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.
The global technical coil coatings market is expected to witness substantial growth, with sales reaching over US$ 10.3 billion in 2022 and projected to further expand at a robust CAGR of 4.9% to reach US$ 13.0 billion by 2027. This growth trajectory reflects increasing demand driven by the construction and automotive industries, coupled with advancements in coating technologies. Factors such as rising urbanization, infrastructure development, and the emphasis on sustainable solutions are anticipated to fuel market growth over the forecast period, positioning the technical coil coatings market for significant opportunities and expansion.
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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
Technical Coil Coatings Market: Key Players
- 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.
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Market Segmentation:
By Material Type
- Polyester
- Epoxy
- PVC/Vinyl
- Plastisols
- Acrylic
- Polyurethane
- PVDF
- Silicone
By Product Type
- Topcoats
- Primers
- Backing Coats
- Others
By Technology
- Liquid Coating
- Water Borne
- Solvent Based
- Powder Coating
By End Use
- Transportation
- Consumer Durable Goods
- HVAC
- Metal Furniture
- Others
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