Market Research Future (MRFR) recognizes the following companies as the key players in the global Coil Coating Market: BASF SE (Germany), Akzo Nobel N.V (Netherlands), The Valspar Corporation (U.S), PPG Industries, Inc. (U.S), E. I. du Pont (U.S), The Dow Chemical Company (U.S), Wacker Chemie AG (Germany), Nippon Paint Holdings Co., Ltd (Japan), Axalta Coating Systems LLC. (U.S), Henkel AG & Co. KGaA (Germany) and others.
BASF SE, Akzo Nobel N.V, The Valspar Corporation and The Dow Chemical Company has dominated the global coil coating market share in 2016. These are vertical integrated company dominating price value in competitive market. major market players are offering strong distribution and sales channel to trapped the untapped market. With strong channel companies are able to play with prices of raw material and provide quality services on high demand supply.
Global Coil Coatings Market was 4.3 billion in 2015 and is expected to grow at 7.6 billion in 2022 with estimated CAGR of 6.1% from 2016-2022.
Coil Coating is multi-layer coating of pigments, resins and primers used to coat metal sheets such as aluminum and steel. These are used to protect the material from harsh diverse environmental conditions and provide corrosion resistance. Coated rolls, strips and sheets are used in many commercial and industrial applications. The growing demand of coil coatings is due to extensive use of coated material in end user industries such as construction, automobile, electrical and electronic and other consumer appliances. Growing non-residential construction activities including commercial building, manufacturing industries and factories has triggered the demand for coil coatings to sustain harsh weather conditions.
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Rapid industry development, urbanization, increase in per captia income along with rise in consumer spending has been prime factors for rise in demand for coil coating across the globe. Additionally, rapid development of commercial and industrial sector in emerging countries like China, India and Japan are projected to drive the coil coating market growth prospect. However, high cost of raw materials of coil coatings over conventional coatings and availability of substitute can hinder the market growth over the forecasted period.
According to resin type, the coil coating market are segmented as polyester, polyvinylidene fluorides (PVDF), polyurethane, silicone modified polyester and plastisol. Polyester coil coating market is largest market owing to superior properties it provides such as resistance to corrosion and weather resistance in almost all conditions has increased the product demand in various end user industries. Low price of polyester compared to other resin products has coupled the leading position among all resins. The growing demand for polyvinylidene fluoride (PVDF) is majorly due to suitable for harsh conditions as being produced with high technology and high cost. This product also offers visual appeal along with longevity to coated surface. Being expensive resins can slow down the growth of product in developing regions.
Construction coil coating market is leading market owing to rapid industrialization and urbanization in developing as well as developed regions. The increasing government infrastructure expenditure in order to improve public transport and tourism particularly those countries which totally rely on tourism has stimulated the demand of coil coating in those particular regions. Wood panels, roofs, metal sheets are some of the products using coating material for construction and provide artistic appeal to commercial and residential buildings.
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Growing automotive industry in regions like North America and Europe is extensively contributing to coil coating market over the forecasted period. Metals used in vehicles to provide structural strength along with visual appeal to automotive parts has driven the coil coating market in this segment. Moreover, increasing bumper fuel tanks and body parts has lead increase in product demand across automobile industry.
The APAC region coil coating market is expected to grow due to rapid industrializations, favorable government regulations and increase in consumer spending. China being largest producer and consumer of coil coating dominates the region in coil coating market. China, India, Brazil and Indonesia are expected to drive the market demand owing robust industry growth. Major players are also targeting developing regions in order to maximize the profit and meet the growing demand in those regions.
North America witnessed a significant growth owing to being prominent player of automobile sector and consumer appliances. After economic downturn, the government is focusing more on non-residential projects which significantly increase the product demand in this region.
European debt crisis has affected many industries like construction, automobile and appliances. Due to this key player has reluctant to invest in these regions. This has led slow growth of product in European market.
The global Coil Coating market is majorly segmented on the basis of resin type and end user industry. Based on resin type, Coil Coating market is segmented into polyester, polyvinylidene fluorides (pvdf), polyurethane, silicone modified polyester and plastisol. Based on end user industry of Coil Coating, the market is segmented into Construction, Automotive, Electrical & Electronics, Consumer appliances, Others.
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