Dublin, Ireland, Aug. 19, 2022 (GLOBE NEWSWIRE) — Fact.MR foresees that the demand for pre-painted steel coil is projected to expand at a CAGR of 6.4% in terms of value during the period of assessment. Moreover, the report estimates that the market for pre-painted steel coil is likely to surpass US$ 64.43 Bn by end of 2032.
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.
Key Takeaways from the Market Study
The metal buildings application segment accounted for over 70% share of the global volume in 2022
Asia Pacific to accumulate 40% revenue share in the pre-painted steel coil market
North America is likely to account for 42% of the global market revenue in 2022 and beyond
Global pre-painted steel coil market to be valued at US$ 10.64 Bn by the end of 2022
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