FOCUS ON COIL PROCESSING
Pre-painted material used for car panels . Image : BASF Coatings .
“ The ever-increasing demand for oil and gas resources around the world is a major factor that is expected to drive the market in coming years
“ There is a slight decline in growth rate which has been influenced by certain factors such as the increasing prices of raw materials , new / innovative emerging technologies and the lack of safe and proper transportation holding the potential to replace conventional products in the market , posing challenges to global manufacturers . All these factors may hamper demand , thereby restraining coil-coatings ’ market growth to a certain extent ,” it said .
However , the growing automotive industry ; the increased use of colour-coated coils for uniform and quality finishing of metals by automakers ; growth in non-residential constructions ; profit-bearing expansion strategies and product innovations have all led to increasing demand for coil-coated materials .
“ The ever-increasing demand for oil and gas resources around the world is a major factor that is expected to drive the market in the coming years . It is estimated that increasing the use of metals and alloys ( especially steel in nuclear reactors , pipelines and structures in the oil and gas industry ) are expected to boost the market ,” explained Future Market Insights .
Most of the steel products required in oil and gas plants worldwide need coil-coating paint before these are utilised for various applications . The rising extraction of oil and gas in untapped regions is another factor that is likely to aid growth .
The increasing production of steel to cater to the high demand from a wide range of industries is also projected to fuel the market in coming years . The urgent requirement of steel for the construction of large modern structures ( such as airports , bridges , skyscrapers and stadiums ) will spur demand in the market .
“ The growing usage of metals in electrical and electronic devices for developing armatures , transformers , inductors and coils is also anticipated to drive the market . Colourcoated coil is utilised in home appliances to increase their efficiency ,” highlighted the analyst .
The urgent requirement of steel for the construction of large modern structures ( such as bridges ) will spur demand in the market . Image : Shutterstock . com .
Regional initiatives
Rising investments by the Chinese government in the development of innovative infrastructure will augur well for the coilcoatings market .
“ In February 2022 , for instance , local governments across China announced 16,079 key investment projects for 2022 after the Spring Festival holiday , with a total investment of more than US $ 3.95 trillion . Therefore , similar investment plans by government bodies will continue pushing sales in the China market ,” outlined Future Market Insights .
The presence of large numbers of coilcoating product manufacturers in China , along with increasing import and export activities , are set to drive the market . The Asia Pacific excluding Japan ( APEJ ) coil-coatings market is expected to account for about 39.3 % of the share in 2022 , confirmed FMI .
The presence of a well-established automotive industry in Germany is also expected to augur well for the market ( it accounts for around 25 % of all passenger cars and 20 % of all new registrations in Europe ).
“ The Western Europe coil-coatings market is set to hold around 21 % of the share in 2022 ,” estimated FMI . Increasing spending on non-residential construction in the U . S . is likely to bolster the market in the forthcoming years . Analyst FMI believes that North America is anticipated
Thyssenkrupp celebrated its new coating technology for packaging steel on 17 September 2022 .