Global Functional Coil Coatings Market: Overview
Functional Coil Coating is a process in which a coating material is applied on the metal strip in a continuous process. It is used in applications such as steel coatings and aluminum coatings. A new research report depicts that global functional coil coatings market is surging with the rise in the automotive sector, consumer appliances and industrial sector. According to the report by Future Market Insights (FMI) titled ‘Functional Coil Coatings Market: Global Industry Analysis (2012 – 2016) And Opportunity Assessment (2017 – 2027),’ functional coil coatings is expected to witness a surge in demand in the coming years. The global functional coil coatings market is expected to grow at value CAGR of 4.9% during the forecast period. The market is also anticipated to reach a market size of over US$ 590 Mn by the end of 2027. Sound demand from all end use sectors coupled with increasing steel consumption is anticipated to contribute to the growth of the functional coatings market at a significant rate in the years to follow.
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Global Functional Coil Coatings Market: Trends and Opportunities
The global functional coil coatings market is experiencing a paradigm shift from technological point of view. The market has changed in many ways and further improvements are expected to drive its growth. Implementation of new technologies and consolidations is one of the key trends identified across the value chain of the coil coatings market. This is majorly because consolidation helps companies to enhance its presence in the market. The global functional coil coatings market is also helped by growing demand for corrosion free products. The industries are inclined towards use of only high quality products. This has opened the gates for various opportunities for businesses in the industry. Key companies are also increasing local manufacturing to strengthen their presence in the regional market and increasing their investments for acquisitions.
Global Functional Coil Coatings Market: Segmental Analysis
Based on technology, liquid coating segment dominates the market with a market size of US$ 500 Mn expected by the end of 2027.However water borne technology leads in terms of growth rate of 5.1% expected during the forecast period, making water borne a lucrative segment in the foreseen future.
Based on product Type, topcoats segment and primers segment expected to grow at a similar growth rate expected during the forecast period. However topcoat leads in terms of market size.
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In terms of material type, polyester is ahead of all the material types present in the global functional coil coatings market. It is expected to reach a market size of over US$ 450 Mn by the end of 2027.
Based on application, steel dominates the global functional coil coatings market with an estimated market value of over US$ 450 Mn by the end of 2027, growing at a CAGR of 4.9% during the forecast period.
On the basis of end users, consumer appliances segment has the highest market size of over US$ 400 Mn by the end of 2027. HVAC segment is expected to register the highest growth rate during the forecast period.
By region, Asia Pacific excluding Japan is expected to show high market attractiveness. The functional coil coatings market in this region is projected to grow at a higher pace in the coming years to reach a significant market valuation by the end of the year of assessment
Global Functional Coil Coatings Market: Competitive Analysis
This comprehensive research report comprises a brief profile of all the major players in the industry. Some of the key players mentioned in the report are Dura Coat Products, Inc., Italcoat S.r.l., Huhoco 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, kömmerling chemische fabrik gmbh, Unichem etc.
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