Global Transportation Coating Market to Represent a Value of US$ 12 Bn By the End of 2022

According to Future Market Insights’ (FMI) recently published report, the global market for transportation coating will account for revenues over US$ 12 Bn by 2022-end. The report has projected future of transportation coatings in being important industrial materials for utilisation in the transportation sector for the five year assessment period (2017-2022). The report also delivers analysis on 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.

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Sales of Solvent-based Coatings to Exhibit Fastest Expansion through 2022

The report has also analysed 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 Bn revenues in 2017. Projected to account for nearly two-fifth 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 leads to an environment adversity. This factor has been expected to be a key restraint in 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.

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Players focusing on Procuring High-quality Raw Material Grades for Transportation Coatings

Key companies profiled by FMI’s report on 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 adoption of key strategies for procuring high-quality raw material grades in manufacturing transportation coatings.

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This release was published on openPR.