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"Global Coil Coatings Market was valued at US$ XX Mn in 2019 and it is Expected to Grow at a CAGR of 5.5% During the Forecast Period."
Coil coating is a continuous process of coating coils of metals by the polyester resin and other coating materials in the enhanced application. Coil coatings have significant qualities such as stain resistance. Coil coatings are utilized in automobile coating applications across the various sectors that use metals. The use of coil coatings is considerably applied among the construction and infrastructure industry accounted as the largest consumer of coil coatings. The main resins applied in the infrastructure industry mostly constitute of polyester resin, silicone-modified polyester and polyvinylidene fluorides (PVDF) or fluoropolymer. Increased building codes contribute to energy-efficient structures. The consumption of coil coatings is rapidly growing in home builders and consumers by slowly shifting towards building strategies to deliver performance and energy savings.
The infrared-reflective pigment technology of coil coatings exhibits the properties including aesthetic look, durability, and functionality. Therefore coil coating technology has lesser energy consumption through supporting in maintaining the interior temperature of offerings. As per the energy department, cooling and heating costs are accounted for approximately 48% of power usage in the US household. The molding capability of the coil coatings is accounted for most of the shapes, high resistance, increased lifetime, superior aesthetics and color, texture choices, with environmental advantages enable it to be a coil coating with good choices of interior and exterior construction usages. Moreover, these coil coatings are applied for manufacturing gutters and downspouts for rainwater gathering installations. Increased application of coil coatings is among various leaf and debris prevention techniques, that are introduced in the recently.
The main usage of coil coatings is observed mostly in the building and construction sector. As per the International Federation of Accountants (IFAC), about half of this construction materials support in the global economy accounted for about 42.4 billion tons are consumed by the construction industry in infrastructure maintenance. Such amount of consumption by the construction industry authenticates coil coatings extensively. Owing to the fact that the construction industry is poised to dominate the global GDP to suffice the sustainable development goals of the United Nations (UN) for the growing population, the application of coil coatings in the building and construction is estimated to observe a steady CAGR of 5% through to 2025.
Polyester coil coatings Segment is anticipated to Expand at Rapid Pace during the Forecast Period
Polyester coil coatings are anticipated to have considerable demand in the year 2019 and increased by 110 BPS till 2027. Consumption of polyester is increasing globally, contributing to material’s best properties, chemical resistance, formability, and capability to withstand extreme weather conditions, thus safeguarding both interiors and exteriors of infrastructure. Consumption of polyester globally captured approximately 650 KT in 2019 and is anticipated to meet greater than 850 KT by 2027. Polyester coil coatings steadily continue to improve the strategies, where the demand for their raw materials such as epoxy and acrylic is expected to increase at a normal rate in the global coil coatings market during the forecast period.
The Asia-Pacific region is projected to register the Highest Growth in the Coil Coatings Market during the Forecast Period
The Asia-Pacific region surpasses the market share of other regions worldwide. Coil coatings have significant high-end aesthetics and enhanced lifespan, utilized for infrastructure and construction industry. It includes In-ceiling grids, doors, roofing and siding, windows, etc. The infrastructure industry increases to grow its market of coil coatings could also rise. The construction industry market of Asia-Pacific is the largest market that is led by India, China, and various Southeast Asian countries.
The global coil coatings market is fragmented among the number of local and global players. The coil coatings market is fragmented and dominated by very few players.
Key players operating in the global COIL COATINGS market are AkzoNobel, PPG Industries, Solvay SA, Beckers Group, and the Sherwin Williams Company.
Global Coil Coatings Market Key Segments:
Global Coil Coatings Market, By Resin:
- Polyvinylidene Fluorides (PVDF)
- Other Resin Types
Global Coil Coatings Market, By Application
- Building and Construction
- Industrial and Domestic Appliances
- Other End-user Industries
Global Coil Coatings Market, By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa