Home Appliance Color Coated Sheet Market Size, Share, Growth, And Industry Analysis By Type (PCM and VCM) By Application (Refrigerator, Washing Machine, Air Conditioning, TV, Audio-video Product, Microwave, and Water Heater) and Regional Forecast to 2031

Updated On: 22 April 2024

Home Appliance Color Coated Sheet Market Report Overview

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The home appliance color coated sheet market size was USD 2042.1 million in 2021. As per our research, the market is expected to reach USD 2512.1 million by 2027, exhibiting a CAGR of 3.51% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the Home appliance color coated sheet market growth and demand returning to pre-pandemic levels once the pandemic is over.

The home appliance color coated sheet market is a division of the steel market. These sheets are covered with a layer of paint or other materials to improve their aesthetic appeal and durability. The rising demand for home appliances around the world is what is driving the market for these sheets. This market has expanded due to the rising demand for environmentally friendly and energy-efficient appliances. Numerous competitors are participating in the fiercely competitive home appliance color coated sheet market. A small number of dominant companies control a sizable portion of the market. These players continually develop new items to stay ahead of the competition.

They come in a variety of styles and varieties. These sheets are divided into groups according to their thickness, kind of coating, and intended use. The most popular home appliance color-coated sheet is made of polyester sheets with a polyester resin coating. They are affordable and offer superior protection against the elements and UV rays. PVC sheets have a PVC resin coating and are renowned for having exceptional chemical resistance. They are frequently employed in creating appliances that come into contact with caustic materials and chemicals. Because of their exceptional weather resistance, PVDF sheets are coated in PVDF resin. They are frequently employed in the creation of appliances that are subject to severe weather.

COVID-19 Impact: Economic Downturn Caused By The Pandemic Hampered The Market Growth

The COVID-19 pandemic has significantly impacted this market. The epidemic’s economic hardship has diminished demand for home appliances. The disruption of supply chains has also resulted in a lack of raw materials and increased production prices. Additionally, the epidemic has altered consumer behavior, with more people shopping online. This has caused manufacturers to focus on e-commerce and digital marketing tactics. Appliances with anti-bacterial coatings are in more demand due to the pandemic's emphasis on appliance hygiene and safety.

Latest Trends

"Use Of Eco-Friendly Coatings to Boost Market Expansion"

Adopting eco-friendly coatings is the newest trend in this market. Manufacturers are utilizing coatings with a low carbon footprint and no toxic chemicals in an expanding number of products. Additionally, these coatings are made to be easily recyclable, minimizing waste and harm to the environment. Smart coatings, which may alter color depending on the surrounding temperature or light, are another trend. Refrigerators and air conditioners, among other equipment that need to maintain a certain temperature, are made using these coatings.

Segmentation

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• By Type Analysis

The market can be segmented into PCM and VCM.

 Among these, PCM is projected to experience rapid growth through 2028.

• By Application Analysis

The market can be divided based on application into refrigerator, washing machine, air conditioning, TV, audio-video product, microwave, and water heater.

 The refrigerator is expected to hold large amount market share in the upcoming years.

Driving Factors

"Growing Demand For Home Appliances to Propel Market Expansion"

The market is expanding due to the rising demand for home appliances on a global scale. This market is partly expanding due to the rising middle class in developing nations.

"Technological Advancements to Fuel Market Growth"

The creation of fresh and inventive coatings is driving the expansion of this market. Manufacturers are spending money on R&D to create more aesthetically pleasing, environmentally friendly, and durable coatings.

Restraining Factor

"Fluctuations In Raw Material Prices to Hinder Market Growth"

The cost of the raw materials used to make the Home Appliance Color Coated Sheets can change depending on the state of the market. Profit margins may be impacted, and production costs may rise. Eco-friendly coatings are being developed as environmental rules come under more and more scrutiny. However, adhering to these rules may be costly and time-consuming for manufacturers. Numerous competitors are participating in the fiercely competitive home appliance color coated sheet market. Price wars may result from this, which would reduce corporate margins.

Regional Insights

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"North America To Dominate Market Due To Growing Demand For Home Appliances"

The U.S. holds the Home appliance color coated sheet market share, and factors driving the market growth in this region include growing demand for home appliances. The growth of this market is being driven by the rising demand for household appliances worldwide. Another factor driving the expansion of this industry is the rising middle-class population in developing nations.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Lampre (Italy)
• ZHUHAI SPEEDBIRD PVC LAMINATED METAL SHEET CO. LTD (China)
• POSCO (South Korea)
• Jiangsu Jiangnan (China)
• Yieh Phui (China)
• SAMYANG METAL (South Korea)
• Suzhou Yangtze New Materials (China)
• DK Dongshin (South Korea)
• DCM CORP (South Korea)
• HANWA Steel (South Korea)
• Suzhou Hesheng (China)
• Jiangyin Haimei (China)
• Genzon Investment Group (China)
• BN STEELA (South Korea)
• Anhui Wonderful-wall Color Coating Aluminium Science Technology (China)
• JFE Steel (Japan)
• Dongkuk Steel (South Korea)
• Hebei Zhaojian Metal Product (China)
• Suzhou Xinying (China)
• NSSMC (Japan)
• AJU Steel Co Ltd (South Korea)
• Jiangsu Liba (China)
• Dongbu Steel (South Korea)
• Dingchuan Shengyu (China)
• Qingdao Hegang New Material Technology (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.