Lucintel Analysis: Emergence of Eco-Friendly Coating Technologies is Likely to Boost Global Automotive Coating Industry
Irving, TX, January 18, 2014 --(PR.com
)-- Revival in automotive production volume and emergence of ultra-violet curing coating are likely to boost the global automotive coating industry. Lucintel expects a major rebound in the market, especially in APAC region which is observing high demand for eco-friendly coatings. Global automotive coating industry is expected to reach $18.6 billion by 2018, promising huge opportunity for the firms operating across its value chain.
Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis on this market and presents its findings in “Growth Opportunities in Global Automotive Coating Industry 2013-2018: Trend, Forecast, and Opportunity Analysis”. The report analyses the global automotive coating industry for all four regions and analyses the associated risk factors and Growth Opportunities. Global automotive coating industry is segmented by region (APAC, Europe, NA, and ROW), by application (OEMs market and refinish market),by product type (electrocoat, primer coat, basecoat, and clear coat), and by technology (water-borne coating, solvent-borne coating, and others).
Revival in passenger car and commercial vehicles production volume in 2011 and 2012 drive the demand for automotive coating for OEMs market. The refinish coating market witnessed rise in number of vehicles in operation along with increase in age of vehicle. Ultraviolet curing coating is likely to emerge as a dominant technology as it emits fewer amount of volatile organic compounds.
APAC, particularly China and India, dominates the global automotive coating industry, led by high vehicles sales and supportive government initiatives for automotive industry. It is expected that in the coming years, BRIC nations will be considered as the hub for all original equipment manufacturers (OEMs), favored by proximity to emerging markets, easy financing, and low-cost production arbitrage. Strict environmental laws in North America and Europe are likely to drive the demand for water-borne coating and ultraviolet light cure coating in the forth coming period.
Lucintel highlights the key challenges faced by the global automotive coating industry such as increasing price fluctuation of raw materials and inability of industry players to meet OEMs’ expectations in terms of environment sustainability and durability of coating. High cost incurred in raw material, labor, and energy and lack of suitable manufacturing process continues to be the limiting factors for the growth of the automotive coating industry.The players need to work towards developing more eco-friendly coatings to meet OEMs’ expectations. Ultraviolet curing coating promises significant growth opportunities as it emits lesser amount of volatile organic compounds with reduced energy consumption.
This report is a complete study of current trends in the market, industry growth drivers and restraints, competitive landscape, emerging trends, and key success factors. It provides market trends for the past years as well as projections for the coming years. It includes analysis of recent developments in technology, Porter’s five forces analysis model, and detailed profiles of top industry players and customers. It gives a review of micro and macro factors essential for the existing market players and new entrants along with detailed customer and value chain analysis. It also reflects coating market on the basis of technology such as water-borne coating, solvent-borne coating, and others. Explore business opportunities and ascertain new market entry with the analysis of emerging geographies and unmet needs of the customers.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com. Lucintel’s Opportunity Screening and Business Strategy Consulting services have supported decision makers in achieving their growth objectives.
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