Sales in the global technical coil coatings market are slated to top USD 10.3 Billion in 2022. Expanding at a healthy 4.9% CAGR, the market size is projected to total USD 13.0 Billion by 2027.
| Attribute | Details |
|---|---|
| Technical Coil Coatings Market Estimated Size 2022 | USD 10.3 billion |
| Technical Coil Coatings Market Value-based CAGR (2022 to 2027) | ~ 4.9% |
| Technical Coil Coatings Market Size in Projected 2027 | USD 13.0 billion |
Increasing construction activities in both developed and developing economies are set to drive the sales in this market. Governments of various emerging countries such as India and China are investing increasingly in the rapid development of infrastructure to enhance connectivity.
Many coil coating companies are striving to develop state-of-the-art products for the furniture industry as these are extensively used in desks, storage units, filing cabinets, and shelving applications. The surging spending on non-residential construction activities, especially in developed countries is expected to propel the market in the forthcoming years.
Explore FMI!
Book a free demo
| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.5% |
| H1,2022 Projected (P) | 4.8% |
| H1,2022 Outlook (O) | 4.3% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 20 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 50 ↓ |
Future Market Insights presents a half-yearly comparison and insightful analysis of technical coil coatings market growth rates along with recent developments in the market. Sales in this market are anticipated to be driven by rising construction activity in both developed and emerging economies.
Governments in various developing nations, like China and India, are investing a significant amount in infrastructure development to improve connectivity, which is expected to drive the growth of the market.
The majority of the major coil coating companies are concentrating on expanding their current product portfolios and bolstering their manufacturing capacities in order to draw in and meet the demand of a sizable global consumer base.
While this is going on, a few other firms are attempting to enter into alliances, joint ventures, mergers, and acquisitions to maintain their leading position in the industry. These are some of the trends observed in the market.
The variation of bps points observed in the technical coil coatings market in first half 2022 estimated growth over first half 2022 projected growth reflects a decline of 20 units, according to FMI analysis. Further, in comparison to first half 2021, the market is expected to fall by 50 basis points as per current estimates.
One of the primary causes of this fluctuation in the growth rate is the unpredictability of the price of the raw materials used to make technical coil coatings, which is responsible for the market's sluggish growth during the first half of the projected period.
Despite these obstacles, the industry has some promising prospects, including increased consumption of technical coil coatings in the automotive & furniture industry. Growing adaption of these coatings in automotive parts is expected to bolster the market growth in the forecast period.
The technical coil coatings market is expected to register 4.9% CAGR between 2022 and 2027, up from 4.0% CAGR recorded during 2012-2021, predicts Future Market Insights.
The rapid expansion of the automotive sector is likely to positively influence the sales of cooling coil coatings. These coatings enable automobile manufacturers to produce uniform and high quality finish to metal within an affordable range. Thus, various automakers are set to utilize these coatings for the manufacturing of several auto parts.
Many automotive original equipment manufacturers (OEMs) are offering improved after sales services to attract more customers, which is projected to spur the market in the near future. As per the International Organization of Motor Vehicle Manufacturers (OICA), from January to September 2021, approximately 57,262,777 vehicles were produced worldwide. Therefore, the increasing production and sales of both commercial vehicles and passenger cars are anticipated to boost the demand for color coated coils.
Technical coil coatings have several beneficial properties, such as corrosion resistance, flexibility, stain resistance, and hardness that make them an ideal product for usage in the automotive sector. The inclusion of new types of paint curing in the coil industry, namely, UV, induction, infrared, and thermal cure is set to fuel the market.
The ongoing development of the furniture industry across the globe is expected to accelerate the sales of coil coated steel in the upcoming years. It delivers numerous advantages, such as prolonged anti-corrosion resistance, higher paint adherence, enhanced aesthetics, and superior chemical and water resistance.
The rising number of marketing campaigns related to the availability of ready-to-use furniture for commercial and residential building accommodation is set to attract more customers. Many furniture manufacturers are projected to enter collaborations and partnerships with construction companies, which would help in bolstering the growth.
The surging number of small-size houses is likely to encourage the usage of multi-functional furniture equipped with extra storage space. The expansion of the real estate industry owing to the increasing disposable income and the high demand for aesthetic homes is projected to spur the market.
Increasing Usage of Color Coated Coils to Make Railway Tracks and Pipes will Aid Growth
The rising usage of color coated coils to make pipes, railway tracks, and automotive frames is a crucial factor that is expected to spur the market in India during the assessment period. As per FMI, Asia Pacific excluding Japan (APEJ) technical coil coatings market is projected to generate about 34.8% of the share in 2022.
In July 2021, JSW Steel Ltd, a Mumbai-based multinational steel making company, announced its plan to secure coil coating supplies, especially for color coated steel. The company considers this strategy to be beneficial for profit generation. The growing focus of major companies on similar other strategies to generate high shares is set to drive the market in India.
Key Players are Aiming to Expand Their Cooling Coil Coating Production Capacities
Increasing investments and expansion activities undertaken by various market players to provide better service to end users will accelerate the sales of cooling coil coatings in the USA North America technical coil coatings market is set to hold around 25.0% of the share in 2022, estimates FMI.
Ternium USA, a leading Shreveport-based manufacturer of steel is planning to invest about USD 98 million to broaden its facility at the Port of Caddo-Bossier. In December 2021, the company declared that it will be adding its second coil coating paint line with an annual capacity of 120,000 st/year.
In the first quarter of 2022, construction of this new facility is set to begin and this expansion would help the company to add complementary services, range, and volume to its existing platform. The rising focus of prominent companies operating in the USA on the expansion strategy is expected to fuel the sales of color coated coils.
Coil Coating Companies are Developing Innovative and Durable Products
The increasing focus of leading coil coating companies on the development of innovative and highly durable products with gloss and color retention properties for a wide range of industries is anticipated to drive the market in the Netherlands. Western Europe technical coil coatings market is expected to account for approximately 21.9% of the share in 2022, finds FMI.
In September 2021, for instance, Akzo Nobel N.V., a pioneer in the paints and performance coatings industry based in Amsterdam, declared that Bright Skies, its Color of the Year 2022 is now available in coatings for building and construction metal.
The company is focusing on selling its product globally backed by centuries of innovation and experience. With this launch, customers can select various options for creating a long-lasting and timeless aesthetic design. The development of similar other products in the Netherlands is likely to propel the market.
Polyester Cooling Coil Coatings to Remain in High Demand
Based on material type, the polyester segment is projected to remain at the forefront in the technical coil coatings market. Polyester finds applications in pre-engineered buildings as it provides excellent flow characteristics to a wide range of temperatures.
It is suitable for external applications, such as doors and trim, mobile homes, truck trailers, and residential roofing systems. It is considered to be an environmentally friendly and cost-effective cooling coil coating and thus its demand is set to surge in the near future.
Demand for Eco-friendly Coil Coated Steel is Surging in Industrial Buildings
By application, the steel coating segment is anticipated to hold the lion’s share in the technical coil coatings market during the evaluation period. Coil coated steel helps in resisting corrosion in industrial and commercial buildings. Without it, unprotected steelwork can fall into disrepair at a fast pace.
The increasing implementation of stringent government norms revolving around the usage of coatings to minimize the release of toxic Volatile Organic Compounds (VOCs) is compelling manufacturers to develop sustainable products. Spurred by the urgent need to comply with industrial environmental legislation, the sales of environmentally friendly steel coatings is set to rise.
Sales of Pre-owned Vehicles to Bolster Demand for Color Coated Coils for Usage as Topcoats
In terms of product type, the topcoats segment is likely to generate the largest technical coil coatings market share in the near future. The rising usage of topcoat on vehicles to protect the body from UV resistance, environment, corrosion, scratches, and chemicals is anticipated to drive the segment.
The surging sales of pre-owned vehicles, increasing number of vehicle repair and body shops, and expansion of various cab services, especially in emerging countries are set to propel the demand for color coated coils for usage as topcoats. Topcoats also help in surging the vehicle’s aesthetic appeal by improving the color intensity through reflection.
Rapid Development of Powder Coating by Key Coil Coating Companies to Fuel Growth
Based on technology, the powder coating segment is estimated to retain its dominance throughout the forecast period. Powder coating contains paint pellets in powder form, unlike the conventional liquid coating that consists of a binding agent.
Several coil coating companies are increasingly coming up with powder coatings as these do not emit VOCs and are thus considered to be eco-friendly. A single layer of powder coating is required as it is extremely thick and even, thereby preventing product wastage.
HVAC Coil Coatings are Gaining Popularity in Coastal Areas
By end use, the HVAC segment is set to lead the technical coil coatings market in terms of share in the upcoming years. The usage of HVAC coil coatings is important as it helps in sustaining the full lifecycle of newly-installed equipment which is meant for corrosive environments.
Today’s technologically advanced HVAC coil coatings are packed in easy-to-use, convenient, and game-changing aerosol cans. This allows contractors to coat coils onsite or in their shops before installation. HVAC coil coatings are extensively used in coastal areas where salt sprays from oceans can corrode outdoor HVAC coils if not coated before use.
The global technical coil coatings market is highly consolidated with the presence of several well-established participants. Majority of the key coil coating companies are focusing on broadening their existing product portfolios and strengthening their production capabilities to attract and serve a large consumer base across the globe.
Meanwhile, a few other players are aiming to engage in partnerships, joint ventures, mergers, and acquisitions to remain at the forefront in this market.
For instance,
| Attribute | Details |
|---|---|
| Forecast Period | 2012 to 2021 |
| Historical Data Available for | 2022 to 2027 |
| Market Analysis | Units for Volume and USD Billion for Value |
| Key Regions Covered | North America; Western Europe; APEJ; Latin America; Eastern Europe; MEA; and Japan. |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others. |
| Key Market Segments Covered | Material Type, Product Type, Technology, Application, End Use, and Region |
| Key Companies Profiled | Axalta Coating Systems; Akzo Nobel N.V, PPG Industries; The Valspar Corporation; The Chemours Company; Henkel AG & Co. KGaA; Kansai Paint Co. Ltd.; Eastman Chemical Company; NOROO Coil Coatings Co., Ltd; Becker Group; ALCEA; Dura Coat Products, Inc.; Italcoat S.r.l.; Huhoco GmbH; Unichem; Kömmerling Chemische Fabrik GmbH; Jotun Group; Titan Coatings, Inc.; Chemetall Group; Recubrimientos Plasticos SA; ARCEO Engineering; Nipsea Group (Nippon Paint); Lord Corporation; Salchi Metal Coats S.r.l; Lampre srl |
| Pricing | Available upon Request |
The global technical coil coatings market is expected to reach a valuation of USD 10.3 Billion in 2022.
The global technical coil coatings market grew at a healthy 4.0% CAGR between 2012 and 2021.
The expansion of the automotive industry and the rising construction activities are the key trends boosting the sales of technical coil coatings.
Axalta Coating Systems, Akzo Nobel N.V, PPG Industries, The Valspar Corporation, The Chemours Company, Henkel AG & Co. KGaA, Kansai Paint Co. Ltd., and Eastman Chemical Company are some of the leading players present in the global technical coil coatings market.
The Eastern Europe technical coil coatings market is anticipated to account for 6.4% of the share in 2022.
The Japan technical coil coatings market is projected to account for 7.8% of the share in the forecast period.
Textile Recycling Market Analysis by Material, Source, Process, and Region: Forecast for 2025 and 2035
Advanced Surface Treatment Chemicals Market Analysis by Chemical, Surface, End-Use Industry and Region: Forecast from 2025 to 2035
Active Oxygens Market Analysis by Product Type, Application and Region: Forecast for 2025 to 2035
Piezoelectric Ceramics Market Analysis by Type, Application and Region: Forecast for 2025 to 2035
Polycide Market Growth – Trends & Forecast 2025 to 2035
Plaster Accelerator Market Growth - Trends & Forecast 2025 to 2035
Technical Coil Coatings Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
