Pune, India -- (SBWire) -- 09/18/2018 --Market Scenario:

Automotive wheel coating is a type of specialty coating manufactured by a composition of pigments, resins and chemicals. Coating helps restore original wheel appearance and also protects against brake dust, chemicals, cleaning solvents, heat, and chipping. Moreover, it plays an important role in improving exterior look as well as fuel efficiency of the car. Increasing applications of automotive wheel coating in various wheel rims and increasing demand for the new type of coating are the main drivers of the market growth. The demand for coatings, such as coating product type and coating form type, which offer better protection of different wheel substrates is increasing significantly.

However, Volatility in raw material prices acts as a major restraint of the growth of the market. Global automotive wheel coating market is projected to grow at a CAGR of 2.9% during the forecast period.

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Industry/ Innovation/ Related News:

May 2016 – Winona PVD Coatings LLC, a provider of bright finish coatings for the automotive wheel industry, announced plans to expand its operations in Warsaw, Indiana, creating up to 50 new jobs by the end of 2016. Winona PVD planned to invest more than USD10 million in high-tech equipment and machinery in order to add a new production line and enhance the company's clean room at its manufacturing complex in Warsaw. The new line will be housed in the company's newest 83,000-square-foot building, marking Winona PVD's third expansion since its establishment in 2007. The company began in one 66,000-square-foot facility and now operates in three buildings with a 320,000-square-foot footprint. Winona PVD currently coats more than 1 million wheels per year using its non-hazardous G-Chrome® finish, and expects to increase production capabilities by 30 percent with this latest expansion.

June 2016 – TIGER Drylac U.S.A., Inc. introduced to the North American market a limited edition powder coatings kit that includes 24 colors and finishes grouped under the Wheel Line for the Automotive Aftermarket segment. The kit includes three primers, nine blacks, six metallic and clears powder coating finishes. TIGER Drylac automotive primers are fine-tuned for automotive special application conditions to provide the best possible basis for subsequent coatings, according to the company. TIGER Drylac clears are acrylic-based top coats that provide particularly impressive transparent and brilliant finishes fulfilling the specifications for smooth top coat systems in the wheel industry. The blacks and metallic are high quality finishes that meet the demands and requirements of the automotive aftermarket industry. They are also suitable for other industrial applications.

Regional Analysis:
Asia-Pacific market is dominating the market of automotive wheel coating market due to growth in automotive sector. Large demand and production of automobiles, development of automotive manufacturing industries in developing economies such as China and India are driving the market for automotive wheel coatings market. The market in developing countries is largely driven by economic growth and ongoing industrialization, which helps in production of motor vehicles and other manufacturing output.

North America is referred to as the second-largest automotive wheel coatings market due to factors such as large customer base and high disposable income of end-users as they fuel the demand for vehicles in the country.

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