Category

Coil Coatings Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Resin Type Resin (Polyester Resins, Plastisol Resins, Siliconized Polyester Resins, Fluoropolymer Resins), By End User Industry (Automotive, Appliance, Building And Construction), And By Geography - Forecasts From 2021 To 2026

Published: Jul 2021 | Report Code:  KSI061610696 | Pages:  122

The global Coil Coatings market is expected to grow at a compound annual growth rate of 5.91% over the forecast period to reach a market size of US$9.837 billion in 2026 from US$6.580 billion in 2019. 

The market is expected to surge in the coming years, due to the increasing demand for coil coatings in various sectors, such as the construction, automotive, appliance, and construction industry. Asia Pacific region is expected to play a major role in the market growth, due to the increase in the production of vehicles, growth in the real estate sector, and other related factors. Companies and corporations, worldwide have been investing considerable capital to develop high-quality, advanced coil coating solutions for their customers. 

Growth in the automotive sector

The market is expected to surge in the coming years, due to the rising demand for coil coatings in the automotive sector. The increase in the global population and rise in disposable income is driving the demand for vehicles worldwide. According to the data given by the International Organisation of Motor Vehicle Manufacturers, 91.7 million vehicles were produced in the year 2019. The increasing demand for electric vehicles is also driving the coil coating market growth. The introduction of high-quality coating solutions for electric vehicles enhances the overall performance and provides efficient output. According to the data given by the International Energy Agency, 2.1 million electric vehicles were sold in 2019. Electric car batteries depend on high-quality coating solutions, to minimize the fire damage risk, maintain optimal temperatures and reduce electrical interference. Several companies have been providing coil coatings for this sector. For instance, BASF SE, one of the major players in the market, has been offering coil coating solutions for the automotive sector.

Latest Developments

  • In July 2021, JSW Steel Limited announced that their board of directors had approved an investment in JSW Paints Pvt., Ltd. The company had been expected to make an investment of around INR750 crores in the novel company. This novel investment is expected to enhance the company's share in the coil coating market. The overall investment would also be used in the development of novel coil coating products and technologies.
  • In October 2020, AkzoNobel, one of the major players in the market, announced the launch of a novel coil coating for aluminum composite panels. The company had stated that their novel product, known as TRINAR A CLAD has been high performance, and 70% PVDF coil coating solution and system for monumental and commercial ACP units and projects. This development is expected to enhance AkzoNobel’s coil coating portfolio.

Impact of COVID-19 pandemic

The outbreak of the pandemic had a negative impact on the market growth. There had been a decline in the construction and automotive sector in 2020. According to the International Organization of Motor Vehicle Manufacturers, around 67 million vehicles were produced in 2020, down from 91.7 million in 2019. With the introduction of COVID-19 measures, there had been a massive decline in construction activities, worldwide.

Coil Coatings Market Scope:
Report Metric Details
 Market size value in 2019  US$6.580 billion
 Market size value in 2026  US$9.837 billion
 Growth Rate  CAGR of 5.91% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  End-User Industry, Resin Type, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Beckers Group, Wacker Chemie AG, Henkel AG & Co. KGaA, Dura Coat Products,   Inc.,  PPG Architectural Coatings UK Limited, The Sherwin-Williams Company, Akzo   Nobel N.V., Axalta Coatings System LLC, BASF SE, Du Pont
 Customization scope  Free report customization with purchase

Segmentation:

  • By Resin type
    • Polyester Resins
    • Plastisol Resins
    • Siliconized Polyester Resins
    • Fluoropolymer Resins
  •  By End-User
    • Automotive Industry
    • Appliance Industry
    • Building & Construction Industry
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
      • Others
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • South Africa
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the coil coatings market size by 2026?
A1. The global coil coatings market is expected to reach a market size of US$9.837 billion by 2026.


Q2. What is the size of global coil coatings market?
A2. Coil Coatings Market was valued at US$6.580 billion in 2019.


Q3. What are the growth prospects for the coil coatings market?
A3. The coil coatings market is expected to grow at a CAGR of 5.91% over the forecast period.


Q4. Who are the major players in the coil coatings market?
A4. Prominent/major key market players in the global coil coatings market include Beckers Group, Wacker Chemie AG, Henkel AG & Co. KGaA among others.


Q5. What factors are anticipated to drive the coil coatings market?
A5. The growing demand for coil coating is mainly driven by increasing applications in construction, automotive, consumer appliances, and others.

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