Summary
MEA Coil Coating Market-Segmented by Product Type, End-user Industry and Countries-Trends and Forecasts( 2017-2022).
Description
The MEA Coil Coating Market was valued at USD XX billion in 2015 and is projected to reach USD XX billion by 2020, at a CAGR of XX % during the forecast period from 2015 to 2020. Coil Coatings is a continuous process of painting metal sheets before fabrication and applied to various applications such as automotive and the exteriors of the buildings. The pre-painted metals can be molded into any shape and size, providing many aesthetic colors and texture options, and high resistance to weathering for long-term usage, thereby making it suitable to be used in varied applications. The economic benefits associated with such as recyclability without the loss of quality and meeting all stringent standards EPA increases their usage in the many end-use applications.
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Coil Coatings, owing to their eco-friendly and low-toxic nature; high tensile strength, and high initial adhesion properties is becoming an integral part of various commercial and industrial sectors. In the Coil Coatings market report, we have taken the following major end-user sectors into consideration: Building and Construction, Industrial and Domestic Appliances, Transportation, Home and Office Furniture, HVAC and Others. The Transportation segment is the fastest growing segment in the market and accounted for more than XX. XX % share of the MEA Coil Coatings Market in 2015.
This market is driven by a number of factors, such as the economic benefits associated with coil coatings, innovative end-use applications, and accelerating demand from construction industry. However, this market faces certain drawbacks, such as higher cost of pre-painting metal sheets, and the lack of awareness in Middle Eastern and African countries. These factors may act as a roadblock to the growth of the market.
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According to the type of resin used in the production, the market has been segmented into Polyester, Acrylics, Epoxy, Polyurethanes, Plastisols, Fluoropolymer, and Others. Polyester, Polyurethane( PU), and Acrylics will grow at a healthy pace during the forecast period..
The market has also been geographically segmented into Saudi Arabia, South Africa, UAE and Rest of MEA. In terms of consumption in 2015, Saudi Arabia and UAE led the market with a share of XX. XX %. With the improvement in the financial status of the consumers, the purchasing power of the middle class consumers has increased, which in turn is accelerating the demand for consumer appliances and infrastructure in MEA region, in turn making these countries an area of immense potential and opportunities. However, the lack of awareness in these developing countries has considerably hindered the growth of this market.
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