Pre-painted Steel Coil Market To Witness A Significant Growth Of USD 23.34 Billion By 2030

 San Francisco, 9 May 2022: The Report Pre-painted Steel Coil Market Size, Share & Trends Analysis Report By Application (Metal Buildings, Post-frame Buildings), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2022 - 2030

The global pre-painted steel coil market size is expected to reach USD 23.34 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2022 to 2030. Growth in e-commerce and retail activity is set to augur growth during this period. Pre-painted steel coils are used for roofing and wall paneling of buildings, and their consumption in metal- and post-frame buildings is on the rise. The metal building segment is anticipated to witness the highest consumption over the forecast period owing to the demand from commercial buildings, industrial buildings, and warehouses. Post-frame buildings consumption was driven by the commercial, agriculture, and residential segments.

The COVID-19 pandemic has led to an increase in online shopping activity. This has led to the growth in warehousing requirements around the world. E-commerce companies are scaling up operations due to the increased online shopping by consumers. For instance, e-commerce companies in developing economies such as India floated lease tenders for large warehousing spaces of the order of 4-million square feet to expand their operations within metro cities in 2020. Demand for urban Indian logistic space of the order of 7-million square feet is expected to be witnessed by 2022.

Pre-painted steel coil is manufactured by using a hot-dip galvanized steel coil as a substrate that is coated with layers of organic coating to prevent it from rusting. A special layer of paint is applied to the back and top of the steel coil. There can either be two or three layers of coating, depending upon the application and customer requirement. This is sold to roofing and wall paneling manufacturers either directly from pre-painted steel coil manufacturers, service centers, or third-party distributors. The market is fragmented and is characterized by strong competition owing to the presence of Chinese manufacturers selling across the world. Other manufacturers sell within their region and compete on the basis of product innovation, quality, price, and brand reputation.

Recent technology innovations such as the no-rinse pre-treatment, thermal curing techniques of paint using infra-red (IR) and near infra-red (IR), and new techniques that allow efficient collection of volatile organic compounds (VOCs) have improved product quality and producer cost competitiveness. In order to mitigate the impact of COVID-19 on operations, many manufacturers have looked at ways to minimize market opportunity losses for growth by investing in R&D, accessing financial and capital markets, and mobilizing financial resources internally to achieve cash flow. Players also have their own service centers with slitting, cut-to-length, and processing activities in order to offer customized solutions with lower Minimum Order Quantities (MOQ). Industry 4.0 is another trend that is gaining importance during the post-COVID era to curb losses and costs.

Access Research Report of Pre-painted Steel Coil Market @ https://www.grandviewresearch.com/industry-analysis/pre-painted-steel-coil-market-report

Pre-Painted Steel Coil Market Report Highlights

• In terms of revenue, the metal buildings application segment is projected to register the highest growth rate from 2022 to 2030. Industrialization and growth in online retail markets across the world have given rise to the demand for industrial storage spaces and warehouses as the number of e-commerce and distribution stores have increased
• The metal buildings application segment accounted for over 70.0% share of the global volume in 2021 and was driven by growth in the commercial and retail segments. Commercial buildings dominated the segment in 2021 and are projected to be driven by the rising demand for warehouses and cold storage
• Asia Pacific was the largest regional market in 2021, in terms of both volume and revenue. Investment in pre-engineered buildings (PEBs) was the main factor for the market growth
• North America is expected to exhibit the highest CAGR from 2022 to 2030, in terms of both volume and revenue. The increasing preference of real estate developers for prefabricated buildings and modular construction is contributing to this demand
• The industry is fragmented and characterized by strong competition owing to the presence of prominent manufacturers from China serving major geographies across the globe

List of Key Players of Pre-painted Steel Coil Market

• ArcelorMittal
• Alucosuper New Materials Co., Ltd.
• Dana Steel Industry LLC
• Nippon Steel Coated Sheet Corporation
• NLMK
• POSCO
• UNICOIL
• Shanghai Metal Corporation
• Tata BlueScope Steel

Access Press Release of Pre-painted Steel Coil Market @ https://www.grandviewresearch.com/press-release/global-pre-painted-steel-coil-market