Automotive Wheel Coating Market Outlook - 2027
Automotive wheel coating specializes in various special wheel coatings, which aremanufactured by making a composition of different pigments, chemicals,and raisins.Thiscoating protects the wheel against heat, wear &tear, break, dust, chemicals, and chipping. In addition,automotive wheel coating improves the exterior look of the wheel. Themarket is expected to boostdue to various reasons such as millennial requirement, increased efficiency in terms of fuel, protection, etc. Therefore,automotive wheel coating not only provides exterior advancement but also the overall technological advancement of the vehicle as well as the industry.
- COVID-19 has rapidly affected the sale of automotive industries due to closure of all markets,thus hampering the growth of the automotive wheel coating market.
- Earlier,the automotive wheel coating marketwas expected to register a significant growth in 2021, but due to COVID-19, the market is expected to decline in the near future until the situation becomes stable.
- Sales in the automotive wheel coating market plays very important role,but industries are facing a slower production due to lockdown and low demand of vehicles.This is expected toeventually lead to the decrease in the revenue of top companies.
- Due to decreased demand forvehicles, most of such companies havestopped their production.However,after the situation becomes stable, the market is expected to grow rapidly.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in demand forall-weather wheel coating and change in preferences of customers due to change in consumer dynamics drive the growth of the automotive wheel coating market.Moreover, high volatility and closure of some plants due to certain reasons hamper the growth of the automotive wheel coating market. Furthermore,advanced materials and new wheel compositions provide lucrative opportunitiesthat are expected to supplementthe growth of the automotive wheel coating market.
Increase in demand forall-weather wheel coating
There is constant rise in demand forall-weather wheel coating, which helpstoprotect wheelsfrom wear &tear and bad weather &road conditions,thereby increasing the market value of manufacturers. A strong coating acts as a shield during harsh conditions and rough terrains, thereby reducing corrosion,which provides durability and longevity to the wheel.Therefore, these factors increase the demand forautomotive wheel coatings.
Change in preferences due to change in consumer dynamics
With rise in millennial requirements, the need for attractive vehicles has increased.Thesevehicles require alloy wheels of different categories,such asalloy with aluminum, magnesium, titanium, which make vehicles look attractive and stand out among other non-coated vehicles.This requires customers to pay more,thereby resulting indriving the growth of theautomotive wheel coating market.
Key benefits of the report:
- This study presents the analytical depiction of the automotive wheel coating market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the automotive wheel coating market share.
- The current market is analyzed from 2020 to 2027 to highlight the automotive wheel coating market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the automotive wheel coating marketresearch report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Automotive Wheel Coating Market Report Highlights
By Rim Size
By Vehicle Class
By Vehicle Type
Key Market Players
Hitachi Metals, Enkei, Accuride Corporation, Citic Dicastal, Borbet, Mefro Wheels, Mangles Industrial, Steel Strip Wheels, Iochpe-Maxion, Superior Industries International