Automotive Coatings Market has been envisaged to record a moderate CAGR of over 4.0% through 2027 from Margo Trobbie's blog
Top 5 companies in the automotive coatings market will
continue to hold nearly two-fifth market share, with an average revenue range
of US$ 5Bn to US$ 8 Bn. This further implies a high consolidation of the
automotive coatings market at the brim.
The automotive coatings market continues to witness
significant transformation ranging from new material developments in the
vehicle production to higher popularity of traditional colors compared to “more
colorful” alternatives.
The automotive coatings market is expected to witness an
increase in volume sales of over 3,500 tons in 2018 over 2017, according to a
recent Fact.MR study. Refinish formulations continue to gain center stage in
the automotive
coatings market, while water-borne coatings are gaining increased focus
for basecoats.
Water borne automotive coatings have gained utter prominence
over the years of evolution, primarily driven by environmental and health
concerns of the solvent-borne automotive coatings.
The study estimates nearly 6 in 10 tons of automotive
coating sold worldwide in 2018 to be water-borne. However, demand for
waterborne coatings as primer surface layer is likely to witness decline in
tandem with increasing palpability of UV cure automotive coatings.
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UV cure variants, albeit accounting for minor share of the
market currently, have emerged as fast-selling automotive coatings and the
status quo is likely to prevail in 2018 and beyond.
Demand for solvent borne coatings is expected to remain
higher than solvent-borne coatings in 2018, despite concerns regarding their
environmental and health impacts. Preference for solvent borne automotive
coatings is primarily undergird by their relative superiority in retention of
pigments liquid and binding agents.
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