The Asia-Pacific region is among the fastest growing markets for the coil coating formulation industry. China, India, Indonesia and other developing economies make the Asia-Pacific region one of the prominent markets with ample opportunities in automotive, building and construction. North America, led by the presence of the U.S. and Canada, is playing a significant role in industrial paint development. Similarly, Europe is a significant market as well, mostly in Western Europe, due to the existence of well-known industries known for pre-coated steel and aluminum.
The growing prominence of performance products is driving the market. Polyester is the important application. This segment is slated to generate a revenue of $2.95 billion in 2018 and is estimated to reach $5.56 billion in 2028. The increased use of polyesters will drive this segment at the fastest CAGR of 5.69% through 2028. Fluoropolymer market volume generated in 2018 is 26.8 million gallons. The market is foreseen to reach 43.7 million gallons till 2028, growing at a CAGR of 5.46% and is slated to gain a revenue of $701.5 million by 2028. Features like high electronegativity, low polarizability, and highly durable in architectural coatings are boosting the market. Siliconized Polyester is one segment where rate of growth is comparatively less than the above one, but in terms of revenue, it is expected to gain $708.9 million by 2028 at a CAGR of 5.25%. The major reason behind the demand is the composition which consists of durable polyester resin and a siliconized polyester resin, having 5% silicone content which makes the process of coil coatings much easier than the other paint coatings.
Key players of the Coil Coatings Market
AkzoNobel Coatings Inc. is the market leader in the global coil coating market, in terms of the profits. BASF SE. has the higher value of EBIT as compared to its core competitors in the arena. PPG Industries have recorded more than average shares as compared to the other leaders in the industry, earned during the present forecast period. If we take a look at the mentioned key players, the overall shares built is more than 79% and will be increasing till any modification
Companies Citied / Interviewed
1.W.R. Grace & Co.
3.Nippon Paint Holdings Co., Ltd.
4.Kansai Paint Co., Ltd.
7.The Valspar Corporation
8.Henkel AG & Co., KGaA
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