Anthony Locicero, Associate Editor03.08.21
The automotive coatings market is expected to be worth more than $35.82 billion by 2026, according to Polaris Market Research.
After being valued at $25.53 billion in 2018, the market is expected to register a CAGR of 6.4 percent between 2019 and 2026, the Polaris Market Research report noted.
Of course, the market was affected by the novel coronavirus pandemic in 2020.
“Across the globe, 2020 was a very challenging year for everyone,” said Kevin O’Connor, director of Global Marketing and Product Management for Axalta’s Transportation
Coatings business.
“The automotive coatings market was significantly impacted by the fact that a lot of OEM manufacturing was on hold during many country lockdowns and due to prevention measures, such as quarantines, stay-at-home policies, and the reduction of trans-border transportation,” said Patrick Bourguignon, AkzoNobel director for Automotive and Specialty Coatings.
Production was down about 20
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