Automotive Wheel Coating Market Prophesied to Perceive Burnished Growth by 2023 :
Pune, India, January 24, 2018/MRFR Press Release/- Market Research Future published a Half Cooked Research Report on “Global Automotive Wheel Coating Market Research Report - Forecast to 2023”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
PPG Industrial Coatings (U.S.), BASF SE (Germany), Akzo Nobel N.V.( Netherlands), DuPont (U.S.), Dupli-Color (U.S.), Eastwood (U.,S.), Performance Paints (U.K.), Mile High Powder Coating Inc (U.S.) , Nordson Industrial Coating Systems (U.S.) and Kansai Paint Co., Ltd (Japan) among others are some of the prominent players at the forefront of competition in the Global Automotive Wheel Coating Market and are profiled in MRFR Analysis.
Automotive Wheel Coating Market – Overview:
Apart from the aesthetic aspects, the automotive wheel needs to be protected against mechanical, physical and chemical attack is the reason why we coat the automotive wheel. There are verity of demands on automotive wheel coatings. To fulfil this demand, several types of binders and additives are available. Furthermore, the application technology used depends on both the binder and the market. Improvement in sustainability, reduction of harmful substances and reduction of volatile organic compounds (VOC) are some of the general trends as per the requirement and regulations in global automotive wheel coating market. The relative importance of the various trends in automotive wheel coating market depends on the governmental regulations in regions and on consumer need.
The growth in the automotive wheel coating industry is primarily be driven by a rising concern regarding the corrosion of wheels in the world and growing automotive industry in the Asia Pacific region. In addition to this, increasing spending capacity of people in turn is expected to benefits the major applications in which automotive wheel coatings and preservatives are used – namely metals like steel, aluminium, titanium among others.
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Industry/ Innovation/ Related News:
May 2016 – Winona PVD Coatings LLC, a provider of bright finish coatings for the automotive wheel industry, announced plans to expand its operations in Warsaw, Indiana, creating up to 50 new jobs by the end of 2016. Winona PVD planned to invest more than USD10 million in high-tech equipment and machinery in order to add a new production line and enhance the company’s clean room at its manufacturing complex in Warsaw. The new line will be housed in the company’s newest 83,000-square-foot building, marking Winona PVD’s third expansion since its establishment in 2007. The company began in one 66,000-square-foot facility and now operates in three buildings with a 320,000-square-foot footprint. Winona PVD currently coats more than 1 million wheels per year using its non-hazardous G-Chrome® finish, and expects to increase production capabilities by 30 percent with this latest expansion.
June 2015 – Accuride planned to expand steel wheel finishing. To help secure the project, the Kentucky Economic Development Finance Authority preliminarily approved Accuride to receive up to USD600,000 in tax incentives. The performance-based incentive will allow Accuride to keep some portion of the investment over an undefined term, through corporate income-tax credits and wage assessments.
June 2016 – TIGER Drylac U.S.A., Inc. introduced to the North American market a limited edition powder coatings kit that includes 24 colors and finishes grouped under the Wheel Line for the Automotive Aftermarket segment. The kit includes three primers, nine blacks, six metallic and clears powder coating finishes. TIGER Drylac automotive primers are fine-tuned for automotive special application conditions to provide the best possible basis for subsequent coatings, according to the company. TIGER Drylac clears are acrylic-based top coats that provide particularly impressive transparent and brilliant finishes fulfilling the specifications for smooth top coat systems in the wheel industry. The blacks and metallic are high quality finishes that meet the demands and requirements of the automotive aftermarket industry. They are also suitable for other industrial applications.
Automotive Wheel Coating Market - Regional Analysis:
Asia Pacific region accounted largest market share in the global automotive wheel market and expected to dominate during the forecast period due to rising population, automotive and growing residential and non-residential activities in the region. China being largest consumer, manufacturer and exporter of automotive wheel coating. Chinese manufacturers are mostly small manufacturers and some of the prominent manufacturers. In addition to this, North America Europe have witnessed healthy growth in automotive wheel coating market owing to a growing non-residential repair, renovation and new construction activities in the region.
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The report analyses the degree of competition among the industry players as well as industry growth and market scenario. The global automotive wheel coating market is at a growing stage, which represents moderate stats in terms of market value and overall volume. Over the past few years, automotive wheel coating market has witnessed healthy demand due to increasing spending capacity of people which has stoked sales of furniture. Nevertheless, the degree of competition among the market players is still less owing to limited major market players across the globe. Globally market for automotive wheel coating is fragmented and it is moving towards growth expansion by specifically adopting partnership, expansion and joint-venture strategies and product launch strategies.
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