Global Coil Coatings Market Report and Forecast 2023-2028

Global Coil Coatings Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global coil coatings market reached a value of approximately USD 4.2 billion in 2022. Aided by the escalating demand for pre-coated metal in various end-use industries and the burgeoning growth of the construction and automotive sectors, the market is projected to further grow at a CAGR of 5.08% between 2023 and 2028 to reach a value of USD 5.7 billion by 2028.

Coil coatings are high-performance liquid paints applied on rolled metal strips or coils of steel or aluminium. These coatings are utilised in multiple industries such as construction, appliances, automotive, and packaging owing to their excellent corrosion resistance, flexibility, and decorative appeal. They offer a superior finish and consistent quality, enhancing the durability and aesthetics of metal products.

The surge in the coil coatings market development can be attributed to the rising demand for long-lasting and aesthetically appealing appliances and structures. The growing emphasis on aesthetics and durability in the construction industry, coupled with the need for corrosion-resistant automobile parts, has boosted the demand for coil coated metals. With the current trend of sustainable development, the focus has turned towards environment-friendly coil coatings, leading to a further boost in market growth.

The broadening application spectrum of coil coatings across various sectors also significantly fuels the coil coatings market expansion. In the construction industry, coil coatings are used extensively for cladding systems, roofing materials, and wall panels, thanks to their excellent weather resistance and appealing finish. The automotive industry employs these coatings to provide vehicles with corrosion resistance, thereby prolonging their lifespan. Furthermore, the appliance industry uses coil coatings to enhance the durability and aesthetic appeal of products such as refrigerators, washing machines, and air conditioners.

Moreover, the increasing demand for sustainable packaging solutions in the food and beverage sector is driving the coil coatings market growth. Coil coatings, with their superior protective properties, are an ideal choice for food and beverage packaging, ensuring the products' safety and longevity.

Additionally, advances in technology have opened up new possibilities for the coil coatings market. Innovations in coating technology, such as the development of high-performance resins and pigments, have led to the production of coil coatings with improved efficiency, durability, and environmental impact. As a result, the market has seen a growing trend towards high-performance, low-VOC, and eco-friendly coil coatings.

Market Segmentation

The market can be divided based on resin type, application, end user, and region.

Market Breakup by Resin Type

• Fluoropolymer
• Polyester
• Siliconised Polymer
• Plastisol
• Others

Market Breakup by Application

• Aluminium
• Steel
• Others

Market Breakup by End User

• Building and Construction
• Appliance
• Automotive
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global coil coatings companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Akzo Nobel N.V.
• BASF SE
• DuPont de Nemours, Inc.
• Kansai Paint Co., Ltd.
• PPG Industries, Inc.
• Beckers Group
• The Sherwin-Williams Company
• Nippon Paint Holdings Co., Ltd.
• Wacker Chemie AG
• Bulk Chemicals, Inc.,
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.