Global Transportation Coating Market Likely to Reach US$ 12 Bn by the End of 2022

The global transportation coating market is likely to reach revenues worth US$ 12 Bn by the end of 2022, according to a new research report added to the repository of Market Research Hub (MRH). The report titled “Transportation Coating Market: APEJ Continues to Offer Growth Opportunities: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2022)” offers detailed insights and analysis on the key factors that are driving the growth of the transportation coating market.

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According to the report, the demand for transportation coating continues to be heavily influenced by the macro trends in the automotive and coatings industry. Demand for coatings from the long haul trailers and trucks industry is likely to provide an impetus to the growth of the transportation coating market during the assessment period.

According to the report, solvent-based transportation coating continues to be one of the widely sold coatings types in the market. Demand for solvent-based coating is likely to remain steady on account of its high resistance to changes in temperature and humidity. According to the report, the demand for solvent-based transportation coatings was worth US$ 3.5 billion in the year 2017. By the end of the forecast period, this segment is likely to account for nearly two-fifth share of the global market. Although the solvent-based transportation segment is likely to account for a significant share of the overall market, concerns about VOC-emissions and their potential impact on the environment continue to be a longstanding challenge.

Metal coating is likely to remain the dominant segment in the global transportation coating market. Demand for metal coating is likely to remain strong in the automotive OEM end use segment throughout the forecast period. Although metal coatings are likely to remain the largest segment, demand for plastic coatings is likely to grow at a significant pace during the assessment period. In addition to these, elastic bonding and inclusion of anti-ageing resistant adhesives is likely to further promote the growth of the transportation coating market during the assessment period.

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The global market for transportation coating market continues to remain highly fragmented and competitive, with emergence of new coating techniques and price wars shaping the market. Some of the leading companies operating in the global transportation coating market include PPG Industries, Inc., The Sherwin-Williams Company, Henkel AG & Co. KGaA, Axalta Coating Systems Ltd., The Dow Chemical Company, Evonik Industries AG, Nippon Paint Holdings Co. Ltd., E.I Dupont De Numours and Company, BASF SE, and Akzo Nobel NV

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This release was published on openPR.