Coil Coatings Market Size, Share & Trends Analysis Report By Resin (Polyester, Siliconized Modified Polyesters (SMP), Plastisols, Other Resins), By Application, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Coil Coatings Market Size & Trends

The global coil coatings market size was estimated at USD 3.44 billion in 2023 and is projected to grow at a CAGR of 4.0% from 2024 to 2030. This growth can be attributed to the increased demand for these coatings from the flourishing construction industry, which includes both residential and commercial sectors. Coil coatings are extensively used in roofing, cladding, and insulation of buildings, infrastructure, and industrial facilities.

One of the key advantages of coil coating is its ability to provide a consistent and controlled application of paint at high line speeds. This allows for rapid and efficient production, making it a preferred method for coating metal. The process ensures that the entire surface of the metal is cleaned and treated before the paint is applied, resulting in tightly-bonded finishes. The use of coil coating in the industry is extensive, with over 800 million tons of coil-coated metal produced and shipped annually in North America alone.

The global construction industry is one of the major consumers of coil coatings in the world. It accounted for more than 40% share of the total global demand for coil coatings in 2023. Rapid urbanization and industrialization have also led to the need for construction and infrastructure development, especially in emerging countries of Asia Pacific, Central & South America, and the Middle East.

Advancements in coating technologies have revolutionized the applicability of coil coatings in recent years. These advancements have not only enhanced the performance and durability of coil coatings but have also expanded the range of their applications across industries. One such advancement is the development of high-performance polymer coatings, which provide excellent resistance to corrosion, UV radiation, and harsh weather conditions.

VOCs are subject to a variety of statutory regulations and legislation. The use of these organic compounds in coil coatings is regulated by government and federal agencies to limit human exposure to toxic substances and control VOC emissions.VOCs are regulated by international and national regulatory bodies by ensuring their legal conformity and environmental relevance, as well as assessing the raw materials used for developing them based on ecotoxicological and toxicological data. The European Chemical Industry Council (CEFIC), the German Chemical Industry Association, and many other scientific groups are constantly working to evaluate and develop coil coatings with low-VOC content for various industries.

Market Concentration & Characteristics

The global market can be characterized as moderately consolidated, with a significant share of the market being held by top players in the industry. This level of consolidation is indicative of a market where a few key companies hold a substantial portion of the market share, leading to a competitive landscape with a degree of stability and influence exerted by these major players. This consolidation is driven by several factors, including the level of innovation required, research and development costs as well as strict regulatory environment.

Innovation plays a crucial role in the global coil coatings market, driving the development of new products, processes, and technologies. The industry is witnessing continuous evolution, fostering innovative formulations and solutions that cater to the diverse needs of end use industries. Notably, there is a growing emphasis on environmentally friendly solutions, with a focus on sustainable coating formulations, including low-VOC coatings, water-based formulations, and recycling programs. This emphasis on innovation aligns with the broader industry trend towards sustainability and environmental responsibility.

The global market faces the potential impact of product substitutes, particularly in the context of evolving consumer preferences and technological advancements. As the industry continues to innovate, the emergence of alternative coating technologies or materials could present competitive challenges. Additionally, the market's response to the harmful environmental impact of solvent-borne coatings suggests a potential shift towards alternative products that align with stricter environmental regulations and sustainability goals

Application Insights

Steel dominated the market with a revenue share of 73.9% in 2023. The steel segment is a significant driver of the coil coatings market, owing to its applications in various industries, such as automotive, construction, and consumer appliances. Pre-painted steel is a color-coated construction material used for cladding, roofing, residential doors, and other structural purposes. The pre-painted steel products offer characteristics, such as corrosion resistance, durability, and aesthetics, which enhance product performance. The versatility and reliability of steel coated with coil coatings help in the adoption of these steel products in end use industries.

Coil coatings are widely used in the transportation industry for a range of applications in automotive, aerospace, and rail. Coil coatings are used in the automotive industry for coating metal components, such as car bodies, chassis, and engine parts. These coatings provide superior corrosion resistance, weatherability, and aesthetic appeal to vehicles. They also contribute to improving the fuel efficiency and performance of cars, trucks, and aircraft.

The coil coating application on steel increases the lifespan of the product to 60 years or more, owing to its dual-layer protection. The coil coating is available in a wide range of colors, offering customers multiple choices and protection from environmental conditions. Another important aspect of a coil coating on steel is its reflective property, which reduces heat absorption in buildings.

Coil coating is a manufacturing technique for applying various coatings, such as anodizing, paint, and powder, to aluminum coils, enhancing their corrosion resistance, esthetic appearance, and durability. This method offers an efficient, uniform coating application crucial for aluminum products used across multiple industries, including construction, automotive, and consumer appliances. Market trends show a rising demand for eco-friendly, sustainable coatings and innovative colors & finishes.

Resin Insights

Polyester dominated the market with a revenue share of 37.3% in 2023. Polyester resins are widely used in coil coating applications, which involve the application of a coating to a metal coil before it is formed into a final product. Polyester coatings are commonly used in industries such as construction, automotive, and aerospace. In this section, we will discuss the characteristics and applications of polyester resins used in coil coating.

Coil coating is a process in which a continuous strip of metal, such as steel or aluminum, is coated with various layers of paint or other coatings. One type of coating used in coil coating is fluoropolymer. Fluoropolymer coatings are known for their excellent durability, weather resistance, and chemical resistance. They are widely used in architectural applications, such as wall panels, roofing, and window frames for high-end buildings.

The polyvinyl chloride chemistry possesses notable strengths in terms of abrasion resistance, flexibility, and its ability to form thick films. To achieve these properties, PVC dispersions are created by incorporating a plasticizer as the liquid phase. The addition of a solvent is carefully employed to regulate viscosity, with typical solvent content not exceeding 20% by weight. Plastisols containing a significant amount of solvent are called "organosols".

End-use Insights

Building & Construction dominated the market with a revenue share of 57.7% in 2023. Coil coatings are applied to metal coils, such as steel and aluminum, before they are molded into various building components like roofing, siding, windows, doors, and ceiling grids. These coatings enhance the durability, corrosion resistance, and aesthetic appeal of metal surfaces, making them suitable for use in various construction projects.

Coil coatings are widely used in the transportation industry for a range of applications in automotive, aerospace, and rail. Coil coatings are used in the automotive industry for coating metal components, such as car bodies, chassis, and engine parts. These coatings provide superior corrosion resistance, weatherability, and aesthetic appeal to vehicles. They also contribute to improving the fuel efficiency and performance of cars, trucks, and aircraft.

Coil coatings play a significant role in the consumer appliances industry as they are used to coat the metal coils that are the structural components of these appliances. Coil coatings provide protection against corrosion, enhance durability, and improve the aesthetic appeal of appliances. They are applied to metal coils before they are formed into the desired shape for the appliance. Government policies and initiatives play a vital role in driving the growth of the consumer appliances industry and, consequently, the demand for coil coatings. For example, the Indian government has made substantial investments in infrastructure projects, which have spurred the growth of consumer appliances in the country.

Regional Insights

The North America Coil coatings market is expected to grow significantly from 2024 to 2030. The emerging trend of pre-engineered buildings, wherein coated steel sheet is an important building material for roofing and exterior applications, is expected to remain a key promising area in the market.

U.S. Coil Coatings Market Trends

The coil coatings market in the U.S. is estimated to grow at a significant CAGR from 2024 to 2030. The increased requirement for warehouses on account of the rapidly expanding e-commerce industry is expected to push the demand for coated steel products as well as coatings. The U.S. is one of the leading destinations to hold warehouses worldwide, due to the presence of e-commerce giants such as Amazon, eBay, and Walmart.

Asia Pacific Coil Coatings Market Trends

Asia Pacific coil coatings market dominated the market with a revenue share of 70.8% share in 2023. The expansion of coil coatings in Asia Pacific is primarily driven by expanding manufacturing activities and a surge in foreign investments. Key industries such as automotive, electronics, machinery, transportation, consumer appliances, and construction are set to bolster the demand for coated steel/aluminum coil, subsequently propelling coil coatings demand in the region over the forecast period.

The coil coatings market in China held the largest share in Asia Pacific in 2023. The relaxation of COVID-19 measures in December 2022 positively influenced investor confidence, accelerating ongoing projects in China. Presently, there are 20 active railway projects, with an additional 30 construction projects initiated since January 2023. These developments have led to a spurt in the growth of the market in the country.

Europe Coil Coatings Market Trends

Europe coil coatings market was the second-largest regional market in 2023. Macroeconomic challenges, increased production expenses, a decline in demand for finished goods, and other factors have adversely influenced steel production and consumption across Europe. This situation has had a negative impact on the coil coating market within the region.

The coil coatings market in Germany held the largest share of the Europe market in 2023. The National Steel Industry Association reported that crude steel production in December 2023 decreased by 2.3% compared to the previous year, with a total output of 2.631 million tons. Over the entire year of 2023, crude steel production in Germany dropped by 3.9% YoY, amounting to 35.438 million tons, aiding the coil coatings market.

UK coil coatings market is expected to grow at a significant CAGR from 2024 to 2030. Rising investments in public and private construction activities are expected to fuel the growth of construction in the UK. The advent of digital construction is anticipated to be one of the major drivers for this growth, which, in turn, is likely to augment the demand for coil coatings in the country.

Central & South America Coil Coatings Market Trends

Coil coatings market in Central & South America is anticipated to witness significant growth from 2024 to 2030. The rising number of small- and medium-sized enterprises in Central & South America, along with the demand for industrial products, has boosted the construction of logistics, retail, commercial, distribution, transport, and agricultural facilities in the region.

Brazil coil coatings market is estimated to grow at a significant CAGR over the forecast period. The government is focusing on improving and expanding the public infrastructure. Surging investments in the development of infrastructure amenities are anticipated to fuel the adoption of coil coating.

Middle East & Africa Coil Coatings Market Trends

The coil coatings market in MEA is driven by rapid industrialization and urbanization. For instance, The government of the U.A.E. plans to increase the contribution of the manufacturing industry to its economy by diversifying its investments in other industries, highlighting the potential for growth in the region.

Saudi Arabia coil coatings market is expected to grow at a significant rate due to significant improvements in recent years. One of the major companies involved in the production of steel in Saudi Arabia is Saudi Basic Industries Corporation (SABIC), which operates a steel plant in the Jubail Industrial City. SABIC produces a range of steel products including hot-rolled coils, cold-rolled coils, and galvanized sheets.

Key Coil Coatings Company Insights

The competitive landscape of the global market is characterized by intense competition among a few key players, technological advancements, and strategic initiatives aimed at maintaining industry leadership and driving innovation. Large market incumbents such as Akzo Nobel N.V., DuPont, and BASF SE are prominent players in the industry, with established brand identities and considerable market penetration. These companies have a strong presence in the overall global coatings industry, leveraging their brand reputation to maintain market share and drive growth.

Some of the key players operating in the market include

• BASF SE is a leading player in the coil coatings market, offering a wide range of offerings such as Petrochemicals, Intermediates, Performance Materials, Monomers, Dispersion & Resins, Performance Chemicals, Catalysts, Coatings, Care Chemicals, Nutrition & Health, and Agricultural Solutions.

• DuPont is a major player in the coil coatings industry. The company operates through its three business segments: Interconnect Solutions, Semiconductor Technologies, and Industrial Solutions, offering coil coatings under industrial solutions.

Continental Coatings, Blygold, and HUEHOCO are some of the emerging players in the coil coatings market-

• Continental Coatings is an emerging player from Singapore in the market and is esteemed for delivering high-performance coatings recognized for their outstanding chemical, corrosion, and temperature resistance.

• Blygold is a notable emerging player in the coil coatings industry, providing special coil coatings for protection for RTPF (Round Tube Plate Fin) heat exchangers.

Recent Developments

• In February 2024, KANSAI HELIOS has executed a share purchase agreement with GREBE Holding in Weilburg, Germany, aimed at acquiring the complete industrial coatings business of GREBE Holding, known as "WEILBURGER Coatings”.

• In January 2024, Beckers and ArcelorMittal have jointly announced a partnership aimed at the development of radiation curing technology tailored for pre-painted steels, intended for application within the coil coating industry.

Coil Coatings Market Report Scope

Global Coil Coatings Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global coil coatings market report based on resin, application, end-use, and region.

• Resin Outlook (Volume, Kilotons, Revenue, USD Million, 2018 - 2030)

  • Polyester

  • Fluoropolymer

  • Siliconized Modified Polyesters (SMP)

  • Plastisols

  • Other Resins

• Application Outlook (Volume, Kilotons, Revenue, USD Million, 2018 - 2030)

  • Steel

  • Aluminum

• End-use Outlook (Volume, Kilotons, Revenue, USD Million, 2018 - 2030)

  • Building & Construction

  • Transportation

  • Consumer Appliances

  • Other End Uses

• Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Singapore

  • Central & South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • South Africa