AkzoNobel Invests USD 10 Million in Rapidly Growing Indian Powder & Coil Coating Market; Intense Competition Between AkzoNobel, Valspar, PPG, and BASF

Sep 14, 2016, 11:30 ET from Mordor Intelligence

HYDERABAD, India, September 14, 2016 /PRNewswire/ --

Mordor Intelligence announces the publication of their research report on the coil coatings market. The report titled, "Global Coil Coatings Market - Segmented by Type, end-user industry, and Geography - Trends and Forecasts" discusses the current landscape and outlook of the market.

The global coil coatings market was valued at USD 4.986 billion in 2015. The market is projected to reach USD 7.39 billion by 2021, growing at a CAGR of 6.77% during the forecast period (2016-2021).

The market for coil coating is driven by factors, viz. the economic benefits associated with coil coatings, innovative end-user applications and the accelerating demand from the construction industry. However, this market faces certain drawbacks, such as higher costs of pre-painted metal sheets and a lack of awareness in Asian countries.

The global coil coatings market has been segmented into polyester, acrylics, epoxy, polyurethanes, plastisols, fluoropolymer and 'others.' Based on end-user industry, the market is segmented into building & construction, industrial & domestic appliances, transportation, home & office furniture, HVAC and 'others.' Based on geography, the market is segmented into North America (United States, Canada, Mexico, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, ASEAN countries, Rest of APAC), South America (Brazil, Argentina, Rest of South America), and Middle-East and Africa (Saudi Arabia, South Africa and Rest of Middle-East & Africa).

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The building and construction is the fastest growing segment in the market, accounting for 76.11% share of the global coil coatings market in 2015. Asia-Pacific is expected to witness the highest growth rate during the forecast period, followed by North America. Rapid development in the non-residential construction activities in the APAC region, is expected to drive the market here. Moreover, the metal industry in China is poised to witness a significant growth during the forecast period.

Some of the major companies dominating this market for its products, services, and continuous product developments are AkzoNobel Coatings, Valspar, Beckers Group, PPG Industries and BASF.

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