Selbyville, Delaware, Sept. 24, 2019 (GLOBE NEWSWIRE) --

The global PET film coated steel coil market for home appliances is set to cross USD 700 million by 2025, according to a growth forecast report by Global Market Insights, Inc. Rapid growth in use of laminated steel sheets for manufacturing electrical and electronics appliances will propel the PET film coated steel coil market for home appliances.  Factors such as corrosion resistance, high strength and durability and environment-friendly nature will support product adoption rate. In addition, it eliminates the process of paint baking during appliance manufacturing which creates less pollution. Technological advancements including microstructure control technology adds strength, formability and magnetic shielding required for electronic appliances, henceforth supporting the PET film coated steel coil market growth.

Strong demand for home appliances with surge in demand for comfort in household chores along with improved living standards will augment coated steel coil demand. For instance, China consumes more than 48% of total finished steel products and stands first in the global crude steel production and the U.S. imported around 44 million tons of finished goods in the year 2017. However, uncertainty in the trade environment such as U.S.-China trade war and volatile fluctuations in financial markets can impact the overall supply chain dynamics.

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Rising prevalence of small local and large well-known brands for home appliances products will also drive demand for PET film coated steel coil market. Increasing innovations owing to the fast-changing consumer needs and preferences towards smart appliances for smart homes will provide lucrative opportunities for industry participants. Additionally, change in retailing of products through omni-channel owing to the increasing penetration of internet across the globe will promulgate the demand for the product.

Stringent regulations pertaining to the release of harmful gases in the environment may impact the PET film coated steel coil market for home appliances. For instance. the U.S. government has set a national emission standard for hazardous air pollutants for surface coating of metals. Under the clean air act, baseline HAP emission is estimated to be 2,258 Mg/yr. Adoption of new technologies for processing of PET coated steel will create lucrative opportunities for the manufacturers and help the business expansion.

Browse key industry insights spread across 275 pages with 243 market data tables & 14 figures & charts from the report, “Global PET Film Coated Steel Coil Market For Home Appliances Size By Application (Refrigerators & Freezers, Washing Machine, Dishwashers, Ovens, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/pet-film-coated-steel-coil-market

Refrigerators and freezers accounted for 36% share in PET film coated steel coil market for home appliances in 2018. Technological advancements such as pairing the smartphone with refrigerator and availability of cold-water taps on the door will propel the smart kitchen market size. Increasing demand for convenience and ready to eat food products will surge the demand for refrigerators as they are considered to be safe, easy and convenient way to preserve the food. Rising awareness regarding energy conservation owing to fossil fuel depletion and pollution problems will drive the demand for single door refrigerators, therefore promulgating the PET film coated steel coil market for home appliances.

Asia Pacific is expected to register over 7.5% CAGR up to 2025. High demand for the products is expected from the region owing to the increasing number of home appliance manufactures in South Korea, China and Japan. Strong prevalence of online distribution channel and increasing efficient logistics start-ups will fuel the regional demand for small electronic home appliances like dishwashers and ovens. India is one of the biggest markets for electronic home appliances owing to increasing disposable income and easy access to credits. Further, government initiatives such as “Make in India” and “Start-up India” along with 100% FDI for electronic hardware manufacturing will augment the demand for PET film coated steel coil market.

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PET film coated steel coil market for home appliances is fragmented in nature owing to the presence of several small and medium-sized manufacturers in various regions and countries. Key industry participants include Nippon Steel & Sumitomo Metal Corporation (NSSMC), Qingdao Haier R&D Special Type Steel Plate Co. Ltd, YIEH Corp., ArcelorMittal, JSW Steel, Uttam Galva Steels Limited, Jiangyin Everest Import And Export Co., Ltd, American Nickeloid Company Inc, Jiangyin Wofeng Metallic Material Co. Ltd, Boxing County Fuhong New Materials Co., Ltd. Companies adopting strategies such as new product development, R&D and joint ventures. For instance, in November 2018, ArcelorMittal plans to build a new steel plant in India to boost the steel-making capacity.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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