Automotive Refinish

Waterborne coatings market to depict substantial growth over 2017-2024, driven by deployment of strict regulatory norms to curb VOC content

Posted on Updated on

Waterborne Coatings Market has been gaining mass popularity in recent times, pertaining to the increasing product deployment in several painting applications, driven by their easy usage and quick curing process. Having recognized the potential advantages of these coatings, the renowned biggies in waterborne coatings industry are investing heavily to bring about substantial enhancements in their product portfolio. For instance, the joint venture between Huayi Chemical Ltd and BASF has made an investment of USD 164 million to establish a new automotive coatings facility in China, focusing on the growing automotive sector across Asia Pacific region. In fact, BASF reported that Asia Pacific region is individually responsible for more than 52% global production of automobiles, owing to which BASF and Huayi Chemicals are jointly planning to manufacture primers, thinners, waterborne and solvent-borne coatings, which will favorably augment the regional waterborne coatings industry share over the years ahead.

U.S. Waterborne Coatings Market Size, By Product, 2016 & 2024 (USD Million)
U.S. Waterborne Coatings Market Size, By Product, 2016 & 2024 (USD Million)

The growing environmental concerns about the hazardous impact of volatile organic compounds on the environment can also be credited for the ongoing waterborne coatings market trends, given that these coatings help reduce VOC content. In this regard, leading chemical manufacturers are developing innovative technologies to comply with regulatory norms for curbing VOC content in the environment. For instance, Dow has recently developed a new Acrylic-Binder Technology, AVANSE™, which emits lesser VOC and can be used for various industrial applications such as protective coatings, masonry, and metal finishing. This initiative, it is believed, will encourage the key participants in waterborne coatings industry to innovate new effective and effective technologies, thereby propelling the business expansion.

Get a Sample Copy of this Report:https://www.gminsights.com/request-sample/detail/1708

Recently, the Environmental Protection Agency (EPA) has mandated the use of waterborne coatings for several industrial sectors instead of solvent-based coatings, as it does not contain any hazardous compound. Pertaining to the low levels of flammability and toxicity, many environmentally responsive waterborne coatings industry players have been bringing about substantial changes in their product portfolios. For instance, in October 2017, one of the leading providers of innovative and sustainable coatings solutions, Axalta has considerably expanded its range in waterborne acrylic products. With the formulation of new coatings, the key players in waterborne coatings market are looking forward to fulfilling the surging requirement of numerous end-use domains. Undeniably, the increasing usage of acrylic coatings for several metal finishing and construction purposes, owing to its toughness, crack resisting, color retention, and long-lasting capability, is slated to influence on waterborne coatings market outlook positively.

Given the ongoing trends of environmental safety, many researchers are working continuously to use organic and eco-friendly raw materials from natural resources to manufacture waterborne coatings. For instance, recently, waterborne coatings market witnessed the launch of a green, scalable, and renewable dihydroxy acid from sunflower oil that can be used in the production of waterborne polyurethanes, which would extensively be used for coatings. The growing investment in R&D activities to evaluate organic and eco-friendly raw materials is thus slated to generate lucrative opportunities for giants in waterborne coatings industry over the years ahead. Global Market Insights, Inc., estimates that waterborne coatings market will amass revenue of more than USD 95 billion by the end of 2024.

Author Name : Sunil Hebbalkar

Global automotive coatings market size driven by strong vehicle production indicators

Posted on Updated on

Global Market Insights, Inc. has released a new study based report on the Global Automotive Coatings Market size, projected to hit USD 28.3 billion by 2022. The report is a comprehensive analysis of market size and growth prospects. It offers strategic analysis of the factors influencing the market, including drivers, impediments, challenges and opportunities and emerging industry trends.

View a summary of the “Automotive Coatings Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/automotive-coatings-market-report

Growing consumer preference to enhance the aesthetic appeal and durability is expected to drive the demand. Moreover, growing demand to protect the vehicle from acid rain, UV radiation, foreign particles and extreme temperature conditions is likely to further the market size. Vehicle manufacturers are now focusing on producing aesthetically appealing vehicles. This further boosts the industry growth.

Solventborne automotive coatings market size predicted to experience sluggish growth due to strict norms over VOC emission in the atmosphere. The waterborne segment is tipped to exhibit high gains at above 5% in the next few years. The growth is attributed to factors like low flammability, air emission reduction, and less toxicity.

The majority of the materials used in passenger cars is metallic. The coating is essential to protect them from degradation and rust. The report segments the automotive coatings market trends by application, product, technology, end-use, and region.

Automotive Coatings Market Size

Light vehicle automotive OEM coatings market size is anticipated to experience significant growth shortly. The increase is attributed to the increasing demand for a vehicle with cutting-edge features including pre-collision technology, automatic light, and GPS tracking. Automotive refinish market segment is poised to witness high growth rates at over 4.5% during the predicted time frame.

Metal applications dominated the sector and are likely to continue the trend. Plastic based automotive coatings segment is expected to register noteworthy growth rate. Increasing demand for lightweight vehicle production to lower emissions and improve fuel efficiency is anticipated to impact the demand positively.

APAC, majorly driven by China is set to register growth by 2022. Latin America, led by Brazil market segment, is projected to foresee substantial growth in the next few years. MEA market segment is anticipated to experience average gains over the predicted time frame.

Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/107

The report features the competitive landscape of the automotive coatings market. Key trends, company profiles, business strategies, finance metrics are listed in the report with market evaluation and forecasts. Major participants in the consolidated market include PPG Industries, BASF, Nippon Paint, Axalta Coating Systems, AkzoNobel, and Kansai Paints.

Sherwin-Williams, Berger Paints, KCC Paint, Arkema SA, Valspar Corporation, Beckers Group, Cabot Corporation, Clariant AG, Eastman Chemical Company, Lord Corporation, Solvay SA and DSM are other prominent names in the industry. BASF is expanding automotive coating production in Thailand.

Author NameDhananjay Punekar