January 13, 2020
According to the research report titled ‘Coil Coatings Market Size By Product (Polyester, Silicone Modified Polyester [SMP], Polyvinylidine Fluorides [PVDF], Polyurethane [PU], Plastisols), By End User Industry (Construction, Automotive, Appliances), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global coil coatings market is expected to cross USD 4.5 billion by the year 2026.
According to the report, rising per capita income, shifting preferences, and rapid urbanization has led to increasing utilization of home appliances which in turn is driving the coil coatings market growth. Advancements in UV technology and anticorrosive primers are stimulating the industry outlook. Homeowners are increasingly adopting smart appliances for their homes. This factor along with evolving lifestyle and favorable government initiatives are contributing towards the marker growth. However, limitations in transportation and storage of coil coatings may hinder the growth of the market.
As per product type, the polyurethane coil coatings market segment is expected to register considerable growth during the estimated timeframe. Polyurethane (PE) coatings offer better gloss cosmetic finishes and have high resistance to chemicals. Moreover, these products not only prevent corrosion, but also offer enhanced weather resistance properties. Rising adoption of polyurethane coatings in construction sector is further fueling the polyurethane coil coatings market growth.
In terms of end-user, construction segment is expected to dominate the coil coatings market during the forecast period. Rising product adoption coupled with rapid expansion of construction sector is facilitating the business scenario. Advancements in metallurgy technologies is also propelling the market growth.
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As per regional analysis, the report states that Asia-Pacific coil coatings market held the largest share in 2018 followed by Europe and North America respectively. Flourishing furniture and automotive industry are contributing towards the popularity of the product across the Asia-Pacific region.
The prominent companies operating in the coil coatings market are ACE Coating, Toyo Ink, Solvosol Paints Pvt. Ltd., Metal Coatings India Ltd. (MCIL), Axalta Coating Systems LLC, Nippon Paint Co. Ltd., Bulk Chemicals Inc., Kansai Paint Co. Ltd., Henkel AG & Co. KGaA., Dura Coat Products Inc., Beckers Group, PPG Industries Inc., Wacker Chemie AG, Akzo Nobel N.V., and Sherwin-William.
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