Pre-Painted Steel Coil Market

Pre-Painted Steel Coil Market Outlook (2022 to 2032)

The pre-painted steel coil market has garnered a market value of US$ 10.64 Billion in 2022, anticipated to register a positive CAGR of 6.4% in the forecast period 2022 to 2032 and reach a value of US$ 19.79 Billion.

Report Attributes	Details
Forecast Period	2022 to 2032
Historical Data Available for	2015 to 2021
Projected Market Value in 2022	US$ 10.64 Billion
Expected Market Value in 2032	US$ 19.79 Billion
Growth Rate (2022 to 2032)	6.4% CAGR
Key Manufacturers	ArcelorMittal; POSCO; NLMK; Nippon Steel Coated Sheet Corporation; Alucosuper New Materials Co., Ltd.; UNICOIL; Shanghai Metal Corporation; Dana Steel Industry LLC

Demand Analysis of Pre-Painted Steel Coil from 2015 to 2021 Vs Future Outlook 2022 to 2032

From 2015 to 2021, the global pre-painted steel coil market registered significant gains, reaching a valuation of US$ 10 Billion in 2021, expanding at a CAGR of 5.8%. Growth in warehousing activities across the world is providing impetus to metal building construction, thus anticipated to drive the market for pre-painted steel coil over the forecast period.

E-commerce and retail activity are 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. Prospects temporarily declined during the height of the COVID-19 pandemic, as the imposition of strict lockdowns led to a contraction in manufacturing activity. However, prospects have been largely restored since the previous year, as restrictions have eased.

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. Considering these factors, the market is projected to witness high growth over the coming years, registering a CAGR of 6.4% to top US$ 19.79 Billion by 2032.

What is driving the Market Demand for Pre-Painted Steel Coils?

Pre-painted steel coils are used in roofing and wall paneling application of metal and post-frame buildings. The use of metal building systems is prevalent in construction projects, especially in warehouses, distribution centers, and industrial facilities. The ongoing industrialization across the world is projected to fuel storage spaces and warehouses as the number of e-commerce and distribution stores has risen in the retail industry, ultimately benefiting the market growth.

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 the end of 2022.

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.

Country-wise Analysis

How Lucrative are Expansion Prospects across North America?

According to Fact.MR, North America is expected to accumulate a revenue share worth 42% in 2022. The region is expected to maintain its lead in the market over the forecast period. Growing demand from the residential and commercial sectors is encouraging well-established construction firms to enhance their reach in the U.S.

For instance, in November 2020, the affiliates of UFP Construction LLC acquired the assets of three companies, namely, Atlantic Prefab, Inc.; Exterior Designs, LLC; and Patriot Building Systems, LLC. These companies offer commercial and multifamily construction services. The acquisition of New Hampshire-based Atlantic Prefab, Inc. helped UFP Construction LLC shorten its construction timelines as Atlantic Prefab Inc. offers prefabricated steel wall panels and light-gauge metal trusses.

Moreover, rising investments in residential construction in the U.S. are contributing to the growth of the market. Builders are prioritizing the construction of high-value homes in the country to enhance their profits and recover from the losses suffered due to the COVID-19 pandemic. A surge in modular construction activities is another focus area for the U.S. market vendors.

What Drives the Demand for Pre-Painted Steel Coil in Asia Pacific Countries?

In 2022, Asia Pacific is likely to account for over 40% revenue, and is expected to maintain its lead over the forecast period. China, Japan, and India are anticipated to be the high-growth countries over the forecast period. The rising penetration of metal over wood in Asian countries is propelling the need for pre-painted steel coils for the construction of warehouses, sheds, barns, and automotive, and aviation buildings in the region.

The emerging concept of pre-engineered steel buildings is further gaining popularity in the Asia Pacific. It is one of the fastest-growing construction-related technologies in the region.

Numerous multi-storied, mid-rise apartments using this concept are being constructed in South Asian countries. The technology is advanced, environmental-friendly, and sustainable, which is further benefitting its penetration, and thus positively influencing the demand for pre-painted steel coils in the Asia Pacific.

Category-wise Insights

Which End-User of Pre-Painted Steel Coil Leads the Market?

The metal buildings application segment is likely to hold the largest volume share of over 70% in 2022. The segment is anticipated to expand at the highest revenue-based CAGR from 2022 to 2030.

Metal buildings offer the benefit of quick replacement of old commercial buildings in a short time. They are energy-efficient, and the overall maintenance cost is low during the lifetime. In addition, durable and colorful panels can give an aesthetic and customized look to the structure.

The penetration of pre-painted steel coils is the highest in metal buildings. These coils are widely used in buildings for automotive, agricultural, aviation, and commercial applications. Increased demand for warehouses owing to the growth of the global e-commerce sector during the COVID-19 shutdowns led to the surged usage of pre-painted steel coils, especially for metal buildings.

Post-frame buildings constructed with a combination of wood and steel are in use due to the benefits of cost savings and quick construction. However, the clear span is lesser than that of metal buildings. Diligent planning is required to utilize the space wisely. Hence, post-frame buildings are used for garages, equipment storage, small-sized storage for automobiles, and mechanic shops.

Competitive Landscape

The competitive landscape of the pre-painted steel coil market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.

• In November 2021, POSCO signed a memorandum of understanding (MOU) with Brazilian raw material supplier, Vale on November 4 and agreed to jointly research the application and use of new raw materials that can reduce carbon emissions. The two companies also agreed to cooperate on iron ore pellets, a major raw material for reducing carbon emissions. Vale, the world’s largest pellet supplier plans to conduct various researches such as improving pellet quality through cooperation between the two companies.

Key Market Segments in Industry Research

• By Application

  • Metal Buildings
    • Automotive Buildings
    • Agriculture Buildings
    • Aviation Buildings
    • Commercial Buildings
    • Residential Buildings
    • Others
  • Post-Frame Buildings
    • Automotive Buildings
    • Agriculture Buildings
    • Aviation Buildings
    • Commercial Buildings
    • Residential Buildings
    • Others

• Regions

  • North America

  • Latin America

  • Europe

  • Asia-Pacific

  • Middle East & Africa