Product ID: SQMIG25A2256
Global Automotive Wheel Coating Market Size, Share, Growth Analysis, By Coating Type(Powder Coating, Liquid Coating), By Substrate(Alloys, Carbon Fiber), By Vehicle Type(Passenger Cars, Light Commercial Vehicles) - Industry Forecast 2024-2031
Report ID:
SQMIG25A2256 |
Region:
Global |
Published Date: March, 2024
Pages:
172
|
Tables:
96 |
Figures:
76
Global Automotive Wheel Coating Market Dynamics
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.
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.
Global Automotive Wheel Coating Market Report Snapshots
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