Advent of new technologies, rising prevalence of autonomous vehicles, and adoption of consumer-centered business models are triggering tectonic shifts in automotive industry. The effect of these trends is also evident in smaller areas of the industry such as automotive wheel coating market.
Increasingly stringent environmental regulations associated with emission of volatile organic compounds (VOC) in tandem with rising demand for performance-based vehicles has influenced market players to dedicate serious R&D efforts in devising cutting-edge automotive wheel coatings.
While automotive wheel coatings market is continuously evolving, manufacturers are maintaining their entire technical portfolio in order to fulfil requirements of customers. This has improved their competitive position in the global market owing to their R&D leadership in this domain.
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Such future-proof solutions enable automotive OEMs to leverage novel, highly sustainable coating technologies – such as waterborne – in tandem with process breakthroughs that enhance plant efficacy and reduce overall expenses. The tendency is sweeping across developing regions, in particular, which are scrambling to achieve reduced VOC emissions.
Automotive Wheel Coating Market Size Study
Clear/top coating segment to generate substantial revenue through 2030
Aluminum to remain prominent substrate for automotive wheel coatings
Application in passenger cars to remain significant over following decade
About 7 out 10 automotive wheel coatings to be sold through OEMs
North America to account for majority of automotive wheel coating sales worldwide
“Powdered automotive wheel coatings are substantially effective with nearly 100% powder overspray recoverability, greater resilience to scratching, chipping, and fading, compared to other finishes. The process is cost-efficient, releases negligible VOC into surroundings, and involves minimal material wastage,” says analyst at FMI.
COVID-19 Impact on Automotive Wheel Coating Market
The COVID-19 pandemic has exposed supply chains in automotive industry to significant disruption, bringing global supply strategies to scrutiny. Abrupt shutdowns of manufacturing units in China and its ripple impact, resulting in widespread havoc among global automotive manufacturers, were felt subsequently in the US, Europe, India, and South America.
Such slowdown pressures in automotive industry due to COVID-induced business restrictions has been severely impacting automotive wheel coatings market business. Having outsourced their manufacturing operations to low-cost regions, several automotive wheel coating suppliers and OEMs are striving to create shorter or localized regional supply chains.
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Market Taxonomy
By Product Type
Primers
Basecoat
Clear coat/Topcoat
By Coating Type
Powder
Liquid
Solvent Borne
Water Borne
By Substrate Type
Aluminium
Steel
Plastic
By Vehicle Type
2-Wheeler
Passenger Cars
Compact
Luxury
Mid-sized
Premium
Commercial Vehicles/Light Commercial Vehicles
Heavy Commercial Vehicles
By Sales Type
OEM
Aftermarket
By Coating Chemical Type
Acrylic Enamel
Acrylic Urethane
Acrylic Lacqure
Zinc Phosphate
Epoxy
Epoxy Polyester
Polyester
Polyurethane
By Region
Asia Pacific Excluding Japan (APEJ)
North America
Latin America
Eastern Europe
Western Europe
Japan
Middle East & Africa
Automotive Wheel Coating Market – Competitive Intelligence
Ceramic-based coatings reign supreme in the global sphere of paint correction. Despite being the most diverse protection formula worldwide, potential of ceramic-based coatings are yet to be explored completely. Various players developing ceramic coatings for automotive industry are entering into business landscape, for instance,
FEYNLAB has developed ceramic wheel coating with true nanotechnology and bonding chemistry that contains about 70% solids content, making it extremely durable to road contamination and brake dust.
Ceramic Pro has formulated protective coating – Wheel Protection – that is based on nano-ceramic formula. The product helps protect automotive wheels from brake dust that would otherwise bake onto surfaces and result in damages.
DP Detailing has rolled out ceramic-based wheel coating that is specifically developed for clear-coated wheels. In addition, the formulation is suitable for application in high temperatures.
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Automotive Wheel Coating Market Outlook and Key Findings
Acrylic enamel to remain preferable coating chemical of choice through 2030
Preference for steel as coating substrate for automotive wheel coatings to surge in coming years
Under passenger cars, mid-sized and compact sub-segments to register fastest CAGR over following decade
Waterborne technologies to emerge as disruptive force in global market
Market in Asia Pacific excluding Japan (APEJ) to make quantum leaps over decade ahead
To Know More About Automotive Wheel Coating Market:
A new market research report published by Future Market Insights (FMI) on the global automotive wheel coating market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the automotive wheel coating market through seven different segments – product type, coating type, substrate type, vehicle type, sales type, coating chemical type and region. The automotive wheel coating market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of automotive wheel coating and product adoption across several end-use industries
Key Questions Answered in the Report:
Which coating chemical type will capture major share of automotive wheel coating market globally and why?
What are the factors propelling the global automotive wheel coating market?
What will be the revenue size of automotive wheel coating market by 2020?
Who are the leading manufacturers in the automotive wheel coating market?
Which trends and innovations are expected to shape the global automotive wheel coating market in coming years?
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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