SELBYVILLE, Delaware, Feb. 21, 2020 /PRNewswire/ -- As per the report published by Global Market Insights Inc., the overall metal coil lamination market was estimated at $3.67 billion in 2019 and is expected to surpass $5 billion by 2026, registering a CAGR of 5.1% from 2020 to 2026. The report provides a thorough evaluation of the market size and estimations, key investment pockets, drivers and opportunities, top winning strategies, competitive scenario, and wavering market trends.
Increasing installation of components to improve both vehicle exteriors and interiors will initiate huge developmental potential in the metal coil lamination market. In fact, automotive interiors industry players like Adhetec and 3M are already providing laminating films to offer surface protection and improve component appearance and gain a competitive edge over the competition. In addition, the rising adoption of lightweight structures to improve fuel efficiency is also likely to further support the industry expansion.
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Key reasons for metal coil lamination market growth
- Home remodeling and renovation activities to improve product demand.
- Manufacturing techniques that are innovative like additive manufacturing to support market expansion.
- China to lead the demand for metal and polymer laminated coils.
2026 forecasts show lamination type segment recording distinguished growth
With respect to lamination type, the market is classified into metal to polymer and metal to metal lamination. Among these, the films are mainly used in food & beverage industry as well as in metal construction. The polymer film comprises of a layer of base film like vinyl, polyester, and polypropylene which is attached to metal coil with an adhesive.
Metal coil laminations find wide variety of applications in industries which include automotive, appliances, and construction. Today, building contractors and architects are using coil laminations in order to meet the design-based requirements for both residential and commercial installations. Laminated coils could be formed into any required shape. Additionally, they also offer superior resistance to weathering and are available in limitless aesthetic color as well as texture alternatives.
Increasing service sector throughout the world has propelled the demand for commercial office spaces. The aforementioned factors are likely to surge the metal coil lamination market share over the estimated timeframe.
Europe to drive the product demand
From a regional reference frame, Europe metal coil lamination market will witness a steady growth due to favorable regulatory standards for multifunctional as well as smart laminations. Moreover, the consolidating construction sector will further improve the regional penetration over the forecast timeframe.
Industry forecast also alludes North America held over 11.5% share in 2019 owing to increasing restructuring and remodeling activities.
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Robust automotive industry in the region is immensely contributing towards the product demand. Adding to this, supportive government measures to bolster the automotive industry will further impact the metal coil lamination market in the region.
Leading market players
The key players analyzed in the overall metal coil lamination industry landscape include Toyo Kohan Co. Ltd, Sika AG, Mitsubishi Chemical Holdings Corporation, and Jindal Poly Films Ltd among others. These prominent industry players are also implementing innovative production technologies to strengthen their position in the market.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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SOURCE Global Market Insights, Inc.