Albany, NY, Jan. 05, 2016 (GLOBE NEWSWIRE) -- According to the report, the global coil coatings market was valued at US$4.05 billion in 2014 and is estimated to reach US$6.27 billion in 2023, expanding at a CAGR of 5.2% between 2015 and 2023. The global coil coatings market stood at 940 kilo tons in terms of volume in 2014.
Coil coatings are used to enhance the longevity of the coated material. The coated base is usually metal, typically steel or aluminum. Coil coatings are multilayered coats of primers, coating resins, pigments, and additives. These offer weather resistance, corrosion resistance, and aesthetic appeal to coated metals. Metal rolls or sheets are generally coated on high speed rolls before forming. Coated metals are then cured and molded into various desired shapes.
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Rapid rise in non-residential construction activities due to industrial development and urbanization is expected to drive the global coil coatings market. Additionally, sales of automotive, appliances, furniture, and houses have increased owing to growth in disposable income of the population in emerging economies of Asia. This, in turn, is projected to boost the coil coatings market during the forecast period. Decline in demand for coil coatings in Europe, led by challenging economic scenario, is projected to hamper market growth during the forecast period. Prosperous countries in Middle East & Africa are anticipated to offer growth opportunities to market players during the forecast period.
In terms of volume, polyester accounted for the largest share of the global coil coatings market in 2014. The segment held more than 60% volume share in 2014. The product segment is anticipated to maintain its dominance in the near future. Polyvinylidene fluoride is likely to be the fastest growing segment of the global coil coatings market during the forecast period owing to its superior weather resistance properties and aesthetic appeal.
In terms of volume, the construction industry dominated the global coil coatings market in 2014. The segment held more than two-third volume share of the market in 2014. It is estimated to maintain its share by expanding at an average rate in the near future. Appliances is likely to be the fastest growing segment of the global coil coatings market during the forecast period. Automotive and other end-user segments are estimated to expand at moderate rates in the next few years.
The global coil coatings market is consolidated; the top four players constituted more than 55% share in 2014. Major players in the coil coatings market include Akzo Nobel N.V., The Valspar Corporation, Beckers Group, Nippon Paints Co. Ltd., BASF SE, The Dow Chemical Company, Henkel AG & Co. KGaA, Dura Coat Products, Inc., Bulk Chemicals Incorporated, Axalta Coating Systems LLC, and PPG Industries, Inc.
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The report segments the global coil coatings market as follows:
Coil Coatings Market – Product Segment Analysis
- Silicone Modified Polyester
- Polyvinylidene Fluoride (PVDF)
- Polyurethane (PU)
- Others (including epoxides and acrylics)
Coil Coatings Market – Application Analysis
- Others (including packaging, furniture, and HVAC)
Coil Coatings Market – Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Browse Article on Coil Coatings Industry:http://www.transparencymarketresearch.com/article/coil-coating-market.htm
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Source:Transparency Market Research