Coil Coatings Market Analysis

Coil Coatings Market Analysis

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Based on product, the coil coatings market size from the polyester segment is expected to record a valuation of over USD 3.7 billion by 2032. Polyester coatings are available in a wide variety of industry popular colors and can be used for external long-life use on construction site coverings, and agricultural and rural buildings. These coatings provide excellent resistance to sun, stain, and scratch and have superior adhesion strength and flexibility, making them ideal for outdoor environments. They can even coat areas that are difficult to coat such as tight angles and hidden surfaces. They are also smooth and do not re-melt when exposed to high temperatures.

Based on end-user, the coil coatings market from construction segment is poised to grow beyond USD 5 billion by 2032, driven by the expanding real estate sector across the globe. the top 100 construction companies witnessed a 14.1% growth in total revenue in 2021, while their market capitalization increased by 13.3%. The sector is witnessing robust expansion due to the implementation of stricter building codes, which recognize painting steel and aluminum with powder coating as the most environmentally sustainable approach.

Coil coatings can also strengthen any external building components owing to their superior resistance to corrosive nature of pre-painted metals. They also make stamping of coil-coated metals into shapes such as roof covers, and entry doors relatively easier.

From the regional perspective, Asia Pacific coil coatings market is anticipated to grow at over 5% CAGR through 2023 - 2032, on account of India’s rapidly expanding construction sector. According to the National Investment Promotion and Facilitation Agency, the country’s construction industry is set to reach a valuation of USD 1.4 trillion by 2025. Such a strong regional growth is being spurred by the Indian government’s substantial investments in infrastructure projects.