High performance coatings, specifically engineered for withstanding thermal and mechanical stress, have witnessed a widespread adoption in the transportation sector over the past decades. These transportation coatings have been integrated in the production of vehicles and their components. Metal surfaces of long haul trucks and trailers being coated with high-velocity oxygen fuel (HVOF) coatings is a practice actively exercised in the manufacturing of vehicles and components used for transportation purposes.
According to Future Market Insights, the global sales of transportation coatings will translate over US$ 12 billion revenues by the end of 2022. The report has assessed the future of transportation coatings as key industrial materials utilized in the transportation industry for a five-year forecast period, 2017-2022. A regional analysis compiled in the report reveals that the Asia-Pacific excluding Japan (APEJ) region will represent the largest market for transportation coatings throughout the forecast period.
Demand for solvent-based coatings to surge vigorously
The report has analysed the global transportation coating market on the basis of types of coatings. In 2017, the report anticipates that solvent-based transportation coating sold in the global market will net around US$ 3.5 billion revenues. These coatings will register the fastest revenue growth through 2022, and will also hold approximately two-fifth share on global revenues anticipated to be procured throughout the forecast period.
Demand for solvent-based transportation coatings is poised to escalate as these coatings are less susceptible to temperature and humidity changes. However, production of solvent-based transportation coatings entails high VOC emissions, an environmental adversity that is viewed as a key deterrent for their adoption.
The demand for powder coatings will be steady in the global transportation coating market, while pre-treatment coatings will incur revenue growth at a robust CAGR over the forecast period.
Automotive OEMs to be viewed as largest end-user
In 2017, nearly half of the revenues procured in global transportation coating market will be accounted by automotive OEMs. Epoxies and polymer coatings are being actively integrated in the manufacturing of engine parts, vehicle chassis, and other key components.
The use of transportation coatings at initial stages through OEMs will remain to be a healthy practice for companies operating in transportation businesses. In terms of revenue, the fastest growth is anticipated to be accounted by end-use of transportation coatings in heavy duty truck industry.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Plastic coating applications will register 7.2% CAGR through 2022
Among the key applications, the report anticipates that plastic coating applications will register fastest revenue growth during the forecast period. By the end of 2022, over US$ 3.8 billion transportation coatings will be sold for these applications. Although, the report also anticipates that in 2017, metal coating applications will procure the largest global revenues share.
Manufacturers of transportation coating are expected to focus on boosting the applicability of coatings for plastic surfaces. Several companies will also be adopting new fastening techniques such as elastic bonding and offer aging resistant adhesives to support the performance of transportation coatings.
Key manufacturers of transportation coatings
The global market for transportation coatings is expected to be highly competitive. With emergence of new coating polymers and advanced production techniques, the manufacturing of transportation coating will undergo considerable transformation.
Over the next five years, The Sherwin-Williams Company, The Dow Chemical Company, PPG Industries, Inc., Nippon Paint Holdings Co. Ltd., Henkel AG & Co. KGaA, Evonik Industries AG, E.I Dupont De Numours and Company, BASF SE, Axalta Coating Systems Ltd., and Akzo Nobel NV will are pegged to remain active in the expansion of global transportation coating market. Several market players will also focus on new strategies to procure high-quality grades of raw materials used in production of transportation coatings.
- Automotive OEMs
- Heavy Duty Truck Industry
- Bus Manufacturers
- Rail Industry
- Other End-user
- Metal Coating
- Plastic Coating
- Carbon Fiber
- Other Substrates