Coil & Extrusion Coating Market to Grow with a CAGR of 4.55% through 2028
Growing demand
of coil & extrusion coating in furniture industry is expected to drive the
Global Coil & Extrusion Coating Market growth in the forecast period,
2024-2028.
According to
TechSci Research report, “Coil & Extrusion Coating Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2028”, the Global Coil & Extrusion Coating Market stood at USD 1.12 billion in 2022 and is anticipated to grow with a CAGR of 4.55% in the forecast
period, 2023-2028. The initiatives taken by government based on Coil &
Extrusion Coating has led to favorable market conditions for the Global Coil
& Extrusion Coating Market. Several factors contribute to the growth of
various Coil & Extrusion Coating products.
Governments
around the world are increasingly prioritizing sustainability in various
industries, including the coil and extrusion coating industry. They are
implementing initiatives that promote LEED accreditation and encourage
energy-saving practices, acting as catalysts for companies to adopt more
sustainable methods. As a result, there is a growing focus on developing
coatings that are not only energy-efficient but also made from recycled
materials, contributing to the overall goal of reducing environmental impact.
One exemplary
company leading the way in this movement is Sherwin-Williams, a renowned
manufacturer of coil and extrusion metal coatings. Recognizing the importance
of sustainability, Sherwin-Williams actively collaborates with these government
initiatives to drive innovation and enhance the industry's ecological
footprint. By embracing sustainable practices and investing in research and
development, Sherwin-Williams sets a commendable example for other companies in
the pursuit of a more environmentally conscious future.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on
"Coil & Extrusion Coating Market”
The future of
industrial coatings, which includes coil and extrusion coatings, is shaping up
to be both innovative and sustainable. Manufacturers are dedicated to
developing new formulations that not only deliver exceptional performance but
also prioritize environmental friendliness. By leveraging advanced technologies
and materials, they are striving to create coatings that minimize the
ecological footprint while meeting the stringent quality standards of the
industry. This shift towards sustainability is driven by the growing consumer
demand for eco-friendly products, including furniture that is both
aesthetically pleasing and environmentally responsible. The furniture
industry itself is experiencing remarkable growth, especially in regions like
Asia-Pacific. This surge can be attributed to factors such as rapid urbanization
and the rise in disposable incomes, leading to an increased demand for
high-quality, stylish furniture. As the demand for furniture continues to rise,
manufacturers are turning to coil and extrusion coatings to ensure that their
products stand out in terms of durability, aesthetics, and performance. These
coatings provide a protective layer that enhances the longevity of furniture,
making it more resistant to wear and tear, as well as environmental factors.
With the application of these coatings, manufacturers can meet the evolving
needs of their customers and deliver furniture that not only meets but exceeds
their expectations.
The Global Coil
& Extrusion Coating Market is segmented into type, resin, end user,
regional distribution, and company
Based on its
resin, the polyester segment held the largest share in the market. Polyester
coatings are widely recognized for their exceptional durability, making them a
top choice for various applications. Not only do they possess outstanding
resistance to weathering and environmental degradation, but they also offer
long-lasting protection, even in harsh outdoor conditions. Additionally,
polyester coatings provide an extensive range of vibrant colors and gloss
levels, allowing for endless possibilities in meeting aesthetic requirements
across different industries.
Within the
construction industry, coil and extrusion coatings are heavily utilized, and
polyester coatings have established themselves as a preferred option. Their
robustness, coupled with their cost-effectiveness, makes them highly
sought-after for construction applications. As the construction sector
continues to expand, particularly in emerging markets, the demand for polyester
coatings is anticipated to experience a corresponding surge, driven by their
exceptional performance and reliability.
Based on region,
Asia Pacific segment is expected to grow during the forecast period. The Asia Pacific
region, encompassing countries like China, India, and Southeast Asian nations,
stands as a powerhouse of the world's fastest-growing economies. With robust
economic growth propelling industrial development, there has been an
exponential surge in the demand for coil and extrusion coatings. These coatings
find extensive use in industries such as automotive, appliances, and packaging,
which are witnessing significant growth in this region.
Notably, the
construction sector emerges as a major consumer of coil and extrusion coatings
in the Asia-Pacific region. Reports indicate that this region boasts the
largest construction market globally, driven by rapid urbanization and
infrastructural development. Countries like China, India, and various Southeast
Asian nations are witnessing a remarkable boom in construction activities,
thereby spurring the demand for coil and extrusion coatings. The need for these
coatings is driven by the requirements of durability, protection, and aesthetic
appeal in the construction industry.
Major companies
operating in Global Coil & Extrusion Coating Market are:
- Akzo
Nobel NV
- PPG
Industries Ltd
- BASF
SE
- Wacker
Chemie AG
- Kansai
Paints Company Limited
- RPM
Performance Coatings Group
- Nippon
Paint Holdings Co. Ltd
- Merck
KGaA
- Allnex
Netherlands B.V.
- Exxon
Mobil Corporation
Download Free Sample Report
Customers can
also request for 10% free customization on this report
“Growing
application of Coil & Extrusion Coating in various end user industries are
key drivers of the Coil & Extrusion Coating market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of Coil & Extrusion Coating with
every passing year are anticipated to register an impressive growth to Global
Coil & Extrusion Coating Market in the forecast period.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Coil & Extrusion Coating Market By Type
(Topcoats, Primers, Backing Coats, Specialties), By Resin (Polyester, Silicone
Modifier Polyester, Fluorocarbon (PVDF), Polyurethane, Plastisol, Epoxy,
Others), By End User (Architecture, Automobile, Consumer Durables, Furniture,
Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Coil & Extrusion Coating Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Coil & Extrusion Coating Market.
Contact
TechSci
Research LLC
420
Lexington Avenue, Suite 300,
New
York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com