Coil Coatings Market Size By Product (Polyester, Silicone Modified Polyester, Polyvinylidine Fluorides (PVDF), Polyurethane (PU), Plastisols), By End-user (Construction, Automotive, Appliances), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Published Date: Nov 2016  |  Report ID: GMI839  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 140   |   Base Year: 2015

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Coil Coatings Market size was USD 4.27 billion in 2015, and is projected to see 6% CAGR by 2024.

U.S Coil Coatings Market size, by end-user, 2013-2024 (USD Million)
U.S Coil Coatings Market size, by end-user, 2013-2024 (USD Million)

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Global coil coatings market size is mainly driven by escalating growth in the construction sector, particularly the non-residential construction. The global non-residential construction expenditure was close to USD 3.5 trillion in 2015 and is forecast to reach USD 5.5 trillion over the projected timeframe owing to stimulate industry growth. The product is extensively used in non-residential construction including large commercial buildings, industrial sites, and factories, as it offers weather and corrosion resistance for longevity along with aesthetic finish to metals used on roofs, walls, and shades.

Rapid industrial development, urbanization, stable political scenario, increasing per capita income and purchase power parity, and disposable income are some of the primary factors influencing growth in Asian countries. Currently, average annual GDP growth in Asia ranges from 6.0% to 7.0%. Countries in Asia Pacific, especially China, India and Indonesia are some of the fastest developing economies in the world. These countries are undergoing rapid industrial development and urbanization. This stimulates end-use industries including appliances, automotive, and construction, thereby driving the coil coatings market size.

European debt crises severely affected industries including construction, automotive and appliances. Cash inflows have been declining due to reluctance of capital lenders to invest in this region. This has led to a decrease in business. These industries are primary end-users of the industry. Hence, lack of investments in the region may hamper coil coatings market size over the forecast timeframe. However, increasing reach of the appliances industry in remote markets is consequently boosting the product demand. For example, the population in the Middle East has high purchase power parity and can afford premium range appliances. Appliances require coil coated metals to improve aesthetic appeal. This is anticipated to propel the product demand and created new growth prospects for the industry participants.

Coil Coatings Market Report Coverage
Report Coverage Details
Base Year: 2015
Historical Data for: 2013 to 2015 Forecast Period: 2016 to 2024
Pages: 140 Tables, Charts & Figures: 165
Geographies covered (17): U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC
Segments covered: Product, Polyurethane, Plastisols, End-user and Region
Companies covered (11): BASF SE, Akzo Nobel N.V., The Valspar Corporation, PPG Industries Inc., Beckers Group, Dura Coat Products, Inc., Henkel AG & Co. KGaA, The Dow Chemical Company, Bulk Chemicals Incorporated, Nippon Paint Co. Ltd., Axalta Coating Systems LLC

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Coil Coatings Market, By Product

Polyester coil coatings market share is projected to expand at over 6% CAGR over the forecast timeframe. Polyester is one of the most widely used product in the industry as it offers excellent corrosion and weather resistance to the coated material in most conditions. Additionally, polyester is one of the low-priced product owing to elevate the industry growth by 2024.

Polyvinylidine Fluorides (PVDF) segment was valued at over USD 800 million in 2015. PVDF is an expensive coil coating that is widely used for outdoor construction as it suitable for harsh climatic conditions. It also offers good esthetic appeal along with longevity to the coated surface through superior corrosion and weather resistance.

Coil Coatings Market, By End User

Construction coil coatings market size will witness more than 5% growth in terms of volume. The product is broadly used in wall panels, metal roofs to provide anti-corrosive & weather resistant characteristics. It also helps in enhancing the esthetic appearance of roof, owing to boost business growth. In addition, increasing government construction spending to improve public infrastructure will consequently propel the industry growth.

Automotive market size was valued at over USD 450 million in 2015. Metal and steel are extensively used in the vehicles to provide structural strength. This leads to increasing product demand across automobile parts including bumpers fuel tanks and body panels.

Coil Coatings Market, By Region

North America, mainly led by the U.S. coil coatings market size generated revenue more than USD 900 million in 2015. The upcoming non-residential construction industry post economic downturn has significantly increased product demand in the region. The region is one the most prominent user of automobiles and appliances including dishwasher’s, refrigerators, freezers, microwave ovens and dryers. These appliances essentially require coil coatings owing to boost regional industry.

Asia Pacific, particularly led by India, Japan and China coil coating market, dominated the overall revenue scenario size in 2015, mainly attributed to the robust growth in the regional end user industries. Furthermore, most of the industry including AkzoNobel, The Valspar Corporation and PPG Industries, Inc have shifted market development efforts toward Asia Pacific to maximize profits and to meet the growing product demand in the region.

Competitive Market share

Global coil coatings market share is consolidated, with key players accounting for more than 50% of the total consumption in 2015. Key players of the industry including BASF SE, The Dow Chemical Company, The Valspar Corporation, and Akzo Nobel N.V. are vertically integrated. Integration allows key players to offer higher value at competitive costs. This further adds to the degree of competition. For instance, Dow Chemical Company, BASF SE, Akzo Nobel N.V. and Nippon Paint Co. Ltd. manufacture resins, pigments, solvents, and primers.

Most of the major market players establish strong global distribution and sales channels to enhance reach and offer solutions to customers across the world. A strong distribution channel ensures two important success factors: availability of products and good customer service.

Coil Coatings Industry Background

Coil coatings are multi layered composite coatings of pigments, resins and primers used over metal rolls. Metal substrates (mainly aluminum and steel) are roll coated to make them weather and corrosion resistant. Coated rolls, strips and sheets are then molded as per requirement. The coated metals are then extensively used in the construction, automotive fabrication and appliances.

Growing non-residential construction spending across the globe is anticipated to drive the global coil coatings market size by 2024. Increase in non-residential construction activities has been triggered by rising industrial development and urbanization. Additionally, fast growing countries in Asia are projected to be the major growth prospect. However, decline in demand for coil coatings in Europe owing to the severe economic crisis is likely to hamper industry growth.

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