USD 4.9 billion
Automotive Wheel Coating Market Size, Share, Growth Analysis, By Coating Type(Powder Coating, Liquid Coating, Ceramic Coating, Chrome Plating), By Substrate(Alloys, Carbon Fiber, Composite Materials, Steel), By Vehicle Type(Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Performance and Sports Cars), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2256 |
Region:
Global |
Published Date: March, 2024
Pages:
172
|Tables:
96
|Figures:
76
Automotive Wheel Coating Market Insights
Global Automotive Wheel Coating Market size was valued at USD 4.9 billion in 2022 and is poised to grow from USD 5.06 billion in 2023 to USD 6.51 billion by 2031, growing at a CAGR of 3.2% in the forecast period (2024-2031).
Specialized coatings designed and manufactured specifically for use on automotive wheels are known as automotive wheel coatings. Growing automotive production around the world and increasing emphasis on improving vehicle aesthetics are projected to be key factors driving automotive wheel coating market growth. These coatings not only provide an attractive aesthetic but also provide protection to the wheels to shield it from chemicals, dust, and other types of elements that could cause wear and tear. Advancements in the coating industry are also predicted to create new opportunities for automotive wheel coating providers across the forecast period and beyond. All-weather coatings are forecasted to be highly coveted among all automotive manufacturers around the world.
Europe and the Asia Pacific region are slated to be the most attractive regional markets for automotive wheel coating companies over the coming years. On the contrary, pricing pressure and specific performance requirements of different vehicles are projected to hamper automotive wheel coating market growth potential in the long run.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Steel
Fastest Growth
Composite Materials
Growth Rate
3.2% CAGR
Global Automotive Wheel Coating Market ($ Bn)
Country Share for Europe Region (%)
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Automotive Wheel Coating Market Segmental Analysis
The global automotive wheel coating market is segmented based on coating type, substrate, vehicle type and region. In terms of coating type, the market is segmented into powder coating, liquid coating, ceramic coating, chrome plating, and others. Based on substrate, the market is bifurcated into alloys, carbon fiber, composite materials, steel, and others. In terms of vehicle type, the market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, performance and sports cars, and off-road vehicles. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Substrate
The preference for steel wheels is projected to be high across the forecast period allowing to account for a dominant market share. Better lifespan and durability of steel is what allows this segment to hold sway over the global marketplace. Growing use of steel wheels in commercial as well as passenger vehicles will also contribute to the high market share of this segment in the automotive wheel coating market.
On the other hand, the demand for wheels made with composite materials is projected to soar high at a rapid pace over the coming years. Increasing efforts of the automotive industry to reduce vehicle weight to comply with stringent emission mandates are estimated to favor growth in the composite materials segment going forward. Moreover, advancements in composite material development will also boost market growth via this segment.
Analysis by Vehicle Type
Passenger cars are slated to hold a dominant position in the global automotive wheel coating market across the forecast period. Changing consumer preferences and rising demand for aesthetically pleasing automotive components allow the passenger care segment to hold a dominant stance. Growing disposable income of people around the world is also allowing them to spend more on custom wheels, which is also slated to benefit growth in this segment.
Meanwhile, the demand for automotive wheel coating from the performance and sports car segment is slated to rise at a notable pace in the future. Increase in the number of high-net-worth individuals around the world is a key factor that will bolster sales of automotive wheel coating in this segment going forward.
Global Automotive Wheel Coating Market By Substrate
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Automotive Wheel Coating Market Regional Insights
Europe is projected to account for a sizeable chunk of the global automotive wheel coating market share across the forecast period owing to the presence of a robust automotive industry and key automotive manufacturers. Increasing launches of new vehicles and different types of wheel components are also slated to create new opportunities for automotive wheel coating companies in this region. Germany is estimated to account for a dominant market share in this region while being followed by countries such as France, Italy, and the UK.
On the other hand, rapidly increasing automotive production in the Asia Pacific region is earmarking it as the fastest-expanding regional market in the world. Japan, China, and India are slated to be the top countries in this region. Growing disposable income and rising sales of commercial as well as passenger vehicles in this region are contributing to the surging demand for automotive wheel coating. Moreover, the presence of a strong coating industry in this region is also slated to aid automotive wheel coating market development in the long run.
Global Automotive Wheel Coating Market By Region
- Largest
- Fastest
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Automotive Wheel Coating Market Dynamics
Drivers
- Adoption of Advanced and Lightweight Coatings
Automotive manufacturers are focusing on using advanced and lightweight coatings to comply with modern emission standards and keep their vehicles light. Use of advanced coatings not only provides protection but also provides a good aesthetic look.
- Surge in Vehicle Production
High disposable income of people around the world has resulted in increased demand for vehicles and this has pushed automotive companies to expand their production capabilities, which in turn, is slated to benefit automotive wheel coating demand.
Restraints
- Performance Requirements
Performance requirements are different for all types of vehicles, and ensuring coatings meet them is tough for automotive wheel coating providers. Hence, extensive investments in R&D are required to overcome the performance barrier.
- Pricing Pressure
There are several regional and international automotive wheel coating companies operating in the global marketplace, this has resulted in a fierce competitive pricing scenario. This is beneficial for small companies who operate on lower margins and have less expenses but is a nightmare for international companies as this could sometimes cut into their profits.
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Automotive Wheel Coating Market Competitive Landscape
Automotive wheel coating manufacturers collaborate with automotive manufacturers to develop specialized products and maximize their sales potential. Companies also focus on mergers, collaborations, partnerships, and acquisitions to enhance their global market presence and share. Adoption of new materials is also a key trend that will open up new opportunities for automotive wheel coating suppliers. Automotive wheel coating market players emphasize utilizing advanced coating manufacturing technologies to improve productivity and profitability.
Top Player’s Company Profiles
- Akzo Nobel N.V.
- Enkei
- Kansai Paint Co. Ltd.
- Mangles Industrial
- Iochpe-Maxion
- Mefro Wheels
- PPG Industries Inc.
- Borbet
- Accuride Corporation
- Steel Strip Wheels
- Axalta Coating Systems
- BASF SE
- Emil Frei Gmbh and Co. KG
- Hitachi Metals
- Lankwitzer Premium Coatings
- Citic Dicastal
- TIGER Coatings GmbH and Co. KG
- Arsonsisi
- Helios Coatings
- Superior Industries International
Recent Developments
- In February 2022, AzkoNobel, a renowned name in the paints and coatings industry, announced that it had acquired the wheel liquid coatings business from Lankwitzer Lackfabrik GmbH. This move strengthened AzkoNobel’s place in the global automotive wheel coating marketplace.
- In April 2021, PPG, a leading company known for its paints and coatings, announced the acquisition of Cetelon Lackfabrik GmbH. Through this move PPG strengthened its stance in the automotive wheel coating business.
Automotive Wheel Coating Key Market Trends
- Use of Eco-friendly Coatings: Automotive wheel coating manufacturers should target the sustainability trend and move away from harmful and toxic chemicals used in coatings while replacing them with eco-friendly materials. This trend is projected to open a plethora of new opportunities for automotive wheel coating providers in the long run.
Automotive Wheel Coating Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, rapidly increasing automotive production and sales around the world are forecasted to primarily drive the demand for automotive wheel coatings over the coming years. Advancements in coating technology and growing emphasis on making vehicles lightweight to comply with modern emission mandates are other factors that could promote sales of automotive wheel coating in the future. On the contrary, meeting performance requirements specific to different vehicles will be a key challenge for automotive wheel coating companies going forward. The Asia Pacific region is slated to exhibit the fastest growth of all regions owing to rapidly surging automotive production in countries such as China, India, and Japan. Meanwhile, automotive wheel coating market players should invest in the development and sales of eco-friendly automotive wheel coatings to comply with the modern sustainability mandates.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.9 billion |
| Market size value in 2031 | USD 6.51 billion |
| Growth Rate | 3.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Wheel Coating Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Wheel Coating Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Wheel Coating Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Wheel Coating Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Wheel Coating Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Wheel Coating Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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