A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global coil coatings market. Presenting exclusive insights into the market from 2019 to 2029, the report projects that the market will witness notable growth during the forecast. The growth of the market is primarily driven by high demand from downstream industries, increasing adoption in the construction and automotive industries, and stringent government regulations that are mandating safety practices. Moreover, the demand for polyester material, on the back of the material’s excellent physical properties - such as good chemical resistance, formability, and resistance to withstand harsh weather conditions - is anticipated to fuel the market growth during the forecast period.
Increasing Utilization of Polyester-based Coatings Drives Demand
Coil coatings are gaining traction in the construction sector, as numerous market players are exhibiting interest to utilize pre-coated claddings. Furthermore, using these coatings allows architects to work with new colors and shapes, which enhances the appearance of the building. Players in the coil coatings market are extensively working on blending paints with coatings, so the resultant has not harmful to human health and the environment. This environment-friendly nature, coupled with the aforementioned factors, is propelling the demand for coil coatings. Furthermore, the utilization of polyesters has been on a rise over the previous decade, on the back of the material's physical properties, which include resistance to chemical effects, great formability, and the ability to withstand harsh weather conditions. Backed by their excellent properties, polyester-based coil coatings are being used to protect the exteriors and interiors of buildings. Along similar lines, epoxy and acrylic coatings are also finding significant adoption in the construction activities for roofing and wall cladding, which will continue to drive the coil coatings market on a positive growth trajectory. Backed by the booming usage in infrastructural activities, market players are focusing on offering customized products for the construction industry, to leverage the demand.
Asia Pacific Remains at Forefront of Market Growth
Coil Coatings are finding significant applications in the burgeoning applications in construction, transportation, metal, furniture, and other industries in the Asia Pacific region. Moreover, numerous western players are eyeing India and China on the back of increasing infrastructural activities, and are focusing on expanding their geographical footprint to these regions. Similarly, North America continues to contribute a respectable share of revenue and will continue to grow through the forecast period.