The Global Technical Coil Coatings Market Is Witnessing High Growth Owing To the Increasing Expansion of the Construction Sector in the World

 

Technical Coil Coatings Market

Market Overview:

The Coil Coating process is a continuous, automated process that produces a high-quality coating that is uniformly applied over a metal strip. It can be used to produce a variety of products including residential and commercial buildings, automotive components, furniture, appliances, and more. The most common applications of coil-coated materials are in the building and construction industry, where it is referred to as pre-coated metal. This includes aluminum siding, gutters, downspouts, and soffit material as well as other exterior and interior panels and components. Coil-coated paint is available in a wide range of colors and finishes. Its use has also grown to include architectural, residential, and commercial roofing systems and insulated wall panels.

According to Coherent Market Insights, Global Technical Coil Coatings Market was valued at US$ 5560.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.67 % during the forecast period (2022 to 2030).

Competitive Landscape:

Major players operating in the global Technical Coil Coatings Market include Sherwin-Williams Company, Beckers Group, Solvay SA, PPG Industries, and AkzoNobel.

Key Market Drivers:

The increasing incidence of construction companies in the world is expected to augment the growth of the Global Technical Coil Coatings Market. For instance, according to Building Radar GmbH, there are more than 3 million construction companies in Europe.  Coil coating is a very efficient way to produce a uniform, high-quality coated finish over metal in a continuously automated fashion. Compared to powder and spray applications, it has transfer efficiencies of over 99% resulting in fewer coats of paint required. This is because coil coating uses a much higher line speed than spray or brush applications so less paint is needed to achieve the same coverage. It is a fast and inexpensive method of applying a durable paint finish to the metal. Moreover, increasing usage of coil coatings in several sectors such as the automotive sector is estimated to enhance the growth of the global technical coil coatings market.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, the Global Technical Coil Coatings Market witnessed several challenges. The imposition of lockdown issues in several regions along with transport restrictions globally has significantly affected the construction sector, which also affected the market growth.

Key Takeaways:

·       The Asia Pacific is expected to dominate the growth of the global technical coil coatings market, owing to the high expansion of the construction sector in the region. For instance, according to the Builders’ Association of India, there are over 175,000 construction companies in India currently.

·       North America is estimated to witness high growth in the Global Technical Coil Coatings Market, owing to the increasing prevalence of construction companies in the region. For instance, according to the Associated General Contractors of America, there are currently around 3,787,470 construction businesses in the United States.

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