Coil Coating Market Analysis

Global Coil Coating Market Overview

The Coil Coating Market Size was valued at USD 5.41 billion in 2023. The Coil Coating industry is projected to grow from USD 5.74  Billion in 2024 to USD 8.68 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.31% during the forecast period (2024 - 2032). Increased housing demand and rapid industrialization in emerging economies are the key market drivers contributing to the market's overall growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Coil Coating Market Trends

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  Growing housing demand is driving the market growth.

  
  

The rising housing demand and rapid industrialization in emerging economies drive Market CAGR for Coil coating. Increased market economic conditions foster the expansion of the coil coating industry. Adopting a different way of life and attempting to uphold a high quality even changed the growth of this market. Furthermore, developing nations are experiencing the fastest exponential growth in housing demand. The government invests a portion of its revenue in new and growing businesses and some public infrastructure projects. As a result, market demand and size increase, and a significant aspect driving the expansion of the coil coating sector is the rise in industrialization in developing nations.

Additionally, the coil coatings market growth rate is increasing due to the number of end-use industries. Growing building activity and infrastructure developments, particularly in developing nations, will open up more attractive growth potential for the coil-based coatings industry. The demand for coil coatings will continue to increase due to growing industrialization and significant investments made in coil coatings by downstream industries. The development of exterior chemistry and treatment techniques will receive greater focus, accelerating the growth of the coil coatings industry. Businesses are increasing their R&D spending significantly to develop a new generation of coil coating markets that are sufficiently environmentally benign and do not harm the environment. The range of applications for the next generation of goods being produced in this way expands the market for coil coating.

The Russia-Ukraine conflict hampered the possibility of a COVID-19 pandemic-related economic rebound. Financial restrictions on several nations, an increase in commodity prices, and supply chain disruption have caused inflation in the prices of goods and services and impacted numerous markets worldwide. Due to increased contribution activity, the post-pandemic and other disruption coil coating market will resume being the fastest growing market.

For instance, to boost steel and coating production in Shreveport in anticipation of rising demand from the construction industry, Ternium USA Inc., a US-based steel manufacturing enterprise, committed $98 million to expand the Shreveport site in December 2021. As a result, the growth of the coil coatings market is driven by the construction sector's rising need for coil coating. Thus, driving the Coil Coating market revenue.

Coil Coating Market Segment Insights

Coil Coating Resin Type Insights

The Coil Coating market segmentation, based on Resin Type, includes Polyester, Polyvinylidene Fluorides (PVDF), Polyurethane, Silicone Modified Polyester, and Plastisol. Polyester dominated the market, accounting for 48% of the market share (USD 2.48 billion) in 2022. Due to its great quality and application in robust Construction, Polyester is one of the coil casting sector's most affordable materials.

Coil Coating End-User Insights

The Coil Coating market segmentation, based on End-User, includes Construction, Automotive, Electrical & Electronics, Consumer Appliances, and Others. The Construction category generated the highest revenue share of about 52% (USD 2.7 billion) in 2022. An increase in construction activities, whether residential or commercial, lead to the huge demand for coil coating as it is used in roofing, panels, and lamination of metals before fabrication into end output.

Figure 1:  Coil Coating Market by End-User, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Coil Coating Regional Insights

By Region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific area dominates this market, accounting for 45.8% of the market share in 2022, owing to increased construction activities and widespread industrialization. In addition, government-supportive policies and subsidies for manufacturing coil coating will boost the market growth in this Region during the projected timeframe.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  Coil Coating Market Share by Region 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s Coil Coating market accounts for the second highest market share due to increased disposable income and construction activity. Further, the German Coil Coating market holds the largest market share, and the UK Coil Coating market is expected to be the highest-growing market in the European Region.

The North America Coil Coating Market is anticipated to grow steadily during the projected period. This is due to established industries’ rising demand for coil Coating.

Moreover, China’s Coil Coating market dominates the market share, and the Indian Coil Coating market is expected to grow steadily in the Asia-Pacific region.

For instance, The Department of Energy estimates that 48% of the energy used in American households goes toward heating and cooling. Coil coatings are a good choice for interior and exterior building applications due to their capacity to be molded, resilience, endurance, texture, and environmental advantages.

Coil Coating Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to increase their production, which will help the Coil Coating market to grow further. Market participants are also undertaking a strategic approach to expand and strengthen their footprint, with important market developments including new product lines, partnerships, mergers and acquisitions, Capital expenditure, and strategic alliances with other organizations. The Coil Coating industry must offer cost-effective and sustainable solutions to expand and survive in a fragmented market climate.

Manufacturing locally to minimize expenses at the operational level is one of the key business tactics used by organizations in the Coil Coating industry to benefit customers and capture untapped markets. In the nick of time, the Coil Coating industry has offered significant advantages to Construction. Major players in the Coil Coating market, including BASF SE, Henkel AG, KGaA, I. DuPont, Wacker Chemie AG, Nippon Paint Holdings Co.ltd, Axalta Coating Systems L.L.C, Akzo Novel NV, PPG Industries Inc., The Dow Chemical Company, and Valspar Corporation., are attempting to capture the majority of the market share by investing in research and development operations to produce sustainable and affordable options.

Beckers are the top provider of coil coatings and an essential industrial paint supplier around the globe. It was established by the Swedish family company Lindéngruppen, which specializes in the long-term growth of industrial businesses. The corporate office of Beckers is located in Berlin, Germany. The business innovatively offers the specialized outstanding performance of coating solutions while safeguarding the environment. Beckers is an international corporation with 1,800 staff members across 23 offices in 17 nations, offering products and tailored solutions to clients in 60 nations with the knowledge gained from its 150-year history. In February 2023, Initial commercial paint formulas for dual UV and electric charge-beam drying in the coil coating sector were created by Beckers Pioneers. The formulation can provide up to double surface coverage per kilogram of paint, improving industry productivity by reducing VOC and CO2 emissions. The construction industry's full-scale implementation of cutting-edge dual UV/EB curing technology for coil coating results from long-term cooperation among Beckers and its clients.

A part of Modine Manufacturing Company, Modine Coatings, specializes in resistant-to-corrosion coatings technology for the HVAC sector. They create high-quality products that shield machinery from corrosive damage and other environmental effects. All coating requirements are supported by their range of products and services. In January 2022, Modine Coating will display innovative GulfCoat technology at the AHR Expo. The company will introduce the GulfCoat circuit shield and AM anti-microbial products during the event. GulfCoat AM prevents the growth of bacteria and fungus by using silver ions from the Agion chemical and the circuit shield guard against damage to electronic components used in outdoor settings.

At METALCON 2023, AkzoNobel experts in Coil & Extrusion Coatings provided the most recent insights into innovative technologies, products, and trends influencing the metal coatings market. Furthermore, tomorrow marks the first day of the Specialty Equipment Market Association (SEMA) Show, where AkzoNobel Automotive and Specialty Coatings (ASC) experts will display vehicles and new collaborations.

In 2024, Sherwin-Williams' Coil Coatings division (Minneapolis, Minn.) will introduce Emulate, a collection of printed metal coating hues for product and design experts. The collection is inspired by nature's beauty and strives to enhance the appearance of natural building materials such as wood, stone, and metal, allowing architects and product makers to fulfill their idea in a new way.

Key Companies in the Coil Coating market include

• BASF SE


• Henkel AG


• KGaA


• DuPont


• Wacker Chemie AG


• Nippon Paint Holdings Co.ltd


• Axalta Coating Systems L.L.C


• Akzo Novel NV


• PPG Industries Inc.


• The Dow Chemical Company


• The Valspar Corporation

Coil Coating Industry Developments

February 2023: Initial commercial paint formulas for dual UV and electric charge-beam drying in the coil coating sector were created by Beckers Pioneers. The formulation can provide up to double surface coverage per kilogram of paint, improving industry productivity by reducing VOC and CO2 emissions. The construction industry’s full-scale implementation of cutting-edge dual UV/EB curing technology for coil coating results from long-term cooperation among Beckers and its clients.

April 2022: For $500 million, BlueScope purchased cornerstone construction materials. The acquisition intends to enhance the company's investment in North America and manufacturing capacity.

January 2022: The innovative GulfCoat technology will be displayed at the AHR Expo, stated Modine Coatings, a renowned manufacturer of commercial and industrial HVAC coatings with headquarters in the United States. The company will introduce the GulfCoat circuit shield and AM anti-microbial products during the event. GulfCoat AM prevents the growth of bacteria and fungus by using silver ions from the Agion chemical and the circuit shield guard against damage to electronic components used in outdoor settings.

Coil Coating Market Segmentation

Coil Coating Resin Type Outlook

• Polyester


• Polyvinylidene Fluorides (PVDF)


• Polyurethane


• Silicone Modified Polyester


• Plastisol

Coil Coating End-User Outlook

• Construction


• Automotive


• Electrical & Electronics


• Consumer Appliances


• Others

Coil Coating Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America