Over the past decades, engineered particularly for withstanding
mechanical as well as thermal stress, high performance coatings have
experienced a substantial adoption in transportation sector. These
transportation coating have then been integrated into the vehicle
production. The practice of coating surfaces of metal in long haul
trailers and trucks with the 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.
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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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.
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 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 transportation business to utilise
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.
On the basis of application, the plastic coating application has been
estimated by the report to exhibit highest revenue expansion
throughout the assessment period. More than US$ 3.8 Bn worth of
transportation coatings are estimated to be sold for application in
plastic coatings by 2022-end. In addition, the report projects the
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 performance of
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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