London, 18 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global automotive OEM coatings market 2015-2019, which is expected to grow at a CAGR of 4.81% by revenue during the forecast period of 2014-2019.
The market is expected to witness healthy growth during the forecast period as a result of increasing automotive original equipment manufacturer (OEM) coating prices. The increase in disposable income and the development of advanced, eco-friendly coating technologies also propel growth in this market. Also, the introduction of new products by sellers that have a unique mix of functionalities and properties is expected to be a key market driver.
“The market is witnessing the adoption of integrated processes that enable a reduction in the number of coating layers. Vendors are working toward eliminating the primer layer by introducing integrated coating solutions,” says Faisal Ghaus, Vice President of Technavio.
“This integrated process is expected to offer greater customer value through reductions in capital investments and savings in energy and material costs.”
Key Market Drivers:
- Demand for Metallic Coatings.
- Growing Use for Production of Fuel-Efficient Automobiles.
- Innovation for Cost Reduction.
- Provision of Support Services.
Key Market Trends:
- Growing Focus on UV-Cure Coatings.
- Growing Demand from APAC.
- Adoption of Integrated Processes.
- Introduction of Novel Products.
Key Market Vendors:
- Axalta Coating Systems LLC
- BASF SE
- Kansai Paint Co. Ltd.
- Nippon Paint Holding
- PPG Industries Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
