Coil Coating Market
New research report on the Coil Coating Market, found on the Qualiket Research website revealed a great deal about market dynamics. These dynamics influence the market growth from a very miniscule level to its holistic standard & can traverse limitations to assist the market achieve an impressive growth rate during the forecast period of 2021-2027. The report has its core developed by an extensive analysis supervised by adept analysts. Their sound knowledge & expertise in the field help in unearthing of factors as well as figures.
The global Coil Coatings market was valued at USD 5,263.14 million in 2019 and is expected to reach USD 8,438.65 million by 2027, growing at a CAGR of 6.11% from 2020 to 2027.
Coil coating is an automated and continuous process that coils the metal before fabrication. In general, one continuous metal coiling process can wind up to 72 inches wide moving up to 700 feet per minute of the metal sheet. The treatment very precisely wraps up the coil on metal, without any damage; the metal sheets are then cleaned, treated chemically, primed, oven cured twice, rewound, and packed for the shipment. Coated coil offers attractive topcoats, green benefits, durable and long-lasting surfaces, and is cost-effective. The above-mentioned factors serve to be the key pointers that increase the demand for coated coil among consumers.
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Coil coatings possess various properties such as enhanced resistance to weather & corrosion, design flexibility, and abundant availability of textures & colors. These properties make coil coating an ideal choice for the manufacturing of garage doors, metal roofs, storage units, and wall panels to improve the durability of the infrastructure.
The global coil coatings market growth is expected to boost during the forecast years, accounting for the robust growth recorded in the construction industry, increasing demand from automobile sectors, and the changing manufacturing format by home appliance manufacturers. Furthermore, the collective demand for both the commercial and residential and furniture from emerging countries coupled with the urging need for enhanced efficiency of packaging materials also aids in adding the trust to the industrial growth.
Polyester is predominately influenced by its exceptional and excellent flow characteristics and its suitability to a wide range of temperatures and applications in pre-engineered buildings. The increasing applications of polyesters in truck trailing applications, residential roofing systems, etc. are also expected to shoot the business growth to the maximum verge of profits.
The increasing development of the automotive owing to a surge in the production of motor vehicles industry across the globe is the major factor boosting the growth of global coil coating market. The growing development in the building & construction industry is also projected to propel the growth of the global coil coating market.
The increasing investments in research & development and the novel product launches by key industry players are predicted to create enormous growth opportunities in the global coil coating market.
However, the Coil Coating Market is quite fragmented and it is a tough competition which is going on, owing the presence of various established names vying for the top position. The target market is also witnessing an ingress of new entrants who are posing challenges to established names with tactical moves like product innovation & new product portfolios. Major companies are countering these challenges by having their own collaboration, merger, acquisition, and other strategies. The Coil Coating Market report is also keeping an eye on the geographies to understand demographical features.
Impact of Covid-19 on Coil Coating Market
The outbreak of coronavirus has adversely affected the coil coating industry and has brought a deep recession caused due to the effects of lockdown across the globe. As a result of the demand, the coating sector virtually collapsed for a period and still unlikely to revive from the loss. This has also resulted in the delay in the process of export of raw materials from China; thereby, affecting the production and supply chain of the global coil coating market
Key Market Players:
The leading players of the global coil coatings market include ACE Coating, Akzo Nobel N.V., Axalta Coating Systems LLC, Beckers Group, Bulk Chemicals Incorporated, Dura Coat Products, Inc., PPG Industries, Sherwin-William, Solvosol Paints Pvt. Ltd., and Toyo Ink
Coil Coating Market Segmentation:
The Coil Coating market is segmented as follows:
- Siliconized polyester
- North America
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