Chemicals and Materials Global Coil Coatings Market (2016-2024)- Research | Page 10

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Middle East and North Africa (GCC, North Africa, South Africa
and Rest of Middle East) Market Size and Y-O-Y Growth Analysis
Growth Drivers and Challenges
Spiked growth of construction industry in emerging economies is the
major factor driving the growth of the global coil coating market. Rising
spending on non-residential construction activities in developed regions
is envisioned to bolster the growth of the global coil coating market over
the forecast period. Further, coated coils are widely adopted by
construction industries due to their various features such as resistance to
corrosion and other features. In addition to this, rising application of
coated coils in various industries such as consumer appliance,
automotive and other industries is anticipated to propel the growth of
coil coating market in the upcoming years.
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Apart from this, technological innovation and development of advanced
coil coatings such as bio-based coating solution is expected to spur the
growth of this market over the forecast period.
However, rising cost of raw material is anticipated to hamper the growth
of the global coil coating market. Apart from this, Eurozone debt crisis
is envisioned to decelerate the demand for coated coils.
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