Growing Demand for Ecofriendly Coatings to Strengthen Technical Coil Coating Market

Technical Coil Coatings Market

Technical coil coating is defined as an automated process for coating of metal components and metal objects before fabrication process. Technical coil coating process is necessary in order to provide chemical pretreatment for metal surfaces on either sides or both sides. Technical coil coatings such as topcoats, primers and backing coats among others are widely used across several industrial sectors. Technical coil coating finds application mainly in two categories, steel coating and aluminum coating. Several market players involved in manufacturing of technical coil coating are likely to focus on integration of latest technologies in coating process to offer branch out products portfolio in coming years.

According to Future Market Insights, the global market for technical coil coating is anticipated to reflect a value of US$ 2,100 million by the end of 2027. The global demand for technical coil coatings is pegged to soar robustly. The report estimates that during the period, 2017-2027, the global technical coil coatings market is expected to register a CAGR of 4.7%. 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 technical coil coating as a marketable commodity, till date?

Growing demand for high quality products in manufacturing industries of consumer durables goods is expected to have positive impact on production of technical coil coatings. Increasing inclination of consumers towards corrosion free products is expected to surge demand for technical coil coatings during the forecast period. Moreover, increasing demand for technical coil coatings in power and electricity sector is highly likely to contribute towards revenue growth of technical coatings market during the forecast period. In addition, rapid shift in end user preference for water borne technology as well as powder coating application is anticipated to present potential opportunities for technical coil coating manufacturers in the near future.

According to you, what’s your perspective for the expansion of the global technical coil coating market?

Growing demand for top coats and primer is expected to drive technical coil coating market. Both primer and top coat are anticipated to signify similar growth during the forecast period. However, top coat is highly likely to account for majority of value share in technical coil coatings market. Based on material, technical coil coating is available in a varied range such as epoxy, vinyl, polyester, PVDF, silicone, polyester, polyurethane and plastisols. Among these, increasing consumption of polyester is expected to elevate technical coil coating market. Sales of polyester is expected to reflect an estimated valuation of US$ 1,600 Mn by the end of forecast period.

What’s your take on the eco-friendly technical coil coatings to put hold on VOC (Volatile organic compound) emission?

Implementation of several environmental laws and regulations has led to encourage adoption of eco-friendly and bio-degradable technical coil coatings. Several manufacturers are investing heavily to integrate technological advancement in product development of bio based binder system. Conventional coil coatings derived from crude oil solvents release high amount of VOCs. Thereby, manufacturers are inclining towards production of bio-based alternatives. For instance, recently, Germany based Evonik Industries has developed an innovative product range of polyester resins for technical coil coatings such as primer and top coats under brand name DYNAPOL. These products are specifically derived from renewable raw materials.

What are the potential measures taken by manufacturers in promoting ecofriendly technical coil coatings?

Several technical coil coating manufacturers are focusing to increase investment in research & development field to launch innovative products and embed latest technologies in existing products in a cost effective manner. In accordance with the environment regulating and safety guidelines, market players are strongly focusing to manufacture custom made technical coil coatings with the growing demand for ecofriendly products during the forecast period.

What do you perceive as the biggest deterrent for the adoption of technical coil coating?

Technical coil coating manufacturers are highly prone to encounter drawback such as high cost of products. Raw materials used in production of coating and paints such as additives, binders, solvents, white urea and pigments account for nearly 49% of the total cost of production. As a result, manufacturers are likely to face challenges in revenue growth of technical coil coating market. Another hindering factor is implementation of alternatives like steel and glass for coating exterior sides of metal objects and components.

As per your exhaustive research on global level, which region is expected to hold potential opportunities for technical coil coatings market?

Demand for technical coil coating is expected to witness robust growth in the Asia-Pacific excluding Japan (APEJ) during the forecast period. The region is expected to remain as a lucrative market place with an estimated valuation of sales worth US$ 700 Mn by the end of forecast period.

According to you, who are the market players taking to gain competitive advantage in technical coil coating market?

Major companies in manufacture of technical coil coating are strongly focusing on production of eco-friendly coating and application products. Companies such as Beckers Group, The Valspar Corporation, Akzo Nobel N.V., PPG, Industries Inc. and Axalta Coating Systems Ltd are the key players in technical coil coating market. Other companies based in the APEJ such as Nipsea Group and Kansai Paint Co. are expected to account for potential opportunities in this region.

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By Nikhil Kaitwade

With over 8 years of experience in market research and consulting industry, Nikhil has worked on more than 250 research assignments pertaining to chemicals, materials and energy sector. He has worked directly with about 35 reputed companies as lead consultant for plant expansion, product positioning, capacity factor analysis, new market/segment exploration, export market opportunity evaluation and sourcing strategies.

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