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  • Published On : Dec 2022
  • Code : CMI1258
  • Industry : Advanced Materials
  • Pages : 151
  • Formats :

Technical coil coatings refer to a process in which the material used for coating is applied on a metal strip. This process involves chemical pre-treatment of the metal surface on one side or both sides. It has applications in various industries such as automotive, construction, and others. The growth of the technical coil coatings market is fueled by increasing demand for corrosion-free products. Moreover, increasing demand from various industries such as automotive and construction has further propelled the growth of the global technical coil coatings market. However, stringent government regulations on the emission of harmful chemicals such as VOCs (Volatile Organic Compounds) is one of the major restraints for the global technical coil coatings market.

Global Technical Coil Coatings Market was valued at US$ 5560.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.67 % during the forecast period (2022 to 2030).

Drivers

An exceptional increase in the demand for corrosion-free products has helped further the revenue growth of the global technical coil coatings market. A rise in demand for high-quality products to be used in the manufacturing of various consumer durable goods as well as in the electricity and power sector is being witnessed. People are also demanding more finished goods for domestic as well as commercial use.

 There is also an increase in investments in the coatings market. All these factors have highly contributed to the growth of the global technical coil coatings market. Companies are even increasing local manufacturing to strengthen their presence in the regional market. Most of the companies enter the market with support from local suppliers. These companies later strengthen their presence by strategically acquiring local partners/suppliers in the region.   

The market was negatively impacted due to the COVID-19 pandemic as disturbances in the supply chain and the idling of factories reduced the business growth. Lockdown and cross-border movement restrictions ruptured the business in the market. Market players implemented several measures to maintain a standard business operation. Moreover, the stagnant growth in multiple end-use industries further affected the business. Going forward, the market is anticipated to witness robust growth due to the expansion in the construction and consumer electronics sector.

 Figure 1. Global Technical Coil Coatings Market Value Share (%), By Region, 2021

Technical Coil Coatings  | Coherent Market Insights

Market Restraints

The market is associated with the release of hazardous air pollutants which is a key challenge and this might affect the market growth during the forecast period. Technical coil coating line involves a thermal oxidizer to control the emission of volatile organic compounds from technical coil coatings. Owing to this challenge, various governing bodies closely monitor the use of these high-performance coatings. For instance, the Environmental Protection Agency identifies metal coil coating as a key source of hazardous air pollutant emission and strictly regulates their high uses. Such regulations and close monitoring might affect the market growth during the forecast period.

  • Increasing demand for lightweight materials in the automotive industry
  • Storage and transportation complications of coil coating
  • Strict regulations regarding the use of technical coil coatings might hamper the market growth.
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Technical Coil Coatings Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 5560.00 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 5.67 % Forecast Period: 2022-2030
Geographies covered:
  • By Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa.
Segments covered:
  • By Material: Polyester, Plastisol, PVDF, Silicon, and Others
  • By Technology: Liquid Coating and Powder Coating
  • By Product Type: Topcoat, Primer, Backing Coat, and Others
  • By End-use Industry: Construction, Automotive, Furniture, and Others
Companies covered:

PPG Industries Inc., BASF S.E., Akzo Nobel N.V., The Valspar Corporation, DowDuPont Inc., The Sherwin-Williams Company, Backers Group, and Kansai Nerolac Paints Limited

Growth Drivers:
  • Robust growth in the construction industry
  • Growing demand from the automotive sector
  • Rising home appliance product demand worldwide
  • Increasing high-efficiency packaging material demand
  • Increasing demand for residential and commercial furniture in growing economies 
Restraints & Challenges:
  • Increasing demand for lightweight materials in the automotive industry
  • Storage and transportation complications of coil coating 

Market Trends

Rising Demand from the Building and Construction Industry:

The building and construction industry is by far the largest consumer of coil coatings. The main resins, which are used extensively in construction, are polyester resin, silicone-modified polyester, and polyvinylidene fluorides (PVDF) or fluoropolymer. With the rising 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 aesthetic look, durability, and functionality, coil coatings are known for their infrared-reflective pigment technology. This technology saves energy on cooling, by helping to ease the building’s interior temperature.

According to the Department of Energy, heating and cooling costs account for 48% of the energy use in a typical U.S. household. The capability to be molded into almost any shape, excellent resistance, superior longevity, infinite aesthetic color and texture options, and environmental benefits make coil coatings a perfect option for both interior and exterior construction applications.

Furthermore, these coatings are also used in making gutters and downspouts, as a part of rainwater collection installations. Another rising use of coil coatings is for various leaf and debris prevention systems, which have recently been introduced to the market.

Figure 2. Global Technical Coil Coatings Market value Share (%), By End use Industry, 2021

Technical Coil Coatings  | Coherent Market Insights

Recent Developments

  • In January 2022, Modine Coatings, Modine Manufacturing Company’s industry-leading commercial and industrial HVAC coatings division, is planning to showcase its latest GulfCoat technology from Jan. 31 to Feb. 2 at the AHR Expo. The company will introduce GulfCoat Circuit Shield and GulfCoat AM anti-microbial products at the event. GulfCoat AM is a spray-applied antimicrobial coil coating that uses silver ions to prevent the growth of fungi, molds, and bacteria.
  • In October 2021, PPG Industries, Inc., a renowned supplier of paints, coatings, and specialty materials based in the U.S., unveiled a wide range of coil coatings for commercial, residential, and industrial metal building products at Metalcon 2021. The company launched PPG Coraflon ADS, PPG Duranar, PPG Duraform, and PPG Durastar coatings. The company aims to provide superior-quality products for high-end architectural applications.
  • In July 2021 data by China.org.cn, consumer electronics export experienced a growth trajectory for 12 months in a row. Technical coil coatings lines use equipment like thermal oxidizers to accommodate the requirement of emission criteria as the market is associated with strict regulations and this might hamper the market’s growth during the forecast period.

Competitive Section

Major players operating in the global technical coil coatings market include PPG Industries Inc., BASF S.E., Akzo Nobel N.V., The Valspar Corporation, DowDuPont Inc., The Sherwin-Williams Company, Backers Group, and Kansai Nerolac Paints Limited.

Technical Coil Coatings Market Size and Forecast to 2030

Technical coil coatings is used in various end-use industries such as construction, automotive, furniture, HVAC, home appliances, and others. Coil coatings offer protection against changing weather conditions and improve the durability of coated substrates. Leading market players are investing to develop new products to increase coil coating product portfolio for extending their application areas in major end-use industries. For instance, the Environmental Protection Agency identified metal coil coating as a key source of hazardous air pollutant emission and strictly regulates their high uses. Such regulations and close monitoring might affect the market’s growth during the forecast period.

Market Dynamics

The By polyester segment accounted for the highest revenue share in the global technical coil coatings market in 2021 and the segment is projected to retain its position, due to the high demand for polyester coating in the construction and furniture industries. In construction, technical coil coatings have a variety of applications such as metal roofing & siding, windows, and doors. Therefore, the construction segment is the major segment in End-use Industry.

Asia Pacific was the dominant market in 2021 and the region is projected to be the fastest growing in the global technical coil coatings market over the forecast period. The growth of Asia Pacific technical coil coatings market is attributed to the growth of end-use industries along with strategic investment by leading market players such as PPG Industries Inc. and BASF SE in the region to tap the potential market in China, India, and South Korea. For instance, in March 2021, Akzo Nobel A.V., a U.S.-based company operating in coil coatings, launched TRINAR TC (Tough Coat), a new PFOA-free PVDF coil coating system that combines exceptional 70% PVDF performance with increased durability and simplicity of use. This TRINAR coating technology provides stain, abrasion, and scratch resistance to surfaces in the building & construction industry.

Key features of the study:

  • This report provides an in-depth analysis of technical coil coatings and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) over the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains an attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global technical coil coatings market on the basis of the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include PPG Industries Inc., BASF SE, Akzo Nobel N.V., The Valspar Corporation, DowDuPont Inc., The Sherwin-Williams Company, Beckers Group, and Kansai Nerolac Paints Ltd.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launches, technology upgrades, market expansion, and marketing tactics
  • The global technical coil coatings market report caters to various stakeholders in this industry including investors, suppliers, technical coil coatings manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the technical coil coatings market

Detailed Segmentation:

  • Global Technical Coil Coatings Market, By Material:
    • Polyester
    • Plastisol
    • Polyvinylidene fluoride (PVDF)
    • Silicon
    • Others
  • Global Technical Coil Coatings Market, By Technology:
    • Liquid Coating
    • Water-borne
    • Solvent-borne
    • Powder Coating
  • Global Technical Coil Coatings Market, By Product Type:
    • Top Coat
    • Primer
    • Backing Coat
    • Others
  • Global Technical Coil Coatings Market, By End-use Industry:
    • Construction
    • Automotive
    • Furniture
    • Others
  • Global Technical Coil Coatings Market, By Geography:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Italy
      • France
      • Russia
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
      • GCC
      • Israel
      • Rest of Middle East
    • Africa
      • Central Africa
      • South Africa
  • Company Profiles
    • PPG Industries Inc.*
      • Company Overview
      • Product Portfolio
      • Financial PerTypeance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • BASF SE
    • Akzo Nobel N.V.
    • The Valspar Corporation
    • DowDuPont Inc.
    • The Sherwin-Williams Company
    • Beckers Group
    • Kansai Nerolac Paints Ltd.

Frequently Asked Questions

Global technical coil coatings market was valued at around US$ 5560.00 Mn in 2021.
The market was valued at US$ 5560.00 Mn in 2021 in terms of revenue, exhibiting a CAGR of 5.67 % during the forecast period (2022 to 2030). 
The building and construction industry is by far the largest consumer of technical coil coatings.
Stringent government regulations on the emission of harmful chemicals such as VOCs (Volatile Organic Compounds) is one of the major factors that is expected to hamper the growth of the market over the forecast period
Major players operating in the market include PPG Industries Inc., BASF S.E., Akzo Nobel N.V., The Valspar Corporation, DowDuPont Inc., The Sherwin-Williams Company, Backers Group, and Kansai Nerolac Paints Limited.
The market is estimated to grow at around 5.67 % CAGR in the forecast period (2022-2030).

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