In the Report “Coil Coatings Market: By Type (Polyester, Fluororpolymers, Plastisol, Others); By Application (Aluminum and Steel); By End-user (Building, Appliance, Automotive, Furniture and Others); By Region - (2018-2028)“ published by IndustryARC the market’s increasing demand in steel and aluminum construction and transportation industry is driving the growth.
The Global Coil Coatings Market looks good with extensive opportunities in construction, transport, furniture and other sectors. On the basis of comprehensive research, it is predicted that the marketplace demand for aluminum and steel industry coatings, is becoming an integral part of commercial and industrial sectors. The findings in the report also compare automotive business, which is a driving factor for the demand of epoxy coatings market.
Asia-Pacific growing with major share in the Coil Coatings Market
The Asia-Pacific region is among the fastest growing markets for the coil coating formulation industry. China, India, Indonesia and other developing economies make the Asia-Pacific region one of the prominent markets with ample opportunities in automotive, building and construction. North America, led by the presence of the U.S. and Canada, is playing a significant role in industrial paint development. Similarly, Europe is a significant market as well, mostly in Western Europe, due to the existence of well-known industries known for pre-coated steel and aluminum.
Selected Type Analysis done in the full Report:
The growing prominence of performance products is driving the market. Polyester is the important application. This segment is slated to generate a revenue of $2.95 billion in 2018 and is estimated to reach $5.56 billion in 2028. The increased use of polyesters will drive this segment at the fastest CAGR of 5.69% through 2028. Fluoropolymer market volume generated in 2018 is 26.8 million gallons. The market is foreseen to reach 43.7 million gallons till 2028, growing at a CAGR of 5.46% and is slated to gain a revenue of $701.5 million by 2028. Features like high electronegativity, low polarizability, and highly durable in architectural coatings are boosting the market. Siliconized Polyester is one segment where rate of growth is comparatively less than the above one, but in terms of revenue, it is expected to gain $708.9 million by 2028 at a CAGR of 5.25%. The major reason behind the demand is the composition which consists of durable polyester resin and a siliconized polyester resin, having 5% silicone content which makes the process of coil coatings much easier than the other paint coatings.
Pastisol coating is an excellent insulator and mostly used in electrical applications. Increased use of electrical products will increase the demand of pastisol coil coatings in various regions..
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Excerpts on Market Growth Factors
• New hydrophobic coating and process development is the next step for the evolution of coil coatings. Many efforts were made and are ongoing to find new applications and markets for coil coating products, diversifying their end-uses.
• Older technologies are being replaced by newer and increasingly advanced technologies such as radiation, along with water borne systems.
• Increasing urbanization, working women population and penetration of retail sector, the functional food and baby food sectors are opening new opportunities for the development of new functional food categories with offers for the protein ingredient manufacturers to develop and deliver tailor made solutions.
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Key players of the Coil Coatings Market
AkzoNobel Coatings Inc. is the market leader in the global coil coating market, in terms of the profits. BASF SE. has the higher value of EBIT as compared to its core competitors in the arena. PPG Industries have recorded more than average shares as compared to the other leaders in the industry, earned during the present forecast period. If we take a look at the mentioned key players, the overall shares built is more than 79% and will be increasing till any modification resumes.
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