Original equipment manufacturers' (OEMs') coating choice and strategy could be vital for achieving overall cost reduction and improving manufacturing efficiency. Automotive manufacturers prefer paints that cure quickly, reduce downtime and improve the reliability of the coating process.
Coatings also help automotive OEMs to differentiate their brands with innovative color schemes, allowing coating companies to charge a premium for their products and services.
New analysis from Frost & Sullivan (chemicals.frost.com), Strategic Analysis of Global Automotive OEM Coatings Market, finds that the market earned revenues of $7.6 billion in 2009 and estimates these to reach $14.1 billion in 2016.
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Coating manufacturers are working hard on developing technologically superior products to improve their revenue shares.
"Coatings manufacturers continue to create new technologies to address the market demand for high performance, improved appearance, and environment-friendly products," says Frost & Sullivan Industry Analyst Easwaran S.A. "Nanotechnology and radiation-cure technology have been developed to offer higher gloss and greater mar-resistance and scratch-resistance."
Coating manufacturers have also introduced novel products such as clearcoats based on ultraviolet (UV) curable technology and clearcoats with self-healing properties. UV/electron beam (EB)-cure coatings continue to gain momentum as more coatings manufacturers have recognized their considerable environmental benefits, apart from their high performance and faster assembly line advantages.
UV curable coatings will gain special significance over the next ten years, as volatile organic compound (VOC) regulations become more stringent. Coating companies are also focusing on other promising areas such as waterborne technology formulations.
"Automotive OEM coating market participants can also feel optimistic about the significant rise in the number of vehicles built in Asia Pacific countries such as China and India," notes Easwaran.
China's emergence as the largest automotive market in 2009 has compelled the automotive OEMs to shift their production bases from mature markets to these emerging economies. Automotive OEM coating companies have followed on the heels of their end-user markets, hiking the revenue share of the Asia Pacific region.
Strategic Analysis of Global Automotive OEM Coatings Market is part of the Chemicals & Materials Growth Partnership Services program, which also includes research in the following markets: European market for special effect paint and coating additives and pigments, Global automotive refinish coating additives markets, South African industrial paints and coatings markets, North America protective coatings markets, Brazilian paints and coatings market, and Mexican paints and coatings market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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