1. Global market size and growth drivers
According to the latest data from QYResearch, the global market size of galvanized color coated sheets will reach US$3.121 billion in 2024, and is expected to increase to US$4.602 billion in 2031, with a compound annual growth rate (CAGR) of 5.7% from 2025 to 2031. As the world's largest incremental market, China's market size will be US$687 million in 2024, accounting for 22%. Driven by the "14th Five-Year Plan" new urbanization plan, the average annual growth rate will reach 8.2%. The North American market will benefit from green building standards (LEED certification), with a market size of US$780 million in 2024, accounting for 25%; while the European market will be affected by the EU Carbon Border Tax (CBAM), and the growth rate will slow down to 4.5% in 2024.
The construction industry is still the largest application field, with a market share of 70% in 2024 (40% for roofs and 30% for walls), and emerging markets such as Southeast Asia and the Middle East will become the main growth poles. The demand in the automotive industry has emerged suddenly. In 2026, the global demand for color-coated plates for new energy vehicles will reach 150,000 tons, mainly used for battery pack shells and charging pile shells. In 2030, the demand for color-coated plates for vehicles is expected to exceed 200,000 tons.
2. Technological innovation and environmental protection trends
① Breakthrough in environmentally friendly coating technology
The penetration rate of water-based coatings is expected to increase from less than 10% in 2021 to 45% in 2030, supporting low-temperature curing technology (reducing energy consumption by 30%). Leading companies such as Angang Steel Co., Ltd. and Baosteel have mastered this technology. Bio-based coatings are expected to enter the mass production stage in 2030, with raw material traceability reaching more than 90%, in line with the EU REACH and China Green Building Materials Three-Star Certification requirements.
② Intelligent function integration
In 2028, the proportion of built-in sensors in color-coated plates will reach 8%, which can monitor parameters such as temperature and humidity in real time and support building energy efficiency management. The aluminum-zinc color-coated sheet with a transmittance of ≥70% developed by Baoshan Iron and Steel has been applied to photovoltaic building integration (BIPV) projects. ArcelorMittal has launched a self-repairing coating technology with an automatic scratch repair time of ≤24 hours.
③ Process upgrade direction
The hot-dip galvanizing process is iterating towards high corrosion resistance and chromium-free, and the electro-galvanizing process is upgrading to high precision and thinness (0.3-0.5mm). Ansteel Co., Ltd. adopts a hydrogen-based reduction process, and the carbon emissions per ton of steel are reduced to less than 1.2 tons, meeting the EU CBAM certification requirements.
3. In-depth analysis of regional markets
① Southeast Asian market
The "ASEAN Green Building Plan" will be launched in 2027, and the demand for color-coated sheets will exceed 300,000 tons, with a CAGR of 9%. The Vietnamese and Indonesian markets focus on low-cost steel plates for forming, adapting to local payment systems such as GrabPay and Dana. Shougang Group has established a regional production base.
② Middle East market
Saudi Arabia's "Vision 2030" promotes the construction of photovoltaic power stations. The regional demand for color-coated plates has increased by 12% annually, and the weather resistance requirements of the "Saudi Building Code" must be met (salt spray test ≥ 2000 hours). Dongkuk Steel achieves localized production through a Saudi joint venture factory to avoid tariff barriers.
③ Chinese market
The "Green Building Materials Evaluation Standard" will be implemented in 2025, requiring color-coated plates to have VOC emissions ≤ 50g/L, which will promote the penetration rate of water-based coatings. Infrastructure investment in the central and western regions has accelerated, and the demand for galvanized plates for photovoltaic brackets has increased by 25% year-on-year, becoming the focus of brand competition.
4. Competitive landscape and supplier strategy
① Global manufacturer ranking
Ansteel Co., Ltd. (12% market share), Baoshan Iron and Steel (10%), and ArcelorMittal (9%) constitute the first echelon, mastering the core technologies of environmentally friendly coatings and intelligent manufacturing. Second-tier companies such as Shougang Group and Guangzhou Green Plate Industry serve the local market through regionalized production.
②Technical breakthrough direction
Investment in R&D of water-based coatings: Achieve a domestic substitution rate of over 50% in 2026, and reduce dependence on core suppliers (BASF, PPG).
Brand upgrade: Acquire the color coating business of Germany's ThyssenKrupp, and enter the top 3 in the global high-end market in 2027.
Certification system: Establish the EU CBAM and US EPA certification systems, and complete the certification of major global markets in 2025.
③Regional synergy strategy
Relying on the "Belt and Road" to deepen capacity cooperation with ASEAN, and achieve overseas revenue accounting for more than 40% in 2026. Establish a joint venture factory in Saudi Arabia to serve local photovoltaic projects and avoid trade barriers.
5. Growth poles in the next five years
Water-based paint color-coated boards: account for 45% in 2027, and VOC emissions will be reduced by 60%.
Photovoltaic building integration: In 2026, the global demand for LEED-certified building color-coated boards will reach 500,000 tons, with a CAGR of 10%.
New energy vehicles: In 2030, the demand for vehicle-mounted color-coated boards will exceed 200,000 tons, and the application of battery pack shells will account for more than 60%.