Thursday, 05 November 2020 10:00 AM
Product Announcements
Overspray recoverability and improved resilience to scratching coupled with cost-efficient solutions are set to fuel the demand for wheel coating.
DUBAI, UAE / ACCESSWIRE / November 5, 2020 / The automotive wheel coating market will flourish owing to the bolstering demand for efficient coating technologies. Manufacturers are focussing on development of raw materials for robust applications of waterborne coatings. Cheap labour and cost-effective technologies in Asia-Pacific will extend its applications in the region.
"Rising awareness and strict regulations regarding toxic emissions are forcing players to invest into R&D activities in order to develop highly-sustainable coating solutions," says the FMI Analyst.
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Automotive Wheel Coating Market - Key Highlights
- Clear/top coating segment will dominate the market through 2030.
- On the basis of sales, OEM will register better revenue as compared to other sales channel.
- North America will present lucrative opportunities in the automotive wheel coating market.
- Application in passenger vehicles will remain significant through the forecast period.
Automotive Wheel-Coating Market - Driving Factors
- Manufacturers require wheel coatings for repairing, tuning and overhauling of vehicles.
- Aluminium wheels envision significant demand in light-duty automobiles.
- Wheel coatings helps in restoring original appearance and protects against dust, solvents, heat etc.
- Wheel coating improves exterior look and also enhances fuel efficiency of the car.
- Increasing applications in wheel rims and demand for new coatings are major drivers of the market.
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Automotive Wheel-Coating Market - Key Restraints
- Application of waterborne paint is difficult and time-taking, thereby, restricting its adoption.
- Requirement of heavy investment in equipment and oven clogs the market growth too.
Impact on Market by Coronavirus Outbreak
COVID-19 has diminished production and led to disturbance in the economy. Key producers are going to implement strategies by investing into research and development for improving portfolio. Sluggish growth due to restrictions by the government are still affecting the market in a negative way.
Europe witnessed a sharp decline of 24.1% in passenger vehicle sales while demand for SUV's and Sedans grew exponentially in China due to reduced labour cost and eased restrictions.
Competitive Landscape
Companies are focussing on strategies to expand their geographical presence by widening service portfolio. For instance, they are working on advancements and improved fuel efficiency. Key participa-nts are expanding online platform to maintain the level of competition.
Baerlacher Group, Akzo Nobel N.V., KANSAI PAINT CO., LTD., PPG Industries, Inc., Arsonsisi s.p.a., Axalta Coating Systems, LANKWITZER PREMIUM COATINGS, Emil Frei GmbH & Co. KG, are few of the major market players.
PPG Industries developed HTE powder to improve material consumption and efficiency. It imparts better adhesion and strength to the surfaces.
Axalta Coating Systems introduced low VOC system for steel wheels and water-derived coats for alloy wheels.
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More on the report
This report presents an analysis on the basis of segments including product type (primer, basecoat, clear coat etc.) sales channel (OEM, aftermarket) vehicle (2 wheelers, heavy vehicles, commercial vehicles etc.), coating type (acrylic enamel, epoxy, epoxy polyester, zinc phosphate etc.) and region (North America, Europe, Latin America, Japan etc.)
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SOURCE: Future Market Insights
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