Coil Coatings Market size to exceed $4.5bn by 2026
Published Date: December 18, 2019 Authors: Kiran Pulidindi, Hemant Pandey
Coil Coatings Market size is set to exceed USD 4.5 billion by 2026; according to a new research report by Global Market Insights, Inc.
Automotive industry to support product adoption
Automotive sector is one of the key consumers of coil coatings industry. Around 300 vehicle parts utilize decorative and protective coatings. It enables the vehicle part manufacturers to provide protection from corrosion for flange sections or inaccessible cavities. Further, the coil coatings provide various benefits such as improving productivity, reducing costs, improving quality. The growing technological advancements in the automotive sector is anticipated to support the industry size over the study timeframe. Moreover, it reduces environmental concerns as compared to other coating that will escalate the coil coatings industry outlook.
Browse key industry insights spread across 140 pages with 150 market data tables & 11 figures & charts from the report, “Coil Coatings Market Share By Product (Polyester, Silicone Modified Polyester (SMP), Polyvinylidine Fluorides (PVDF), Polyurethane (PU), Plastisols), By End User Industry (Construction, Automotive, Appliances) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Polyvinylidene fluoride to bank upon high resistance properties
High resistance against adverse environment conditions will drive the PVDF penetration. Polyvinylidene fluoride will foresee around 6% CAGR over the study timeframe. Humidity, smog, acid rain, extreme UV rays have quite low effect on the coil coatings. PVDF is a non-reactive fluoropolymer and is produced by polymerizing vinylidene difluoride. It is generally used in areas that require extreme purity and solvent resistance. Metal structures using PVDF coatings tend to retain their gloss and original color for a longer period. Such benefits will support the coil coatings market expansion.
Packaging industry to support market proliferation
Food and beverage industry utilize the coatings to provide a hygienic and safe packaging to materials inside metal cans and bottles. Food and beverage canning allow preservation for a longer period along with maintaining the nutritional values as well as taste of the product. The coatings prevent unwanted reaction between the metal and food to ensure the food integrity as it may result in cloudiness of food or beverages.
Construction investment to influence coil coatings demand in North America
In 2018, North America accounted for over 20% share in the coil coatings market owing to the prevailing construction sector. The U.S construction sector has been following a consistent growth by adding continuous workforce in the sector. In 2018, the Canada construction industry reached around USD 290 billion with supporting government investments in infrastructure. Residential construction is the largest sector in the country accounting for a share of around 40% in the total value. Growing construction activities and government support is uplifting industry growth across the globe.
Manufactures undergoing portfolio expansion to gain competitive edge
In December 2016, PPG Industries, introduced an advanced silicone-modified polyester (SMP) coatings formulation having infrared-reflective pigments named as DURASTAR and ULTRA-COOL coatings in order to improve the service life and aesthetics of metal roofing, panels, siding and many other building components. The key manufactures in global coil coatings market includes Akzo Nobel, PPG, Henkel AG & Co. KGaA, Backers Group and Axalta Coating Systems among others.
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