Global Coil Coatings Market 2016-2020
About Coil Coatings
Coil coatings, also called prepainted metal coatings, are used to coat metal surfaces before they are made into end products. They are eco-friendly, cause minimal volatile organic carbon (VOC) emissions, do not consume a lot of energy, and result in limited waste. They have many advantages over post-painted metal coatings, such as corrosion protection and long-term aesthetic value.
Technavio’s analysts forecast the global coil coatings market to grow at a CAGR of 6.52% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global coil coatings market for 2016-2020. To calculate the market size, the report considers the revenue generated through sales of coil coatings products for end-use industries, such as building and construction, automotive, appliance, and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Coil Coatings Market 2016-2020report title
Technavio recognizes the following companies as the key players in the global coil coatings market: AkzoNobel, Axalta Coating Systems, BASF, Beckers, and PPG Industries.
Other prominent vendors in the market are: Henkel, Kansai Paint, Valspar, and Wacker Chemie.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is growing demand for premium paints among consumers. An increase in consumer spending on home improvement and remodeling projects is the key factors providing growth impetus for the consumption of paints and coatings by the residential end-user segment. The demand form do-it-yourself (DIY) consumers is particularly high in western economies, with organized big box retailers catering to this demand. However, in a few non-western and developing economies, DIY projects are yet to gain prominence. Lack of consumer confidence in the fragmented retail industry in emerging economies is a major factor affecting the DIY industry in these economies.”
According to the report, one of the primary drivers in the market is growing demand from downstream industries. The rise of the downstream industries is the key driver of the coil coatings market. The refrigerator market is one of the chief downstream industries of the global coil coatings market in the appliance sector. The refrigerator sales in APAC have maintained steady growth in the past few years. India and China are the key production hubs of refrigerators due to huge domestic demand and low production costs. The great demand from such downstream industries has driven the market for coil coatings. For instance, Indian refrigeration industry is anticipated to be around $3.6 billion by 2020.
Further, the report states that one major challenge in the market is fluctuating raw material prices. The fluctuating cost of raw materials used for the manufacture of coatings and paints is a major challenge for the global coil coatings market. The price of raw materials such as polymers and resins has been fluctuating since 2005. For instance, titanium dioxide prices rose in 2012 to almost $4,250 per metric ton and declined in 2014 to $2,900 per metric ton. Titanium dioxide is considered the most important pigment. It has exceptional light scattering property and also, maintains its whiteness when wet. Pigments account for one-third of the total paint cost. Thus, the fluctuation in titanium dioxide prices affects the production cost to a larger extent.
AkzoNobel, Axalta Coating Systems, BASF, Beckers, PPG Industries, Henkel, Kansai Paint, Valspar, Wacker Chemie.