logo
logo
Sign in

Functional Coil Coatings Market Size is Forecast to Reach $566 Million by 2025

avatar
Palli Prapul
Functional Coil Coatings Market Size is Forecast to Reach $566 Million by 2025
Functional Coil Coatings Market size is forecast to reach $566 million by 2025, after growing at a CAGR of 5% during 2020-2025. Metal coated with functional coil-coating provides features such as flexibility in design, improved corrosion & weathering resistance, and abundant color & texture availability. These properties make functional coil coatings an ideal choice for coating metal roofs, wall panels, storage units, and garage doors to increase the durability of the infrastructure. In addition, it offers advantages such superior chemical & water resistance, prolonged anticorrosion resistance, enhanced aesthetics, and higher paint adherence. These factors have significantly increased the demand for functional coil coating in the automotive, home appliances, and furniture industries. In addition, recycling of the coating waste and growing use of organic coating materials are anticipated to provide various opportunities for market growth in the coming years.
 
Technology - Segment Analysis
 
Liquid coating technology held the largest share in the functional coil coating market in 2019, owing to wide use of liquid coating in home appliances and construction & automotive industries. In addition, the powder coating segment is also growing at a faster rate during the forecast period. This is due to the fact that powder-coated metals are resistant to scratching & paint fading and provide much thicker coatings than conventional liquid coatings without running or sagging. 
 
Material Type - Segment Analysis
 
Polyester segment held the largest share in the Functional Coil Coatings market in 2019, due to its wide usage as a final topcoat in the functional coil coatings cycle, owing to its low cost and easy application methods. In addition, it offers excellent corrosion and weather resistance to the coated material in most conditions. Therefore, owning to these factors polyester segment dominated the functional coil coated market. In addition, epoxy resins, polyvinylidene fluoride, and plastisol are also growing at a faster rate during the forecast period.
 
End Use - Segment Analysis
 
Appliance segment held the largest share in the functional coil coating market in 2019 and is growing at a CAGR of 5.6%. This is due to the increased expenditure power of consumers and improved living standards. Functional coil coated metals are useful for enhancing the design and aesthetics of home appliances. In addition, the use of these metals enables manufacturers to customize textures. Thus, in order to meet the changing consumer demand for home appliance design, manufacturers use functional coil coated metals, which is driving functional coil coated market growth.
 
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=501450

Report Price: $ 4500 (Single User License)

Geography - Segment Analysis
 
Asia Pacific held the largest share in the Functional Coil Coatings market in 2019, up to 28%, owning to growth in construction projects and rising automotive production in countries such as India, Malaysia and others. Due to their high-end aesthetics and long-lasting value, functional coil coatings are used in the building and construction industry, in ceiling grids, doors, roofing and siding, windows, and others. Construction projects and investments in Asia Pacific region is significantly increasing, which is driving functional coil coating market. For instance, in 2019, China government invested 1.9 billion on 13 public housing projects. In addition, in February 2020, the Asian Development Bank approved a loan of $631 million to develop the Vishakhapatnam-Chennai industrial corridor. Furthermore, construction projects such as ‘100 smart cities’ and ‘Housing for All by 2022’ in India are influencing functional coil coating market growth. In addition, according to OICA, automotive production in countries such as India, Indonesia, and Malaysia has increased by 8%, 10.3% and 12.2% up to 5,174,645, 1,343,714 and 402,085 from 2017. Therefore, the growth in automotive industry is also supporting functional coil market growth in the region.
 
Drivers – Functional Coil Coatings Market
 
Growing demand for energy efficient structures
 
With an increasing number of building codes that promote energy-efficient structures, homebuilders and consumers are gradually moving towards strategies that deliver long-term performance and energy savings. In addition to aesthetic look, durability and functionality, functional coil coatings are known for their infrared-reflective pigment technology. This technology saves energy on cooling by helping to ease the interior temperature of the building. According to the US Department of Energy, heating and cooling costs account for 48 percent of energy use in typical US households. Therefore, as the use of functional coil coated metal can reduce the overall utility bills, while providing excellent resistance, superior longevity, infinite aesthetic color and texture options and environmental benefits, the demand for it is growing. 
 
Challenges – Functional Coil Coatings Market 
 
High production cost of functional coil coatings
 
The major factor hindering the growth of this market is the high cost of the processes involved in the production of functional coil coatings. The manufacturing process of functional coil coating involves the coil coating line, which includes various cleaning, heating and coating tools and equipment. Higher maintenance costs for these machines increase the cost of the process and therefore, increases the cost of functional coil coatings. Therefore, owning to high cost of pre-coated metal, consumers may prefer home appliances that require fiber or plastic for fabrication. Thus restraining market growth. 
 

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=501450

Market Landscape
 
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Functional Coil Coatings Market. In 2019, the market of Functional Coil Coatings Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Functional Coil Coatings market are KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries., among others.  
 
Acquisitions/Technology Launches
 
In March 2020, PPG industries acquired Alpha Coating Technologies, LLC a manufacturer of powder coatings for metal and light industrial applications.
 
In October 2015, AkzoNobel opened new coil coating production plants in Garcia, Mexico.
 
In June 2015, PPG Industries launched Duraform™ Next-Generation Polyester Coatings, ideal for coating appliances, building products, and transportation equipment.
 
Key Takeaways
 
Asia-Pacific dominates the global functional coil coating market, owing to increased manufacturing & construction activities and various government initiatives such as 100 smart cities and Housing for all by 2022 in the region.
 
Functional coil-coated metal is used widely in the furniture industry, due to its design flexibility and enhanced corrosion resistance. Increasing consumer disposable income and improving living standards fuels the demand for modern furniture, which, in turn, is expected to increase the need for functional coil-coated metals.
 
However, growing demand for lightweight materials in the automobile industry is hindering functional coil coating market growth.
 
Due to Covid 19 epidemic, automobile and component manufacturing plants are being shuttered around the world, and vehicle sales are dropping. This is impacting functional coil coating market growth. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021.
 
Related Reports :
 
1.Coil Coatings Market
 
2.Industrial Coatings Market
 
Media Contact:

Mr. Venkat Reddy

Sales Manager

Email: [email protected]

Contact Sales: +1-614-588-8538 (Ext-101)
 
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.
collect
0
avatar
Palli Prapul
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more