Kerry Pianoforte, Editor03.08.19
According to a recent report published by Allied Market Research, the automotive OEM coatings market is expected to reach $9,379 million by 2022, growing at a CAGR of 5.6 percent from 2016 to 2022. The report stated that Asia-Pacific is projected to maintain its top position from 2016 to 2022 and will grow at a CAGR of 4.7 percent, in terms of volume. In terms of value, India is expected to grow at the highest CAGR of 6.7 percent from 2016 to 2022.
AkzoNobel reported that, in 2018, it saw different growth rates around the globe. “While regions such as Asia and Europe have experienced a slow progression – predominantly due to lower vehicle demand/production in these regions – other regions, such as North America, have seen a faster growth,” Peter Tomlinson, director of AkzoNobel’s Automotive and Specialty Coatings business. “Not surprisingly, these developments are tied to the actual vehicle output as reported in every region, as ultimately, every car that is manufactured requires the use of coatings in the process (related to both metal body and hang-on plastic
AkzoNobel reported that, in 2018, it saw different growth rates around the globe. “While regions such as Asia and Europe have experienced a slow progression – predominantly due to lower vehicle demand/production in these regions – other regions, such as North America, have seen a faster growth,” Peter Tomlinson, director of AkzoNobel’s Automotive and Specialty Coatings business. “Not surprisingly, these developments are tied to the actual vehicle output as reported in every region, as ultimately, every car that is manufactured requires the use of coatings in the process (related to both metal body and hang-on plastic
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