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Global Color Coated Steel Market Insight December 30, 2021 Comments

The color coated steel is forecast to increase quickly over the next four years. According to the World Knowledge Information (WKI) “Global Color Coated Steel Professional Survey Report 2021, Forecast to 2026”, The growing demand of end-use industries such as construction, automobile and electrical appliances is the main driving force to promote the development of the global color coated steel market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 6.21% base on WKI regression analysis model.

Analysts’ Viewpoint:

“From the current industry situation, the color coated steel market is scattered, the industry concentration is low, and the industry access threshold is low. Enterprises in the investment wait-and-see period can seize the opportunity.”said Selena, Senior analyst, Chemical & Material Market Research Center in WKI.”In addition, with the continuous improvement of per capita income, products used for kitchen, roof and basic home decoration and upgrading will have bright development prospects.”

Market insight:

Because steel is vulnerable to aggressive chemical environment or even simple atmospheric oxidation, coatings are needed to provide varying degrees of protection. Color coated steel composites are ubiquitous in body and engine components. In addition, the color coated steel composite has high gloss and can be used in the production of household appliances such as refrigerators and washing machines. Color coated steel composites in home appliance industry have the advantages of high-speed production of plates, removing the coloring stage of the production line of home appliance factory, improving product quality and eliminating gas pollutants. Due to its many advantages, it promotes the increase of demand for color coated steel and the expansion of the market scale of color coated steel.

However, there are still some factors that need to be considered by the industry participants of color coated steel. For example, PVC coating is harmful to human health and an important factor hindering the development of color coated steel market.

Competition Landscape:

The main market participants operating in the global color coated steel market are JSW (India), ArcelorMittal (Luxembourg), SSAB (Sweden), POSCO (South Korea), JFE Steel Corporation (Japan), NLMK (Russia), NIPPON STEEL & SUMITOMO METAL CORPORATION (Japan), Essar (India), Tata Steel (India), thyssenkrupp AG (Germany), Salzgitter Flachstahl GmbH (Germany), Uttam Galva Steels Limited (India). and others.

Segmentation of Color Coated Steel Market:

According to the type of primer, the market of color coated steel can be divided into epoxy primer, polyester primer, polyurethane, PVC and others. Epoxy primer occupies the leading position in the color coated steel market. Epoxy anti rust primer is used for active anti-corrosion and anti rust protection of steel surface. Epoxy primers are suitable for roofs because they contain chromate pigments to improve corrosion resistance. Because it is very hard and friction resistant, it can be used as a coating to protect silos, steel bridges, iron roofs, pipes, fences, etc. Due to its superior performance, it will promote the expansion of this market segment. According to the application, the market of color coated steel can be divided into construction, household appliances, automobiles and others. The construction sector accounts for the highest revenue share in the global color coated steel coil market. The acceleration of urbanization in the Asia Pacific region has promoted the growth of construction and construction applications, resulting in increased demand for residential, commercial and industrial infrastructure. Color coated steel composites have UV resistance (up to RUV4), energy saving, scratch resistance, good formability and color stability for many years, so they are very suitable for roofs in the construction industry. In addition, the rising demand for new houses with low interest rate housing loans will eventually promote the increase of market demand and the expansion of the market scale of color coated steel.

Color Coated Steel Market: Regional Analysis

In terms of geography, the global color coated steel market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.Due to the increasing use of steel composites in the construction industry, the Asia Pacific region has the largest share in the coated glass market and will continue to maintain a leading position during the forecast period. It is expected that China, India, Japan and South Korea will lead the Asia Pacific color coated steel composite market, of which China accounts for the largest share of the demand for color coated steel in the region. China is the world’s leading construction market; Therefore, China has a large demand for color coated steel plates. In addition, China is also the world’s largest steel exporter, exporting steel to many countries and regions, promoting the continuous expansion of the global color coated steel market.

 

Cagr: 6.21%
Largest share area:Asia-Pacific
Largest share country:China