Increasing demand in construction sector is expected to drive the global coil coatings market over the next seven years period. Coil coatings type includes polyester, fluropolymer, siliconized polyester, platisol and others. Major coil coatings application market includes construction followed closely by transportation and appliances. Surge in pharmaceuticals and aerospace applications growth is presumed to assist the global coil coatings market. Pharmaceutical products which require constant transportation along with storage are touted to bolster the global coil coatings market over the next seven years. Strain resistance and flexibility have played a key role in augmenting the global market. Aeronautical industry is an important coil coatings end-use industry and is projected to witness brisk growth over the forecast period. Cheaper substitutes with low overall operational costs are touted to retard the coil coatings market development.
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Polycarbonate based engineering plastics substituting metal in the automotive industry is expected to hinder the market growth. Rising raw material cost coupled with strict regulations is anticipated to hamper the global coil coatings market growth. Aluminium sheet being replaced with plastic panels in the construction and building industry is touted to hamper the coil coatings market growth. R&D initiatives focused on developing affordable coil coatings with superior properties promise ample opportunities for industry participants.
North America and Europe have dominated the global coil coatings market over the last few years. Growing coil coatings demand in emerging regions such as Asia Pacific and Central & South America offer abundant opportunities to the existing as well as new industry participants. Growing end-use industries in emerging economies such as China, Japan, Vietnam, India and South Korea are expected to lead their respective regional coil coatings market. To fulfil the rise in demand from the emerging economies, industry participants are investing in several R&D initiatives to maximize production capacity and minimize overall costs.
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