The global coil coating Market size in 2017 was $4784.3 million and is estimated to grow at a CAGR of 5.58% during the forecast period 2018-2023. By metal aluminum is been majorly used and has accounted to be the largest market with 36.8% share and will grow at a CAGR of 4.93% during the forecast period. By region APAC holds the largest coil coatings market share with 52% in coil coating market. Technological advancements and infrastructure growth are main drive factors which leads to the growth of coil coatings market.
What is Coil Coating?
Coil coating is a continuous automated process for coating metal before fabrication into end products. A metal substrate is delivered in coils from the rolling mills. Metal is been placed at the entrance of the coating line and in one continuous process, the coil is painted, cleaned, primed, unwound and treated before being coiled at the other end and packed for shipment to industries for fabrication into variety of end products.
Coil Coatings Market analysis states the market is generally classified by the coatings are generally classified by the type of binders used. Binders are the polymeric material which give structure to the paint. These are some of the most widely used binders for coil coatings. Major type of polymers used for coil coatings paints are polyester, silicon modified polymers, fluorocarbons, polymers, and plastisol. Others includes fluropolymers, epoxy, vinyl, dry lubricants and others.
What are the major applications for Coil Coating?
Coil Coating Market comprise of various applications assessed where coil coating are mostly used includes automotive, appliances, construction & building, HVAC, furniture, transport, packaging. Currently, Construction industry is the leading end-user in coil coatings, holding 71% of market share worth over $3357 million. The main resins like polyester resin, silicone modified polyester, polyvinylidene fluoride (pvdf) or fluropolymer are used extremely helping towards the increasing number of building codes. Air conditioners, water heater, Refrigeration, stoves, ovens, dishwasher, washer & dryer in appliances are the second most leading market in the appliance category. Our findings say the market for appliance industry has a broader scope, due to increasing adoption consumer electronics. Furnaces, metal furniture, file cabinets, partitions in furniture market. Van & trailer bodies, insulated boxes, road & railway coaches in transport industry. Coil coating is used in many other applications such as above ground swimming pools, venetian blinds, fascia, garage etc.