Functional Coil Coatings Market: Overview
Functional coil coatings is a method of applying an organic coating material on rolled metal sheets such as stainless steel, steel, and aluminum before it is flexed, reshaped, or deep-drawn. Functional coil coatings are usually powder- or liquid-based materials applied to pretreated substrate to prevent corrosion. A conventional functional coating process involves cleaning of substrate, drying, application of primer coating and top coating, and foil lamination.
Functional Coil Coatings Market: Drivers & Restraints
Surge in demand for functional coil coatings from electrical & electronic, construction, and automotive industries is driving the functional coil coatings market. Functional coil coatings offer superior corrosion resistance, flexibility, and stain resistance. Moreover, growth in the construction industry in emerging economies in Asia Pacific, Latin America, and the Middle East and renovation of old building structures in various countries in Europe and North America are boosting the functional coil coatings market. Furthermore, rise in automobile production in Japan, South Korea, India, and China drives the functional coil coatings market in Asia Pacific. However, replacement of metals with engineered plastics is likely to hamper the functional coil coatings market during the forecast period. Increase in penetration of functional coil coatings in pharmaceutical packaging, and aerospace applications is expected to create lucrative opportunities in the functional coil coatings market.
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