The global coil coatings market revenue was around US$ 5.29 billion in 2022 and is estimated to reach US$ 7.99 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.7% during the forecast period from 2023 to 2031.
Coil coating is an organic coating material that is applied on a rolled metal strip. It is used to coat the metals in a constant and automated process. It is used in a broad range of applications and is available in a broad variety of formulations. Coil coatings also offer a smooth finish and enhanced aesthetics along with raised durability.
Market Driving Factors
The oil and gas sector is estimated to drive the market growth. There is a discernable growth in demand for oil & gas resources across the world due to the increased demand from the aerospace and automotive industries. In addition, oil & gas is one of the primary sectors that utilize alloys and metals, mainly steel in pipelines, structures, reactors, and other equipment that are an essential part of an oil & gas plant. As a result, most of the steel products experience the coil coating method before being utilized for various applications.
The application in the electronics and electrical industries is predicted to fuel the market growth. The metals used in these applications undergo coil coating. Furthermore, the vendors in the coil coatings industry will leverage the demand for metals due to the emergence of new transformers and armatures to suffice the global electricity demand.
Fluctuations in raw material costs limit the market growth.
Regional Analysis
Asia Pacific dominated the market in terms of revenue. This can be attributed to an increase in the number of renovations and construction activities in developing economies, along with the fastest economic growth across various nations that has increased the demand for coil coatings across sectors. Additionally, government investments in different infrastructure development projects, such as bridges, roads, highways, and public transportation that need coil coatings for corrosion resistance and aesthetic enhancement have also been driving the region's growth.
North America accounted for the second largest share and is predicted to witness the highest growth rate during the forecast period. This is due to the increasing focus on energy-efficient construction materials and methods that mainly involve the use of coated materials to improve thermal performance along with the surging focus on R&D in the field of coil coatings that led to the introduction of unique and more innovative products.
Segmentation Insights
Material Type Insight
The polyester segment is estimated to dominate the market in terms of the largest market share. The growth is due to the increasing demand for exterior and interiors of pre-engineered buildings, as they provide several advantages such as chemical resistance, weather resistance, and good formability. Furthermore, polyester is also well-known to deliver superior flow characteristics in several temperatures as compared to other material types, resulting in a surge in the adoption of such materials.
Product Type Insight
The topcoats segment dominates the market in terms of the largest revenue share. This is because of the constant increase in the number of construction activities worldwide that increase the demand for coil coatings with topcoats coupled with the increasing awareness of environmental sustainability and concerns. As a result, the requirement and demand for coatings that are eco-friendly and have low emissions.
Application Insight
The steel segment dominates the market in terms of the largest revenue share. This is mainly due to the widespread use of coal-coated steel across various industries, including infrastructure and construction development and automotive, owing to its excessive water and weather resistance and greater durability. In addition, surging consumer preferences for specific colors, finishes, and textures across various applications could also increase the demand for steel-coated coil coatings with certain aesthetic properties.
The aluminum segment is estimated to dominate the market in terms of the substantial growth rate. This is due to the rising consumer awareness about its corrosion and durability resistance, which makes it a perfect and highly preferred option for multiple outdoor applications. Furthermore, aluminum coatings are good conductors of heat. It is widely used in applications needing energy efficiency to enhance the energy performance of components.
End Use Insight
The construction segment is predicted to dominate the market in terms of the highest rate during the projection period. This growth is due to the increasing urbanization and intense growth of the global population across various regions of the world that necessitates the development of new infrastructure and commercial buildings development. This factor increases the demand for coil coatings in construction applications worldwide.
Prominent Companies
Segmentation Outline
The global coil coatings market segmentation focuses on Material Type, Product Type, Application, End Use, and Region.
By Material Type
By Product Type
By Application
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL COIL COATINGS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: COIL COATINGS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL COIL COATINGS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL COIL COATINGS MARKET, BY MATERIAL TYPE
5.1 OVERVIEW
5.2 POLYESTER
5.3 EPOXY
5.4 PVC
5.5 PLASTISOLS
5.6 ACRYLIC
5.7 POLYURETHANE
5.8 PVDF
5.9 SILICONE
6 GLOBAL COIL COATINGS MARKET, BY PRODUCT TYPE
6.1 OVERVIEW
6.2 TOPCOATS
6.3 PRIMERS
6.4 BACKING COATS
6.5 OTHERS
7 GLOBAL COIL COATINGS MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 STEEL
7.3 ALUMINUM
8 GLOBAL COIL COATINGS MARKET, BY END USE
8.1 OVERVIEW
8.2 CONSTRUCTION
8.3 TRANSPORTATION
8.4 HVAC
8.5 METAL FURNITURE
8.6 OTHERS
9 GLOBAL COIL COATINGS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL COIL COATINGS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 AKZO NOBEL N.V.
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 ALCEA
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 AXALTA COATING SYSTEMS
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 BECKER GROUP
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 DURA COAT PRODUCTS INC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 EASTMAN CHEMICAL CORPORATION
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 HENKEL AG & CO. KGAA
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. HUEHOCO GMBH
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 JOTUN GROUP
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 KANSAL PAINT CO. LTD
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 NIPSEA GROUP
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 NOROO COIL COATINGS
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 PPG INDUSTRIES
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 THE CHEMOURS COMPANY
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 THE VALSPAR CORPORATION
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 TITAN COATINGS INC
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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