Coil coating is an automated and continuous process for the efficient coating coils of metals, wherein the metal is treated before it is cut and formed and the whole surface is cleaned and treated. It helps in maintaining the qualities of the metal such as hardness, stain resistance, flexibility, and corrosion resistance, which has further led to a tremendous demand for coatings in the end-user industries. Moreover, massive growth in the construction industry in APAC is expected to further fuel the growth of this market.
Drivers for the Market
The growth of the worldwide market for coil coatings can be majorly attributed to the following factors:
- Growing demand for coil coatings from downstream industries
- Increased competition among leading coil coating manufacturers
- Rapidly growing construction, automotive, and appliance industry
- Strict government regulations and increasing environmental compliance
- Growing use of fluoropolymer in building & construction industry
Moreover, major European players are now shifting their focus to the emerging countries such as India and Saudi Arabia, which in turn is driving the market in APAC. Furthermore, growing automotive sector in Asia-Pacific and in the Middle East regions has opened an array of opportunities for the growth of this market.
Although the market is poised to see decent growth ahead, certain factors such as high consumption of energy and electricity during coil coating process, higher costs of coating technologies and raw materials, and replacement of aluminum sheets with plastic panels in building & construction industry may act as bottleneck towards growth of this market. Moreover, reducing costs while maintaining its quality, transportation of coil coatings, and hurdles for the new entrants in this market pose as major challenges for the players involved in this market.
Market Trends
Estimated to grow at a CAGR of 6.30% during the forecast period, the global coil coatings market which was valued at $4,449.02 Million in 2013 is estimated to be valued at $6,410.44 Million by 2019, whereas by volume, the market value is estimated to reach 348.50 Million gallons by 2019, growing at a CAGR of 4.59% between 2014 and 2019. Among regions, Asia-Pacific is the largest market, which accounted for about 51.04% of total market share in 2013, followed by RoW.
Among end-user industry, building & construction sector called for more than 77% of the total demand for coil coatings, with automotive and appliance segments following next.
The major companies involved in the global market for coil coatings include Akzonobel N.V. (Amsterdam, Netherlands), PPG Industries Inc. (U.S.), and The Valspar Corporation (U.S.). Some of the other players operating in this market are BASF SE (Ludwigshafen, Germany), DuPont (U.S.), Henkel AG & Company (Dusseldorf, Germany), Kansai Paint Chemical Limited (Osaka, Japan), The Beckers Group (Berlin, Germany), The Sherwin-Williams Company (U.S.), and Wacker Chemie AG (Munich, Germany).
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Research Scope
The global market for coil coatings has been analyzed and forecasted on the basis of following segmentation:
- Resin Type: Polyester, Fluoropolymer, Siliconized Polyester, Plastisol, Others
- Application: Steel, Aluminum
- End-User Industry: Building & Construction, Automotive, Appliance, Others
- Geography: North America, Western Europe, Asia-Pacific, RoW
