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SAN FRANCISCO , April 13, 2022 /PRNewswire/ -- 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.
Key Insights & Findings from the report:
Read 129-page market research 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", published by Grand View Research.
Pre-painted Steel Coil Market Growth & Trends
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.
Pre-painted Steel Coil Market Segmentation
Grand View Research has segmented the global pre-painted steel coil market on the basis of application and region:
Pre-painted Steel Coil Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
Pre-painted Steel Coil Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030)
List of Key Players of Pre-painted Steel Coil Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.
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