With the emergence and long-term Impact of COVID-19, the Global Automotive Wheel Coating Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Automotive Wheel Coating Market is poised to raise up to USD XX Billion by 2030. Automotive Wheel Coating refers to the application of protective and decorative layers on the surfaces of vehicle wheels. This coating serves several purposes, including enhancing the aesthetic appeal of the wheels, providing protection against environmental elements, and contributing to the overall durability of the wheels. The Automotive Wheel Coating Market is expanding because of factors such as increasing demand for electric vehicles and the rising number of heavy commercial vehicle fleets.
The coating is commonly applied to both steel and alloy wheels, and appears in several forms, including paints, clear coatings, and specialized finishes. As a result, the demand for Automotive Wheel Coating has progressively increased in the international market during the forecast period 2023-2030. Original Equipment Manufacturers manufacturing electric vehicles have specific requirements for wheel coatings. Manufacturers of coatings need to adapt their products to meet the specifications and preferences of electric vehicle manufacturers According to Statista, globally the number of electric vehicles sold in 2020 was 3.18 million; in 2022 the number reach 10.24 million and it anticipated to reach 12.97 million by 2025.
Another important factor that drives the Automotive Wheel Coating Market is the increasing number of heavy commercial vehicle fleets. Heavy commercial vehicles, such as trucks and buses, typically endure more challenging operating conditions compared to passenger vehicles. The demand for coatings with enhanced durability, resistance to road debris, and protection against harsh weather conditions increases with a larger heavy commercial vehicle fleet. In addition, as per Statista, in 2020, there were 53.92 million passengers cars sold globally, and up to 57.49 million passenger cars were sold in 2022. Furthermore, China was the world’s largest regional market for automobiles in 2022.
Moreover, rising consumer demand for corrosion-resistant and high-performance coatings and expansion of the automotive industry are anticipated to create lucrative growth opportunities for the market over the forecast period. However, the high cost of Automotive Wheel Coatings and lack of awareness are going to impede overall market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Automotive Wheel Coating Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the significant production and consumption of automotive wheels in the region. The region’s dominant performance is anticipated to propel the overall demand for Automotive Wheel Coating.
Furthermore, North America is expected to grow fastest over the forecast period, owing to factors such as the increasing presence of key market players in the region. Key players engage in strategic partnerships or collaborations with automotive manufacturers, suppliers, and other stakeholders. These collaborations can lead to joint ventures, exclusive supply agreements, or co-development efforts, influencing the availability and adoption of specific wheel coating solutions.
The global Automotive Wheel Coating Market is highly competitive owing to the presence of several key manufacturers such as Akzo Nobel N.V., Kansai Paint Co. Ltd, PPG Industries Inc., Axalta Coating Systems Ltd, BASF SE, Emil Frei GmbH and Co. KG, and others.
For further analysis on this or to request a sample copy of this report, please click the link mentioned below:
Key findings of the study suggest:
- Global Automotive Wheel Coating Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the vehicle type segment, passenger cars emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to significant production and consumption of automotive wheels.
- North America is expected to grow at a high CAGR followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Coating Type:
- Powder Coating
- Liquid Coating
- Ceramic Coating
- Chrome Plating
- Misc
By Substrate:
- Alloys
- Carbon Fiber
- Composite Materials
- Steel
- Misc
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Performance and Sports Cars
- Off-road Vehicles
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
To get a sample of this report or to purchase a copy of the study, you can directly contact us at: sales@bizwitresearch.com
About Us
Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
Contact US
Global Business Development
Phone : +1 209 498-3066
Email: Sales@bizwitresearch.com
Website: www.bizwitresearch.com
