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Sunday, 22 September 2019
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Markets & companies, Coatings market

Automotive coatings market size set to exceed EUR25 billion by 2022

Monday, 16 May 2016

Automotive coatings market size was calculated at 3.76 million tons in 2014, as per the latest research report by Global Market Insights, Inc.

Automotive coatings market size is set to register EUR25.06 billion by 2022. Source: bagal/pixelio.de

Automotive coatings market size is set to register EUR25.06 billion by 2022. Source: bagal/pixelio.de

Increase in consumer preference to safeguard the vehicle from foreign particles, UV radiation, extreme temperature conditions and acid rain will boost global automotive coatings market size. Key attributing factors, aesthetic appearance and durability, also play significant role in influencing consumer preference.

Refinish coatings market positively influences demand

Automotive coatings market size is set to register EUR25.06 billion by 2022. Automotive refinish coatings market will positively influence demand owing to increase in number of vehicle body and repair shops for damage recovery & timely maintenance. Solvent borne coatings dominated the demand by accounting over 43% of the total volume in 2014. Solvent borne technology is predicted to sluggishly grow owing to stringent measures taken by regulators to curb VoC emissions, particularly in the U.S. and EU.

Increase usage of waterborne and UV-cured coatings

In the U.S., manufacturers of paints & coatings should comply with regulations levied by EPA. This has led to increase usage of waterborne, powder and UV-cured coatings. Key raw materials, titanium oxide, additives, pigments and resins face supply imbalance and price fluctuations, which may affect costing and result in upswing of automotive coating market price. Technology innovation towards reducing manufacturing costs and enhancing product performance may provide new growth opportunities and increase industry profitability.

To access sample pages or view this report in detail along with the table of contents, please click here.

In the next issue of the European Coatings Journal we will also have a focus on automotive coatings with technical papers, market reports and much more. The issue will be published on June 15. To secure your own issue just subscribe!

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