Coiling Coatings Market
Coil Coatings Market Size, Share & Industry Analysis, By Resin Type (Polyester, Fluoropolymer, Polyvinylidene Fluoride (PVDF), Polyurethane, Epoxy, Others), By Application (Steel, Aluminum), By End-Use Industry (Building & Construction, Appliances, Automotive, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Market Overview"
The Coil Coatings Market is projected to grow at a CAGR of 5.2% from 2024 to 2031. The market value is expected to rise from USD XX billion in 2024 to USD YY billion by 2031. Asia-Pacific currently dominates the market, accounting for the largest share of global revenue. Key metrics include growth in the construction industry, increasing demand for durable and aesthetically pleasing metal products, and advancements in coating technologies.
The market is growing steadily, owing to the expanding construction sector, particularly in emerging nations, increased demand for energy-efficient buildings, and the growing use of pre-painted metals in numerous industries. The drive towards sustainable and environmentally friendly coating options is also influencing market dynamics.
Coil Coatings Market Dynamics:
Market Trend: Shift towards environmentally friendly and sustainable coatings
There is a growing tendency in the coil coatings industry for more ecologically friendly and sustainable materials. This trend is being pushed by increased environmental restrictions, consumer awareness, and corporate sustainability objectives. Manufacturers are creating low-VOC (Volatile Organic Compound) and chromate-free coatings to suit these demands.
For example, a leading coatings producer recently introduced a new range of bio-based coil coatings that employ up to 25% renewable raw resources, decreasing the product's carbon footprint while maintaining performance. This innovation has been highly embraced in the market, particularly by environmentally concerned customers and industries working to satisfy sustainability goals.
Market Driver: Rapid urbanization and infrastructure development in emerging economies
The high pace of urbanisation and infrastructure development in emerging nations, particularly Asia-Pacific and Latin America, is a key driver of the coil coatings market. The development of new residential and commercial structures, as well as the growth of industrial facilities, are driving up demand for pre-painted metal products.
According to the United Nations, 68% of the global population is expected to reside in cities by 2050, up from 55% in 2018. This urbanisation trend is especially prevalent in poorer countries. For example, China's urbanisation rate is predicted to reach 70% by 2030, resulting in significant demand for construction materials such as coil-coated metals.
The automotive industry, another major user of coil coatings, is also developing in these areas. For example, India's automotive industry is predicted to increase at a 12% CAGR between 2021 and 2026, driving up demand for coil coatings in this sector.
Market Restraint: Volatility in raw material prices
One of the most significant issues facing the coil coatings market is the volatility of raw material pricing. The pricing of important materials including resins, pigments, and solvents fluctuate due to factors such as crude oil prices, supply chain interruptions, and geopolitical events.
For example, the COVID-19 epidemic created global supply chain disruptions, resulting in large price rises for several raw materials used in coatings. According to industry experts, the price of epoxy resins rose by more than 60% in 2021 compared to the previous year.
This price fluctuation might have an influence on coil coating manufacturers' profit margins and cause price hikes for end users, thereby impeding market growth. Approximately 20-30% of coating manufacturers have difficulty maintaining consistent pricing owing to raw material price changes.
Segment Overview:
Polyester segment dominates the Coil Coatings market:
The polyester category currently has the biggest market share in the coil coatings business. This supremacy is partly due to the great mix of performance and cost-effectiveness that polyester coatings provide, making them appropriate for a wide range of uses.
Polyester coil coatings are commonly used in the building and construction industries for roofing, wall panels and other outside applications. They have good weatherability, colour retention, and flexibility, which are important characteristics for these applications. The expanding construction industry, particularly in emerging economies, is a major element driving demand for polyester coil coatings.
According to industry experts, the global construction sector is predicted to reach $15.2 trillion by 2030, with strong development in Asia-Pacific and Africa. This expansion is projected to drive up demand for polyester coil coatings in the future years.
Furthermore, polyester coatings are extensively used in the appliance business. Recent advances in polyester coatings have focused on increasing durability and environmental friendliness. For example, a large coatings producer recently launched a new range of super-durable polyester coatings with better gloss retention and weather resistance, broadening the coatings' potential uses in high-performance industries.
Regional Outlook
Asia-Pacific leads the Coil Coatings market:
The Asia-Pacific region currently dominates the global Coil Coatings market, accounting for the vast majority of sales. This leadership position is due to a number of factors, including growing industrialisation, urbanisation, and large investments in regional infrastructure.
China, India, and Southeast Asian countries are major drivers of market expansion in this area. These countries are undergoing a construction boom, which is increasing the need for coil-coated metals for building facades, roofing, and other architectural applications.
In China, the government's emphasis on sustainable urban development and energy-efficient structures is increasing demand for high-performance coil coatings. The country's 14th Five-Year Plan (2021-2025) focusses on green development, which is projected to accelerate the adoption of sophisticated coil coating technology.
India's coil coatings industry is also expanding rapidly, owing to government efforts such as "Housing for All" and the development of smart cities. According to our analysis, the Indian construction industry would develop at a 7.1% CAGR between 2024 and 2031, indicating a good future for coil coatings.
The automotive sector in Asia-Pacific, particularly in Japan, South Korea, and, increasingly, India, is a major consumer of coil coatings. The region's increasing automotive output, combined with a trend towards lighter and more fuel-efficient vehicles, is driving demand for innovative coil coatings in this industry.
Furthermore, Asia-Pacific's appliance business is quickly developing, driven by rising disposable incomes and shifting lifestyles. China, South Korea, and India are important home appliance manufacturers, resulting in high demand for coil coatings in this sector.
Recent advancements in the Asia-Pacific market have included increased R&D investments in the development of eco-friendly coatings. For example, a leading Japanese coatings company recently introduced a new range of coil coatings with improved corrosion resistance and lower environmental impact, expressly to meet the region's growing demand for sustainable building materials.
Competitive Intelligence:
The Coil Coatings market is characterised by the presence of numerous global and regional manufacturers. To preserve their market positions and extend their product portfolios, key corporations prioritise product innovation, strategic partnerships, and mergers and acquisitions.
Leading firms in the field include AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, BASF SE, and Nippon Paint Holdings Co., Ltd. These companies have established themselves as market leaders by combining diverse product portfolios, robust R&D skills, and huge distribution networks.
AkzoNobel N.V., for example, has maintained its market leadership through ongoing innovation and strategic acquisitions. In 2021, the company's Coil and Extrusion Coatings division, part of the Performance Coatings segment, generated €1,396 million in revenue. AkzoNobel has been working to develop sustainable coatings solutions and extend its footprint in emerging areas.
PPG Industries, Inc. has used its technological knowledge to provide novel coil coating solutions. The company's Performance Coatings sector, which includes coil coatings, had net sales of $9.4 billion in 2021. PPG has been investing in coatings with improved durability and energy-saving qualities to meet the growing demand for sustainable construction materials.
Sherwin-Williams has improved its position in the coil coatings business by making strategic acquisitions and developing new products. The company's Performance Coatings Group, which includes coil coatings, had net sales of $5.8 billion in 2021. Sherwin-Williams has been focussing on developing high-performance coatings for harsh settings, as well as expanding its colour and design options.
Mergers and acquisitions have significantly influenced the competitive landscape. Nippon Paint Holdings Co., Ltd., for example, has increased its global position through a series of acquisitions, including Dunn-Edwards Corporation in the United States and DuluxGroup in Australia.
Looking ahead, the competitive landscape is projected to be driven by rising demand for environmentally friendly coatings, technological advances in coating formulations, and the growing role of coatings in improving building energy efficiency. Companies that can effectively address these developments while remaining cost competitive stand to earn a considerable market edge.
Analyst Opinion:
The coil coatings market is expected to rise steadily in the coming years, fuelled by rising demand from the construction and automotive industries, particularly in emerging nations. The market's growth is directly linked to developments in sustainable building practices, energy efficiency, and technological breakthroughs in coating formulations.
One of the most intriguing advances in the industry is the increased emphasis on multifunctional coatings. As consumers and industries expect more from their materials, coil coating manufacturers are developing products that not only provide protection and aesthetics, but also include self-cleaning properties, improved solar reflectance, and even air-purifying capabilities. This move towards "smart" coatings provides a substantial opportunity for industry innovation and distinction.
Another area with tremendous potential is the creation of coatings that improve building energy efficiency. With a growing emphasis on minimising the carbon footprint of the built environment, coatings that improve the thermal performance of building envelopes are anticipated to find increased demand. This includes cool roof coatings that deflect solar radiation, as well as coatings with better insulating qualities.
The shift to circular economy concepts is anticipated to have an impact on the coil coatings business. There is a rising interest in producing coatings that enable the recycling of metal substrates at the end of their life cycle. Coatings that can be easily removed from metal during the recycling process, as well as those created from bio-based materials, are expected to gain popularity in the future years.
However, the market confronts obstacles, particularly in the form of volatile raw material prices and severe environmental laws. Manufacturers must engage in R&D to create cost-effective, high-performance coatings that fulfil increasingly stringent environmental criteria.
The continuous digitalisation of the coatings business creates opportunities and difficulties. Digital technologies for colour matching, performance prediction, and process optimisation are becoming increasingly significant. Companies who can effectively use these technologies to improve product development and customer service stand to gain a competitive advantage.
Overall, the coil coatings market is at a pivotal point, with enormous prospects for innovation and expansion. Success in this industry will be determined by a company's ability to anticipate and respond to changing customer needs, traverse complicated regulatory environments, and effectively balance performance, cost, and sustainability in product offerings.
Major Players:
-
AkzoNobel N.V.
-
PPG Industries, Inc.
-
The Sherwin-Williams Company
-
BASF SE
-
Nippon Paint Holdings Co., Ltd.
-
Valspar Corporation
-
Beckers Group
-
Kansai Paint Co., Ltd.
-
DuPont de Nemours, Inc.
-
Axalta Coating Systems Ltd.
Key Developments:
-
September 2023: AkzoNobel N.V. introduces a new range of bio-based coil coatings, utilising renewable raw ingredients to minimise the carbon impact of its products without sacrificing performance.
-
July 2023: PPG Industries, Inc. established a strategic agreement with a top solar panel producer to provide specialised coatings that improve solar module efficiency and longevity.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. AkzoNobel N.V.
5.2. PPG Industries, Inc.
5.3. The Sherwin-Williams Company
5.4. BASF SE
5.5. Nippon Paint Holdings Co., Ltd.
5.6. Valspar Corporation
5.7. Beckers Group
5.8. Kansai Paint Co., Ltd.
5.9. DuPont de Nemours, Inc.
5.10. Axalta Coating Systems Ltd. (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Shift towards environmentally friendly and sustainable coatings
6.1.2. Growing emphasis on multi-functional coatings
6.1.3. Increasing adoption of digital tools in coatings industry
6.2. Market Drivers
6.2.1. Rapid urbanization and infrastructure development in emerging economies
6.2.2. Rising demand for energy-efficient buildings
6.2.3. Expanding automotive and appliance industries
6.3. Market Restraints
6.3.1. Volatility in raw material prices
6.3.2. Stringent environmental regulations
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY RESIN TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Polyester
7.2. Fluoropolymer
7.3. Polyvinylidene Fluoride (PVDF)
7.4. Polyurethane
7.5. Epoxy
7.6. Others
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Steel
8.2. Aluminum
9. BY END-USE INDUSTRY (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Building & Construction
9.2. Appliances
9.3. Automotive
9.4. Others
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Resin Type:
-
Polyester
-
Fluoropolymer
-
Polyvinylidene Fluoride (PVDF)
-
Polyurethane
-
Epoxy
-
Others
By Application:
-
Steel
-
Aluminum
By End-Use Industry:
-
Building & Construction
-
Appliances
-
Automotive
-
Others
By Region:
-
North America
-
Europe
-
Asia-Pacific
-
Latin America
-
Middle East & Africa
Frequently Asked Questions
We at Aurorawave Intellects Market Report gives total market analysis that suit our customer business need and permit decision maker to run organizations without any problem. We have accomplished greatness in giving start to finish market research arrangements. Our detachment of industry specialists accumulate key data and get ready substance that lines up with our customer's business/specialty.
We at aurorawaveintellects.com offer mainly 3 types of licenses:
• Single User: Research Report copy can be distributed to a single user only
• Multi User: Research Report distribution is restricted up to 5 users.
• Corporate License :Research Report can be distributed across the company.
Based on the nature of the topic or research, the formats vary. The different formats of the report are as following:
• Word Document
• PPT
Following modes are available for making the payment:
• Online Payment (Visa Card, Master Card, Stripe)
• Razorpay
• Net Banking
• Bank Wire Transfer
Our customer service and research specialist team are available by phone and by email. Customer service hours are 24X7 Indian Standard Time (IST). You may reach us at:
• Email: info@aurorawaveintellects.com
• United Kingdom: ++91 7382742511