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Global Analysis of the Automotive Refinish Coatings Market

Global automotive refinish coatings market: Sales in BRIC countries drives industry


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2014-01-27 19:15:02 - Global Analysis of the Automotive Refinish Coatings Market - a new market research report on companiesandmarkets.com

The automotive refinish coatings market is primarily influenced by car sales, vehicles in operation (*VIO), accident rates, age of the car, and miles driven.Rapid increase in car sales and VIO in Brazil, Russia, India, China (BRIC), and Eastern European countries have steered growth opportunities towards the Asia-Pacific (APAC) and rest of the world (ROW) regions. However, recessionary effects, along with reduced accident rates due to enhanced road safety and speed management systems in vehicles have contributed to the restrained growth in the automotive refinish coatings market in Europe and North America.Conversion to water-borne coating systems from solvent-borne counterparts remain a major trend in Europe and North America due to regulatory requirements to reduce volatile organic compounds (VOC) levels in solvent-borne

 

 

coatings. High-solids solvent-borne coatings are gaining momentum in the North American market, while water-borne coatings are more popular in Europe to achieve VOC reduction.APAC and ROW markets are witnessing rapid technological advancements with the rising standards of living, increasing disposable income levels, and growing customer requirements for refinish jobs that meet original equipment manufacturers´ (OEM) standards.Quick drying, cost-efficient, and high performing coatings are the primary needs in the market. Companies should further ensure that they have a broad product portfolio to cater to the varying needs of OEM aftermarket and independent body shops.

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