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Due to globalization and the per capita income of the world's population increasing, industries see potential in their new clientele. And with it the automotive paint market, they observe in these potential customers a new profit margin and also the challenges of adapting to the new standard that has been emerging.
Metals make up more than 80% of automotive components. Most of this metal is coated to prevent rust and corrosion in a short time, but of course also with proper care. The car paint market is seeing development prospects due to the emergence of UV curing coating. The coating industry can be divided into Original Equipment Manufacturing (OEM) and aftermarket or refinishing based on application.
The major end users of the automotive refinish market are collision repair centers and mechanic shops. Based on the formulation, this market can be classified into four categories, water-based, solvent-based, powder-based and UV-based coatings.
Brazil, Russia, India and China (BRIC) are expected to be the main countries to contribute to this new market that opens up. Improve economies, advances in road infrastructure and prepare for growing demand from individuals seeking automotive freedom. These are the main reasons that drive the automotive industry.
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MVOX – Automotive market growth
According to the International Organization of Automobile Manufacturers (OICA) global production increased from 77,6 million in 2010 to 87,3 million in 2013. The value of the raw material is emerging as a major challenge for the automotive coating market, as the profit of coating manufacturers is falling.
Major producers of titanium dioxide, one of the most common pigments used in the manufacture of coatings, such as Kronos, Inc., Tronox Limited and EI du Pont de Nemours and Company, among others, announced a price increase of $300/ ton, US$400/tonne and US$500/tonne, respectively, in 2011 in Asia-Pacific. Their American and European counterparts also announced an increase in the for the same year. This may be one of the reasons for the paint market to feel the impact, but not to the point of regressing in its growth, even with the increases, the car sales market continues to rise and projections indicate that the market will become even more heated over the years. next years.
The market for ecologically correct car paints, such as water-based and powder coatings, is growing rapidly, due to the growing concern of governments and the general population, this concern also extends to the emissions of polluting gases into the atmosphere, so many are defending the use of biofuel.
Various environmental agencies and government institutions have formulated regulations and issued guidelines to minimize the use of high Volatile Organic Compound coating.
