their durability, appearance, and energy savings. Export markets also contribute significantly to the growth of the coil coatings industry. Plastisol coil coatings, another type of coating, offer advantages such as ease of application and cost-effectiveness.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Polyester segment is estimated to witness significant growth during the forecast period.Coil coatings play a significant role in various sectors, including ceiling grids for commercial buildings, doors, roofing, siding, and windows. In the construction industry, industrial development and building construction projects benefit from the aesthetics and protective properties of coil coatings. Polyester resins, such as Silicone-modified polyester and Polyvinylidene fluorides (PVDF), are commonly used due to their excellent hardness, stain resistance, and flexibility. These resins, which include Fluoropolymer and Energy-efficient structures, cater to home builders and consumers seeking durable, eco-friendly, and code-compliant solutions. Pre-coated metals, including finished steel, are integral to engineering projects and architectural applications. Coil coatings, available as Polyester Coil Coatings and Plastisol Coil Coatings, provide superior resistance to UV, chemicals, and impact.
Linear polyesters, a primary choice for coil coating applications, offer flexibility, light stability, and chemical resistance when cured with melamine or blocked isocyanate. Environmental influences and advancing technology continue to drive the demand for lightweight materials and high-performance coatings. Trading Economics reports that the export of pre-coated metal sheets is a growing trend, further expanding the market potential for coil coatings. Chemicals & Materials Research indicates that the market will continue to evolve, with innovations in Polyurethane, PVDF, and other resins enhancing the properties and performance of coil coatings.
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The Polyester segment accounted for USD 3.31 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in the Asia-Pacific (APAC) region is experiencing significant growth due to the increasing demand from downstream industries such as automotive and construction. The expanding population and rising disposable income in countries like India and China are driving the construction industry, leading to an increased need for corrosion-resistant coatings. Furthermore, the automotive industry in APAC is thriving, with many global manufacturers setting up production bases in the region to take advantage of low-cost labor. For instance, BMW announced the launch of its electric four-door coupe, the i4, in Singapore by the end of 2022. Coil coating manufacturers are focusing on providing high-quality products with superior fluoropolymer technology to differentiate themselves in the market.
Our coil coatings market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The construction industry exhibits a significant demand for building materials and related services. The market is experiencing significant growth due to the increasing demand for these protective coatings in the building and construction sector. Coil coatings are applied to various surfaces, including doors, windows, roofing, siding, and ceiling grids, to enhance their aesthetics and provide superior corrosion resistance, adhesion, and scratch resistance. The construction industry, which encompasses the building of houses, public buildings, and industrial facilities, is witnessing a surge in activities due to factors such as the trend towards energy-efficient structures, population migration, and urbanization. Moreover, building codes and regulations are increasingly mandating the use of high-performance coatings to ensure the longevity and durability of structures.
The use of coil coatings is also gaining popularity in engineering projects and architectural applications due to their advanced properties, such as hardness, flexibility, and stain resistance. The market for coil coatings is driven by the demand for pre-coated metal sheets, including those made of finished steel, and the export of these products to various industries and regions. Technological advancements, such as the use of lightweight materials and fluoropolymer coatings, are further expanding the market's scope. Chemicals & Materials Research indicates that the environmental influences on coil coatings are also a significant consideration, and manufacturers are continually developing new formulations to meet the evolving needs of consumers and building codes.
Increasing the number of M&As by companies is the primary trend shaping the market. Prominent players in the market are primarily focusing on various growth strategies such as acquisitions, partnerships, and collaborations to broaden their product portfolio landscape and garner large market shares. The market has the presence of international and local players. The prominent players in the market in focus strategically focus on acquisitions to expand their business in the market.
For instance, in June 2022, AkzoNobel announced that they had acquired African paints and coatings services from Kansai Paint. Acquiring Kansai Paint's services in the region will help US further expand our paints and coating business in Africa. The intended acquisition also includes automotive and protective coatings and coatings for wood and coil. Thus, such factors will contribute to the growth of the market during the forecast period.
Coil coatings' raw material prices exhibit fluctuation due to various market factors, including supply and demand dynamics and changes in the cost of feedstocks. Coil coatings are extensively used in various sectors such as construction, industrial development, and engineering projects for applications including ceiling grids, doors, roofing, siding, windows, and architectural applications. The demand for coil coatings is driven by building construction projects, renovation activities, and the need for energy-efficient structures. Key raw materials used in coil coating manufacturing are binders, primarily resins, and solvents. These include Polyester resin, Silicone-modified polyester, Polyvinylidene fluorides (PVDF), Fluoropolymer, Polyurethane, and Plastisol. Fluctuations in the prices of these raw materials significantly impact the cost of coil coatings. Factors such as high demand-to-supply ratio, taxes, duties, additional tariffs, and production disruptions in mining can lead to increased raw material prices.
To mitigate these price fluctuations, manufacturers are procuring raw materials before scheduled production to maintain price and product mix at controllable levels. The advancement of technology in coil coatings has led to the development of lightweight materials and coatings with superior hardness, stain resistance, and flexibility, catering to the needs of home builders, consumers, and building codes. Export of pre-coated metal sheets, particularly finished steel, is another significant market for coil coatings, with Trading Economics reporting a steady growth trend. Chemicals & Materials Research indicates that environmental influences are also a key consideration in the selection of coil coatings, with a growing emphasis on eco-friendly and sustainable solutions.
The coil coatings market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Akzo Nobel NVOur company provides a range of advanced coil coating solutions for various applications. Notably, we offer CERAM A STAR E for spray application on aluminum surfaces. This coating boasts exceptional performance and durability, making it an ideal choice for exterior applications. Additionally, we provide ACRA BOND ULTRA for interior metal surfaces and residential window and door systems. This coating ensures superior bonding and adhesion, providing enhanced protection and longevity for these applications. Our commitment to offering high-quality coil coatings enables US to cater to diverse industries and customer needs.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to its extensive applications in various sectors such as ceiling grids, doors, roofing, siding, windows, and construction. Industrial development and building construction projects are major drivers for the market, with renovation activities also contributing to its growth. Aesthetics and durability are key factors driving the demand for coil coatings in architectural applications. Polyester resin, silicone-modified polyester, polyvinylidene fluorides (PVDF), fluoropolymer, and polyurethane are commonly used resins in coil coatings. The use of energy-efficient structures and the increasing demand for lightweight materials in construction are expected to boost the market. Home builders and consumers prefer coil coatings due to their hardness, stain resistance, and flexibility.
Building codes and environmental influences are major factors impacting the market. Trading economics and chemicals & materials research indicate that export is a significant contributor to the market growth. Pre-coated metals, finished steel, and engineering projects are major applications for coil coatings in industrial applications. Fluoropolymer coatings, plastisol coil coatings, and PVDF are popular choices for their superior performance in harsh environments.
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Market Scope |
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Report Coverage |
Details |
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Page number |
184 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.69% |
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Market growth 2024-2028 |
USD 1.98 billion |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
4.87 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 52% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Akzo Nobel NV, Allnex GMBH, Axalta Coating Systems Ltd., BASF SE, Beckers Group, BlueScope Steel Ltd., Bulk Chemicals Inc., Cabot Corp., Covestro AG, Englert Inc., Euramax, Henkel AG and Co. KGaA, Kansai Paint Co. Ltd., Material Sciences Corp., Nippon Paint Holdings Co. Ltd., Northern Coatings and Chemical Co., PPG Industries Inc., Salchi Metalcoat Srl, The Sherwin Williams Co., and Wacker Chemie AG |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Resin Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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