Coatings World - March 2017

FEATURE

Strengthened economies around the globe are contributing to a rise in automotive sales, particularly in emerging economies in the Asia-Pacific region. As such, the global automotive coatings market is expected to reach $36.31 billion by 2025, according to a January 2017 report by Grand View Research. Population growth, weather protection and improved standards of living are considered key components of growth in this market.

Moreover, the increased maintenance, repair and refurbishing of older vehicles still on the road are expected to stimulate growth, the report stated. Additionally, researchers found that a growing number of road accidents in countries with adverse road conditions in mountainous areas are anticipated to fuel the demand for these products over the upcoming years – particularly in Brazil and India.