Rising Demand For Construction And Building Industry To Boost The Coil Coating Market Growth

Coil Coating Market
Coil Coating Market

The Coil Coating Market is segmented by Resin Type (Polyester, Polyvinylidene Fluorides (PVDF), Polyurethane (PU), Plastisols, and Other Resin Types), End-user Industry (Building and Construction, Industrial and Domestic Appliances, Transportation, Furniture, and Other End-user Industries), and and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa) Size, Share, Outlook, and Opportunity Analysis, 2023-2030

The global Coil Coating Market is estimated to be valued at reach US$ 5.0 Billion in 2022 and is expected to exhibit a CAGR of 4.7 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Coil Coatings is the procedure that has been over for many years and it permits the organizations to generate the durable and attractive goods and products. The procedure of the Coil Coatings ensures the producers a method to paint the metal whereas it is still in the form of sheets. The initial and first Coil Coatings was installed and started in the 1930’s by the Founder of Hunter Engineering Joseph Hunter. He utilized this procedure to paint the venetian blinds as a continuous strip. Post that the Hunter Engineering went to modify and then built additional coatings.

Competitive Landscape:

Key players involved in the growth of global Coil Coating Market are Beckers Group, AkzoNobel, Solvay SA, PPG Industries, and the Sherwin Williams Company.

Market Key Drivers:

Rising demand for construction and building industry is expected to augment the growth of global Coil Coating for market. For instance, as per the Department of Energy (DOE), heating and cooling prices account for 48% of the energy usage in a typical US houses.

The rise in automotive industry is projected to drive the growth of global Coil Coating Market. For instance, as per OICA, around 91 million vehicles were produced in 2018.

Covid-19 Impact Analysis:

The Covid-19 outbreak had adversely affected the growth of global coconut coir market due to the imposition of strict lockdown policies. The rise in the pandemic cases led to the closure of manufacturing and production units, the disruption in supply chain and halt in supply of raw materials due to the restriction on transportation has impeded the market growth.

The Technical Coil Coatings Market is expanding as a result of rising consumer demand for corrosion-free goods. Also, rising demand from numerous industries, including the construction and automotive sectors, has further fueled the expansion of the global market for technical coil coatings.

Key Takeaways:

The global Coil Coating Market is anticipated to exhibit a CAGR at higher rate during the forecast period due to rising acquisitions and mergers. For instance, on May 2022, Blue stone and Cornerstone Building Brands Inc., entered an acquisition for US$ 500 Million.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Coil Coating for market due to rising construction industry, rising need of automotive sector, rising mergers and collaborators. For instance, as per the prediction of the Asian Development Bank, China will invest around US$ 1.7 trillion, every year, till 2030, to fulfil its infrastructure requirements.

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