ID: MRFR/CnM/2266-HCR | February 2021 | Region: Global | 110 pages
Automotive Wheel Coating Market Overview
Automotive Wheel Coating Market Size to grow at CAGR of 3.20%, during 2020 to 2030, Automotive Wheel Coating Market Analysis, Share, Trends, and Industry Forecast by type, Application, and End User
Automotive wheel coating is a type of specialty coating manufactured by a composition of pigments, resins and chemicals. Coating helps restore original wheel appearance and also protects against brake dust, chemicals, cleaning solvents, heat, and chipping. Moreover, it plays an important role in improving exterior look as well as fuel efficiency of the car. Increasing applications of automotive wheel coating in various wheel rims and increasing demand for the new type of coating are the main drivers of the market growth. The demand for coatings, such as coating product type and coating form type, which offer better protection of different wheel substrates is increasing significantly.
However, Volatility in raw material prices acts as a major restraint of the growth of the market. Automotive wheel coating market is projected to grow at a CAGR of 2.9% during the forecast period.
Study Objectives of Automotive Wheel coating markets Market:
Global Automotive Wheel coating market: Segmentation:
Asia-Pacific market is dominating the market of automotive wheel coating market due to growth in automotive sector. Large demand and production of automobiles, development of automotive manufacturing industries in developing economies such as China and India are driving the market for automotive wheel coatings market. The market in developing countries is largely driven by economic growth and ongoing industrialization, which helps in production of motor vehicles and other manufacturing output.
North America is referred to as the second-largest automotive wheel coatings market due to factors such as large customer base and high disposable income of end-users as they fuel the demand for vehicles in the country.
The major player operating in the market of global automotive wheel coating are PPG Industrial Coatings (U.S.), BASF SE (Germany), Akzo Nobel N.V.( Netherlands), DuPont (U.S.), Dupli-Color (U.S.), Eastwood (U.,S.), Performance Paints (U.K.), Mile High Powder Coating Inc (U.S.) , Nordson Industrial Coating Systems (U.S.) and Kansai Paint Co., Ltd (Japan).
|Market Size||2030 : Significant value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||PPG Industrial Coatings (U.S.), BASF SE (Germany), Akzo Nobel N.V.( Netherlands), DuPont (U.S.), Dupli-Color (U.S.), Eastwood (U.,S.), Performance Paints (U.K.), Mile High Powder Coating Inc (U.S.) , Nordson Industrial Coating Systems (U.S.) and Kansai Paint Co., Ltd (Japan).|
|Key Market Opportunities||Increasing applications of automotive wheel coating in various wheel rims and increasing demand for the new type of coating are the main drivers of the market growth.|
|Key Market Drivers||The growing automotive industry is the major driver for the automotive wheel coating market.|
Frequently Asked Questions (FAQ) :
The market is expected to exhibit a strong 3.20% CAGR over the forecast period from 2020 to 2030
The growing automotive industry is the major driver for the automotive wheel coating market.
Volatility in the prices of raw materials is the major restraint on the global automotive wheel coating market.
Asia Pacific is the leading regional market.
Leading players in the market include DuPont, PPG, and BASF, among others.