Coil Coatings Market To Observe a Significant CAGR from 2024 to 2032; Surging Demand for Environmentally-friendly and Durable Coatings to Proliferate the Market Growth. Fortune Business Insights presents this information in their report titled "Coil Coatings Market Size Report, 2024–2032."
Coil coating refers to a process that entails the application of the coating material on rolling metal strips repeatedly. It helps efficiently manufacture high-quality, uniform, and coated finish over metal. The rising demand from the building and construction industry that leverages protective coatings in different applications is boosting the market growth.
Coil Coatings Market Segmentation:
By resin type, the market is segregated into plastisols, polyester, polyvinylidene difluorides (PVDF), polyurethane (PU), and others. The polyester segment accounts for a considerable coil coatings market share. Polyester is the most deployed material in the paints & coatings industry and depicts weather and corrosion-resistant attributes. This factor is boosting the polyester segment growth.
In terms of end-user industry, the market is divided into automotive, appliances, building & construction, and others. The building & construction segment secures a significant share. The surging commercial and residential building construction in emerging and developing nations is impelling the building & construction segment expansion.
From the regional perspective, the market for coil coatings is categorized into Latin America, the Asia Pacific, Europe, the Middle East & Africa, and North America.
Coil Coatings Market Report Coverage
The research report offers vital insights into the key driving and restraining factors affecting the coil coatings market size. In addition, it provides an in-depth analysis of the notable industry developments, COVID-19 pandemic impact, and key segments. Besides this, the report provides a comprehensive coverage of the strategic measures adopted by top companies to outshine the competition.
Drivers:
Growth inDemand for Environmentally-friendly and Durable Coatings to Support the Market Expansion
One of the key factors augmenting the market growth is a surge in the demand for durable and environmentally friendly coatings. More industries are turning to environment-friendly coatings due to the increasing environmental awareness pertaining to the detrimental effects of conventional coatings. The rising popularity of coil coatings over traditional coatings, which can be attributed to their enhanced performance, cost-effectiveness, and excellent durability, is expediting the market expansion.
Regional Coil Coatings Market Insights:
Asia Pacific is Slated to Grow at a Faster Pace Owing to Rising Demand for Renovated & New Residential Construction
North America coil coatings market growth is driven by an increase in the demand for renovated & new residential construction. The regional growth can also be ascribed to the quick expansion of industrialization and urbanization.
North America and Europe market growth can be credited to the surging demand for consumer appliances, including dishwashers, laundry, and refrigeration. The strong presence of key regional players is further bolstering the growth of the market.
Source- https://www.fortunebusinessinsights.com/coil-coatings-market-108289
Competitive Landscape:
Market Leaders Focus on Launching New Products to Gain a Competitive Edge
The coil coatings market is witnessing the implementation of different competitive strategies, such as joint ventures, mergers & acquisitions, and collaborations to enhance their position. A wide array of companies are also focusing on the launch of new and innovative product capabilities to stand out from the competition.
Coil Coatings Market Industry Development
March 2023: PPG Industries unveiled to release PPG ENVIROCRON Primeron primer powder that offers corrosion resistance for metals.
December 2022: AkzoNobel declared its intent for the acquisition of Lankwitzer Lackfabrik's aluminum wheel liquid coatings business.
May 2019: Henkel unveiled to release its first LOCTITE equipment center in India. It is inclusive of automation technologies, functional coatings, and dispensing solutions.
Major Players Profiled in the Coil Coatings Market Report:
AkzoNobel N.V. (Netherlands)
BASF SE (Germany)
DuPont (U.S.)
Henkel AG (Germany)
Kansai Paint Chemical Limited (Japan)
PPG Industries (U.S.)
Axalta Coatings System LLC (U.S.)
Dura Coat Products (U.S.)
Sherwin Williams (U.S.)