Coil Coatings for Building & Construction Market Research Report Information By Substrate (Steel, and Aluminium) By Resin Type (Polyester, Fluropolymer, Siliconized Polyester, Polyurethane (PU), Plastisol, and Others) By Product Type (Topcoats, Primers, Backing Coats, Others) By Application (Residential, Commercial, Industrial) and By Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa)-Global Forecast to 2032

Global Coil Coatings for Building & Construction Market Overview

Coil Coatings for Building & Construction Market Size was valued at USD 4,773.6 million in 2023. The Coil Coatings for Building & Construction industry is projected to grow to USD 7,139.6 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.48% during the forecast period (2024 - 2032). The Global coil coating for building & construction market is expected to be driven by the advancement of the construction industry. Coil coatings are extensively used in metal roofing and wall cladding systems. The coatings provide protection against weathering, UV radiation, and corrosion, ensuring the durability and longevity of the metal panels. The uniform application of coil coatings ensures consistent quality and appearance across the entire surface of the panels. Additionally, the growing preference for metal building materials such as steel and aluminum have significant implications for the demand for coil coating in the building and construction market. Metal materials, such as steel and aluminum, are gaining popularity in the construction industry due to their durability, strength, and aesthetic appeal.  Metal panels, roofs, and sheets are being used extensively in commercial and residential buildings, providing artistic appeal and withstanding harsh weather conditions. The use of metal in construction requires coil coating to enhance its weather resistance and protect it from corrosion thus, driving the demand for coil coatings. However, the fluctuation in the prices of raw materials can impact the overall production costs making it challenging for coil coating manufacturers to maintain competitive pricing and restrain demand, especially during periods of high volatility. Furthermore, diversification of coil coating into niche applications within the building & construction industry provides significant opportunity for the growth of coil coatings market.  

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

Coil Coatings for Building & Construction Market Trends

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  ADVANCEMENT OF CONSTRUCTION ACTIVITIES

  
  

The construction industry's expansion, particularly in emerging economies, is a significant driver of the coil coatings market. Coil coatings are extensively used in metal roofing and wall cladding systems. The coatings provide protection against weathering, UV radiation, and corrosion, ensuring the durability and longevity of the metal panels. The uniform application of coil coatings ensures consistent quality and appearance across the entire surface of the panels. Additionally, coil coatings are applied to metal components used in architectural elements such as facades, window frames, doors, and curtain walls. These coatings enhance the aesthetic appeal of the building while providing protection against environmental factors and maintaining the structural integrity of the metal components. Thus, the advancing construction activities including residential and non-residential construction is anticipated to drive the demand for coil coatings for building & construction over the forecast period.

According to the data published by Oxford Economics, the construction industry is anticipated to reach at USD 13.9 trillion by 2037 with US, China, and India being the top construction markets. Additionally, according to the Invest India, by 2030, it is estimated that approximately 600 million people will be living in urban centres, creating a demand for an additional 25 million mid-end and affordable housing units. This surge in urbanization and population growth is driving the need for construction activities to meet the housing demands of the growing population. Additionally, the outlay for the Pradhan Mantri Awas Yojana (PMAY) is being increased by 66% to over INR 79,000 crore. The enhanced outlay for PMAY reflects the government's commitment to providing affordable housing to the weaker sections of society, lower-income groups, urban poor, and rural poor. Coil coatings play a crucial role in these construction activities. They are used in various applications to enhance the durability, aesthetics, and performance of metal components used in these building and construction thus, driving their demand over the forecast period.

GROWING PREFERENCE FOR METAL BUILDING MATERIALS

The growing preference for metal building materials such as steel and aluminium has significant implications for the demand for coil coating in the building and construction market. Coil coating is the industrial process of applying coatings to metal, providing tightly bonded finishes and ensuring uniform paint coverage on the entire surface of the metal. Metal materials, such as steel and aluminium, are gaining popularity in the construction industry due to their durability, strength, and aesthetic appeal.  Metal panels, roofs, and sheets are being used extensively in commercial and residential buildings, providing artistic appeal and withstanding harsh weather conditions. The use of metal in construction requires coil coating to enhance its weather resistance and protect it from corrosion, thus, driving the demand for coil coatings with growing preference for metal building materials.

One of the main drivers behind the popularity of metal building designs is their cost-effectiveness. In recent years, supply chain disruptions and capacity restrictions have led to significant price increases for many standard construction materials. However, metal has remained relatively affordable, making it a more attractive option for builders and developers. For instance, lumber prices experienced a staggering increase of over 300% between April 2020 and May 2021, reaching USD 1,600 per thousand board feet. On the other hand, steel prices also saw a substantial increase of 215%, but the median prices ranged from USD 500 to USD 800, making it a comparatively more cost-effective choice. Thus, the affordability of metal building materials, such as steel and aluminium, has made them a preferred choice for construction projects. Builders and developers are turning to metal as a cost-effective alternative to mitigate the impact of rising material prices. This trend has contributed to the growing popularity of metal building designs in the construction industry.

Steel remains the preferred building material for a wide range of construction and infrastructure projects, and its future is being influenced and enhanced by emerging technologies. Building Information Modeling (BIM), advancements in manufacturing processes, and the adoption of sustainable practices are driving innovation in steel production, resulting in the creation of stronger steel and improved project outcomes. According to Service Steel Warehouse, the global market for structural steel is expected to experience significant growth, with a projected market valuation of USD166 billion by 2033 and a CAGR of 4.8%. This growth is driven by the requirement for various steel components in the construction of prefabricated buildings, both residential and non-residential. Additionally, the World Steel Association predicts that the global demand for steel will experience a rebound of and witness a growth by 1.7% in 2024, reaching 1,854.0 Mt. This growth is driven by a combination of factors, including infrastructure development, urbanization, and increased investments in construction projects worldwide. Thus, the growing demand for metals such as steel in the construction industry is further anticipated to drive the demand for coil coating used in these metals for providing strength, durability, and corrosion protection over the forecast period.

Coil Coatings for Building & Construction Market Segment Insights

Coil Coatings for Building & Construction by Substrate Insights

The Coil Coatings for Building & Construction Market segmentation, based on substrate has been segmented as steel and aluminum. In 2023, the steel segment held the market revenue share of 58.44% and this segment is expected to grow at a CAGR of 4.62% in the forecast period 2024-2032. Steel is a widely used substrate in the construction industry due to its strength, durability, and cost-effectiveness. In the context of coil coatings, steel refers to flat-rolled sheets or coils of steel that are coated with protective layers for various construction applications. These coatings not only enhance the aesthetics of steel surfaces but also provide crucial protection against corrosion, weathering, and abrasion. Coil coatings on steel are applied using advanced processes such as coil coating lines, where the steel substrate passes through multiple stages including cleaning, chemical treatment, primer application, coating, and curing. The coatings can be polyester, polyvinylidene fluoride (PVDF), or other specialized formulations tailored to specific performance requirements. In building and construction, steel coil coatings find extensive use in roofing, wall panels, cladding systems, and structural components. They offer excellent color retention, UV resistance, and thermal performance, making them suitable for both interior and exterior applications. Steel coil coatings also contribute to sustainability efforts by improving energy efficiency and reducing maintenance needs over the long term.

Coil Coatings for Building & Construction by Resin Type Insights

In 2023, the polyester segment held the largest market revenue share of 62.05% and is expected to grow at a CAGR of 4.68% in the projected period. Polyester resin is one of the most used coatings in the building and construction industry due to its cost-effectiveness and versatility. These coatings offer good durability, weather resistance, and color retention properties. Polyester coil coatings are applied through a process that involves cleaning the substrate, applying a primer, followed by the polyester topcoat, and then curing. They are suitable for various architectural applications such as roofing, cladding, and structural components, providing a wide range of color options and design flexibility. One of the main drivers for polyester resin coil coatings is their cost-effectiveness coupled with satisfactory performance. Polyester coatings offer a balance between affordability and durability, making them a popular choice for construction projects with budget constraints. Additionally, the availability of a wide range of color options and design flexibility further drives the demand for polyester resin coatings, as they can be customized to suit different architectural styles and preferences.

Coil Coatings for Building & Construction by Product Type Insights

In 2023, the topcoats segment held the largest share of 79.76% of the market revenue, and in the forecast period, it is anticipated to grow by 4.57%. Topcoats are a crucial segment of coil coatings used in building and construction applications. These coatings are applied as the final layer over primers and backing coats to provide a protective and decorative finish to metal substrates. The primary function of topcoats is to enhance the aesthetics of surfaces while offering resistance against environmental factors such as UV radiation, weathering, corrosion, and mechanical damage. Topcoats play a vital role in preserving the color, gloss, and texture of coated surfaces over time. They are available in a variety of formulations, including polyester, polyurethane, PVDF, FEVE, and other specialty coatings. Each type of topcoat offers specific advantages in terms of durability, color retention, chemical resistance, and performance under different climatic conditions. In building and construction, topcoats are extensively used for roofing, wall panels, cladding systems, doors, window frames, and architectural elements. They contribute to the longevity, aesthetics, and functionality of metal components, making them suitable for both interior and exterior applications.

Coil Coatings for Building & Construction by Application Insights

In 2023, the residential segment held largest revenue share of 58.80%, and in the forecast period, it is anticipated to grow by 4.74%. Residential coil coatings are specifically designed for applications in homes, apartments, and other residential buildings. These coatings are formulated to provide protection against weather elements such as sunlight, rain, and humidity, ensuring the durability and aesthetics of residential structures. They offer vibrant colors, superior gloss retention, and resistance to scratches and abrasions, enhancing the overall appearance of buildings. Moreover, residential coil coatings are often eco-friendly, meeting sustainability requirements for modern housing solutions. They contribute to energy efficiency by reflecting sunlight and reducing heat absorption, thereby supporting environmental conservation efforts.

Coil Coatings for Building & Construction Key Market Players & Competitive Insights

The global coil coatings market for building and construction is a moderately competitive landscape with several key players vying for market share. The market is driven by the growing demand for energy-efficient and sustainable construction materials, as well as the increasing focus on advanced coating technologies that offer superior protection and aesthetics for metal surfaces. The major players in the global coil coatings market for building and construction include AkzoNobel NV, PPG Industries, Henkel, Wacker Chemie AG, Beckers Group, Sherwin-Williams Company, Groupe Mäder, Axalta Coating Systems, Nipponpaint Industrial Coatings Co., Ltd., Arkema, and Northern Coatings and Chemical Co. These companies have established a strong presence in the market through their extensive product portfolios, innovative technologies, and strategic partnerships. They continue to invest in research and development to introduce new and improved products that cater to the evolving needs of their customers. The global coil coatings market for building and construction is expected to grow significantly in the coming years, and these companies are well-positioned to capitalize on this growth.

PPG Industries: PPG Industries places a strong emphasis on creating sustainable and innovative products that align with global macro trends. By investing in research and development, the company continuously introduces new products and technologies that cater to evolving customer needs while prioritizing environmental sustainability. This focus on eco-friendly solutions not only differentiates PPG in the market but also presents significant growth opportunities as the world increasingly values sustainability.  With operations in over 70 countries and a robust global footprint, PPG Industries strategically expands into emerging regions to capitalize on the rising demand for coatings and specialty materials in developing economies. By leveraging its international presence and acquisitions in new markets, PPG positions itself to tap into new growth opportunities and strengthen its market position.

Henkel: Henkel is focused on a long-term framework that aims to drive purposeful growth and win in the 20s. This strategic approach involves creating superior value for customers and consumers, reinforcing sustainability leadership, and empowering employees to grow both professionally and personally. Key elements of Henkel's strategic framework include maintaining a winning portfolio, excelling in innovation, sustainability, and digitalization, and ensuring future-ready operating models supported by a collaborative culture and empowered workforce. Henkel's commitment to sustainability is evident in its efforts to increase the proportion of renewable energy sources, strengthen the sustainability of its product portfolio, and engage in partnerships to promote sustainability goals. Additionally, the company has made significant strides in digitalization, optimizing its digital sales channels and creating new business opportunities through digital platforms like RAQN. 

Key Companies in the Coil Coatings for Building & Construction Market includes.

• AkzoNobel NV


• PPG Industries


• Henkel


• Wacker Chemie AG


• Beckers Group


• Sherwin-Williams Company


• Groupe Mäder


• Axalta Coating Systems


• Nipponpaint Industrial Coatings Co.,LTD.


• Arkema


• Northern Coatings and Chemical Co.


• Others

Coil Coatings for Building & Construction Industry Developments

March 2024: AkzoNobel successfully completed a significant capacity expansion project at its production facility in Bac Ninh province, located near Hanoi in Vietnam. This strategic investment has bolstered AkzoNobel's presence in Asia while emphasizing its commitment to sustainable manufacturing practices.

July 2023: PPG announced the completion of a major expansion project at its powder coatings plant located in Sumaré, Brazil. The $2.7 million (13 million Brazilian reals) investment has increased the production capacity of the facility by 40%, with the unit expected to reach full capacity this month.

March 2023: Beckers announced the establishment of a new Sustainable Innovation Centre dedicated to the development of more sustainable coil coating technologies. This initiative underscores Beckers' commitment to innovation and sustainability in the coatings industry, aiming to drive the advancement of eco-friendly solutions for coil coating applications.

Coil Coatings for Building & Construction Market Segmentation

Coil Coatings for Building & Construction Substrate Outlook

• Steel


• Aluminium

Coil Coatings for Building & Construction Resin Type Outlook

• Polyester


• Fluropolymer
  
  
  
  • PVDF
  
  
  • FEVE
  
  
  
  


• Siliconized Polyester


• Polyurethane (PU)


• Plastisol


• Others

Coil Coatings for Building & Product Type Outlook

• Topcoats


• Primers


• Backing Coats


• Others

Coil Coatings for Building & Construction Application Outlook

• Residential


• Commercial


• Industrial

Coil Coatings for Building & Construction Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Denmark
  
  
  • Norway
  
  
  • Sweden
  
  
  • Finland
  
  
  • Iceland
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Bangladesh
  
  
  • Australia & New Zealand
  
  
  • Indonesia
  
  
  • Singapore
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Chile
  
  
  • Rest of South America
  
  
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • Qatar
  
  
  • UAE
  
  
  • Oman
  
  
  • Bahrain
  
  
  • Kuwait
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa