Catherine Diamond, Associate Editor03.25.15
Automotive and truck production is increasing, which is driving coatings use and growth rates.
According to Phil Phillips, president and managing director of Chemark Consulting Group, experts like LMC Automotive have raised forecasts from 17.2 million units to 17.4 million units. This is a three percent growth from the 2014 production level of 16.9 million units.
“Investment in the region will increase overall capacity by nearly 500,000 units, and, coupled with strong North American vehicle demand, a more positive production outlook is expected,” Phillips said. “Comparing 2012, 2013, 2014 and 2015, we see almost a 13 percent average growth rate over this time period.”
Phillips noted that it is automotive and truck production – not sales – that is the basis for forecasting coatings use and growth rate. “Obviously, sales of these units are important to track but coatings are used when a vehicle unit is produced, and that’s what we must watch.”
The financials affecting automotive/truck demand fall along the following 10 macro
According to Phil Phillips, president and managing director of Chemark Consulting Group, experts like LMC Automotive have raised forecasts from 17.2 million units to 17.4 million units. This is a three percent growth from the 2014 production level of 16.9 million units.
“Investment in the region will increase overall capacity by nearly 500,000 units, and, coupled with strong North American vehicle demand, a more positive production outlook is expected,” Phillips said. “Comparing 2012, 2013, 2014 and 2015, we see almost a 13 percent average growth rate over this time period.”
Phillips noted that it is automotive and truck production – not sales – that is the basis for forecasting coatings use and growth rate. “Obviously, sales of these units are important to track but coatings are used when a vehicle unit is produced, and that’s what we must watch.”
The financials affecting automotive/truck demand fall along the following 10 macro
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