The latest report by IMARC Group, titled “Coil Coatings Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global coil coatings market size reached US$ 5.8 Billion in 2018. Coil coating refers to an automated method of coating metal coils, such as steel and aluminum, before fabricating them into end products. They offer several benefits, including improved aesthetics, cost efficiency, high paint adherence, longer shelf life and superior water, chemical, thermal, weathering and strain resistance. On account of these advantages, coil coatings find extensive applications across sectors ranging from automation and construction to oil and gas and electronics.
Global Coil Coatings Market Trends:
Coil coatings offer several benefits, such as superior longevity, aesthetics, and flexibility. Owing to this, they are employed in ceiling grinds, wall panels, metal roofing and siding, doors, storage units, and windows. Besides this, they are increasingly being used for metals that are utilized in transformers, inductors, armatures and other household appliances, which has increased their demand across the electrical and electronics industries. Other than this, coil coatings are used as a part of rainwater collection facilities for making downspouts and gutters. Apart from this, due to rising environmental concerns, several organizations are taking initiatives for promoting and creating awareness about the sustainability of coil coatings. For instance, the European Coil Coating Association (ECCA), an international non-profit organization, is promoting the use of coil or sheet coatings as ecologically sound, cost-effective and high-quality methods of finishing. Furthermore, various technological innovations, such as the introduction of enhanced infrared-reflective pigment technology in coil coatings, have helped in energy conservation, providing durability and improving the functionality of the process. Looking forward, the market value is projected to reach US$ 8.3 Billion by 2024, expanding at a CAGR of 6% during 2019-2024.
- Based on the type, the market has been segmented as polyester, fluoropolymer, siliconized polyester, polyvinylidene difluoride (PVDF), polyurethane (PU), plastisol and other coil coatings.
- On the basis of the application, the market has been segregated into aluminum and steel.
- The market has been bifurcated on the basis of the end use industry into building and construction, appliances, automotive, and others.
- Region-wise, the market has been categorized into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Akzo Nobel N.V, PPG Industries, Inc., BASF SE, The Valspar Corporation, E. I. du Pont de Nemours and Company, Henkel AG & Company, KGaA, Kansai Paint Co., Ltd., BDM Coil Coaters, LLC, CENTRIA Coating Services, Dura Coat Products, Inc., Goldin Metals, Inc., Jupiter Aluminum Corporation, Metal Coaters System, Novelis Inc., ArcelorMittal S.A. and Arconic Inc.
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