Functional Coil Coatings Market: Approaching 884 Million by 2033 with 5.5% CAGR

In 2023, the functional coil coatings market is expected to produce revenue exceeding US$ 517.5 million. Between 2023 and 2033, the market is estimated to expand at a compound annual growth rate (CAGR) of 5.5%. Polyester coatings are predicted to grow at a CAGR of 4.6% over the course of the assessment year.

Rising investment in construction and transportation infrastructure is increasing demand for specialty materials. These developments are expected to be fueled by a focus on meeting greater safety requirements through protective coating treatments.

Increasing cleanliness and disinfection consciousness is projected to boost demand for anti-microbial functional coil coatings in the forthcoming years. The significantly expanding geriatric population has led to an increase in chronic diseases and health problems. Moreover, the increased prevalence of infectious and communicable diseases, particularly among healthcare workers, has increased the demand for antimicrobial coatings for medical devices in hospitals.

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North America’s robust construction and automotive industries are projected to drive demand for functional coil coatings. North America’s functional coil coatings industry is projected to gain from the significant spread of awareness of the benefits of employing functional coil coatings.

Functional coil coatings are used in a range of building applications. The market is gaining traction as a result of increased demand from the construction industry, which has seen significant growth.

Residential and commercial construction requirements for solar reflective coatings, anti-microbial coatings, self-cleaning coatings, and other goods are expected to drive the expansion of demand further.

Key Takeaways:

  • Total sales of functional coil coatings in North America are estimated to reach 115 million in 2023.
  • By the conclusion of the projected period, Germany is expected to control 30% of Europe’s market.
  • During the decade 2023-2033, India is estimated to generate an additional dollar opportunity of US$ 18 million.
  • Steel coatings are predicted to generate an additional US$ 245 million in revenue throughout the projection period.

Competitive Landscape

Leading companies in the functional coil coatings market are concentrating on the development and launch of new products, as well as the strategic expansion of manufacturing capacity, to increase income generation opportunities.

  • Beckers announced in May 2023 the development of a new “Sustainable Innovation Centre” in the United Kingdom to capitalize on the possibilities of more sustainable coil coating technology. The two-story, 300-square-meter innovation center will more than double the capabilities of the company’s Long Term Development (LTD) R&D team, which is tasked with developing future coil coating capabilities.
  • In December 2022, AZZ announced plans to construct a new aluminum coil coating facility in Washington, Missouri. The project is set to open in 2025.

Top Key Player in the Global Market

  • Akzo Nobel N.V.
  • JK Coil Coating Pvt Ltd
  • Jotun Group
  • Dura Coat Products, Inc.
  • Noroo Coil Coatings
  • Titan Coatings Inc.
  • Eastman Chemical Company
  • Modine Manufacturing Inc.
  • Chemetall Group
  • Recubrimientos Plasticos SA
  • Italcoat Srl.

Key Segmentation

By Application :

  • Steel Coatings
  • Aluminum coatings

By Product Type:

  • Topcoat
  • Primer
  • Backing Coat
  • Others

By Material Type:

  • Polyester
  • Epoxy
  • PVC/Vinyl
  • Plastisols
  • Acrylic
  • Polyurethane
  • PVDF
  • Silicone

By End-Use:

  • Construction
  • Transportation
  • Consumer Durable Goods
  • HVAC
  • Metal Furniture
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia
  • The Middle East and Africa

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