The global coil coatings market reached a value of US$ 5.8 Billion in 2018. Coil coating is a method of coating and painting coils of metals such as aluminum and steel. It is a chemical pre-treatment which is applied on all sides of the metal to make it corrosion resistant. These coatings are made using polyester, siliconized polyester, polyvinylidene difluoride (PVDF), plastisol and polyurethane. They have beneficial properties such as design flexibility, enhanced resistance to weathering and corrosion and diversified colors and textures. Furthermore, coil coating provides a smooth finish and improved aesthetics, along with increased durability to a structure, owing to which they are extensively used in metal roofs, storage units, wall panels and garage doors.
The thriving construction industry is one of the key factors driving the growth of the market. The building and construction industry is one of the largest consumers of coating resins. Additionally, there has been a significant rise in the number of residential as well as commercial construction projects owing to the rising trend of green buildings, increased rate of migration, and rapid urbanization, which has further enhanced the product demand. Apart from this, 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. Looking forward, IMARC Group expects the market to reach a value of US$ 8.3 Billion by 2024, registering a CAGR of around 6% during 2019-2024.
The report has also analyzed the competitive landscape of the market with some of the key players being Akzonobel N.V, PPG Industries, BASF SE, The Valspar Corporation, E. I. Du Pont De Nemours and Company, Henkel AG & Company, Kansai Paint Company, BDM Coil Coaters, CENTRIA, Dura Coat Products, Goldin Metals, Jupiter Aluminum Corporation, Metal Coaters System, Novelis, ArcelorMittal, Arconic, etc.
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