Fast paced developments in the automotive industry demands a new outlook for pigments and coatings market.
By Debarati Das
Its not just the speed and the throttle that determines the X-factor of a car, but also the sheen, the shine and the gloss that ups the oomph of these automobiles. And hence, the right pigment for that perfect coating determines the market success of the whole package.
According to a report by Grand View Research, the global automotive coatings market is expected to reach $36.31 billion by 2025 owing to the increasing vehicle production. The right coating not just enhances the appearance and durability of automobiles but also provides protection from harsh environmental conditions including acid rain, extreme temperature, UV radiations and dust particles.
Reports suggest that while Europe is expected to witness steady growth, the major demand for this market is expected to arise from the emerging countries including China, India, Brazil, Mexico, South Korea, and South Africa which is becoming the next big automotive market due to population growth and rising income levels in this region. Many companies are taking this opportunity to expand and strengthen their hold in these regions.
Axalta Coating Systems expanded their activities in China and India lately by installing additional capacity in India to supply OEMs and expanding their waterborne facility in China to meet customers’ requirements for reduced VOC emissions.
“These facilities and the significant investments made in the past couple of years are in sync with Axalta’s strong commitment to this region to deliver innovative and comprehensive coating solutions to our customers in every sector of the automotive market and in other industry sectors,” said Charlie Shaver, chairman and CEO, Axalta.
Read more: New sheen for next-gen automotive
Fast paced developments in the automotive industry demands a new outlook for pigments and coatings market.
By Debarati Das
Its not just the speed and the throttle that determines the X-factor of a car, but also the sheen, the shine and the gloss that ups the oomph of these automobiles. And hence, the right pigment for that perfect coating determines the market success of the whole package.
According to a report by Grand View Research, the global automotive coatings market is expected to reach $36.31 billion by 2025 owing to the increasing vehicle production. The right coating not just enhances the appearance and durability of automobiles but also provides protection from harsh environmental conditions including acid rain, extreme temperature, UV radiations and dust particles.
Reports suggest that while Europe is expected to witness steady growth, the major demand for this market is expected to arise from the emerging countries including China, India, Brazil, Mexico, South Korea, and South Africa which is becoming the next big automotive market due to population growth and rising income levels in this region. Many companies are taking this opportunity to expand and strengthen their hold in these regions.
Axalta Coating Systems expanded their activities in China and India lately by installing additional capacity in India to supply OEMs and expanding their waterborne facility in China to meet customers’ requirements for reduced VOC emissions.
“These facilities and the significant investments made in the past couple of years are in sync with Axalta’s strong commitment to this region to deliver innovative and comprehensive coating solutions to our customers in every sector of the automotive market and in other industry sectors,” said Charlie Shaver, chairman and CEO, Axalta.
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