The global coil coatings market size is to reach USD 8.0 billion by 2026 with a CAGR of 6% from 2021-2026.
Coil coatings are science-related chemical formulas for developing the lifespan of metal alloys, especially aluminum and steel alloys. Coil coating is a procedure to coat and paint metals like aluminum and steel.
Coil coatings are used widely and available in a wide range of applications. The demand for coil coatings is high because of growing urbanization and rising enhancements in industries, particularly in developing countries.
COVID-19 Impact on Coil Coatings Market
The novel coronavirus (COVID-19) has widespread to every corner of the world affecting many lives. The World Health Organization (WHO) announced emergency public health issues and the world like a pandemic. Nations across the globe imposed lockdown to avoid the virus spread. After the lockdown is being imposed, work from home was issued to all the employees. During the pandemic period, in the first quarter of 2020, all the manufacturing, production works were given a pause. Even the supply of raw materials was temporarily closed due to the transportation ban. The manufacturing of coil coating was stopped due to a lack of workforce. Once the lockdown is lifted, all the works were resumed with limited labor.
The factors driving the coil coatings market are increasing automotive and general industrial coating. Increasing demand from downstream industries, product quality, and rising competition of leading coil coating manufacturers fuel the market growth further.
The growing owing power and increasing disposable income of people in developing economies are witnessed to increase the houses, appliances, furniture, and automotive sales.
The growing number of residential and commercial projects in developing countries is burgeoning the coil coatings market growth.
• High Cost
The cost involved in the process of coil coating is expensive hindering the market growth.
• Lack of Transportation
The lack of appropriate and safe transportation facilities among the developing and underdeveloped countries restrain the coil coatings market growth. Oscillations in prices and raw material supply will diminish the coil coatings market growth during the forecast period. The rising demand for lightweight materials in the automobile industry restricts market growth. In Europe, the reducing demand for coil coatings is likely to obstruct the market in the upcoming years.
COIL COATINGS MARKET REPORT COVERAGE
Market Size Available
2020 – 2026
2021 – 2026
By Type, Application, End-User, and Region
North America, APAC, Europe, LATAM, MEA
The research report on the coil coatings market has been segmented and sub-segmented based on type, application, and end-user.
• Siliconized polyester
Based on the type of coil coatings market, the polyester segment is said to dominate the market throughout the timeline period. The segment shares 60% of the market in terms of volume. Polyester is the most common type of resin and is often used for hot rolled steel and cold rolled steels.
The fluoropolymer segment is likely to have the quickest growth in the coil coatings market. The demand for fluoropolymer in architectural applications provides opportunities over the forthcoming years.
• Building & construction
Geographically, North America dominates the coil coatings market throughout the forecast period. The U.S. is leading the coil coatings market with the majority of the share. In the U.S., the growth of the pharmaceutical industry is increasing propelling the coil coatings market growth. In the U.S., the coil coatings market owes to the recovery of construction and automotive industries fuels the market growth.
The European coil coatings market is to grow at a significant rate with the majority of the share. The coil coatings research and development activities are rising tremendously boosting the market growth. In May 2018, in the UK, researchers from the University of Liverpool, have developed biomass-derived polyester coatings for coil applications. The economic crisis in Europe leads to the motionless growth of coil coatings over the end-user industries like pharmaceuticals, electrical and electronics, and construction fields. The coil coatings market majorly depends on countries like Romania, Russia, Bulgaria, from Central and Eastern European countries.
However, the Asia-Pacific region is growing at a quick pace. Investing high investments in building, construction, and appliances, and heavy economic growth rate escalates the coil coatings market growth throughout the historical period. The government initiatives for infrastructure enhancement and the growing housing market among the emerging countries push the market growth forward. In countries like India, China, Japan, and South Korea, increasing automotive production results in demand for automotive coating applications. India and China emerge as the major contributors in the coil coatings market. The growth also depends on factors like the presence of a large number of manufactures and the quick rise in infrastructural development.
The coil coatings in the Latin American region are expected to witness constant and continuous growth during the forecast period. Countries like Brazil, Mexico contribute a major share of the coil coatings market. In Mexico, the coil coatings demand for construction applications is boosting the market growth. The over is likely to grow over the next upcoming years.
The Middle East & African coil coatings market is scheduled to have a sluggish growth rate over the forecast period. UAE, Israel, Africa, and the Rest of MEA contribute major share in the coil coatings market.
Coil Coatings Market Key Players
Key players involved in the coil coatings market are AkzoNobel, PPG Industries Inc., The Valspar Corp., BASF SE, DuPont, Henkel AG & Co., Kansai Paint Chemical Ltd., The Beckers Group, The Sherwin-Williams Co., and Wacker Chemie AG.
Notable Happenings in the Global Coil Coatings Market
• In October 2018, Nippon Paints along with Wiskind launched a joint coil coatings innovation center.
• In December 2018, Beckers Group unveiled the rise in coil and industrial coatings prices globally.
• On July 10, 2020, TRINAR A-CLAD, a coil coating system which was launched by AkzoNobel for aluminum composite panels (ACPs). The system is high-performance for commercial and monumental ACP projects. The system provides smooth, easy work.
Coil Coatings Market - Forecast (2021 - 2026)
Chapter 1. Coil Coatings Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Coil Coatings Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Coil Coatings Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Coil Coatings Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Coil Coatings Market – Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Coil Coatings Market – By Type
6.3. Siliconized Polyester
Chapter 7. Coil Coatings Market – By Application
Chapter 8. Coil Coatings Market – By End User
8.1. Building and Construction
Chapter 9. Coil Coatings Market , By Geography – Market Size, Forecast, Trends & Insights
9.1. North America
9.2.7. Rest of Europe
9.3. Asia Pacific
9.3.2. South Korea
9.3.5. Australia & New Zealand
9.3.6. Rest of Asia-Pacific
9.4. Rest of the World
9.4.1. Middle East
9.4.3. South America
Chapter 10. Coil Coatings Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
10.1. Company 1
10.2. Company 2
10.3. Company 3
10.4. Company 4
10.5. Company 5
10.6. Company 6
10.7. Company 7
10.8. Company 8
10.9. Company 9
10.10. Company 10
Primary & Secondary Sources to Collect & Validate Data
Utilization of Both Top Down & Bottom Up Approach
Holistic Research Methodology
Scope & Introductory Research
In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.
Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders.
At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.
At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.
Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report.
Quality Assurance & Report Preparation
Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.