According to a new research report by Global Market Insights Inc., the Metal Coil Lamination Market size to exceed $5 billion by 2026. Increasing spending on residential structures to enhance aesthetics will escalate the market revenue throughout the forecast period.
Superior aesthetics of end-product to drive coil lamination demand
Metal coil lamination market will witness significant growth with its utilization to enhance the overall strength of the coil and provide smooth finish and aesthetic look to final product. The laminated metal provides a variety of visual aesthetics and offers multiple solutions. The laminate film provides resistance to abrasion, chemicals, wear & tear, and harsh climatic conditions as it is less likely to be breached by weather, UV rays, etc.
Growing investments in residential and commercial buildings supported by material and technological advancements are propelling the metal coil lamination market share. Rapid urbanization along with increasing disposable income in both developed and emerging countries is positively influencing the utilization of decorative interior and exterior. Improving living standards accompanied by an increasing count of hotels, educational institutions, and hospitals are escalating the furniture adoption, thereby supporting the industry growth.
Browse key industry insights spread across 223 pages with 189 market data tables & 35 figures & charts from the report, “Metal Coil Lamination Market Size By Type (Metal To Polymer Film, Metal To Metal), By Application (Appliances [Refrigerators & Freezers, Washing Machine, Dishwasher, Ovens, Fume Hood], Metal Construction [Garage Doors, Metal Roofing, Furniture], Automotive [Automotive Trim, Vehicle Light-weighting], Food & Beverage Packaging), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing canned beverages product to support metal to metal lamination growth
Rising production of canned beverages and food to enhance convenience and portability will enhance the metal to metal coil lamination demand. According to Can Manufacturers Institute (CMI), in 2018, the beverage can demand grew by over 3.5% as compared to 2017. The cans offer weight advantage over glass and are easy to carry without risk of breakage. Further, increasing adoption of additive manufacturing technologies such as laminated object manufacturing will enhance the segment penetration over the study timeframe.
Appliances to bank upon superior resistance properties
Appliances metal coil lamination market growth will witness over 4.5% CAGR over the study timeframe with utilization of lamination process in place of general finishing and coatings. The laminated coils offer lower cost solution, more consistent product, corrosion resistance, excellent robustness etc. Refrigerator wrappers, doors, and interiors are laminated to provide designer look and improve service life of the product. The demand for home appliances is anticipated to increase with technological advancements. Manufacturers of home appliances are producing innovative, connected and smart products.
Laminated film is widely used in high speed production for flexible packaging. The printing capabilities makes the final product appear more attractive and the barrier properties offers extended shelf life. Rising demand for packaged food products with shifting consumer preferences towards ready to eat food items will escalate the industry growth over the forecast time frame. Furthermore, increasing importance of packaging to avoid food adulteration and contamination will promote product adoption.
Remodeling activities to enhance North America penetration
In 2019, North America held over 11.5% share in the metal coil lamination market owing to increasing restructuring and remodeling activities. Homeowners are investing in improving the building interiors and furniture. Moreover, presence of electronic equipment manufacturers is generating the demand for metal coil lamination. The laminations are used in construction of various residential as well as commercial buildings. Multiple design and patterns offered by the films will support its adoption over the study timeframe.
Coating regulations to give impetus to market participants
Rising emission regulations for coatings to reduce pollution will increase the revenue generation for metal coil lamination market participants. The manufacturers are increasing their production capability to meet increasing demand for metal and film laminated metal coils.
The key players in the metal coil lamination Industry include Jindal Poly Films Ltd., Mitsubishi Chemical Holdings Corporation, Toyo Kohan Co., Ltd, Sika AG, Orion Profiles Ltd., American Nickeloid Company, Material Sciences Corporation, and Metacolour among others.