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Coil Coatings Market Size
- Report ID: GMI839
- Published Date: Jun 2024
- Report Format: PDF
Coil Coatings Market Size
Coil Coatings Market reached over USD 4.8 billion in 2023 and is anticipated to register 4.3% CAGR between 2024 and 2032 driven by the increasing demand from end-use industries, such as construction, automotive, and appliances.
The need for durable, attractive, and corrosion resistant materials for roofing, siding and cladding applications is increasing in the construction industry. With the significant growth of the automotive sector, car manufacturers are demanding advanced coatings that ensure the durability of vehicles while protecting them from harsh environmental conditions.
Technological advancements in coating formulations and application techniques will fuel the market growth. Materials, such as high-performance polyesters, fluoropolymers and plastisol coatings are offering advanced properties like weather resistance, flexibility, and advanced UV protection, making them highly desirable in a variety of applications. Environmental regulations have further led to the shift towards more sustainable and environmentally friendly coatings as manufacturers produce low volatile organic compounds and coil coatings to meet these standards. For example, in January 2024, AkzoNobel's white paper on coil coatings explored sustainability in the industry, guiding partners on how to navigate changing requirements and make informed decisions to achieve net zero goals.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Coil Coatings Market Size in 2023: | USD 4.82 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 4.3% |
| 2024 – 2032 Value Projection: | USD 7.22 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 260 |
| Tables, Charts & Figures: | 175 |
| Segments covered: | Product Type, End-User |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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On the other side, the high cost of raw materials, such as resins and pigments, can lead to increased production costs, which may deter manufacturers and end-users from adopting coil coatings. Stringent environmental regulations on VOC emissions and the use of hazardous chemicals are likely to pose challenges for manufacturers in terms of compliance and the need for continuous production in drug development. Shortage of skilled labor and technological advancements in some industries may also affect the quality and stability of coil coatings, restraining the market growth to some extent.
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Coil Coatings Market Scope
