Lucintel Anticipates Global Automotive Coating Market to Reach $18.2 Billion by 2019
Irving, TX, July 17, 2014 --(PR.com
)-- The global automotive coating market is expected to reach an estimated $18.2 billion by 2019. Innovative solutions such as ultraviolet curing coating, ultra-hydrophobic nano coating, and water-borne coating system is driving demand for coating used in large vehicle surface, thus widening the scope for automotive coating. Players such as BASF SE and Bayer Material Science have developed ultraviolet curing coating as per the new emission standards.
Lucintel, a leading global management consulting and market research firm, has analyzed the global automotive coating industry by segments and region, and has come up with comprehensive research report “Global Automotive Coating Industry 2014-2019: Trend, Forecast, and Opportunity Analysis.” This report provides an analysis of the global automotive coating industry including analysis of the market trend, competitive landscape, company profiles, mergers and acquisitions, emerging trend, and key drivers of industry growth. The study also includes global forecasts for automotive coating through 2019, segmented by application such as OEMs market and refinish market, by product type such as electro-coat, primer coat, base coat and clear coat, and by technology such as water-borne coating, solvent-borne coating and others.
On the basis of its comprehensive research, Lucintel forecasts that majority of the segments for automotive coating market will grow moderately in 2014-2019. Strict environmental laws in North America and Europe will drive the demand for water-borne coating and ultraviolet light cure coating in the forecast period. BRIC nations will be considered as the hub of automotive production, favored by proximity to market, easy financing, and low-cost production arbitrageand these will drive the demand of automotive coatings in BRIC nations. Continuous focus on research and development activities by the industry players will foster new innovations in automotive coating industry which will ultimately drive the industry towards growth.
The biggest challenge of the industry is the increasing cost of crude oil which raises prices of key raw materials such as titanium oxide and resin, which impact companies’ profit margin. Concerns over the environmental impact of volatile organic compounds, and pricing pressures from auto manufacturers are a few of the other challenges for automotive coating manufacturers. Regular innovation of products is very important for companies to sustain their successful position in the market.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at email@example.comLucintel’s Management Consulting Services include Due Diligence Process,Target Screening,market insight, and cost efficiency. To learn more, visit www.lucintel.comYou can also contact us through Live Chat in its website to answer your questions in real time.