Global Coil Coatings Market Overview:
Coil coating is more corrosion resistant as it is highly automated industrial process for efficiently coating metal. Coil coatings include polyesters, plastisol, polyurethanes, polyvinylidene fluorides (PVDF), epoxies, primers, backing coats and laminate films. Primer provides the link between pre-treatment and finish coat as it promotes corrosion in the entire system. Coil coating has many beneficial properties like low cost, flexibility and environment friendly. The automotive, electrical and electronics industries, and construction industries widely use coil coatings to have a positive feedback, increasing their sales. Coil coatings are mixture of resins like polyester, silicone and fluoropolymer that helps in buildings and constructions. The coil coatings market is expected to reach around US$ 6230 Million in 2023 at a CAGR of 6.28%
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Global Coil Coatings Market – Drivers and Restraints:
Due to high usage of coil coatings in automotive, electrical and electronics, and building industries the demand for the market has been inclining. In addition, demand from aerospace industries becomes beneficial for the growth of coil coatings market. Properties such as stain resistance, flexibility in design, durability and weather resistance are the driving the growth of market. Due to the demand for aluminum and steel in the recent years in transportations and constructions and buildings industries, coil coatings market has registered a positive growth rate. However, the high cost and usage of plastic in the industries conceal the growth of coil coatings market.
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Global Coil Coatings Market – Geographical Segmentation:
North America, Asia Pacific, Europe, and Middle East and Africa are the regions segmented on the basis of geography. As the largest consumption of coil coatings is noticed in Asia Pacific, it is dominating the market shares. The building and construction industry has been increasing in China and India, which encourages the growth of coil coatings market. Middle East and Africa is expecting to lead the market in the near future. Europe is comparatively experiencing low market demand but anticipating a positive growth in the forecast period. The high use of coil coatings in the end users will be prominent for the demand in all the regions in the future.
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Major Key Players in Global Coil Coatings Market:
The key players involved in the coil coatings market are AkzoNobel, Axalta, Nerolac, Nippon, Henkel Ag & Co. KGAA, PPG industries, Sherwin Williams, The Valspar corporation, BASF SE, ALTANA Ag, JKCC, Wacker Chemie AG, DuPont, Euramax and Becker Group.
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