New York City, NY, 20 April, 2020/ 24 Market Reports: It is estimated for the global coil coatings market to reach USD 6,760.44 million by 2021 at a CAGR of 4.1% during the forecast period. Increase in the demand in building and construction, appliance, automotive, and other end-user industries are driving the market during the forecast period. Thus the market is showing growth in recent years.
Asia Pacific region to lead the global market during the forecast period
Asia Pacific region is estimated to lead the global market during the forecast period. China is leading the market during the Asia Pacific region. Japan and India are estimated to grow at a significant rate in the market during the forecast period. The market volume of coil coatings is comparatively low in the RoW region, but the estimated growth for the region is second highest after Asia-Pacific.
Various end-use industries of coil coatings to drive the market during the forecast period
The drivers of the coil coating industry are growing demand from downstream industries, increasing competitiveness of leading coil coating manufacturers, high growth in the construction and automotive industry, product quality and differentiation, cost and line versatility, stringent government regulations and growing environmental compliance, and fluoropolymer continues to grow in building and construction market.
Building and construction segment to lead the market during the forecast period
Building and construction segment is estimated to lead the market during the forecast period. The automotive segment is estimated to grow at a significant rate during the forecast period. Owing to their emerging market demands, the Asia-Pacific and the RoW regions are the most active markets in terms of strategic initiatives.
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