Automotive Coatings Market to Witness Surge in Demand Owing to Rising End-use Adoption
Verfasser: yogesh on Thursday, 24 January 2019The global automotive coatings market is being driven by the increasing vehicle population, which in turn is resultant of the rising per capita income. The per capita passenger car ownership has been increasing globally and they are becoming one of the common modes of personal conveyance. Increasing industrialization, on the other hand, is boosting the commercial vehicles market. Vehicle manufacturers are now focusing more on improving the appearance of vehicles to maintain their competitive edge in the market. This, on the whole, has been benefitting the automotive coatings market.
Over 80% of the materials used in passenger cars are metallic. Most of these metals are coated to protect them from rust and degradation. The emergence of ultraviolet curing coating is presenting growth opportunities to the global automotive coatings market. Based on application, the automotive coatings market can be segmented into two broad categories: Original Equipment Manufacturing (OEM) and aftermarket or refinish. The major end-users of the automotive refinish market are collision repair centers and automotive body shops. Based on product segments, the global automotive coatings market can be divided into four categories: electro-coats, primer coats, basecoats, and clear-coats. Based on formulation, this market can be classified into four categories: water-based, solvent-based, powder-based, and UV-based coatings.