The global technical coil coatings market was valued at US$ 4,191.6 million in 2016 and is expected to reach US$ 6,479.8 million by 2025, at a CAGR of 5.08% over the forecast period (2017–2025), according to a Global Technical Coil Coatings Market, 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) published by Coherent Market Insights. Key factors such as increasing demand for technical coil coatings in construction industry, growth of automotive industry across the world, along with rise in sales of passenger & commercial vehicles are fueling growth of the global technical coil coatings market. According to India Brand Equity Foundation study, domestic sales of passenger vehicles in India is expected to increase at a CAGR of 12.87% during the forecast period (2016-26).
However, stringent government regulations imposed on emission of volatile organic compounds, expensive nature of coil coating technology, and fluctuating raw material prices, are major factors adversely affecting growth of the market growth.
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