U.S (New York)– The “Functional Coil Coatings Market ” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global Functional Coil Coatings Market , its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
The global functional coil coatings market size was valued at $368.5 million in 2017 and is projected to reach $509 million by 2024, registering a CAGR of 4.8% during the forecast period. Functional coil coating is conducted on metals, such as steel and aluminum. Coats used in functional coil coatings process comprise materials such as acrylic, polyester, PVDF, and epoxy resin for enhancing the aesthetics. Similarly, these coatings provide metals protection against corrosion and other metal weakening processes.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Increase in demand for corrosion resistant products drives the global functional coil coatings market. Owing to the advantages of functional coil coating process the demand for pre-coated metal is on an increase in the automotive, home appliances, and furniture industries. Steel and aluminum surface coating increases its durability, and provides additional protection against the corrosion, which has increased demand for functional coil coated steel and aluminum parts & sheets in the construction industry. However high cost of the process equipment and consumers propensity toward using the product which does not comprise steel and aluminum restricts the global functional coil coatings market growth. On the other hand, recycling of the coating waste and increasing use of organic coating materials is anticipated to provide the future market growth opportunity.
The global functional coil coatings market is segmented based on material type, technology, product type, end user, and region. By material type, it is classified into polyester, epoxy, PVC/vinyl, plastisol, PVDF, acrylic, and polyurethane. The primer segment accounted for the maximum share in 2017 because primers are formulated to stick to surfaces and to create a binding layer, which binds to paint or topcoats. Further, primers are essential for avoiding material corrosion as well as paint or coating degradation. Based on technology, the global functional coil coatings market is classified into liquid coating and powder coating. By product type, the global functional coil coatings market is classified into topcoat, primer, and backing coat. In terms of end user, it is divided into construction, appliance, automobile, and others. Based on region, the functional coil coatings industry is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The key players operating in the global functional coil coatings market include KCC paints SDN BHD, KelCoatings Limited, Daikin industries, Ltd., Henkel AG & Co. KGaA, NIPSEA group, BASF SE, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V., and PPG Industries.
KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations in the global functional coil coatings market.
In-depth analysis is conducted through market estimations of key segments from 2017 to 2024.
Comprehensive analysis of factors that drive and restrain the growth is provided in the report.
Extensive analysis of the global functional coil coatings industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the global functional coil coatings market.
KEY MARKET SEGMENTS:
Material Type
Polyester
Epoxy
PVC/Vinyl
Plastisol
Acrylic
Polyurethane
PVDF
By Product Type
Topcoat
Primer
Backing Coat
By Technology
Liquid Coating
Powder Coating
By End User
Construction
Appliance
Automobile
Others
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By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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