Tim Wright, Editor03.19.12
The state of the automotive OEM coatings market is improving. The global market for automotive paint was $10 billion in 2011, according to the Southern Pines, N.C.-based consultancy Chemark Consulting. The market grew from $9.3 billion the previous year. North America was the largest regional market worth $2.62 billion in 2011 while all regions experienced positive growth compared to 2010.
“OEM car manufacturers are building more vehicles, and as production increases this ultimately helps OEM paint producers,” said Stacey Russell, marketing communication manager, BASF. “When the industry looks at the seasonally adjusted annual rates (SAARs) and sees that it is improving it helps to build confidence. While Europe’s economy is struggling, with less increase in automotive production, Asia is in a growth mode, particularly in China.”
Part of the Functional Solutions business segment, BASF’s coatings division is one of the world’s top suppliers of coatings for automotive and industrial applications. The division, which also includes the sale of its Relius brand of decorative paints, reported sales of €2.8
“OEM car manufacturers are building more vehicles, and as production increases this ultimately helps OEM paint producers,” said Stacey Russell, marketing communication manager, BASF. “When the industry looks at the seasonally adjusted annual rates (SAARs) and sees that it is improving it helps to build confidence. While Europe’s economy is struggling, with less increase in automotive production, Asia is in a growth mode, particularly in China.”
Part of the Functional Solutions business segment, BASF’s coatings division is one of the world’s top suppliers of coatings for automotive and industrial applications. The division, which also includes the sale of its Relius brand of decorative paints, reported sales of €2.8
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