Global Transportation Coating Market is Likely to Expand at 6.5% CAGR by 2022 End

Posted on: 26 Apr, 2018

Leading companies are focusing on implementing strategies such as product innovations and expanding their product portfolio.

Image Source: National Coatings & Supplies

High performance coatings, specially designed to withstand mechanical and thermal stress has witnessed an extensive implementation in the transportation industry over the past decade. These transportation coatings are utilized on a range of automotive components. Attributed to its sustainable features in the extreme temperature and climatic conditions, demand for the solvent-based coatings is likely to remain high in the forthcoming years.

A recent report states that the global transportation coating market is likely to expand at 6.5% CAGR, accounting for a value of more than US$ 12 Bn revenues by 2022-end. Companies namely The Sherwin-Williams Company, Akzo Nobel NV, The Dow Chemical Company, Axalta Coating Systems Ltd, PPG Industries, Inc., BASF SE, Nippon Paint Holdings Co Ltd, E.I Dupont De Numours and Company, Henkel AG & Co. KGaA and Evonik Industries AG amongst others will witness a substantial growth globally. Leading companies are focusing on implementing strategies such as product innovations and expanding their product portfolio.

PPG Industries Expands Its Automotive Coatings Portfolio

PPG recently announced the expansion of its coatings and paints solutions portfolio for autonomous, hybrid electric, and battery electric vehicles. The new technologies include exterior coatings, which would help in enhancing the visibility of vehicles to radar and LIDAR. In addition, these coatings are easy-to-clean, which enables the sensors in the autonomous vehicle to function properly. Leading manufacturers are utilizing these coatings on various components of vehicles as it improves their functionality and offers enhanced customer services.

Autonomous vehicle sensor coatings: This new technology will improve infrastructure and vehicle visibility to radar and LIDAR (light detection and ranging) sensors that are utilized in autonomous driving systems. These coatings include improved dark color transport detection, which allows the light to xpenetrate towards a reflective underlayer. The signal leaps off this layer by returning to the sensor rather than getting absorbed.

PPG IOCRON™ cathode binder: This new technology is a cost-efficient product, which eliminates dangerous NMP (N-Methylpyrrolidone) in the ordinary cathode coating procedure and retaining battery performance. PPG IOCRON™ cathode binder allows the manufacturers to develop application and formulation processes. Implementation of this technology also reduces the mixing time and provides improved or equal cell performance.

PPG mainly expanded its automotive coatings portfolio to offer improved battery performance and visibility of the vehicles. Incorporation of these technological features offer the customers reliable and safe driverless vehicles. Mcity Test Facility by University of Michigan is supporting Michigan Department of Transportation for autonomous vehicle research and testing by entering into collaboration with PPG. The facility intends to sort out various operating challenges that is faced by transports on the road along with simulated suburban and urban environments.

BASF Acquires Chemetall® For Its Groundbreaking Surface Treatment Technologies

BASF is known for its innovative techniques and Chemetall is known for offering its customers with supreme performance products and appropriate solutions. Through combination of innovation power, market players are focusing on improving customer satisfaction. With the help of Chemetall, BASF manufactures are focusing on developing customized systems and technology solutions for the applied surface treatment. These products preserve metals from corrosion, enable machining and forming, allows parts to be prepared optimally for the painting procedure and ensures proper coating adhesion.

Source: LANEWS

Link to Original Article

Please tell us your Email ID to keep you updated with industry happenings:

Advertise with us

Get Your Brand on our portal and e-mailers