Bio-Based Coating to Augment Coil Coatings Market with a Valuation of about USD 7.2 Billion by 2024
Aug 2, 2018
Global coil coating market is expected to grow at a steady compound annual growth rate of 5.5% over the forecast period.
New York, United States - August 1, 2018 /MarketersMedia/ —
“Coil Coatings Market: Global Demand Analysis & Opportunity Outlook 2024”
The coil coatings market has been segmented by end-user into building & construction, appliances, automotive and others. Among these segments, the building and construction segment dominated the coil coatings market in previous years and is anticipated to continue its dominance in upcoming years. Factors such as rising population and growing demand for construction sites is anticipated to drive the growth of coil coatings market in near future.
The Global Coil Coatings Market reached at a valuation of USD 5.1 Billion in 2016 and is anticipated to reach at a valuation of about USD 7.2 Billion by the end of 2024 by expanding at a CAGR of 5.5% over the forecast period. Rising penetration of coil coatings in various industries such as construction, automotive and other industries is driving the growth of the coil coating market across the globe. Further, factors such as high productivity and low impact on environment are anticipated to drive the coil coatings market by noteworthy revenue by the end of 2024.
In the regional segment, Asia Pacific represented the largest market share with 51.2% in overall coil coatings market in year 2016. This can be attributed to rapid pace in urbanization and rising adoption and demand for coil coatings in construction industry. Consequently, Asia-Pacific is expected to continue its dominance in overall coil coatings market by the end of 2024. Further, Canada and U.S are the major countries to propel the growth of coil coatings market in North America. Due to Eurozone crisis that affected the growth of various end-use industries, Europe is expected to grow at sluggish growth rate during the forecast period.
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Construction Industries to Drive Coil Coatings Market
Factors such as huge spending on non-residential construction activities in developed regions and speared growth of construction industry in emerging economies are expected to benefit the expansion of global coil coatings market. This can be attributed to the rising applications of coated coils in various industries such as consumer appliance, automotive and other industries due to their various features such as resistance to corrosion among others. However, rising cost of raw material is likely to inhibit the growth of the coil coatings market in the near future.
The report titled “Coil Coatings Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the 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.
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This report also provides the existing competitive scenario of some of the key players of the 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. On the whole, the report depicts detailed overview of the 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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Source: MarketersMedia
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