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Automotive Wheel Coating Market by Vehicle Type (Passenger Vehicle, Light Commercial Vehicle and Heavy Commercial Vehicle), by Rim Size (13”-15”, 16”-18”, 19”-21” and Above 21”), by Material (Steel, Alloy and Carbon Fibers & Others) and by Vehicle Class (Economy, Mid-priced and Luxury-priced): Global Opportunity Analysis and Industry Forecast, 2020-2027

A08755
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Jun 2021 | 362 Views
 
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COVID-19

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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.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast unit

  Value (USD)

  Segments covered

  Vehicle Type, Rim Size, Material, Vehicle Class

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Iochpe-Maxion, Superior Industries International, Accuride Corporation, Steel Strip Wheels, Hitachi Metals, Enkei, Citic Dicastal, Borbet, Mangles Industrial, and Mefro Wheels

 

COVID-19 scenario:analysis

  • 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 segments covered:

Segments

Sub-segments

Rim Size

  • 13”-15”
  • 16”-18”
  • 19”-21”
  • Above 21”

Material

  • Steel
  • Alloy
  • Carbon Fibers and Others

Vehicle Class

  • Economy
  • Mid-priced
  • Luxury-priced

Vehicle Type

  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

 

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?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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