Metal coils are an important component in many undertakings, including construction and automotive design. Due to the crucial role coils play in various applications in the aforementioned industries, their longevity needs to be ensured. Coil coatings are used for just this purpose. Coil coatings, which can be of various types and are used according to the application, are primarily applied over metal coils to enhance their corrosion resistance. Corrosion of metal coils can endanger the structural integrity of the design, which illustrates the importance of coil coatings.
The rising demand from the construction and automotive industries around the world has propelled the global coil coatings market at a rapid pace in the last few years. The market was valued at more than US$4 bn in 2014 and is expected to rise to a valuation of US$6.3 bn in 2023. This projected expansion translates into a CAGR of 5.2% from 2015 to 2023.
Sherwin Williams’ Acquisition of Valspar Set to Shake Up the Competitive Landscape?
The rising demand from the construction and automotive industries around the world has propelled the global coil coatings market at a rapid pace in the last few years. The market was valued at more than US$4 bn in 2014 and is expected to rise to a valuation of US$6.3 bn in 2023. This projected expansion translates into a CAGR of 5.2% from 2015 to 2023.
Sherwin Williams’ Acquisition of Valspar Set to Shake Up the Competitive Landscape?
Competitively, the global coil coatings market is relatively consolidated, with the top four companies accounting for a 55% share in the global market in 2014. However, the competitive scales of the market may have been unsettled in a big way when, last month, Sherwin-Williams Co. announced its plans to acquire paints and coating giant The Valspar Corporation in a massive US$11.3-bn deal. The all-cash deal – the largest in Sherwin-Williams’ history – works out at US$113 per share. The global reach of Valspar Corporation is a crucial reason why the deal could work out immensely well for Sherwin-Williams and alter the global coil coatings market, as it could open up lucrative sales channels in the dynamic economies of Asia Pacific and the Middle East for Sherwin-Williams Co.
The construction and automotive industries in these two regions have experienced massive growth over the last decade. These two industries, being the two major application segments of the coil coatings market, will play a crucial role in the development of the coil coatings market in these two dynamic regions. Sherwin-Williams’ activities in these two industries in the coming years could go a long way in determining the global coil coatings market’s future.
Polyester Coatings to Dominate Global Coil Coatings Market
There are several types of coil coatings available in the global market, polyester, silicone modified polyester, plastisol, polyurethane, and polyvinylidene fluoride being the major ones. Of these, polyester coil coatings took up a dominant volume share of 60% in the global coil coatings market in 2014. Even though the polyester coil coatings segment is expected to remain dominant in the global coil coatings market, the polyvinylidene fluoride segment is expected to exhibit a faster growth rate in the aforementioned forecast period.
Construction Industry to Remain Dominant Application Segment of Coil Coatings Market
The construction industry accounted for two-thirds of the global coil coatings market in 2014. The rising nonresidential construction in Asia Pacific and the Middle East, with the latter benefitting massively from the 2022 FIFA World Cup being held in Qatar, will keep the share of the construction industry dominant in the coming years, though the application of coil coatings in appliances will increase at a higher rate.
Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/global-coil-coating-market.htm
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