Catherine Diamond, Associate Editor03.18.16
A multitude of factors – including increased overall vehicle demand, aging vehicles, environmental concerns, and increased infrastructure – are all driving forces behind the increasing demand for automotive OEM coatings.
According to a June 2015 report by Grand View Research, which forecasts the automotive coatings market by segment through 2022, the global automotive coatings market is expected to undergo significant growth due to “increasing consumer preference as it enhances durability and appearance of vehicles and protects it from UV radiation, extreme temperature, acid rain and foreign particles.”
The report goes on to state that increasing vehicle production in countries including China, Mexico, Indonesia, Japan, U.S., South Korea, Germany and India along with aging of vehicles is a major driver for market growth. Accelerated demand for eco-friendly coatings including waterborne coatings, powder coatings and UV-cured coatings in emerging economies including China and Brazil is expected to propel automotive coating industry growth. In addition, the authors note, rapid economic growth, increasing government spending, ad
According to a June 2015 report by Grand View Research, which forecasts the automotive coatings market by segment through 2022, the global automotive coatings market is expected to undergo significant growth due to “increasing consumer preference as it enhances durability and appearance of vehicles and protects it from UV radiation, extreme temperature, acid rain and foreign particles.”
The report goes on to state that increasing vehicle production in countries including China, Mexico, Indonesia, Japan, U.S., South Korea, Germany and India along with aging of vehicles is a major driver for market growth. Accelerated demand for eco-friendly coatings including waterborne coatings, powder coatings and UV-cured coatings in emerging economies including China and Brazil is expected to propel automotive coating industry growth. In addition, the authors note, rapid economic growth, increasing government spending, ad
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