The global functional coil coatings market has been experiencing paradigm shift in terms of technology. Number of innovations has fueled the growth of the market. A report on global functional coil coatings market is recently published by Future Market Insights. A reported from FMI has fielded some questions from the report on global functional coil coatings market.
What is your take on expansion of global functional coil coatings market?
Well, according to the report, the global functional coil coatings market is anticipated to witness expansion at 4.9% CAGR during 2017-2027 to reach market size more than US$ 590 Mn by 2027-end.
What factors according to you are fueling growth of the market?
Typically, consolidation and innovation in technology is the key trend observed in the value chain of coil coatings market. Increasing demand for corrosion free products is further propelling demand for functional coil coatings. Industries are preferring use of high quality products, which is fueling demand for functional coil coatings. On the other hand consolidation helps companies to expand their geographical presence as well as increase their consumer base. Thereby local companies are focusing on consolidation, which is further boosting growth of the global functional coil coatings market. Sound demand from end-users combined with increasing steel consumption is projected to further fuel growth of the market.
Is there any segment by technology type, which is leading segment in the market?
Well, the market has been segmented into water borne technology and liquid coating segment on the basis of technology. Among which, the liquid coating segment is anticipated to retain its dominance through 2027 with market size estimated to reach US$ 500 Mn by 2027. On the other hand, the water born segment is likely to lead in the market with 5.1% CAGR, making the segment lucrative in foreseeable future.
How steel, by application type is likely to lead the market?
The steel on the basis of application type is anticipated to lead the market with an estimated growth rate of 4.9% during the assessment period to reach market valuation of more than US$ 450 Mn by 2027-end.
How will you describe the expansion of the market at regional level?
The functional coil coating market in the APEJ region is projected to showcase high market attractiveness. The functional coil coatings market is anticipated to witness highest growth rate during the time of assessment. The market in the APEJ region is expected to remain the largest in foreseeable future.
What are the end users of the functional coil coating market?
Based on the end-use, the consumer appliances segment has the largest market size of more than US$ 400 Mn by 2027-end. HVAC segment is projected to witness highest growth rate during the assessment period.
What are the prominent players in the market?
Dura Coat Products, Inc., Nipsea Group (Nippon Paint), Italcoat S.r.l., Jotun Group, ARCEO Engineering, Titan Coatings, Inc, Recubrimientos Plasticos SA, Chemetall Group and Huhoco GmbH are observed as leading players operating in the global market. However, Lord Corporation, Unichem, Salchi Metal Coats S.r.l, kömmerling chemische fabrik gmbh, and Lampre srl have also increased their consumer base in recent past.
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