Asia Pacific and North America are expected to be the most potential markets for Coil Coatings manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. This is mainly attributed to the anticipated growth in various end use industries such as automotive and construction, especially in developing countries such as China and India. According to IBEF, the Indian automotive industry is expected to be valued at US$ 300 billion by 2026. This trend is expected to be followed over the forecast period. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India.
Need for cost effective and durable coatings are firing the demand for coil coatings, especially in Asia Pacific and Middle East regions. However, the substitution of metals by plastics is one of the restraining factors for the coil coatings market. Expansions and acquisitions is a key strategy adopted by the major players. AkzoNobel, a leading coatings and paints manufacturer inaugurated a new coatings plant in Noida, Uttar Pradesh. With an investment of US$ 46.5 million (INR 3 crore), the new facility has added 6000 kl of annual production in coatings. This will help the company to penetrate the Asia Pacific market and increase supply chain. Some of the major companies operating in the coil coatings industry include BASF SE, Henkel AG & Company, DuPont, The Beckers Group, Kansai Paint Chemical Limited, AkzoNobel, PPG Industries Inc., The Sherwin-Williams Company, and Wacker Chemie AG.
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Coil coatings provide durable surfaces, beautiful topcoats, innovative applications, cost savings and green benefits as compared to other substrates and coating options. Steps involved in coating process are stitching the strip to the previous coil, cleaning the strip, power brushing, pre-treating with chemicals, drying the strip, applying primer on one or both sides, curing (up to 60 seconds), cooling the strip, top coating on one or both sides, second curing, cooling down to room temperature, and finally the rewinding of the coated coil.
Coil coatings are used in the lighting industry in decorative details and lighting fixtures in office buildings, educational institutions, retail spaces, hospitals, factories, government buildings and warehouses. They are also used in film laminate for applications which require a very high specular reflectance or mirror-like reflection, such as fluorescent light fixtures, solar tubes, and reflectors. Coil coatings are also used as a sound dampening solution for metal roofing. The principal application segments for coil coatings are steel and aluminium are among. Increasing steel and aluminium demand in construction and transportation industries is expected to promote coil coatings market.
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Coil Coatings Market Taxonomy
On the basis of product type, the global market is classified into:Plastisols,Polyurethane (PU),Polyester,Polyvinylidine Fluorides (PVDF),Silicone Modified Polyester
On the basis of application, the global market is classified into:Automobile,Construction,Transportation,Consumer goods