In a recent published report, Kenneth Research has updated the market report for Functional Coil Coatings Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Functional Coil Coatings Market products.
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Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
Global Functional Coil Coatings Market was valued at USD 554 Million in the year 2018. Global Functional Coil Coatings Market is further estimated to grow at a CAGR of 4.72% from 2019 to reach USD 515 Million by the year 2025. In the Global Functional Coil Coatings Market, by region Asia Pacific region holds the highest Market share in 2018 and is also Market is considered as the fastest growing Market in the forecasted period owing to their Market demands. At a country level, China and India in Asia-Pacific are projected to grow strongly in the coming years owing to increase in population rate, advancement in steel and aluminum Market, and stable economic growth.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The report segments the global functional coil coatings Market based on technology, product type, end user, and region. By product type, the global functional coil coatings Market is categorized into topcoat, primer, and backing coat of which top coat segment holds the highest Market share in the coming years. On the basis of technology, the Market is divided into liquid coating and powder coating of which liquid coating accounted for the largest share of the global Market.
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SWOT analysis of Functional Coil Coatings Market
Strength:
Rapid growth of construction and automotive Market
Fluctuations in Furniture and home appliance Market
Weakness:
High cost of the processes
Consumer’s preference for low price products
Opportunities:
Recycling coating tools and use of Organic material
Threats:
Technological Advancements
Major market players Functional Coil Coatings Market in are KCC paints SDN BHD, KelCoatings Limited, Daikin Industries, Ltd., NIPSEA Group, BASF SE, Akzo Nobel N.V., Valspar Corporation, Axalta Coating Systems (Axalta), PPG Industries, Henkel AG & Co. KGaA, and 6 more companies detailed information is provided in the report.
Functional Coil Coatings Market Segmentation
Functional Coil Coatings Market Overview, By Product Type
*Topcoats
*Primers
*Backing Coats
*By Technology
*Liquid Coating
*Powder Coating
Functional Coil Coatings Market Overview, By End Users
*Construction
*Appliances
*Automobile Market
*Others
Functional Coil Coatings Market Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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Reasons to Purchase this Report
*Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
*Provision of market value (USD Billion) data for each segment and sub-segment
*Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
*Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
*Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
*Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
*The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
*Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
*Provides insight into the market through Value Chain
*Market dynamics scenario, along with growth opportunities of the market in the years to come
*6-month post sales analyst support
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