The Future of Coatings: Technical Coil Market to Reach US$ 13.0 Billion by 2027

The technical coil coatings market is anticipated to reach US$ 10.3 billion in sales by 2022. The market is estimated to reach US$ 13.0 billion by 2027, with a 4.9% CAGR.

Technical coil coating is a continuous process in which a coating substance is applied to a metal strip. The technical coil coating process begins with a chemical pre-treatment of the metal surface on one or both sides. The method is employed in a variety of industries, including building, transportation, and furniture.

In the worldwide technical coil coatings market, APEJ and MEA are predicted to have significant market potential. Manufacturers are also expected to introduce new technologies such as water-based solutions, e-coatings, and UV primers to the market. These are radiation curable paint solutions that are supposed to appeal to the general public while also generating income for corporations.

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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

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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.

Top Key player in the Global Market

• Axalta Coating Systems
• Akzo Nobel N.V, PPG Industries
• The Valspar Corporation
• The Chemours Company
• Henkel AG & Co. KGaA
• Kansai Paint Co. Ltd.
• Eastman Chemical Company
• NOROO Coil Coatings Co., Ltd
• Becker Group
• ALCEA
• Dura Coat Products, Inc.
• Italcoat S.r.l.

KeySegmentation:

By Material Type

• Polyester
• Epoxy
• PVC/Vinyl
• Plastisols
• Acrylic
• Polyurethane
• PVDF
• Silicone

By Product Type

• Topcoats
• Primers
• Backing Coats
• Others

By End Use

• Transportation
• Consumer Durable Goods
• HVAC
• Metal Furniture
• Others