Global Coil Coatings Market - Segmented by Resin Type, End-User Industry, and Geography - Growth, Trends and Forecast (2018 - 2023)
The global coil coatings market is expected to register a CAGR of 5.43% during 2018 to 2023 (the forecast period). The Asia-Pacific region is estimated to lead the market, due to its leadership in the construction industry and excellence in engineering. Polyester resins are expected to be the fastest-growing market segment, by resin type.
Increasing Demand from the Building & Construction Industry
The building industry is by-far the largest consumer of coil coatings. The main resins used extensively in construction are – polyester resin, silicone modified polyester, and polyvinylidine fluorides (PVDF) or fluoropolymer. With an increasing number of building codes that promote energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run. In addition to aesthetics, durability, and functionality, coil coatings are also known for their infrared reflective pigment technology. This technology saves energy on cooling, by helping to ease the building’s interior temperature. With the consistent economic growth in Asian countries, such as India, China, Indonesia, Thailand, Malaysia, and Singapore, the demand for construction of new buildings, both commercial and residential, is consistently increasing, which, in turn, is increasing the demand for coil coatings in the Asian region. The growing use of fluoropolymer-based coil coatings in architectural applications and the growing construction sector growth rates in the United States and China are expected to drive the coil coatings market during the forecast period.
Polyester Resins - The Fastest Growing Resin type
By resin type, the demand for polyester resins is likely to continue its growth, due to its superior physical and chemical properties, such as high resistance to chemicals and high durability for interiors and exteriors of buildings and good formability. As an exterior product, basic polyesters are used for both wall and roof cladding on buildings, particularly in mild and dry climates. Many indoor applications are subject to greater scrutiny than exterior applications, so high-quality aesthetics are important, often coupled with good formability for forming into specific parts and a high degree of scratch resistance. Thus, polyester coil coatings are formulated for both interior & exterior applications and can be applied as one-coat application or basecoat or topcoat, where durability and protection from corrosion are needed.
Asia-Pacific Region to Lead the Market
China’s transport ministry and National Development and Reform Commission (NDRC) has planned to invest USD 724 billion during the period 2016-2018, to construct 303 key transportation projects including railways, highways, waterways, airports, and urban rail. Under the 13th five year plan (2016-2020), the Chinese government is planning for infrastructure development of 30,000 km of railway lines and 30,000 km of expressways. India has large number of manufacturers of HVAC equipment, which is expected to further increase during the forecast period. Currently, the HVAC industry in the India is worth over USD 3.5 billion. The Indian government has declared a target of USD 376.5 billion investment in infrastructure over a period of three years, including USD 120.5 billion for developing 27 industrial groups, and USD 75.3 billion for road, railway, and port connectivity projects. The market for coil coatings in South Korea boosted, due to the Winter Olympic Games in Pyeongchang, Gangwon province held in Feb 2018, with government to invest USD 10.8 billion to construct new stadiums and other associated infrastructure. All these factors would rapidly drive the market for coil coatings in the Asia-Pacific region in the forecast period.
Notable Developments in the Market
April 2017: Danieli Fata Hunter launched a double-coated continuous coil coating with the capacity of 250,000 metric ton of coated steel per annum. This is a 600-fpm (183 mpm) line with the processing of cold rolled, galvanized, pickled hot band, and galvalume steel coils.
Major Players: AkzoNobel, The Sherwin Williams Company PPG, Beckers Group, BASF, amongst others.
Reasons to Purchase this Report
Current and future global coil coatings market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
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