What Has Driven the Growth of the Coil Coatings Market in Recent Years?
The coil coatings market has seen considerable growth due to a variety of factors.
• The market size for coil coatings has seen a robust expansion in the last few years. The market, which was valued at $5.63 billion in 2024, is anticipated to swell to $5.94 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.4%.
The noteworthy growth observed in the previous years can be accredited to factors such as the creation of specialized coatings, customization along with color trends, enhanced emphasis on resilience and performance, progress in application procedures, and the market spreading into the construction sector.
What Are The Estimated Market Size And Expected Annual Growth Rates For Globa Coil Coatings Market?
The coil coatings market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for considerable growth in the coil coatings market size in the imminent years. Its value is predicted to strike $7.82 billion in 2029, predicting a compound annual growth rate (CAGR) of 7.1%.
The growth anticipated in the forecasted period is due to the escalating demand for energy-saving coatings, emphasis on durable and enduring coatings, rising adoption in vehicle production, growth in construction and design sectors, and customization and color flexibility. Significant trends throughout the predicted period encompass market outreach in nascent economies, environmental benchmarks and sustainability endeavors, advancements in coating formula technologies, innovative architectural designs, and transition towards high-performance coatings.
Which Factors Are Boosting Growth In The Coil Coatings Market?
The anticipated increase in coil coatings demand from the building and construction sector is set to foster the expansion of the coil coatings market in the years ahead. Building construction encompasses the making of residential homes, public edifices, and industrial structures. Coil coatings are employed to provide protective applications and sealants to various surfaces to enhance their appearance, resist corrosion, adhere better, and resist scratches. For instance, data from the Australian Bureau of Statistics, a government agency based in Australia, shows that during the first quarter of 2023, new construction projects increased, with 240,813 ongoing compared to 240,065 in 2022. Out of these, 103,778 were new homes in 2023, which is higher than the previous year's number of 101,240. Consequently, the rising demand for coil coatings in the building industry stimulates the coil coatings market's growth.
What Are The Key Segments Within The Global Coil Coatings Market?
The coil coatings market covered in this report is segmented –
1) By Type: Polyester, Fluoropolymer, Siliconized Polyester, Polyvinylidene Difluoride (PVDF), Polyurethane (PU), Plastisols, Other Types
2) By Application: Steel, Aluminum
3) By Industry: Construction, Automotive, Industrial And Domestic Appliances, Other Industries
Subsegments:
1) By Polyester: Standard Polyester, High-Performance Polyester
2) By Fluoropolymer: Polyvinylidene Difluoride (PVDF), Other Fluoropolymers
3) By Siliconized Polyester: Standard Siliconized Polyester, High-Performance Siliconized Polyester
4) By Polyvinylidene Difluoride (PVDF): Standard PVDF, Modified PVDF
5) By Polyurethane (PU): Aliphatic Polyurethane, Aromatic Polyurethane
6) By Plastisols: PVC Plastisols, Other Plastisols
7) By Other Types: Acrylic Coatings, Epoxy Coatings, Specialty Coatings
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How Are New Trends Impacting The Size Of The Coil Coatings
Key players in the coil coatings market are channeling their resources toward the development of unique products such as energy-curable coatings in a bid to stay competitive. These refer to a specific set of coatings which undergo rapid curing when exposed to energy sources like ultraviolet (UV) light or electron beams (EB), culminating in a robust, resilient finish without the requirement of solvents or high-temperature drying procedures. To exemplify, PPG, a US-based corporation specializing in the production of paints, coatings, and adhesives, unveiled their PPG DuraNEXT product line in July 2024. This line introduced electron-beam (EB) and ultraviolet (UV) curable backing, base coats, primers, and clear coats to metal coil coaters, thereby boosting energy efficiency and expediting curing times. The PPG DuraNEXT coatings employ electron beam or ultraviolet energy to convert a liquid coating into a completely solid finish within seconds, incurring minimal thickness or weight reduction.
Who Are the Key Players in the Coil Coatings Market?
Major companies operating in the coil coatings market include:
• BASF SE
• ArcelorMittal SA
• Bayer AG
• The Sherwin-Williams Company
• Covestro AG
• PPG Industries Inc.
• DuPont de Nemours Inc.
• Akzo Nobel N.V.
• Nippon Paint Holdings Co. Ltd.
• Fujian New Shiying Paint Co. Ltd.
• Wacker Chemie AG
• The Chemours Company
• RPM International
• Cornerstone Building Brands
• Metal Coaters System
• NipseA Group
• Axalta Coatings System LLC
• Valspar Corporation
• Jotun Group
• Evonik Industries AG
• Hempel A/S
• NOROO Coil Coatings Co. Ltd.
• Brillux GmbH & Co. KG
• Beckers Group
• Yung Chi Paint & Varnish Mfg Co. Ltd.
• CENTRIA Inc.
• Recubrimientos Plasticos S.A.
• Titan Coatings Inc.
• BDM Coil Coaters
• Teknos Group Oy
• Henkel AG & Company
• Kansai Nerolac Paints Limited
What are the Regional Insights into the Coil Coatings Market?
Asia-Pacific was the largest region in the coil coating market in 2024. The regions covered in the coil coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
