Mexico Coil Coatings Market

Synopsis
The above chart is Mexico Coil Coatings Market Outlook (2018 to 2032)

Market Dynamics

mexico is emerging as an attractive destination for coil coatings market. over the last decade, the market for coil coatings has been witnessing an expansive growth across mexico due to increasing demand from the automotive, industrial, marine and architectural sector. the advanced technologic solutions and development in metal substrates offer an enhanced protection from weather damage. the development of modernized construction projects is likely to drive the demand for coil coatings. the mexico coil coatings market can be segmented into solvent-based and high-solids coatings. high-solids coating is witnessing a higher adoption rate, as it is considered more environment-friendly and offers improved adhesion to metals. moreover, solvent-based coatings are expected to gain a higher market share owing to their superior protective properties than high-solids coatings. in mexico, the government initiatives such as the fondo para el aporte de vivienda and the national housing program (nhp), are providing impetus to the construction sector of the country, leading to an increase in demand for coil coatings. moreover, mexico is also engaged in developing energy efficient buildings, and the demand for eco-friendly building materials is expected to further boost the demand for coil coatings in the country. on the basis of the application, the mexico coil coatings market can be segmented into hvac, construction, automotive, and household products. among these, the construction sector is expected to experience a substantial boost in demand on account of the aforementioned government-aided housing and infrastructure plans. additionally, the economic growth and increasing disposable income are likely to positively impact the demand for coil coatings from the household products segment. the presence of prominent players such as ppg industries mexico, tiger-coatings and akzonobel has further augmented the demand for coil coatings in the country. moreover, the new product developments and collaborations for increasing the manufacturing capabilities are expected to further act as catalysts for the growth of mexico coil coatings market.