Global PET Film Coated Steel Coil Market Size

Global PET Film Coated Steel Coil Market Size

Global PET film coated steel coil market size for home appliances was valued at over 500 kilo tons in 2018 and is anticipated to witness a CAGR over 7% up to 2025.

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Positive application outlook across the home appliance industry is anticipated to drive PET film coated steel coil market. Growing environmental concerns have triggered paradigm shift towards eco-friendly and recyclable polymer materials which is expected to drive the product scope. Strong demand for energy-efficient products in line with low carbon emission will further accentuate the market growth. Recent advancement in polymer science is expected to pave way for overall market growth as home appliance manufacturers are preferring PET film coated steel coils owing to improved quality and durability.

Growing demand for advanced and innovative household appliances due to factors such as increasing disposable income, growth in the housing sector, and improved living standards are anticipated to drive the overall market share. As per industry trends, consumer durables retail market is expected to grow from USD 795 billion in 2017 to USD 1.2 trillion by 2021. Easy and instant availability of no-cost finance scheme is further anticipated to offer myriad opportunities for industry participants as sales of home appliances will increase.

Shifting preference towards steel coil over aluminium coil due to numerous advantages such as high thermal resistivity and superior strength will promulgate the overall industry growth over the forecast timeframe. Presence of a large number of steel manufacturers globally will improve supply chain cost and provide a positive business outlook for industry participants. The higher production rate of steel as compared to that of aluminium will further create new growth avenues for business expansion.

Positive changes in the regulatory and business environment are expected to foster new growth avenues for industry participants. Several initiatives taken by federal authorities including world bank for promotion of smart home programmes will propel the market growth as penetration rate of smart home appliances will increase. However, stringent regulations implemented for production and use of thermoplastic polymer may hamper the business expansion.