FOCUS ON COIL PROCESSING and affordable way to pre-paint , pre-clean , pre-prime and pre-treat steel . Pre-painted steel is weatherproof , waterproof and highly durable . Compared to post-painted surfaces , pre-painted cut-edge can hold up better over time owing to its superior surface ,” explained the analyst .
“ The rapid expansion of the construction industry as a result of greater disposable income and increased government investment in public infrastructure is expected to drive sales . The increasing use of coil-coating paint in pre-coated items or metals used in construction wall cladding and roofing will continue to drive the market ,” reported Zion Market Research in its latest coil-coating market report released in May 2022 .
“ Additionally , rising disposable income and a higher standard of living fuel demand for modern furniture , which is predicted to drive up demand for functional coil-coated metals . The automobile industry is also expected to drive global expansion . Colourcoated coils are commonly used by automakers because they give metals a consistent and high-quality finish at a low cost . The use of these metals improves the design and aesthetics of home appliances and allows producers to customise the texture ,” it added .
It estimates an annual growth rate ( CAGR ) in the Coil stock . coil-coatings market of approximately 4.3 per cent over the forecast period ( up to 2028 ). However , it cautioned , the high cost of these processes could hamper market growth in the future .
“ The high cost of processes involved in the manufacture of functional coil coatings is a factor impeding the growth of this market .
The ever-increasing demand for oil and gas resources around the world is a major factor that is expected to drive the coil-coatings market in coming years .
Coils produced by NLMK .
The coil-coating line ( which includes various cleaning , heating and coating tools and equipment ) is used in the manufacturing process . The higher the expense of these machines ’ upkeep , the higher the cost of the process and the higher the cost of functional coil coatings ,” it warned .
“ Furthermore , due to the higher cost of precoated metal , consumers choose household appliances that require the production of fibre or plastic . This is due to the inexpensive pricing of these materials with the same performance as functional coil coatings . The functional coilcoating process necessitates the employment of various coating machinery and tools . The usage of these tools for an extended period of time causes wear and tear , restricting the adoption of functional coil coatings ,” it added .
Market forecasts and insights
According to analyst The Business Research Company , the global coil-coatings market size is expected to grow from US $ 4.67 billion in 2021 to US $ 5.13 billion in 2022 at a compound annual growth rate ( CAGR ) of 9.8 %. It is expected to reach US $ 6.55 billion in 2026 at a CAGR of 6.3 %.
In its ‘ Coil Coatings Market Outlook – 2022- 2029 ’ from analyst , Future Market Insights , sales in the global coil-coatings market are slated to top US $ 5 billion in 2022 . Expanding at a healthy 4.7 % CAGR , the market size is projected to reach US $ 6.8 billion by 2029 . “ Rapid expansion of the construction industry , owing to rising disposable incomes and increasing government investment in public infrastructure , are set to propel sales . The increasing usage of coil-coating paint in pre-coated products or metals used in wall cladding and the roofing of buildings will continue driving the market ,” it told ISMR .
The automotive industry is also anticipated to accelerate growth in the market . Colourcoated coils are extensively used by automakers as they provide a uniform and superior quality finish to metals within an affordable range .
“ The global demand for coil coatings increased by a magnitude of 4.3 % over the first half of 2021 . Demand is estimated to witness a growth rate of 4.6 % during the first half of 2022 , a decrease of 10bps compared to earlier projections for the same period ,” added the analyst .