Rising demand from end-use industries, mainly construction and automotive sectors is elevating market value during the assessment period. The global functional coil coatings industry sales are experiencing healthy growth surpassing a valuation of US$ 884 million during the forecast period of 2023 to 2033 according to a recent report published by Future Market Insights.
Rapid urbanization, rising infrastructure development, and growth in disposable incomes is elevating the construction industry. This growth is expected to bolster the demand for functional coil coatings over the forecast period.
The growing trend of sustainability is increasing the demand for clean and green buildings worldwide. This creates notable demand for solar reflective, heat management, antimicrobial and other functional coil coatings which is benefiting the market.
With the onset of the COVID-19 pandemic, awareness towards the need of preventing communicable diseases has increased tremendously. Consequently, demand for antimicrobial coatings is expected to witness remarkable growth during the forecast period.
Stringent regulations imposed in terms of composition and production of functional coil coatings by regulatory bodies is expected to be a major restraining factor. Navigating the challenges posed by these factors will prove crucial for continued growth of the global functional coil coatings market.
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Key Takeaways from the Global Functional Coil Coatings Market Study
- Steel coatings will account for over 75% of the global value share in 2021, owing to wider scope of applications through the construction sector.
- Solar reflective coatings are gaining ground with a CAGR of 5.2% through 2031, supported by applications in the transportation and infrastructure sectors.
- China holds the lead in East Asia with an estimated 66.5% value share by 2031, driven by a large-scale, matured chemical industry.
- Russia is emerging as a major market for functional coil coatings in Europe at a valuation of over US$ 13 Mn in 2021, owing to investments in the construction sector.
- The U.S. accounts for approximately 89.8% of the value share in North America through 2031, owing to the presence of major construction and automotive players
Global Functional Coil Coatings Market: Participant Insights
Key coil coating manufacturers are indulging in research and development activities for product innovation and development to accommodate the changing requirements of the large-scale consumer base.
Key Companies Profiled
- Akzo Nobel N.V.
- JK Coil Coating Pvt Ltd
- Jotun Group
- Dura Coat Products, Inc.
- Noroo Coil Coatings
- Titan Coatings Inc.
- Eastman Chemical Company
- Modine Manufacturing Inc.
- Chemetall Group
- ALCEA
- Recubrimientos Plasticos SA
- Italcoat Srl.
- Lord Corporation
- Sherwin-Williams
- PPG Industries
- Axalta Coating Systems
- The Chemours Company
- NANO-X GmbH
- OZKEM PTY LTD
- Blygold International BV
- HB Fuller
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Global Functional Coil Coatings Market by Category
By Application:
- Steel Coatings
- Aluminum coatings
By Product Type:
- Topcoat
- Primer
- Backing Coat
- Others
By Function Type:
- Anti-Graffiti Coating
- Antimicrobial coating
- Solar Reflective Coating
- Self-Cleaning Coating
- Self-Healing Coating
- Anti Dust Coating
- Nox Reducing Coating
- Photovoltaic Coating
- Polychromic Coating
- Laminating Film
- Fire Resistant Coating
- Heat Saving Coating
- Scratch Resistant Coating
By Material Type:
- Polyester
- Epoxy
- PVC/Vinyl
- Plastisols
- Acrylic
- Polyurethane
- PVDF
- Silicone
By End-Use:
- Construction
- Transportation
- Consumer Durable Goods
- Refrigerator
- Washing Machine & Dishwasher
- Over & Toasters
- Others
- HVAC
- Metal Furniture
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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