Global Functional Coil Coatings Market to Surge, as Eco-friendly Coatings Gain Traction
Increasing volatile organic compounds (VOCs) emission and hazardous air pollutants (HAPs) from conventional coil coatings have led to environmental degradation. Solvent based, functional coil coatings hold a prominent share in the market which release higher amount of VOCs as compared to bio-based coating alternates. Stringent regulatory policies pertaining to VOC emissions and (HAPs) have left a substantial influence on global functional coil coatings market.
With the enactment of stricter policies to curb air pollution caused due to hazardous emissions, conventional functional coil coatings are likely to be replaced soon by bio-based and ecofriendly coil coatings. Key players have started investing in the development of bio-based, environment-friendly, functional coil coatings. For instance, in 2017, Axalta Coating Systems has introduced a line of eco-system coatings for building components, which can reduce HAPS, lower the VOC emissions, and minimize hazardous waste disposal. On this backdrop, functional coil coating market is expected to register a growth of ~5.4% during the forecast period.
Water Based Coatings to Bolster Growth of Functional Coil Coatings Market
Stringent government regulations have increased the demand for water based functional coil coatings. Manufacturers are investing heavily on research and development activities to develop innovative water borne coil coatings. Rising inclination towards water based coating has also enhanced its applicability in the power industry and electrical & electronics, driving the consumption of water based functional coil coatings. Water based functional coil coatings reduce VOC emissions by 80%, thus giving impetus to the growth of functional coil coating market globally.
Europe to maintain its Hegemony, APEJ Buckling UP
Europe accounts for around one-third of the global functional coil coatings market on the back of its huge building & construction sector and strict regulatory policies in the region. Over 70% of functional coil coatings is utilized by building & construction industry. Similarly, US has witnessed tremendous growth in functional coil coatings market owing to healthy demand from residential and commercial segments. APEJ is expected to maintain its dominance in the market throughout the forecast period in terms of volume. This can mainly be attributed to the growing consumer appliance industry in China and India, supported by growing infrastructural investments.
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Market Leaders to Contribute One Third Market Share in Global Functional Coil Coatings Market
The global market for functional coil coatings is highly concentrated, with regional players holding a two-third share in the global market. Akzo Nobel N.V., Beckers Group, Kansai Paints, Jotun Paints, PPG Industries Inc., Solvay Group, Clariant, Duracoat Products Inc. and Eastman Chemical Company are some of the key stakeholders engaged in manufacturing of functional coil coatings.
Regional players have a specialized R&D base and technology specifically focused on varied requirements of functional coil coatings. Moreover, these players offer coating services at reduced bulk prices with lesser delivery-lead time, thus proving economical to the end use sector OEMs. In addition, several organic and inorganic strategies have been observed by prominent players. Investments done by aforementioned companies will increase their market penetration and will meet the demand for functional coil coatings market over the forecast period.
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Functional coil coating market is envisioned to observe an impressive rise in the forecast period 2019 to 2029, according to a new Fact.MR study. The study propounds key trends that are currently shaping the growth of the functional coil coating market. This newly published and insightful report sheds light on key dynamics, which are expected to transform future of the functional coil coating market, in turn creating lucrative avenues for prominent companies as well as emerging players associated with the manufacturing of functional coil coating.
Functional coil coating market study is an intricate market intelligence on key revenue growth determinants, challenges, industry trends, and opportunities, which will eventually influence the growth trajectory of the functional coil coating market. The report initially imparts an overview of the functional coil coating market, considering current and future prospects, to unveil attractive facets appertaining to the adoption of functional coil coating across key regional markets.
An in-depth assessment on few of the functional coil coating suppliers offered in the report enables the report readers to gain detailed insights that have been derived from the functional coil coating supply chain analysis, business performance, and value chain analysis across the regional markets incorporated in the report. A list of key companies operating in the functional coil coating market provided in the report adds to the credibility of this exhaustive research study.
Functional Coil Coating Market: Report Summary and Scope
The study offers detailed intelligence on different factors influencing demand, sales, and revenue generation in the functional coil coating market around the world. The opportunity analysis included in the report is beneficial for the readers to understand better opportunities, which will, in turn, trigger the adoption of functional coil coating. An elaborated cost structure analysis provides the report with innate completeness, and study offered on the cost structure involves all the regional markets incorporated for functional coil coating.
A detailed forecast on the functional coil coating market has also been offered by the analysts, who have categorized the market forecasts concerning a likely scenario, conservative scenario, and an optimistic scenario regarding production and sales of the functional coil coating during the period of forecast. Analysis and assessment of price point by region and different types of functional coil coating have been included in this study. The study also exerts details on aspects impacting pricing strategies of the manufacturers of functional coil coating. Segmentation of the functional coil coating market has been provided in the form of a taxonomy table in the report.
Key Segments Covered in the Functional Coil Coating Market Report:
Braking & Suspension
Functional Coil Coating Market: Analysis on Market Size Evaluation
Prospects of the functional coil coating market, containing current as well as future projected values forecast, price index, and analysis on region-wise demand trends have been incorporated in the report. Assessment offered on the factors mentioned above is comprehensive, and dedicated weighted chapters have been delivered on the same.
Market valuation at global and regional scale for the functional coil coating is offered in terms of “US$ Mn.” A Y-o-Y growth comparison on key functional coil coating market segments, along with the market attractiveness assessment quantifies insights delivered in the report. Metrics mentioned above are also tracked based on functional coil coating technology, product type, application, material type, end-use and regions where functional coil coating witnesses consistent demand.
Functional Coil Coating Market: Scrutinized Assessment on Regional Segments
Weighted chapters have been included in the report on the functional coil coating market, which imparts forecast on the regional markets. These chapters illuminate the regional macros (business, economic, and political environment outlook), which are most likely expected to have a significant impact on the growth of the functional coil coating market in the near future.
Country-specific assessment on demand for the functional coil coating has been provided for each regional market, along with the market size valuation and forecast, price point assessment, price index, and impact analysis of key regional and country-wise dynamics. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report
Functional Coil Coating Market: In-depth Analysis on the Competitive Landscape
The report concludes with a weighted chapter on the competitive landscape of the functional coil coating market, which profiles key companies contributing to the market expansion. Up-to-date and essential data as well as knowledge related to the market players, who predominantly engage in the production and distribution of the functional coil coating, has been delivered with the help of a dashboard view. Market share comparison and analysis of these market players offered in the report enables the report readers to devise strategic steps forward for their businesses.
Company profiles have been incorporated in the report, which exerts details such as manufacturing of functional coil coating, along with a comprehensive SWOT analysis on each player identified together with the company strategies identification and analysis. The intensity mapping of the market players operating in the functional coil coating market provides readers with actionable intelligence, which helps in understanding the current market status, and prospects determining competition levels in the functional coil coating market.
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