Coil Coatings Market Growth Drivers and Challenges:
Growth Drivers
- Worldwide Growth in Coating Industry – Immense industrialization, and increasing use of coatings in various industries to paint or coat goods is fueling up the demand for coil coatings. For instance, in 2020, the worldwide paint and coating industry was anticipated to be worth of approximately USD 155 billion.
- Rising Use of Alloy, Metals, and Steel – Increasing use of alloy, metals and specially steel in pipelines, reactors is becoming a strong growth factor of coil coatings market. As per a report, the production of crude steel was reached nearly 1950 million tons in 2021. Whereas use of steel (in its finished form) touched the figure of around 1832 million tons in the same year.
- Significant Increase in Construction Industry - In 2019, the global construction industry generated nearly USD 2.1 trillion revenue.
- Boost in Automotive Industry - The global automotive industry is expected to generate nearly USD 1.7 trillion in revenue by the end of 2030.
- Worldwide Expansion in Chemical Industry – For instance, in 2021, the global chemical industry generated approximately USD 4.80 trillion revenue.
Challenges
- Increasing Cost of Raw Materials of Coil Coatings
- Growing Demand for Lightweight Materials in Automotive Industry
- Storage and Transportation Hurdles
Coil Coatings Market Size and Forecast:
|
Base Year |
2024 |
|
Forecast Year |
2025-2034 |
|
CAGR |
4.1% |
|
Base Year Market Size (2024) |
USD 3.66 billion |
|
Forecast Year Market Size (2034) |
USD 5.47 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of coil coatings is assessed at USD 3.79 billion.
Coil Coatings Market size was over USD 3.66 billion in 2024 and is anticipated to cross USD 5.47 billion by 2034, witnessing more than 4.1% CAGR during the forecast period i.e., between 2025-2034.
North America is likely to hold largest industry share by 2034.
The key market players include DuPont de Nemours, Inc., PPG Industries, Inc., Henkel AG & Co. KGaA, Akzo Nobel N.V., Kansai Paint Co., Ltd., Eastman Chemical Company, and others.
