The global “coil coatings” market is expected to flourish at a significant CAGR of 9% over the forecast period. Moreover, the global coil coatings market is expected to garner USD 7.2 Billion by the end of 2033. Positive outlook of real estate is one of the major growth drivers of the global coil coatings market. Additionally, increasing automotive production is anticipated to fuel the demand for coil coatings during the forecast period 2023-2033.
Asia Pacific grabbed the highest percentage share in overall coil coatings market in 2016. Further, Asia Pacific is expected to continue its dominance over the forecast period. Rise in the infrastructure development activities is expected to intensify the growth of the Asia Pacific coil coatings market.
Recent report published by research nester titled “Coil Coatings Market: Global Demand Analysis & Opportunity Outlook 2024″ delivers detailed overview of the global coil coatings market in terms of market segmentation by product type, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global coil coatings market is segmented into end user such as building & construction, appliances, automotive and others. Among these segments, construction segment is expected to occupy the top position in global coil coatings market. Further, increasing utilization of coil coatings in construction industry is anticipated to drive the growth of the construction coil coatings market. Moreover, growth of construction industry in developing nations is likely to fuel the growth of the coil coatings market during the forecast period.
Additionally, presence of major automotive manufacturers in the region is anticipated to positively impact the growth of the coil coatings market in Asia Pacific. China is the major contributor to the growth of global coil coatings market. Europe is also expected to showcase significant growth in the coil coatings market over the forecast period.
Increasing Infrastructure Investment in Developing Nations
Rising number of residential & commercial spaces across the globe is anticipated to trigger the demand for coil coatings during the forecast period. Moreover, high utilization of coil coatings in automotive industry is anticipated to supplement the growth of the coil coating market.
Innovation and Technological Developments
Advances in coil coatings and development of enhanced coil coatings by major manufacturers with high durability and green benefits are expected to foster the growth of the global coil coatings market. Moreover, recent innovations have reduced the cost of coil coatings which further is anticipated to increase the adoption of the coil coating in the years ahead.
However, fluctuations in the price of the raw material are expected to hamper the growth of the global coil coatings market.
This report also provides the existing competitive scenario of some of the key players of the global coil coatings market which includes company profiling of Akzonobel N.V., PPG Industries Inc., The Valspar Corporation, BASF SE, DuPont, Henkel AG & Company, Kansai Paint Chemical Limited, The Beckers Group, The Sherwin-Williams Company and Wacker Chemie AG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts detailed overview of the global Coil coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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