According to a recent market study published by Growth Market Reports, titled, “Color Coated Steel Market by type, by application, by product, and by Region: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 24,459.9 Million in 2020 and is anticipated to grow at a growth rate of 4.9% by the year 2028.

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A color coating is a liquid paint or a protective organic layer applied to a steel substrate in a steel coil. The coating is used to protect steel from corrosion caused by external forces such as atmospheric exposure over time, making it stronger and assisting it in maintaining its integrity. Color coated steel, commonly known as pre-painted steel, is a specialized product created from cold-rolled rolled steel or galvanized steel.

Key factors that are anticipated to fuel the demand for color coated steel during the forecast period are rising usage of color coated steel in the automotive industry, growth in the automotive industry increases the demand for color coated steel for manufacturing vehicles, and due to their low production cost and various benefits offered by color coated steel to the automotive industry is expected to drive the market. Conversely, stringent regulatory framework imposed by the government is likely to restrain the market. Increasing demand for eco-friendly products globally is creating opportunities in the market.

As per Growth Market Reports analyst Sakshi Bhoyar, “The Color Coated Steel Market is expected to witness substantial growth during the forecast period 2021-2028. Rising application of color coated steel in various end-user industries such as automotive and construction industry, as the color coating steel is high in compressive strength with excellent fire safety characteristics. Color coating steel provides raw material to the electrical industry by reducing operational costs, and available in various color option for decorative design practical effect which is expected to drive the market in the forecast period.”

The growing demand for color-coated steel is increasing in countries like India, Japan, China, due to the increasing number of infrastructural and smart cities projects. Many foreign investors are coming forward for investment in infrastructural projects in India. Moreover, the Indian government has initiated projects such as smart cities, housing for all by 2022, and rural development is expected to drive the residential construction market in India. Moreover, anti-dumping regulations have been imposed by the Government of India, in a variety of steel products for encouraging domestic manufacturers to produce more steel, and guard them against cheap imports from like China, Korea, and Japan. "

COVID-19 has negatively impacted the market due to the decline in supply and demand. Researchers in several countries are working on creating affordable and attractive color-coated steels that can be used for the beautification of houses. These advances are anticipated to have a significant impact on the construction and steel industry.

The COVID-19 pandemic has moderately declined the market. Once construction and automotive sectors recover from the impact of the pandemic, the market is likely to restore. As a result, the outbreak of the COVID-19 pandemic had a negative impact on the global color coated steel market. Furthermore, Investors were restricted from investing in the industries, and the key players in the market were extremely worried. Investment in the construction and automotive industry is typically high across the region, due to the COVID-19 pandemic, which reduced end-user investments in innovative and advanced products and technologies.

The Color coated steel value chain includes activities such as strategy, product development, scoping, user documentation, marketing, implementation, training and certification, maintenance and support, licensing, and operation.

Key Takeaways from the Study

  • The players including color coated steel market include ArcelorMittal, Baosteel, Metal Products Co. Ltd, DONGKUKSTEEL MILL CO., LTD., KOBE STEEL, LTD., JSW Steel, Coated Products Limited, SEVERSTAL, BlueScope Steel Limited, ThyssenKrupp Steel Europe, NIPPON STEEL CORPORATION, J. K. Steel Strips LLP, United States Steel Corporation, NLMK, and NSAIL hold a major market share of color coated steel market in the year 2020.

  • In terms of types, the market is segmented into polyethylene coated steel, high durable polyester coated steel, silicon modified polyester coated steel, and polyvinylidene fluoride coated steel. In 2020, the polyethylene coated steel segment had a significant market share and is expected to grow with a substantial CAGR over the forecast period, owing to the rising adoption of coated steel in the construction industry.

  • On the basis of applications, the global color coated steel market is segmented into outdoor construction material, indoor applications, home appliances, windows, electrical control panels, and others. The outdoor construction material segment had a significant market share owing to the strong presence of manufacturing industries that use color coated steel products for roofing and covering of exterior walls.

  • On the basis of products, the global color coated steel market is segmented into coils, plain sheets, profile sheets, and others. The coils segments are expected to grow rapidly over the forecast period due to the growing usage of coils in electric control panels and home appliances.

Scope of Color Coated Steel Market Report 

Report Metric

Details

Market Value in 2020

US$ 24,459.9 Million

Market Growth Rate (from 2020 to 2028)

4.9 %

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Type, By Application, By Product, and By Region

Key Companies Profiled

ArcelorMittal, Baosteel, Metal Products Co., Ltd, DONGKUKSTEEL MILL CO., LTD., KOBE STEEL, LTD., JSW Steel, Coated Products Limited, SEVERSTAL, BlueScope Steel Limited, ThyssenKrupp Steel Europe, NIPPON STEEL CORPORATION, J. K. Steel Strips LLP, United States Steel Corporation, NLMK, and NSAIL

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

 

Target Audience

  • Supply-side: Manufacturers and distributors
  • Demand Side: Construction Industry and Automotive Industry.
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.
  • Associations and Industry Bodies: Environmental Protection Agency, Occupation Safety & Health Administration, World Steel Association, Bureau of Indian Standards and others.