While recent years have witnessed a bit of a slowdown in the growth of the automotive sector, the value produced by body shops and repair facilities has increased significantly, which illustrates the market for automotive refinish coatings' potential for expansion.
Based on a DBS Interactive study that audited several hundred manufacturer websites using Google’s Lighthouse tool, the vast majority of websites for B2B manufacturing companies don’t meet the latest best practice criteria for technical performance and user experience.
AkzoNobel CEO, Greg Poux-Guillaume, commented, “In the first quarter of 2023, our key markets proved to be resilient despite unfavorable macroeconomic conditions.”
The global paint and coatings market is projected to grow at a CAGR of 7.73%, between 2023 and 2030. The report is broken down by product, resin type, and end user, and shows the cumulative impact of high inflation.
The quarter posted record net sales. Tim Knavish, PPG President and Chief Executive Officer, commented that “improving results are despite macroeconomic conditions that remain challenging and reflect the strengths of our diverse business portfolio.”
According to a recent J.D. Power study, paint satisfaction has remained steady as prices have increased. The study released rankings in the interior paint, exterior paint and stain, and paint retailer segments.
The global paint and coating market size is projected to grow at a CAGR of 3.3%, between 2022 and 2027. This market report breaks projections up by resin type including: acrylic, alkyd, epoxy, polyurethane, fluoropolymer, vinyl, polyester, and other.
Why are UV-curable coatings gaining traction worldwide? Given their ability to facilitate higher productivity and line speeds, UV-curable coatings support space, time, and energy savings.
The Company’s Coatings TraQr 2.0’s approximately 2,000 global indicators to explore trends and drivers in individual countries and major regions around the world.
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