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Functional Coil Coatings Market - Forecast(2023 - 2028)
Overview
Functional Coil
Coatings Market size is forecast to reach $566 million by 2025, after growing
at a CAGR of 5% during 2020-2025. Metal coated with functional coil-coating provides
features such as flexibility in design, improved corrosion & weathering
resistance, and abundant color & texture availability. These properties
make functional coil coatings an ideal choice for coating metal roofs, wall
panels, storage units, and garage doors to increase the durability of the
infrastructure. In addition, it offers advantages such superior chemical &
water resistance, prolonged anticorrosion resistance, enhanced aesthetics, and
higher paint adherence. These factors have significantly increased the demand
for functional coil coating in the automotive, home appliances, and furniture
industries. In addition, recycling of the coating waste and growing use of
organic coating materials are anticipated to provide various
opportunities for market growth in the coming years.
Report Coverage
The report: “Functional Coil Coatings Market– Forecast
(2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments
of the Functional Coil Coatings Industry.
Key Takeaways
·
Asia-Pacific dominates the
global functional coil coating market, owing to increased manufacturing &
construction activities and various government initiatives such as 100 smart
cities and Housing for all by 2022 in the region.
·
Functional coil-coated metal is
used widely in the furniture industry, due to its design flexibility and
enhanced corrosion resistance. Increasing consumer disposable income and
improving living standards fuels the demand for modern furniture, which,
in turn, is expected to increase the need for functional coil-coated metals.
·
However, growing demand for
lightweight materials in the automobile industry is hindering functional coil
coating market growth.
·
Due
to Covid 19 epidemic, automobile and component manufacturing plants are being
shuttered around the world, and vehicle sales are dropping. This is impacting functional
coil coating market growth. And it is expected that the outbreak of COVID-19 will be seen in the whole year of 2020, and a few months in 2021.
Technology - Segment Analysis
Liquid coating
technology held the largest share in the functional coil coating market in 2019,
owing to wide use of liquid coating in home appliances and construction &
automotive industries. In addition, the powder coating segment is also growing
at a faster rate during the forecast period. This is due to the fact that
powder-coated metals are resistant to scratching & paint fading and provide
much thicker coatings than conventional liquid coatings without running or
sagging.
Material Type - Segment Analysis
Polyester
segment held the largest share in the Functional Coil Coatings market in 2019, due
to its wide usage as a final topcoat in the functional coil coatings cycle, owing
to its low cost and easy application methods. In addition, it offers excellent corrosion and
weather resistance to the coated material in most conditions. Therefore, owning
to these factors polyester segment dominated the functional coil coated market.
In addition, epoxy resins, polyvinylidene fluoride, and plastisol are also
growing at a faster rate during the forecast period.
End Use - Segment Analysis
Appliance
segment held the largest share in the functional coil coating market in 2019
and is growing at a CAGR of 5.6%. This is due to the increased expenditure power of
consumers and improved living standards. Functional coil coated metals are
useful for enhancing the design and aesthetics of home appliances. In addition,
the use of these metals enables manufacturers to customize textures. Thus, in
order to meet the changing consumer demand for home appliance design,
manufacturers use functional coil coated metals, which is driving functional
coil coated market growth.
Geography - Segment Analysis
Asia Pacific
held the largest share in the Functional Coil Coatings market in 2019, up to 28%,
owning to growth in construction projects and rising automotive production in
countries such as India, Malaysia and others. Due to their high-end aesthetics
and long-lasting value, functional coil coatings are used in the building and
construction industry, in ceiling grids, doors, roofing and siding, windows,
and others. Construction projects and investments in Asia Pacific region is
significantly increasing, which is driving functional coil coating market. For
instance, in 2019, China government invested 1.9 billion on 13 public housing
projects. In addition, in February 2020, the Asian Development Bank approved a
loan of $631 million to develop the Vishakhapatnam-Chennai industrial corridor.
Furthermore, construction projects such as ‘100 smart cities’ and ‘Housing for
All by 2022’ in India are influencing functional coil coating market growth. In
addition, according to OICA, automotive production in countries such as India,
Indonesia, and Malaysia has increased by 8%, 10.3% and 12.2% up to 5,174,645, 1,343,714
and 402,085 from 2017. Therefore, the growth in automotive industry is also
supporting functional coil market growth in the region.
Drivers – Functional Coil Coatings Market
• Growing
demand for energy-efficient structures.
With an increasing number of building codes that promote
energy-efficient structures, home builders and consumers are gradually moving
towards strategies that deliver long-term performance and energy savings. In
addition to aesthetic look, durability, and functionality, functional coil
coatings are known for their infrared-reflective pigment technology. This
technology saves energy on cooling by helping to ease the interior temperature
of the building. According to the US Department of Energy, heating and cooling
costs account for 48 percent of energy use in typical US households. Therefore,
as the use of functional coil coated metal can reduce the overall utility
bills, while providing excellent resistance, superior longevity, infinite
aesthetic color and texture options, and environmental benefits, the demand for
it is growing.
Challenges – Functional Coil Coatings Market
·
High production
cost of functional coil coatings.
The major factor hindering the growth of this market is the high
cost of the processes involved in the production of functional coil coatings.
The manufacturing process of functional coil coating involves the coil coating
line, which includes various cleaning, heating and coating tools and equipment.
Higher maintenance costs for these machines increase the cost of the process
and therefore, increases the cost of functional coil coatings. Therefore,
owning to high cost of pre-coated metal, consumers may prefer home appliances
that require fiber or plastic for fabrication. Thus restraining market growth.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Functional
Coil Coatings Market. In 2019, the market of Functional Coil Coatings Market has
been consolidated by the top five players accounting for xx% of the share. Major
players in the Functional Coil Coatings market are KCC paints SDN BHD,
KelCoatings Limited, Daikin Industries, Ltd., Henkel AG & Co. KGaA, NIPSEA
group, Valspar Corporation, Axalta Coating Systems (Axalta), Akzo Nobel N.V.,
and PPG Industries., among others.
Acquisitions/Technology
Launches
Ø In March 2020, PPG
industries acquired Alpha Coating Technologies, LLC a manufacturer of powder
coatings for metal and light industrial applications.
Ø In October 2015, AkzoNobel
opened new coil coating production plants in Garcia, Mexico.
Ø In June 2015, PPG
Industries launched Duraform™ Next-Generation Polyester Coatings, ideal for
coating appliances, building products, and transportation equipment.
LIST OF TABLES
1.Global Functional Coil Coating Market, By Product Type Market 2019-2024 ($M)1.1 Topcoat Market 2019-2024 ($M) - Global Industry Research
1.2 Primer Market 2019-2024 ($M) - Global Industry Research
1.3 Backing Coat Market 2019-2024 ($M) - Global Industry Research
2.Global Functional Coil Coating Market, By Technology Market 2019-2024 ($M)
2.1 Liquid Coating Market 2019-2024 ($M) - Global Industry Research
2.2 Powder Coating Market 2019-2024 ($M) - Global Industry Research
3.Global Functional Coil Coating Market, By End-Use Market 2019-2024 ($M)
3.1 Construction Market 2019-2024 ($M) - Global Industry Research
3.2 Appliance Market 2019-2024 ($M) - Global Industry Research
3.3 Automobile Industry Market 2019-2024 ($M) - Global Industry Research
4.Global Functional Coil Coating Market, By Material Type Market 2019-2024 ($M)
4.1 Acrylic Market 2019-2024 ($M) - Global Industry Research
4.2 Epoxy Resin Market 2019-2024 ($M) - Global Industry Research
4.3 Polyester Market 2019-2024 ($M) - Global Industry Research
4.4 Polyvinylidene Fluoride Market 2019-2024 ($M) - Global Industry Research
4.5 Pvc/Vinyl Market 2019-2024 ($M) - Global Industry Research
4.6 Plastisol Market 2019-2024 ($M) - Global Industry Research
4.7 Polyurethane Market 2019-2024 ($M) - Global Industry Research
5.Global Functional Coil Coating Market, By Product Type Market 2019-2024 (Volume/Units)
5.1 Topcoat Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 Primer Market 2019-2024 (Volume/Units) - Global Industry Research
5.3 Backing Coat Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Functional Coil Coating Market, By Technology Market 2019-2024 (Volume/Units)
6.1 Liquid Coating Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Powder Coating Market 2019-2024 (Volume/Units) - Global Industry Research
7.Global Functional Coil Coating Market, By End-Use Market 2019-2024 (Volume/Units)
7.1 Construction Market 2019-2024 (Volume/Units) - Global Industry Research
7.2 Appliance Market 2019-2024 (Volume/Units) - Global Industry Research
7.3 Automobile Industry Market 2019-2024 (Volume/Units) - Global Industry Research
8.Global Functional Coil Coating Market, By Material Type Market 2019-2024 (Volume/Units)
8.1 Acrylic Market 2019-2024 (Volume/Units) - Global Industry Research
8.2 Epoxy Resin Market 2019-2024 (Volume/Units) - Global Industry Research
8.3 Polyester Market 2019-2024 (Volume/Units) - Global Industry Research
8.4 Polyvinylidene Fluoride Market 2019-2024 (Volume/Units) - Global Industry Research
8.5 Pvc/Vinyl Market 2019-2024 (Volume/Units) - Global Industry Research
8.6 Plastisol Market 2019-2024 (Volume/Units) - Global Industry Research
8.7 Polyurethane Market 2019-2024 (Volume/Units) - Global Industry Research
9.North America Functional Coil Coating Market, By Product Type Market 2019-2024 ($M)
9.1 Topcoat Market 2019-2024 ($M) - Regional Industry Research
9.2 Primer Market 2019-2024 ($M) - Regional Industry Research
9.3 Backing Coat Market 2019-2024 ($M) - Regional Industry Research
10.North America Functional Coil Coating Market, By Technology Market 2019-2024 ($M)
10.1 Liquid Coating Market 2019-2024 ($M) - Regional Industry Research
10.2 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
11.North America Functional Coil Coating Market, By End-Use Market 2019-2024 ($M)
11.1 Construction Market 2019-2024 ($M) - Regional Industry Research
11.2 Appliance Market 2019-2024 ($M) - Regional Industry Research
11.3 Automobile Industry Market 2019-2024 ($M) - Regional Industry Research
12.North America Functional Coil Coating Market, By Material Type Market 2019-2024 ($M)
12.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
12.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
12.3 Polyester Market 2019-2024 ($M) - Regional Industry Research
12.4 Polyvinylidene Fluoride Market 2019-2024 ($M) - Regional Industry Research
12.5 Pvc/Vinyl Market 2019-2024 ($M) - Regional Industry Research
12.6 Plastisol Market 2019-2024 ($M) - Regional Industry Research
12.7 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
13.South America Functional Coil Coating Market, By Product Type Market 2019-2024 ($M)
13.1 Topcoat Market 2019-2024 ($M) - Regional Industry Research
13.2 Primer Market 2019-2024 ($M) - Regional Industry Research
13.3 Backing Coat Market 2019-2024 ($M) - Regional Industry Research
14.South America Functional Coil Coating Market, By Technology Market 2019-2024 ($M)
14.1 Liquid Coating Market 2019-2024 ($M) - Regional Industry Research
14.2 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
15.South America Functional Coil Coating Market, By End-Use Market 2019-2024 ($M)
15.1 Construction Market 2019-2024 ($M) - Regional Industry Research
15.2 Appliance Market 2019-2024 ($M) - Regional Industry Research
15.3 Automobile Industry Market 2019-2024 ($M) - Regional Industry Research
16.South America Functional Coil Coating Market, By Material Type Market 2019-2024 ($M)
16.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
16.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
16.3 Polyester Market 2019-2024 ($M) - Regional Industry Research
16.4 Polyvinylidene Fluoride Market 2019-2024 ($M) - Regional Industry Research
16.5 Pvc/Vinyl Market 2019-2024 ($M) - Regional Industry Research
16.6 Plastisol Market 2019-2024 ($M) - Regional Industry Research
16.7 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
17.Europe Functional Coil Coating Market, By Product Type Market 2019-2024 ($M)
17.1 Topcoat Market 2019-2024 ($M) - Regional Industry Research
17.2 Primer Market 2019-2024 ($M) - Regional Industry Research
17.3 Backing Coat Market 2019-2024 ($M) - Regional Industry Research
18.Europe Functional Coil Coating Market, By Technology Market 2019-2024 ($M)
18.1 Liquid Coating Market 2019-2024 ($M) - Regional Industry Research
18.2 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
19.Europe Functional Coil Coating Market, By End-Use Market 2019-2024 ($M)
19.1 Construction Market 2019-2024 ($M) - Regional Industry Research
19.2 Appliance Market 2019-2024 ($M) - Regional Industry Research
19.3 Automobile Industry Market 2019-2024 ($M) - Regional Industry Research
20.Europe Functional Coil Coating Market, By Material Type Market 2019-2024 ($M)
20.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
20.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
20.3 Polyester Market 2019-2024 ($M) - Regional Industry Research
20.4 Polyvinylidene Fluoride Market 2019-2024 ($M) - Regional Industry Research
20.5 Pvc/Vinyl Market 2019-2024 ($M) - Regional Industry Research
20.6 Plastisol Market 2019-2024 ($M) - Regional Industry Research
20.7 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
21.APAC Functional Coil Coating Market, By Product Type Market 2019-2024 ($M)
21.1 Topcoat Market 2019-2024 ($M) - Regional Industry Research
21.2 Primer Market 2019-2024 ($M) - Regional Industry Research
21.3 Backing Coat Market 2019-2024 ($M) - Regional Industry Research
22.APAC Functional Coil Coating Market, By Technology Market 2019-2024 ($M)
22.1 Liquid Coating Market 2019-2024 ($M) - Regional Industry Research
22.2 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
23.APAC Functional Coil Coating Market, By End-Use Market 2019-2024 ($M)
23.1 Construction Market 2019-2024 ($M) - Regional Industry Research
23.2 Appliance Market 2019-2024 ($M) - Regional Industry Research
23.3 Automobile Industry Market 2019-2024 ($M) - Regional Industry Research
24.APAC Functional Coil Coating Market, By Material Type Market 2019-2024 ($M)
24.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
24.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
24.3 Polyester Market 2019-2024 ($M) - Regional Industry Research
24.4 Polyvinylidene Fluoride Market 2019-2024 ($M) - Regional Industry Research
24.5 Pvc/Vinyl Market 2019-2024 ($M) - Regional Industry Research
24.6 Plastisol Market 2019-2024 ($M) - Regional Industry Research
24.7 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
25.MENA Functional Coil Coating Market, By Product Type Market 2019-2024 ($M)
25.1 Topcoat Market 2019-2024 ($M) - Regional Industry Research
25.2 Primer Market 2019-2024 ($M) - Regional Industry Research
25.3 Backing Coat Market 2019-2024 ($M) - Regional Industry Research
26.MENA Functional Coil Coating Market, By Technology Market 2019-2024 ($M)
26.1 Liquid Coating Market 2019-2024 ($M) - Regional Industry Research
26.2 Powder Coating Market 2019-2024 ($M) - Regional Industry Research
27.MENA Functional Coil Coating Market, By End-Use Market 2019-2024 ($M)
27.1 Construction Market 2019-2024 ($M) - Regional Industry Research
27.2 Appliance Market 2019-2024 ($M) - Regional Industry Research
27.3 Automobile Industry Market 2019-2024 ($M) - Regional Industry Research
28.MENA Functional Coil Coating Market, By Material Type Market 2019-2024 ($M)
28.1 Acrylic Market 2019-2024 ($M) - Regional Industry Research
28.2 Epoxy Resin Market 2019-2024 ($M) - Regional Industry Research
28.3 Polyester Market 2019-2024 ($M) - Regional Industry Research
28.4 Polyvinylidene Fluoride Market 2019-2024 ($M) - Regional Industry Research
28.5 Pvc/Vinyl Market 2019-2024 ($M) - Regional Industry Research
28.6 Plastisol Market 2019-2024 ($M) - Regional Industry Research
28.7 Polyurethane Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Functional Coil Coatings Market Revenue, 2019-2024 ($M)2.Canada Functional Coil Coatings Market Revenue, 2019-2024 ($M)
3.Mexico Functional Coil Coatings Market Revenue, 2019-2024 ($M)
4.Brazil Functional Coil Coatings Market Revenue, 2019-2024 ($M)
5.Argentina Functional Coil Coatings Market Revenue, 2019-2024 ($M)
6.Peru Functional Coil Coatings Market Revenue, 2019-2024 ($M)
7.Colombia Functional Coil Coatings Market Revenue, 2019-2024 ($M)
8.Chile Functional Coil Coatings Market Revenue, 2019-2024 ($M)
9.Rest of South America Functional Coil Coatings Market Revenue, 2019-2024 ($M)
10.UK Functional Coil Coatings Market Revenue, 2019-2024 ($M)
11.Germany Functional Coil Coatings Market Revenue, 2019-2024 ($M)
12.France Functional Coil Coatings Market Revenue, 2019-2024 ($M)
13.Italy Functional Coil Coatings Market Revenue, 2019-2024 ($M)
14.Spain Functional Coil Coatings Market Revenue, 2019-2024 ($M)
15.Rest of Europe Functional Coil Coatings Market Revenue, 2019-2024 ($M)
16.China Functional Coil Coatings Market Revenue, 2019-2024 ($M)
17.India Functional Coil Coatings Market Revenue, 2019-2024 ($M)
18.Japan Functional Coil Coatings Market Revenue, 2019-2024 ($M)
19.South Korea Functional Coil Coatings Market Revenue, 2019-2024 ($M)
20.South Africa Functional Coil Coatings Market Revenue, 2019-2024 ($M)
21.North America Functional Coil Coatings By Application
22.South America Functional Coil Coatings By Application
23.Europe Functional Coil Coatings By Application
24.APAC Functional Coil Coatings By Application
25.MENA Functional Coil Coatings By Application
26.Kcc Paint Sdn Bhd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Kelcoatings Limited, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Daikin Industries, Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Henkel Ag Co. Kgaa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Nipsea Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Basf Se, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Valspar Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Axalta Coating System, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Akzo Nobel N V, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Ppg Industry, Sales /Revenue, 2015-2018 ($Mn/$Bn)