Core Tip: Future Market Insights predicts that by the end of 2027, global sales of coil coatings are expected to reach 1.368 million tons, with an annual composite growth rate of 4.6% between 2017 and 2027 and a market value of about $6.312 billion.
The increasing expenditure of construction industry, especially non-residential construction, is expected to push up the global sales of coil coatings. Recent upsurge in the construction industry continues to boost the market demand for coated steel/aluminium coils. In addition, the continuous growth of global demand in the field of household appliances and building materials is also supporting the growth of the coil coatings market.
The development of environmentally friendly coatings with emission levels and the start-up of power grid projects are two key factors affecting the development of the global coil coatings market. In these key areas, sales of coil coatings in the Asia-Pacific region (APEJ), excluding Japan, are expected to continue to grow strongly due to expanding local infrastructure investment.
APEJ coil coating market is currently valued at more than $1.472 billion, and is expected to exceed $2.525 billion by 2017. During the same period, the Middle East and Africa (MEA) also maintained high levels of growth, and the annual compound growth rate is expected to exceed that of other regions. The North American and Western European coil markets will be ranked second and third in the same period.
The report also shows that the sales of topcoat are expected to be higher than other types of coil coatings during the forecast period. In 2016, global topcoat sales reached 369.5 million tons. By 2027, it is expected to increase to 588.6 million tons, and CAGR is expected to reach 4.3%.
According to the types of materials, polyester coil coatings will be more and more popular in the market because of their excellent physical and chemical properties such as chemical resistance, high durability and easy processing. Coil coatings are widely used in various steel coating fields. Pre-coated steel sheets are becoming more and more popular in the market, and the demand for various coated products is also rising, including coil coatings in steel manufacturing industry.
From the perspective of terminal application, the construction industry is expected to occupy the largest share of the global coil coating market in the forecast period.
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