Pet Film Coated Steel Coil Market Overview
As per MRFR analysis, the Pet Film Coated Steel Coil Market Size was estimated at 5.87 (USD Billion) in 2022.The Pet Film Coated Steel Coil Market Industry is expected to grow from 6.19(USD Billion) in 2023 to 10.0 (USD Billion) by 2032. The Pet Film Coated Steel Coil Market CAGR (growth rate) is expected to be around 5.48% during the forecast period (2024 - 2032).
Key Pet Film Coated Steel Coil Market Trends Highlighted
With the ongoing changes in the market, the Pet Film Coated Steel Coil industry is likely to experience immense growth. Such growth can be attributed to the increasing use of flexible packaging, particularly in food & beverages, as it offers convenience and a longer shelf life. Additionally, the need for lightweight and strong materials is driving the demand for Pet Film Coated Steel Coil in the automotive and construction industries.
Some of the trends affecting the market are improvements in coating technology to enhance mechanical corrosion resistance and printing of the metal and its components. In line with these factors, the demand for packaging materials that are sustainable as well as recyclable is on the rise as many consumers are becoming increasingly conscious about the environment. In line with this, Pet Film Coated Steel Coil provides the same since customers and laws are pushing for less plastic use.
The Pet Film Coated Steel Coil market presents chances for businesses to avail of packaging that is effective and novel in nature. The use of the internet to buy products, along with the linkage of all transactions with buyers' and sellers' websites, creates a need for flexible packaging that adheres to the surfaces of products and extends their shelf life. Different types of smart packaging and Internet of Things integration are likely to create environments for better tracking of products, significantly surging the opportunity of supporting market enlargement.
Figure1: Pet Film Coated Steel Coil Market, 2018 - 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Pet Film Coated Steel Coil Market Drivers
Emerging Applications in Consumer Electronics
The increased usage of superior electronic gadgets, including smartphones, laptops, and tablets, has propelled the demand for lightweight and durable materials. The Pet Film Coated Steel Coil Market Industry offers the perfect blend of these properties and can be used for a number of components in consumer electronics. This product has a tenacious resistance to both rust and scratches and may be molded into any complex profile. In addition, it is characterized by high printability and, therefore, features striking graphics.This describes the vivid designs that contribute to the overall aesthetic appeal of consumer electronics before their final sale to customers.
Advancements in the Packaging Industry
The ever-evolving packaging industry, along with the changing demands of consumers and businesses, provides new and beneficial solutions. Pet Film Coated Steel Coil Market Industry is a versatile range of applications in such industries, which make full use of its properties. First of all, it is light and non-bulky yet serves as an excellent barrier for packaging. Besides, it is printable. Such features make the material especially popular in the packaging of food and beverages, pharmaceuticals and other products.Pet Film Coated Steel Coil packaging effectively protects from moisture, oxygen, and other external impacts. In addition to this, it can be laminated with other materials as well to ensure that the packaging is suitable for the product.
Rising Demand from Automotive Sector
Lightweight materials are widely used in the automotive industry to enhance fuel efficiency and reduce emissions. Pet Film Coated Steel Coil Market Industry is a lightweight alternative to the materials used for the production of various components and parts such as interior trim, door panels, and dashboards. Its advantages include considerable strength, a long life of exploitation, and good-looking features. It means for the automotive manufacturers they can improve the quality of their cars by implementing the properties of the new item.Being easily moldable, this material allows the creation of ergonomically effective designs and ideas that can be efficiently used in the sector.
Pet Film Coated Steel Coil Market Segment Insights
Pet Film Coated Steel Coil Market Type Insights
The Pet Film Coated Steel Coil Market is segmented by type into pre-painted, post-painted, and laminated. The pre-painted segment is expected to hold the largest market share in 2023, accounting for over 55% of the market. The post-painted segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing demand for customized and aesthetic steel coils. The laminated segment is expected to account for a significant market share in 2023, due to its superior properties such as high strength, corrosion resistance, and printability.The pre-painted segment is primarily driven by its cost-effectiveness, durability, and ease of maintenance. Pre-painted steel coils are coated with a layer of paint before being rolled, which provides them with excellent resistance to corrosion and weathering. The post-painted segment is gaining popularity due to its ability to provide a wide range of colors and finishes, allowing for greater design flexibility. The laminated segment is expected to witness significant growth in the coming years, owing to its superior properties such as high strength, corrosion resistance, and printability.The market growth is primarily driven by the increasing demand for steel coils in various industries such as automotive, construction, and appliances. The growing demand for lightweight, durable, and aesthetic materials is expected to further drive the growth of the Pet Film Coated Steel Coil Market in the coming years.
Figure2: Pet Film Coated Steel Coil Market, By Type, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Pet Film Coated Steel Coil Market End-Use Industries Insights
One of the driving factors that has a determinant impact on the Pet Film Coated Steel Coil Market is the end-use industries segment. As such, construction is supposed to be one of the key end-user industries on the market in 2023 as an increasing number of building and infrastructure projects demand more durable and lighter materials. Moreover, the automotive industry consumes a considerable share of Pet Film Coated Steel Coil as more and more cars feature Pet Film Coated Steel Coil in their interior and exterior due to their corrosion resistance and appearance.Home appliances, such as refrigerators and washing machines, are attributed to the demand since Pet Film Coated Steel Coil is known for its exceptional moisture and wear resistance. Tamper-proof and protective packaging solutions and the overall demand in the food and beverage industry are other end-use industries popularizing Pet Film Coated Steel Coil. Finally, the demand is diversified among other industries, such as electronics, healthcare, and furniture.
Pet Film Coated Steel Coil Market Grade Insights
The Pet Film Coated Steel Coil Market is segmented by Grade into Commercial Grade, Embossed Grade, and High-Performance Grade. The Commercial Grade segment held the largest market share in 2023, accounting for over 50% of the market revenue. The Embossed Grade segment is expected to witness the highest growth rate during the forecast period, owing to its increasing demand in the automotive and construction industries. The High-Performance Grade segment is expected to hold a significant market share, driven by its superior properties and applications in demanding environments.
The Pet Film Coated Steel Coil Market segmentation provides a detailed analysis of the market, enabling stakeholders to identify key growth areas and make informed decisions.
Pet Film Coated Steel Coil Market Coating Thickness Insights
The Coating Thickness segment of the Pet Film Coated Steel Coil Market is segmented into 'Less than 10 microns', '10-20 microns', '20-30 microns', and 'More than 30 microns'. The 'Less than 10 microns' segment held the largest market share in 2023, accounting for around 35% of the Pet Film Coated Steel Coil Market revenue. The '10-20 microns' segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing demand for lightweight and durable materials in various industries. The '20-30 microns' and 'More than 30 microns' segments are also expected to witness significant growth over the forecast period, driven by the rising demand for high-performance materials in automotive, construction, and packaging industries.
Pet Film Coated Steel Coil Market Surface Treatment Insights
The Surface Treatment segment of the Pet Film Coated Steel Coil Market is segmented into Smooth, Textured, Embossed, and Anti-fingerprint. In 2023, the Smooth segment held the largest market share of 40.3% and is expected to continue to dominate the market throughout the forecast period. The Textured segment is expected to grow at the highest CAGR of 6.5% from 2024 to 2032 due to increasing demand for aesthetic and functional applications. The Embossed segment accounted for a market share of 28.5% in 2023 and is expected to grow steadily over the forecast period.The Anti-fingerprint segment is expected to witness significant growth in the coming years, owing to its ability to resist fingerprints and smudges, making it ideal for applications in electronics and appliances.
Pet Film Coated Steel Coil Market Regional Insights
Regionally, North America held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. The growth in this region can be attributed to the increasing demand for lightweight and durable materials in the automotive and construction industries. Europe is another significant market for Pet Film Coated Steel Coil, with a market size of USD 1.8 billion in 2023. The growing demand for energy-efficient appliances and the rising construction activities are driving the market growth in this region. APAC is expected to witness the fastest growth over the forecast period, with a CAGR of 6.2%.The increasing demand for consumer electronics and the growing population in this region are contributing to the market expansion. South America and MEA are also expected to contribute to the overall market growth, although to a lesser extent compared to the other regions.
Figure3: Pet Film Coated Steel Coil Market, By Regional, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Pet Film Coated Steel Coil Market Key Players And Competitive Insights
Pet Film Coated Steel Coil Market Industry is comprised of major companies that are mainly focusing on developing new products to maintain their position in the competitive market. Key players in the Pet Film Coated Steel Coil Market Industry are focused on expanding their regional presence and product line, which helps to increase the market share. The increasing demand for lightweight and durable materials in various end-use industries and the rising adoption of Pet Film Coated Steel Coil in the automotive, construction and packaging sectors is the prime factor to drive the Pet Film Coated Steel Coil Market industry.
Nippon Steel Corporation is one of the well-known players in the Pet Film Coated Steel Coil Market Industry. The company has a strong market presence in the Asia Pacific region and is expanding its reach through partnership and acquisition. Nippon Steel Corporation provides a broad range of Pet Film Coated Steel Coil types that include high-strength steel, corrosion resistance steel and so on. The company’s importance on innovation and customer satisfaction helps it stay competitive in the marketplace.
ArcelorMittal is one of the key players in this market and has a strong presence. The Company has a presence across more than 60 countries. ArcelorMittal provides a wide variety of Pet Film Coated Steel Coil portfolios that include automotive steel, construction steel, packaging steel, and so on. Its commitment to sustainability and strong distribution network are the important factors that force the company to stay competitive in this marketplace. ArcelorMittal always focuses on research and development to provide innovative Pet Film Coated Steel Coil solutions to the end users.
Key Companies in the Pet Film Coated Steel Coil Market Include
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ThyssenKrupp
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Voestalpine AG
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Yieh Phui Enterprise Holdings
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Baosteel
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JFE Steel Corporation
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Magnitogorsk Iron and Steel Works
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Hyundai Steel Company
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Tata Steel
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Ta Chen Stainless Steel Company
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POSCO
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NLMK
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Salzgitter AG
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ArcelorMittal
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Nippon Steel Corporation
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Ternium
Pet Film Coated Steel Coil Market Industry Developments
Recent developments in the Pet Film Coated Steel Coil market indicate a growing demand for these products in various industries, including packaging, construction, and automotive. The market is expected to witness significant growth over the next decade, driven by factors such as rising disposable incomes, increasing urbanization, and technological advancements. Major players in the market are investing in research and development to enhance the functionality and performance of Pet Film Coated Steel Coil, leading to the introduction of new products and applications. The market is also witnessing strategic partnerships and collaborations between key players to expand market reach and gain a competitive edge.
Pet Film Coated Steel Coil Market Segmentation Insights
Pet Film Coated Steel Coil Market Type Outlook
- Pre-painted
- Post-painted
- Laminated
Pet Film Coated Steel Coil Market End-Use Industries Outlook
- Construction
- Automotive
- Home Appliances
- Packaging
- Others
Pet Film Coated Steel Coil Market Grade Outlook
- Commercial Grade
- Embossed Grade
- High-Performance Grade
Pet Film Coated Steel Coil Market Coating Thickness Outlook
- Less than 10 microns
- 10-20 microns
- 20-30 microns
- More than 30 microns
Pet Film Coated Steel Coil Market Surface Treatment Outlook
- Smooth
- Textured
- Embossed
- Anti-fingerprint
Pet Film Coated Steel Coil Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
5.87(USD Billion) |
| Market Size 2023 |
6.19(USD Billion) |
| Market Size 2032 |
10.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.48% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
ThyssenKrupp, Voestalpine AG, Yieh Phui Enterprise Holdings, Baosteel, JFE Steel Corporation, Magnitogorsk Iron and Steel Works, Hyundai Steel Company, Tata Steel, Ta Chen Stainless Steel Company, POSCO, NLMK, Salzgitter AG, ArcelorMittal, Nippon Steel Corporation, Ternium |
| Segments Covered |
Type, End-Use Industries, Grade, Coating Thickness, Surface Treatment, Regional |
| Key Market Opportunities |
Growing demand for lightweight vehicles Increasing infrastructure development Rise in disposable income Technological advancements Expanding food and beverage industry |
| Key Market Dynamics |
Growing demand from packaging automotive and construction industries Technological advancements and innovation Fluctuating raw material prices Rising consumer awareness and environmental concerns |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Pet Film Coated Steel Coil Market is expected to be valued at 6.19 Billion USD in 2023.
The Pet Film Coated Steel Coil Market is expected to grow at a CAGR of 5.48% from 2024 to 2032.
The key regions contributing to the growth of the Pet Film Coated Steel Coil Market are Asia-Pacific, Europe, and North America.
Major applications of Pet Film Coated Steel Coil include food packaging, beverage packaging, and pharmaceutical packaging.
Key competitors in the Pet Film Coated Steel Coil Market include Jindal Steel and Power, Nippon Steel Corporation, and ArcelorMittal.
The Pet Film Coated Steel Coil Market is expected to be valued at 10 Billion USD in 2032.
Key factors driving the growth of the Pet Film Coated Steel Coil Market include increasing demand for food and beverage packaging and rising consumer awareness about sustainability.
Challenges faced by the Pet Film Coated Steel Coil Market include fluctuations in raw material prices and intense competition from alternative packaging materials.
Opportunities for growth in the Pet Film Coated Steel Coil Market include increasing demand from emerging markets and technological advancements in packaging.
Key trends in the Pet Film Coated Steel Coil Market include the adoption of sustainable packaging solutions and the use of lightweight materials.
