Global Coil Coatings Market: Overview
Coil coatings are multi-layered composite coatings of resins, pigments, and primers used for coating and painting sheets of metals such as aluminum, steel, and tin in the continuous automated line process. To resist weather and corrosion, metal substrates (majorly steel and aluminum) are roll coated and then coated strips, sheets, and rolls are molded as required. The coated metals find heavy applications in automotive fabrication, construction, and appliances.
Unlike the conventional coatings, coil coatings provide striking topcoats to metal, durable surfaces, green benefits, innovative applications, and cost benefits. Owing to these factors, various end-user industries boost the demand for coil coatings.
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Global Coil Coatings Market: Key Trends
Rapid urbanization and industrialization are the crucial factors that augment the demand for coil coatings. Coil coatings offer protection to equipment from UV radiation, pollution, grit, and variation in temperature, invariably boosting the market growth. In addition, due to its low volatile organic carbon content (VOC), several developed regions demand for coil coatings, thereby supplementing the growth of the market. Moreover, increasing non-residential construction spending worldwide is projected to drive the market.
On the contrary, expensive raw materials required for coil coatings and technology are likely to act as an obstacle for the market growth. Also, rising demand for metal substitutes such as polycarbonates that are highly engineered plastics will add to the market growth woes.
Global Coil Coatings Market: Market Potential
In a recent development, the US Patent and Trademark Office has issued a notice of allowance to NEI Corporation on two patent applications – one for an adhesion promoting surface treatment and other for a highly durable hydrophobic coating. These patents will go a long way in enhancing the company’s standing in terms of patents pertaining to abrasion resistant, self-healing, and superhydrophobic coatings. With the grant of seven patents and the introduction of coating product assortments, NEI's intensive efforts to develop and implement practical, multi-functional protective coatings are now finally bearing fruit.
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POSCO Coated & Color Steel Co. (C&C), which is involved in the manufacture and sale of coated steel sheets, will multiply its production facilities for color steel sheets. In February 2017, the company announced its decision to establish a Pohang color steel continuous coating facility with an estimated investment of 39 billion won (US$34.08 mn).
Global Coil Coatings Market: Regional Outlook
Geographically, the global coil coatings market is led by North America and this region promises to hold its dominant position over the forecast period. The key driver for this region’s growth is the upcoming non-residential construction industry post economic crises. In addition, the demand for automobiles and appliances including dishwashers, refrigerators, freezers, microwave ovens, and dryers in this region is excessively high. All of these require coil coatings, hence furthering the growth of the market.
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The strong growth of regional end-user industries has led to the market growth in Asia Pacific. Moreover, industry giants such as The Valspar Corporation, AkzoNobel, and PPG Industries, Inc. have shifted their market development efforts towards Asia Pacific in order to meet growing product demand and maximize profits in the region.
Global Coil Coatings Market: Competitive Analysis
The Dow Chemical Company, The Valspar Corporation, BASF SE, Akzo Nobel N.V., and Nippon Paint Co. Ltd are some of the leading players operating in the global coil coatings market.
The global market for coil coatings is highly consolidated. The established participants are always on a look out to improve their reach and provide solutions to global customers through strong global distribution and sales channels.
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