Functional Coil Coatings Market: Overview
Functional coil coatings is a method of applying an organic coating material on rolled metal sheets such as stainless steel, steel, and aluminum before it is flexed, reshaped, or deep-drawn. Functional coil coatings are usually powder- or liquid-based materials applied to pretreated substrate to prevent corrosion. A conventional functional coating process involves cleaning of substrate, drying, application of primer coating and top coating, and foil lamination.
Functional Coil Coatings Market: Drivers & Restraints
Surge in demand for functional coil coatings from electrical & electronic, construction, and automotive industries is driving the functional coil coatings market. Functional coil coatings offer superior corrosion resistance, flexibility, and stain resistance. Moreover, growth in the construction industry in emerging economies in Asia Pacific, Latin America, and the Middle East and renovation of old building structures in various countries in Europe and North America are boosting the functional coil coatings market. Furthermore, rise in automobile production in Japan, South Korea, India, and China drives the functional coil coatings market in Asia Pacific. However, replacement of metals with engineered plastics is likely to hamper the functional coil coatings market during the forecast period. Increase in penetration of functional coil coatings in pharmaceutical packaging, and aerospace applications is expected to create lucrative opportunities in the functional coil coatings market.
Functional Coil Coatings Market: Key Segments
Based on material type, the global functional coil coatings market can be divided into acrylic, epoxy resins, polyester, polyvinylidene fluoride, Polyvinyl chloride/vinyl, plastisol, and polyurethane. In terms of product type, the market can be segmented into topcoats, primers, and backing coats. Based on technology, the functional coil coatings market can be bifurcated into liquid coatings and powder coatings. The powder coating segment is estimated to expand at a rapid pace owing to its fade resistant and scratch resistant properties.
In terms of end-user industry, the functional coil coatings market can be categorized into construction, appliances, automobile, and others.
Functional Coil Coatings Market: Trends & Developments
Leading coating manufacturers and research institutions are aiming to develop environment friendly coating materials made from bio-based resins. They are also developing function coil coatings that have low volatile organic compound emission to cater to the rising demand of customers.
Functional Coil Coatings Market: Regional Outlook
Asia Pacific is expected to be a lucrative region of the functional coil coatings market during the forecast period owing to the growth in aluminum, steel, and construction industries. Expansion of the functional coil coatings market in Asia Pacific can also be attributed to the rise in the number of production plants in most countries in the region, especially China.
Expansion of the functional coil coatings market in emerging economies such as India, Taiwan, Indonesia, and Malaysia is driven by the surge in construction activities in these countries. Increase in production of automotive in China and Japan has propelled the usage of functional coil coatings. This, in turn, is driving the functional coil coatings market in Asia Pacific.
Functional Coil Coatings Market: Key Players
Key players operating in the global functional coil coatings market include KCC paints SDN BHD, Kel Coatings 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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.