The global pre-painted steel coil market size is expected to reach USD 23.34 billion by 2030 and is expected to grow at a CAGR of 7.9% from 2022 to 2030
Growth in e-commerce and retail activity will augur well during this period.Painted steel coils are used for roofing and siding in buildings, and consumption in metal and rear frame construction is on the rise.
The metal construction segment is expected to witness the highest consumption over the forecast period owing to demand from commercial buildings, industrial buildings, and warehouses.Rear frame construction consumption is driven by the commercial, agricultural and residential sectors.
For example, e-commerce companies in developing economies such as India have tendered leases for 4 million square feet of large warehouse space to expand their operations in the metropolis in 2020.The demand for logistics space in Indian cities is around 7 – expected to witness one million square feet by 2022.
Color-coated steel coils are based on hot-dip galvanized steel coils and are coated with layers of organic coatings to prevent rusting.The back and top of the steel coil are coated with a special paint.Depending on the application and customer requirements, there can be two or three coats.
This is sold directly to roofing and siding manufacturers from pre-painted coil manufacturers, service centers or third-party distributors.The market is fragmented and highly competitive as Chinese manufacturers sell all over the world.Other manufacturers sell in their area and compete based on product innovation, quality, price and brand reputation.
Recent technological innovations such as no-rinse pretreatment, thermal curing of paints using infrared (IR) and near-infrared (IR), and new technologies that allow for efficient collection of volatile organic compounds (VOCs) have improved product quality and producers cost competitiveness.
To mitigate the impact of COVID-19 on operations, many manufacturers have looked at ways to minimize lost market opportunities for growth by investing in R&D, accessing financial and capital markets, and mobilizing financial resources internally to achieve cash flow.
Participants also have their own service centers that offer slitting, cut-to-length and machining activities to provide customized solutions with lower minimum order quantities (MOQ).Industry 4.0 is another trend that is gaining importance in the post-COVID world to curb losses and costs.
Post time: Jul-06-2022