North America & Mexico Coil Coatings Market - Forecast(2024 - 2030)
North America & Mexico Coil Coatings Market Overview
The North
America & Mexico coil coatings market size is forecast to reach US$1.4 billion in 2026, after growing at a CAGR of 3.6% during 2021-2026, due to increasing
non-residential
construction activities, including offices, institutions, clinics, health care
centers, and factories. Coil coatings are highly used in the construction and
automotive industry due to its aesthetic behavior such as anti-settling agents, anti-foaming agents, wetting
agents, leveling agents, reactive diluents, plasticizers, and surface modifiers. In addition, many polymers are used in
coil coatings such as polyvinylidene difluoride, polyester, polyurethane and
plastisols for industrial applications. These
coating plays a vital role for automotive aerospace, transportation, building
& construction, and others. According to the US Census Bureau residential construction projects increases 11.7% in
August, 11.6% in September, and 14.6% in October 2020. Apart from this, the U.S. construction companies
expending more than US$10 trillion in goods & services and employing over
10 million workers. Thus, such factors are expected to grow North America
& Mexico coil coatings industry.
Impact of COVID-19
The COVID-19 pandemic has changed the order of the supply chain of products. COVID-19 created change in the global market due to the temporarily closure of manufacturing plants. The industries such as automotive, transportation, construction had halted their progress. According to “International Organization of Motor Vehicle Manufacturers (OICA)”, vehicle production in North America fell by 20% in 2021. Thus, many countries including U.S. also shut their expenditure in construction sector, which has created hurdles for the North America & Mexico coil coatings market.
Report Coverage
The report: “North America & Mexico Coil Coatings Market – Forecast (2021-2026)”,
by IndustryARC, covers an in-depth analysis of the following segments of
the North America & Mexico Coil Coatings
Industry.
By
Resin Type: Polyester (Polyester Melamine and Siliconized Polyester),
Polyurethane, Epoxy, Vinyl, Acrylics, Fluoropolymers (PVDF), Plastisol, and Others.
By
Metal Substrate: Steel (Cold Rolled Steel, Hot Rolled Steel, Electro
Galvanized Steel, and Hot Dip Galvanized Steel), Copper, Aluminum, and
Others.
By
Application: Automotive (Fuel Tanks, Under-hood, Body Panels, Brake Components,
Automotive Exterior & Interior Trim Components, Engine Components, others),
Appliance (HAVC, Refrigeration (Refrigerator Wrappers, Doors, Interior), Stove, Dishwasher, Washer or dryer, Ovens, Others)}, Building and Construction {Panel (Exterior Panels and Interior Panels), Wall Cladding,
Roofing, Garage Doors, Indoor Applications, others)}, Furniture (Metal
furniture, File cabinets, Partitions, and Others), Container/Packaging
(Cans/Containers, (Ends, Tabs, Closures), (Barrel, Drums, Pails), others},
Transportation (Marine, Locomotive, and Aerospace), Electronics (Sings and
Displays, Computer Components, Consumer Electronics, others), and Others.
By Country: United
States, Canada, and Mexico.
Key Takeaways
- United States dominates the North America & Mexico coil coatings market owing to a growing population with housing demand and huge expenditure in residential and non-residential building construction.
- Increasing demand for polyester with excellent durability, which has emerged recently with improved formulation making for a significantly improved durability, particularly in resistance to UV degradation is further fueling the demand for polyester coil coatings.
- Increasing demand for lightweight materials like polyvinylidene
difluoride and polyurethane in the automotive and transportation industry is likely to hamper the
market growth.
Figure: North America & Mexico Coil Coatings Market Revenue Share, By Country, 2020 (%)
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North America & Mexico Coil Coatings Market Segment Analysis – By Resin Type
Polyester held the
largest share in North America & Mexico coil coatings industry by resin
type segment with a share of 59% in 2020. Polyesters prevent from UV light
and provide a basic barrier coat, which prevent corrosion of the substrate.
Polyesters are used for internal and exterior building applications including
wall and roof cladding in mild and dry climates. Polyester coatings are thick
up to 60 µm, which offer extra durability in outdoor applications, while
thinner polyester coatings are used where cost is important. Coil coatings which are used
as surface modifier to improve surface properties and leveling agent due to
their compatibility in several industrial
sectors such as construction, electrical appliances and transport, are
based on polyurethane, polyester and polyvinylidene difluoride.
Thus, increasing demand of coil coatings are expected to grow market size.
North America & Mexico Coil Coatings Market Segment Analysis – By Metal Substrate
Steel held the largest
share with more than 83% for North America & Mexico coil coatings market in
2020. The growing demand for cold rolled steel, hot rolled steel from the building and construction industry, where steel is used for
facades, ceiling systems, and a variety of ancillary components drive the
market growth. Steel provides various functionally to a wide range of various applications
including building materials, home electric appliance, automotive, and other industries, which further influence the market growth.
North America & Mexico Coil Coatings Market Segment Analysis – By Coat
Prepainted coils
lead the market of North America & Mexico coil coatings with a share of
more than 40% in 2020. The uses of prepainted coils are increasing continuously
because they offer excellent exterior durability. Hence, these are used in
building panels, air conditioning outer panels, home appliance, commercial
appliance, and others. Apart from this, coated coils are used in the transport
sector and domestic appliance industry, as well as for furniture, doors and
shutters, which will increase the demand of coil coatings in near future.
North America & Mexico Coil Coatings Market Segment Analysis – By Application
Building and Construction segment dominates the North America &
Mexico coil coatings market in 2020 with a share of more than 82% during the forecast period. The major share can be owed to used surface
modifiers for coil coatings that creates excellent scratch resistance for
superior longevity, which makes it an ideal leveling agent for interior and
exterior construction. Coil coating is a
multi-layer coating of resins which is used to coat metal sheets. Preprinted
metal is a perfect choice for interior and exterior wall panels. Coil coating is available in cool
infrared reflective pigment technology. It saves energy and money to reduce
building’s interior temperature. The U.S. construction industry is the world’s
largest country, where planning for green construction techniques. Green
construction techniques included building design which reduces electrical cost
and preserving the environment. Thus, increasing demand for green building
construction in U.S. will boost the North
America & Mexico coil coatings market. The Canadian Government announced in 2020, Canada's Strengthened
Climate Plan to invest US$15 billion towards a
healthy environment and US$1.5 billion for green buildings over five years.
Hence, such factors will contribute to the growth of North America & Mexico
coil coating market.
North America & Mexico Coil Coatings Market Segment Analysis – By Country
The United States dominated North America
& Mexico Coil Coatings Market with share of more than 79% in 2020, due to booming construction activity and spending
expenditure in residential and institutional buildings. Coil coatings are used
as surface modifier to control surface lubricity and appearance. US
non-residential sectors are rapidly growing due to increasing demand for housing
with growing population, which is expected to boost the demand of North America
& Mexico coil coatings market. Non-residential
construction including lodging, commercial offices and education sector is
expected to reach 473 billion U.S. dollars by 2024 in the United States. The
value of new non-building construction
is
predicted to reach US$273 billion by 2024. Thus, the construction industry in United States
is estimated to reach revenue of US$1,819.1 billion by 2024, which will increase
market size of North America & Mexico coil coatings.
North America & Mexico Coil Coatings Market Drivers
Robust Growth in Construction Industry in USA
Growth in infrastructure such as commercial buildings, factories, and
industrial are promoting the market growth and improving connectivity as coil coatings
offer weather and corrosion resistance to metals for a long period. The
infrared technology in the coil coating aids in easing the building’s interior
temperature, thereby saving energy. U.S. construction
industry is to contract by 2.0% in 2021 and is expected to grow at a CAGR of 5%
by 2024. Increase in residential building permit applications of over 4% year
over year. Hence, the growth of construction sector in U.S. will be propel the
demand of North America & Mexico coil coatings market.
Growing Demand from Automotive Sector
With high tensile strength and ecofriendly nature, coil coatings are widely
used as leveling agent in aerospace applications. Due to good adhesion property
along with product quality its demand is increasing from the industrial sector. Coil
coatings has superior corrosion resistance and flexibility. Thus, increasing
applications of coil coatings in the automotive industry have ushered the
technical coil coatings market’s growth. In 2019, according to
the American Automotive Policy Council, in the United States 10.8 million cars
and trucks were produced. Additionally, 13.7 million were sold vehicles
including cars and trucks in the U.S., Canada and Mexico. Hence, the production
will increase around 12 million per year by 2025, which will boost North America &
Mexico coil coatings market.
North America & Mexico Coil Coatings Market Challenges
Limitation in Storage and Transportation
Transportation
and storage of the coil coatings are major factors that hamper the market
growth. The high energy and electricity consumption required for coil coating
process and expensive coating technologies are the major limitation for the growth
of the North America & Mexico coil coatings market. Whereas, the Increasing
demand for lightweight materials like polyvinylidene difluoride and polyurethane in automotive
industry and transportation difficulty of coil coating will pose as market challenges
to the growth of coil coating market. The lack of safe transportation
facilities of coil coating in the emerging and developing economies may hamper
the coil coating adoption. Further, the coil coatings preserve oil to maintain
the finishing. Coil coatings require certain precautions to maintain their
quality, which can hamper the market of coil coatings.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the North America & Mexico Coil Coatings Market. Major players in the North America & Mexico Coil Coatings Market are:
- Material Sciences Corporation
- Mitsubishi Chemical America, Inc.
- Aleris Corporation
- Metal Coater Systems
- PPG Industries
- AkzoNobel
- Beckers Group
- Axalta Coatings Systems
- NIPPONPAINT Co., Ltd.
- Kansai Paint Co., Ltd.
- Sherwin-William Company, and
among others.
Acquisitions/Technology Launches
- In December 2020, the coil coatings division of Sherwin-William Company has launched a new platform for its polyester technologies PolyPREMIER™. The company will continue to be developed and enhanced PolyPREMIER™ line in the future, which make it easy for consumers in various application.
- In July 2020, AkzoNobel launched TRINAR A-CLAD, a new coil coating system for aluminum composite panels. TRINAR A-CLAD is a high-performance polyvinylidene fluoride (PVDF) coil coating system, which is very useful for commercial and monumental aluminum composite panel projects.
Relevant Reports
North
America Coil Coatings Market – Forecast (2021 - 2026)
Report Code:
CMR 1173
Coil Coatings Market – Forecast (2021 - 2026)
Report Code: CMR 0069
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