According to Future Market Insights (FMI) recently published report, the global transportation coating market will account for revenues of over US$ 12 Billion by 2022-end. The report has projected the future of transportation coatings as being important industrial materials for utilization in the transportation sector for the five-year assessment period (2017-2022).
The report also delivers an analysis of key regional segments, wherein Asia-Pacific excluding Japan (APEJ) has been anticipated to remain the most lucrative market for transportation coatings over the assessment period.
Over the past decades, engineered particularly for withstanding mechanical as well as thermal stress, high-performance coatings have experienced a substantial adoption in the transportation sector. These transportation coatings have then been integrated into vehicle production.
The practice of coating surfaces of metal in long-haul trailers and trucks with high-velocity oxygen fuel (HVOF) has been exercised actively in the production of vehicles as well as their components that are used for the purpose of transportation.
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Sales of Solvent-based Coatings to Exhibit Fastest Expansion through 2022
The report has also analyzed the global market for transportation coatings based on the types of coatings. Global sales of solvent-based transportation coatings are estimated to bring in nearly US$ 3.5 Billion in revenues in 2017. Projected to account for nearly two-fifths of share revenue share of the market, solvent-based transportation coatings will exhibit the fastest expansion throughout the assessment period.
Demand for these coatings has been anticipated to rise, owing to their characteristics of being less prone to changes in humidity and temperature. However, high VOC emissions are associated with manufacturing solvent-based transportation coatings that lead to environmental adversity.
This factor has been expected to be a key restraint in the adoption of solvent-based transportation coatings. In addition, demand for power coatings is expected to remain steady in the global market for transportation coatings. A robust expansion has been projected for sales of pre-treatment coatings through 2022.
Utilization of Transportation Coatings from OEMs to Remain a Healthy Practice for Industries in Transportation Business
OEMs are projected to account for approximately half revenue share of the market in 2017, and will further witness a rise in their market share through 2022. OEMs will remain the largest end-users of transportation coating. Polymer coatings and epoxies are actively being integrated into the production of vehicle chassis, engine parts, and several other key components.
It will remain a healthy practice for industries in the transportation business to utilize transportation coatings through OEMs. The end-use of transportation coatings will continue to register the fastest expansion in the heavy-duty truck industry through 2022.
Metal Coating Application to Account for Largest Revenue Share of Transportation Coating Market in 2017
On the basis of application, the plastic coating application has been estimated by the report to exhibit the highest revenue expansion throughout the assessment period. More than US$ 3.8 Bn worth of transportation coatings is estimated to be sold for application in plastic coatings by 2022-end. In addition, the report projects that metal coating applications to account for the largest revenue share of the market in 2017.
Leading companies of transportation coatings are anticipated to focus on boosting the application of coatings on plastic surfaces. Several players in the market are adopting new techniques of fastening such as elastic bonding. These players are also offering aging-resistant adhesives for enhancing the performance of transportation coatings.
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Players focusing on Procuring High-quality Raw Material Grades for Transportation Coatings
Key companies profiled by FMI’s report on the global transportation coating market include Akzo Nobel NV, Axalta Coating Systems Ltd., BASF SE, E.I Du Pont De Nemours and Company, Evonik Industries AG, Henkel AG & Co. KGaA, Nippon Paint Holdings Co. Ltd., PPG Industries, Inc., The Dow Chemical Company, and The Sherwin-Williams Company. The market players are focusing on the adoption of key strategies for procuring high-quality raw material grades in manufacturing transportation coatings.
Market Taxonomy
Coating Type :
- Water-based
- Solvent-based
- Powder
- Pre-treatment
- Others
End-user :
- Automotive OEMs
- Heavy Duty Truck Industry
- Bus Manufacturers
- Rail Industry
- Other End-user
Application :
- Metal Coating
- Plastic Coating
- Carbon Fiber
- Other Substrates
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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