The global automotive wheel coating market is anticipated to grow at a considerable CAGR of 3.0% during the forecast period (2022-2028). Automotive wheel coating is a process of coating motor vehicle rims that are worn out for customization purposes. Wheel coatings restore the original appearance of wheels and also protect rims from corrosion, brake dust, chemicals, heat, and chipping. The major factor attributing to the growth of the global automotive wheel coating market includes the increasing adoption of wheel coatings by vehicle owners due to several benefits provided by the process of wheel coatings. These benefits include enhanced durability of wheels, high resistance, enhancement in aesthetics of vehicle, quick & cost-effective process, and increased wheel life. Thus, increasing the application of automotive wheel coating.
The application of automotive wheel coating is also increasing as the sales of motor vehicles across the globe increases . According to the Global Sales Statistics report published by the International Organization of Motor Vehicles Associations (OICA), around 82 million motor vehicles were sold across the globe in 2021. Among these, around 56 million passenger cars were sold, and 26 million commercial vehicles including light commercial vehicles and heavy commercial vehicles were sold in 2021. Thus, propelling the growth of the global automotive wheel coating market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in October 2021, PPG Industries launched a new program called “PPG Wheel Refurbishing Program”. The PPG Wheel refurbishing Program is an effective wheel refurbishing solution provided by commercial transport vehicles using the PPG Envirocron range of powder coatings. This program will support commercial tire retread centers in efficiently refurbishing wheels and transforming the rusty, and corroded wheels to near original equipment quality.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Material
- By Vehicle Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Superior Industries Inc., Iochpe-Maxion S.A., Accuride Corp., Steel Strip Wheels Ltd., and Hitachi Metals Ltd., among others.
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Global Automotive Wheel Coating Market Report by Segment
By Material
- Steel
- Alloy
- Carbon Fiber
By Vehicle Type
- Passenger Cars
- Light Commercial vehicles
- Heavy Commercial vehicles
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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