PET-film-coated Steel Coil Market: Introduction
- The global PET-film-coated steel coil market is expected to expand at a rapid pace during the forecast period, owing to rising use of PET-film-coated steel coils in home appliances and building applications such as wall cladding, roofing, flooring panels, and wall panels
- PET-film-coated steel coil has various properties, for example, it is extremely formable, scratch resistant, resistant to humidity and temperature, and resistant to domestic cleaners and detergents as well as aggressive food ingredients
- Rapid urbanization, rising disposable income, and improved standards of living are driving the global PET-film-coated steel coil market. Rising adoption of smart home appliances is projected to further boost the global market during the forecast period.
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Key Drivers of Global PET-film-coated Steel Coil Market
- Rising environment-related concerns over plastic recycling have generated a paradigm shift toward eco-friendly and recyclable polymer materials. This is expected to drive the global PET-film-coated steel coil market during the forecast period. High demand for energy-efficient products with low carbon emissions is projected to fuel the market from 2019 to 2027. Technological advancements in polymer science are expected to pave ways for the market in the next few years, as home appliance manufacturers are preferring PET-film-coated steel coils, owing to their improved quality and durability.
- Rising demand for household appliances in developing economies such as India, Vietnam, and Bangladesh, led by factors such as increasing disposable income, growth of the housing sector, and improved living standards, is expected to drive the PET-film-coated steel coil market in Asia Pacific during the forecast period
- Shifting preference toward steel coils from aluminum coils, owing to excellent physical properties of steel such as high thermal resistivity and superior strength is estimated to drive the PET-film-coated steel coil market during the forecast period. The higher rate of production of steel than that of aluminum is projected to create lucrative growth opportunities for the global market during the forecast period.
- Several initiatives taken by federal authorities, including the World Bank, for promotion of smart home programs are projected to boost the global market during the forecast period, as these initiatives would increase the rate of adoption of smart home appliances. However, stringent regulations imposed on the production and use of thermoplastic polymers are likely to hamper the market from 2019 to 2027.
Home Appliances Segment to Witness Attractive Opportunities
- In terms of both volume and value, home appliances is projected to be a rapidly expanding segment of the global PET-film-coated steel coil market during the forecast period, owing to properties of PET-film-coated Steel such as scratch resistance, humidity and temperature resistance, high thermal resistivity, and superior strength.
Asia Pacific to Hold a Major Share of Global PET-film-coated Steel Coil Market
- In terms of both revenue and volume, Asia Pacific dominated the global PET-film-coated steel coil market in 2018. The market in the region is expected to expand at a significant pace during the forecast period, owing to rising demand for home appliances in the region, especially in India, Vietnam, and Thailand.
- China is a key country of the PET-film-coated steel coil market in Asia Pacific, owing to growth of urban population and rising disposable income in the country. China is a major hub for electric appliances that use PET-film-coated steel coils due superior properties of PET-film-coated Steel over other metals.
- Latin America held a minimum share of the global PET-film-coated steel coil market in 2018. Growth of the construction sector in Brazil is driving the market in the region.
- The PET-film-coated steel coil market in North America is anticipated to experience limited growth during the forecast period, due to sluggish expansion of industries, such as residential construction, in the region. A key driver of the market in the region is high demand for PET-film-coated steel coils for use in refrigerators and microwave ovens.
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Key Players Operating in Global PET-film-coated Steel Coil Market
New product launches and mergers & acquisitions (M&A) are some of the key strategies adopted by major players operating in the global PET-film-coated steel coil market. Key players operating in the global market are:
- Acerinox S.A
- Nippon Steel & Sumitomo Metal Corporation (NSSMC)
- YIEH Corp.
- Uttam Galva Steels Limited
- Jiangyin Everest Import and Export Co., Ltd.
- Kolor Metal A/S
- American Nickeloid Company Inc.
- Chongqing Youngson Metal
- Jiangyin Wofeng Metallic Material Co. Ltd.
- Boxing County Fuhong New Materials Co., Ltd.
- JSW Steel
- Alucosuper New Materials Co., Ltd.
- Himei Metal New Material
- Stargroup Research & Integration Co., Ltd.
- Lampre Srl
- Bhushan Steel Ltd
Global PET-film-coated Steel Coil Market: Research Scope
Global PET-film-coated Steel Coil Market, by Application
- Home Appliances
- Washing Machines
- Transport Appliances
- License Plates
- Wiper Assemblies
- Car Bodies
- Building Applications
- Wall Cladding
- Flooring Panels
- Wall Panels
Global PET-film-coated Steel Coil Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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