Global PET Film Coated Steel Coil Market Analysis

Global PET Film Coated Steel Coil Market Analysis

Washing machine is expected to register over 7% CAGR up to 2025 and is expected to be the fastest growing segment in the forecasted timeline. As per EU, women’s employment rate is 46% as of 2018. Hectic lifestyle schedule and large increase in number of female workers are expected to augment the demand for washing machines. The growing influence of western lifestyle coupled with continuous technological innovations in the field of home appliance is expected to support product penetration over the forecast period.

Refrigerators and freezers are expected to hold over 30% share in PET film coated steel coil market for home appliances up to 2025. Availability of energy-efficient refrigerators and widening base of nuclear families is anticipated to increase the product demand. Government’s initiatives for electrification of rural areas coupled with flexible finance schemes available in market for purchase of consumer durable items will further provide lucrative opportunities for industry participants. The soaring temperature will also play critical role in fuelling the demand for refrigerators and freezers over the forecast timeline.
 

Asia Pacific led by China, India and Japan holds the largest share in PET film coated steel coil market for home appliances accounting for over 40% up to 2025. Factors such as rapid urbanization, rising disposable income and improved standard of living have contributed to the growth of impelling market. The growing popularity of smart home appliance will further propel the market growth as consumers are experimenting with latest technology available in the market. Factors such as growing residential real estate market, digitalisation and economic recovery in emerging markets including China, India and Japan, are expected to boost the demand for home appliances.
 

The Middle East and Africa market are expected to register over 7% CAGR up to 2025. The rising disposable income and low possession rate of appliances in the region will drive the demand for white goods, propelling the demand for the home appliances PET film coated steel coil market. E-commerce is expected to accelerate the demand for home appliances as it is becoming a fastest-growing retail channel due to increased connectivity and adoption of digital lifestyle by consumers. Moreover, rising production activities in the Middle East owing to rapid industrialization and benefits of one-belt and one-route will provide lucrative opportunities for manufacturers over the forecast time frame.