Functional coil coating is an automated process for coating metal object or component before fabrication. The process is necessary to provide chemical pretreatment for all over the metal surface. This includes functional coating such as primers, topcoats and backing coat among others. Functional coil coating finds primary application in aluminum coating and steel coating. Several market players involved in providing functional coil coating are focusing to embed latest technologies in coating process in order to offer diversified products portfolio in the near future.
According to Future Market Insights, the global market for functional coil coating is expected to touch US$ 590 million valuation by the end of 2027. In the few years down the line, the global demand for functional coil coatings is pegged to soar robustly. The report estimates that during the period, 2017-2026, the global functional coil coatings market will register expansion at a CAGR of 4.9%. Following insights have been excerpted from an exclusive interview between a journalist and market analyst associated with Future Market Insights.
Considering your observations over the recent past, what factors have instrumented the evolution of functional coil coating as a marketable commodity, till date?
The global functional coil coating market is expected to undergo a paradigm shift when evolving technology is taken into consideration. Robust growth observed in robotic manufacturing owing to increase in demand for automation in almost every industrial sector is expected to drive functional coil coating market. Implementation of innovative technologies through mergers and acquisitions between major companies is identified as a latest trend. Also growing end user preference for corrosion free products is expected to fuel demand for functional coil coating application. Gradual shift observed in end user preference for water borne technology and powder coating application is expected to offer tremendous opportunities for market players in functional coil coatings.
According to you, what are the strategies actions market players are taking to gain competitive advantage?
Major players in functional coil coating market are actively focusing to manufacture eco-friendly coating and application products. Manufacturers are also introducing UV cure technology in functional coil coating application. Moreover, increasing deployment of heavy duty robots in metal fabrication and oil & gas industries is anticipated to fuel demand for innovative functional coil coating processes and application capabilities in the near future. Nonetheless, manufacturers are currently working on shortcoming pertaining to homogenous distribution of nanoparticles through functional coil coating on metal surfaces.
What’s your take on the water base coating to put hold on VOC (Volatile organic compound) emission?
On the account of lowering VOC emission, enforcement of stringent regulation by environment regulating authorities has led to increase demand for water base coating. Standard guidelines associated with VOC emission emphasizes functional coil coating manufacturers to adopt green technology and opt for sustainability as primary objective.
What are the significant measures taken by coating manufacturers to endorse water base coatings?
Several functional coil coating manufacturers are focusing to invest heavily in research & development activities to introduce innovative products and develop existing producst in a cost effective manner in accordance with the environment safety and regulating guidelines. Gradual shift from conventional functional coil coating technologies to water base technology is mostly observed in power and electricity industries. It is observed that water base coating helps to reduce VOC emission by 80% with enhanced appearance when compared with other solvent based coating application.
What do you perceive as the biggest deterrent for the adoption of functional coil coating?
The functional coil coating market player are highly susceptible to encounter drawback such as high cost of products. Another restraining factor is complexities to access raw materials. Due to this, coating manufacturers are anticipated to witness hindrance in functional coil coating market during the forecast period.
Which region is expected to hold potential opportunities for coatings and application technologies for robotics market?
Demand for functional coil coating is likely to witness remarkable rise in the Asia-Pacific excluding Japan (APEJ) during the forecast period. Growing industrial sector in the Asia-Pacific excluding Japan (APEJ) is expected to offer innumerable opportunities for market players involved in the manufacturing of coil coatings and application.
According to you, what’s most bankable presumptive scenario for the expansion of the global functional coil coating market?
Growing demand for primer and top coat is expected to surge demand for functional coil coating. In spite of similar growth shown by both top coat and primer coatings, application of top coats is expected to account for maximum value share during the forecast period. Based on material, application of polyester based functional coil coating is expected to contribute towards revenue growth US$ 450 million during the forecast period.
As far as end users are concerned, application of functional coil coating for consumer appliances is expected to proliferate functional coil coating market in the near future. Steel coating application is expected to witness robust growth in this segment during the forecast period.
Who, do you think, are the key stakeholders in the global functional coil coating market?
Most of the major companies based in Europe like Jotun Group, Inc., Huhoco GmbH, Italcoat S.r.l., Chemetall Group and ARCEO Engineering are expected to account for significant share in functional coil coating market. Other companies like Salchi Metal Coats S.r.l, kömmerling chemische fabrik GmbH, Lampre Srl, Dura Coat Products, Salchi Metal Coats S.r.l and Nipsea Group (Nippon Paint) among others operating in functional coil coating market.
Request Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-6327