January 06, 2020
According to the research report titled ‘Global PET Film Coated Steel Coil Market Size For Home Appliances By Application (Refrigerators And Freezers, Washing Machine, Dishwasher, Ovens), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Switzerland, France, Italy, Spain, Russia, Sweden, China, India, Japan, South Korea, Australia, Malaysia, Taiwan, Indonesia, Singapore, Brazil, Mexico, Argentina, Chile, Saudi Arabia, UAE, South Africa, Egypt), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global PET film coated steel coil market is expected to grow significantly by the year 2025.
According to the report, surging need for polymer layered steel for manufacturing smart electronic appliances is a major factor driving PET film coated steel coil market growth. Remote sensing technology and digital configurations in domestic appliances require scratch-free and waterproof protection systems. PET coated coils not only offer rigidity to the devices but also protect against scratches, moistures, and heat. Thus, shifting preferences towards durable and aesthetic products are aiding the expansion of the market.
The report states that escalating investment on innovation and rapid digitalization are further boosting market development. Moreover, there has been an upsurge in disposable income which has led to an increase in the adoption of smart home appliances which in turn is stimulating the industry outlook.
Based on the application spectrum, the market is bifurcated into Refrigerators and Freezers, Washing Machine, Dishwasher, and Ovens. The washing machine application segment is expected to grow with a CAGR of 8% during 2019-2025. Rising concerns pertaining to power and water wastage have compelled consumers to purchase energy efficient devices which in turn is fueling the growth of the segment.
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As per regional analysis the report cites that Latin America PET Film coated steel coil market will register substantial growth during the estimated timeframe. Growing middle-class population and evolving lifestyles are contributing towards the popularity of the product across the region. Moreover, Latin America holds 3 % share in global steel production market and is therefore a promising revenue ground for this product.
The prominent companies operating in PET film coated steel coil market are Lienchy Laminated Metal Co., ArcelorMittal, Stargroup Research & Integration Co., Alucosuper New Materials Co., Boxing County Fuhong New Materials Co. Ltd., and Jiangyin Wofeng Metallic Material Co. Ltd. among others.
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