Technical coil coating is a process in which a coating material is applied on the metal strip in a continuous process. The technical coil coating process involves chemical pre-treatment of the metal surface on either one side or both the sides. The process is used in many industries like construction, transportation, furniture etc. A new research report by Future Market Insights titled “Technical Coil Coatings Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027” forecasts that the global technical coil coatings market is expected witness a steady growth with a CAGR of 4.7% during the study period 2017 – 2027. According to the report, the global market for technical coil coatings is anticipated to reach a market value of over US$ 2,100 Mn by the end of 2027. APEJ and MEA are expected to hold a significant market potential in the global technical coil coatings market. Manufacturers are also expected to bring in to the market several latest technologies such as water based products, e-coatings and UV primers. These are radiation curable paint systems, which are expected to appeal to the masses and bring profits for businesses.
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Global Technical Coil Coatings Market: Drivers
An exceptional increase in the demand for corrosion free products has helped further the revenue growth of the global technical coil coatings market. The rise in demand for high-quality products to be used in the manufacturing of various consumer durable goods as well as in the electricity and power sector is being witnessed. People are also demanding more of finished goods for domestic as well as commercial use. There is also an increase in investments in the coatings market. All these factors have highly contributed to the growth of the global technical coil coatings market. Companies are even increasing local manufacturing to strengthen their presence in the regional market. Most of the companies enter the market with support from local suppliers. These companies later strengthen their presence by strategically acquiring local partners/suppliers in the region.
Global Technical Coil Coatings Market: Segmental Analysis
- Among the various regional markets, Asia Pacific Excluding Japan is expected to witness the fastest growth. The region is also anticipated to hold the largest market share with a valuation of over US$ 700 Mn by the end of 2027
- In terms of product type, both top coats and primers are expected to turn out to be the most attractive segments with the fastest growth rate during the forecast period
- On the basis of material type, polyester is the dominating segment in the global market, with an estimated market share of over US$ 1,600 Mn by the end of 2027
- Based on application, steel is the dominant segment with a projected market value of over US$ 1,700 Mn by the end of 2027. The steel market is expected to grow at a CAGR of 4.8% during the forecast period
- On the basis of end user, the body panel segment is likely to hold maximum market value share and growth rate during the forecast period
Global Technical Coil Coatings Market: Competitive Analysis
According to the research report, the top four players/manufacturers account for around 30% – 33% of the overall market share. The report comprises a brief profile of all the major players in the industry. These profiles depict the current and future strategies of all the businesses involved in this market. The research also lists the top five players in the global technical coil coatings market – Akzo Nobel N.V., Beckers Group, Axalta Coating Systems Ltd, PPG, Industries Inc. and The Valspar Corporation. Some of the other players profiled in this report include Nipsea Group, Kansai Paint Co., Henkel AG & Co. KGaA, The Chemours Company, and Axalta Coating Systems Ltd.