Growing coil coatings demand in construction, automotive and electrical & electronics industries on account of its superior properties such as stain resistance, corrosion resistance and flexibility compared to conventional coatings is expected to drive the global market growth over the forecast period. Increasing coil coatings penetration in pharmaceutical packaging and aerospace applications is expected to have a positive impact on the global market growth. Steel and aluminium are among the most dominant application segments for coil coatings. Increasing steel and aluminium demand in construction and transportation industries respectively is expected to further drive coil coatings demand. This trend is expected to fuel the market growth over next six years. Due to its strain resistance and flexibility, coil coatings are gaining acceptance in packaging materials. Increasing high efficiency packaging material demand globally for transportation and storage applications is expected to drive the market in coming years. Increasing metal substitution with engineering plastics such as polycarbonate in automotive industry is the major restraining factor which may hinder the market growth.
Growing construction industry in emerging markets of China and India along with Thailand, Malaysia, Indonesia and Philippines is expected to drive Asia Pacific coil coatings market growth over the forecast period. Increasing automotive production in Japan, India, China and South Korea is expected to further drive coil coatings demand in automotive coating applications. Recovery of construction and automotive industries in the U.S. is expected to drive coil coatings demand in the respective applications over the forecast period. Increasing coil coatings demand in Mexico for construction applications is anticipated to further complement the regional market growth over the next six years. Growing pharmaceuticals industry in the U.S. is anticipated to further fuel the North American coal coatings market growth. Economic crisis in Europe has resulted in stagnant growth of major coil coatings end-use industries such as construction, electrical & electronics and pharmaceuticals. Majority of coil coatings demand in the region is expected from Central & Eastern European countries such as Bulgaria, Czech Republic, Russia, Belarus and Romania which are witnessing high construction growth.
Some of the major global companies operating in global coil coatings market include Akzonobel, PPG Industries Inc., The Valspar Corp., BASF SE, DuPont, Henkel AG & Co., Kansai Paint Chemical Ltd., The Beckers Group, The Sherwin-Williams Co., and Wacker Chemie AG.
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