The coil coatings market size was valued at US$ 6.8 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2020 to 2028
Global Coil Coatings Market, By Product (Polyester, Silicone Modified Polyester [SMP], Polyvinylidene Fluorides [PVDF], Polyurethane [PU], Plastisols), By Industry (Construction, Automotive, Appliances), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The coil coatings market size was valued at US$ 6.8 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2020 to 2028.
Coil coatings can be perceived as an approach employed to paint and coat sheets of metal such as aluminum, steels, and many more. Coil coating is basically a chemical pre-processing of the exterior of the metal surface on either one side or both sides. These coil coatings are formed of silicone-modified polyester, polyester, polyvinylidene difluoride (PVDF), polyurethane, and plastisols. Coil-coated metal surfaces possess attributes such as design pliability, improved resistance to weathering and corrosion, and copious availability of textures and color. These attributes make them an exemplary option for the fabrication of wall panels, metal roofs, garage doors, and storage units to elevate the resistance and durability of the infrastructure.
In addition to that, this metal provides benefits such as greater paint adherence, excellent chemical and water resistance, improved aesthetics, and extended anti-corrosion resilience. Attributing to which, the coil coatings are witnessing heavy demand across the global markets
Other than that, another major factor which is driving the demand of coil coatings in the global market is the surge in the number of applications of coil coatings in various industries, including automotive, construction, consumer appliances and others.
In addition, by virtue of its environment-friendly nature, enormous tensile strength and fine adhesion property makes it an essential part of industrial sectors. Owing to which, the global coil coatings market is estimated to witness major breakthroughs over the forecast period.
Apart from that, rise in disposable income of consumers across the world and resulting upgradation in standard of living is further positively fueling the demand for stylish and modernistic furniture, which ultimately, is projected to accelerate the demand for coil-coated metals.
Furthermore, usage of these metals augments the aesthetics and design of home furniture and allows manufacturers for texture modifications. Attributing to which, the global coil coatings market is estimated to witness significant growth in the coming years.
MMC Study identifies some of the key participating players in the coil coatings market globally are Akzo Nobel, Henkel and Nippon Paints, Beckers Group, PPG Industries, Axalta Coating Systems LLC among others.
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