Global functional coil coating market is expected to rise to an estimated value of USD 1036.79 million by 2026, registering a steady CAGR of 4.95% in the forecast period of 2019-2026. Increasing demand for smart coatings and increasing prevalence for nano-coating is the major factor for the growth of this market.
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Coil coating is a process which is used for the coating of coils of metals. Functional coil coating is a pre-treatment method for metal surface as they have the ability to increase the resistance, flexibility, and improve color textures. They are usually made up of material like acrylic, plastisol, polyester, polyurethane etc. Due to their properties they are very suitable for metal roofs, garage units, and garage doors. They are widely used in industries like appliances, automobile, construction etc. Improvement in the standard of living of the people is the factor fuelling the growth of this market.
Key Market Competitors: Global Functional Coil Coating Market
Few of the major competitors currently working in the global functional coil coating market are Axalta Coating Systems, Akzo Nobel N.V., PPG Industries, Inc., Valspar, The Chemours Company, Henkel Adhesives Technologies India Private Limited, Kansai Paint Co.,Ltd, Eastman Chemical Company, NOROO Coil Coatings Co., Ltd., Becker Group Ltd, Dura Coat Products, Inc., Italcoat Srl, Jotun, Titan Coatings, Inc., Chemetall GmbH, Replasa, ARCEO Engineering, LORD Corporation, Salchi Metalcoat S.r.l, Kömmerling Chemische Fabrik GmbH.
- Rising construction and automotive industry is driving market
- Increasing usage of organic coatings is another factor for this market growth
- Growing prevalence for home appliances and furniture will also compel the market growth
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Segmentation: Global Functional Coil Coating Market
By End- User
By Product Type
North America (U.S., Canada, Mexico)
South America (Brazil, Argentina, Rest of South America)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe)
Asia-Pacific ( Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific)
Middle East & Africa (South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, Rest of Middle East & Africa)
Key Developments in the Market:
In June 2017, The Sherwin-Williams Company announced that they have acquired The Valspar Corporation so that they can expand their business in paints and coatings. This will help them expand their product portfolio with new technologies and developments. This acquisition will also increase their revenue and will help them to provide better services to the customers
In December 2016, AkzoNobel announced that they have acquired BASF’s global Industrial Coatings business which will help the company to be a full service coating providers. This will also strengthen their position in coil, protective and wood coating market. They will also provide protective coatings for wind turbine blades
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