Automotive Coatings Market Continues to Rise
Refinish formulations continue to gain center stage in the automotive coatings market.
The automotive coatings market is expected to witness an increase in volume sales of over 3,500 tons in 2018 over 2017, according to a recent study. Refinish formulations continue to gain center stage in the automotive coatings market, while waterborne coatings are gaining increased focus for basecoats.
Waterborne automotive coatings have reportedly gained prominence over the years of evolution, driven by environmental and health concerns of the solventborne automotive coatings. The demand for waterborne coatings as primer surface layer is likely to witness decline in tandem with increasing palpability of UV-cure automotive coatings.
UV-cure variants, albeit accounting for minor share of the market currently, have emerged as fast-selling automotive coatings and the status quo is likely to prevail in 2018 and beyond. Demand for solventborne coatings is expected to remain higher than solventborne coatings in 2018.
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