Global Technical Coil Coatings Market is estimated to be valued at US$ 5560.00 Mn in 2021, according to the Global Technical Coil Coatings Market Report, by Material (Polyester, Plastisol, PVDF, Silicon, and Others), by Technology (Liquid Coating and Powder Coating), by Product Type (Topcoat, Primer, Backing Coat, and Others), and by End-use Industry (Construction, Automotive, Furniture, and Others), by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
Global technical coil coatings market was valued at US$ 5560.00 Mn in 2021. Technical coil coatings market is expected to register a CAGR of 5.67 % over the forecast period (2022–2030), to reach US$ 9125.78 Mn by 2030.
Key factors such as increasing demand for technical coil coatings in the construction industry and growth of the automotive industry across the world along with the rise in sales of passenger & commercial vehicles are fueling the growth of the global technical coil coatings market.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/technical-coil-coatings-market-1258
Key Trends and Analysis of the Global Technical Coil Coatings Market:
- Among technology, the powder coating segment is projected to gain major traction in the market over liquid coating over the forecast period. Powder coating offers advantages over conventional liquid coating such as less emission of volatile organic compounds, thicker coating, high efficacy, and less waste formation.
- Among end-use industries, the construction segment was the dominant segment in the global technical coil coatings market in 2021. The segment is projected to retain its dominance over the forecast period due to the substantial growth of infrastructure development projects across the world. According to the U.K. government, in its Government Construction Strategy 2021–2030, it has planned to initiate infrastructure projects valued at US$ 78 Mn across the U.K. by 2030.
Key Takeaways of the Global Technical Coil Coatings Market:
- Asia Pacific held the largest market share in the global technical coil coatings market in This is attributed to increasing government infrastructure initiatives and development programs. Governments in countries such as Indonesia, Malaysia, and Thailand are particularly focusing on developing public and private infrastructure. For instance, according to the September 2021 stats by China.org.cn, China’s Zhejiang experienced a surge in online retail sales where consumer electronics ranked in the top categories.
- Key players in the technical coil coatings market include PPG Industries , BASF SE, The Valspar Corporation, DowDuPont Inc., Akzo Nobel N.V., The Sherwin-William Company, Beckers Group, and Kansai Nerolac Company Ltd.. Leading players are focusing on new joint ventures and mergers & acquisitions strategies, to enhance their market share. For instance, in December 2016, Akzo Nobel N.V. completed the acquisition of BASF’s industrial coating business to strengthen its position as a prime global supplier of coil coatings for construction, domestic appliances, wind energy, and commercial transport applications.
- New product launches, mergers & acquisitions, strategic partnership expansion, and research & development activities for the technical coil coatings market are key strategies adopted by players in the global technical coil coatings market. For instance, in December 2021, Axalta Coating Systems LLC launched its new urethane-based topcoat, Imron Industrial Ultra 2.8 VOC Topcoat for construction and agricultural equipment. Such expansion of topcoat technical coil coatings is expected to increase its demand during the forecast period.
