Functional Coil Coating Market growth is driven by increase in application of textured metals in furniture and construction industry. The demand for functional coil coated metal among furniture manufacturers has drastically increased owing to increasing purchasing power parity of consumers. Allied Market Research (AMR) has published a new report on Functional Coil Coatings Market to grow 4.8% CAGR over 2018 – 2025.
The research offers a detailed segmentation of the global functional coil coating market. Key segments analyzed in the research include type, process, shell material, application, end user and geography. Extensive analysis of sales, revenue, growth rate, and market share of each type, process, shell material, application and end user for the historic period and the forecast period is offered with the help of tables.
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The functional coil coating market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
Key Findings of the Functional Coil Coatings Market:
- Asia-Pacific and LAMEA segments in the backing coats functional coil coatings market are expected to witness significant growth rates at a CAGR of 6.1% and 5.0%, respectively, during the forecast period.
- The powder coating functional coil coating market is projected to reach $177.9 million by 2024.
- Europe functional coil coatings market accounted for around 28% of share in 2017.
- The UK functional coil coating market was valued at $8.2 million in 2017, and is projected to register a CAGR of 3.8% from 2018 to 2024.
The global functional coil coatings market has witnessed a significant growth in end-user industries. Functional coil coated metals are widely applicable in these industries, owing to the elimination of the cost required for setting up coating plant and quick availability of the pre-coated metals. Moreover, upsurge in demand for texturization of pre-coated metal boosts the growth of the functional coil coatings market.
Some of the key players in the functional coil coatings market include KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries.
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In addition to, consumers changing demand for designs and aesthetics of home appliances has increased the use of pre-coated metal in home appliances industry which is further spurring the global functional coil coatings market. Use of organic ingredients and recycling of the waste and coating tools is expected to drive the functional coil coatings market growth in the near future.
Functional Coil Coating Market By End User
- Automobile Industry
Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include Celanese Corporation. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the functional coil coatings market.
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.