Automotive Wheel Coating Market Trends

Automotive Wheel Coating Market Drivers

Adoption of Advanced and Lightweight Coatings

• Automotive manufacturers are focusing on using advanced and lightweight coatings to comply with modern emission standards and keep their vehicles light. Use of advanced coatings not only provides protection but also provides a good aesthetic look.

Surge in Vehicle Production

• High disposable income of people around the world has resulted in increased demand for vehicles and this has pushed automotive companies to expand their production capabilities, which in turn, is slated to benefit automotive wheel coating demand.

Automotive Wheel Coating Market Restraints

Performance Requirements

• Performance requirements are different for all types of vehicles, and ensuring coatings meet them is tough for automotive wheel coating providers. Hence, extensive investments in R&D are required to overcome the performance barrier.

Pricing Pressure

• There are several regional and international automotive wheel coating companies operating in the global marketplace, this has resulted in a fierce competitive pricing scenario. This is beneficial for small companies who operate on lower margins and have less expenses but is a nightmare for international companies as this could sometimes cut into their profits.