On The Road Again
In 2020, there were nearly 280 million registered vehicles on the road in the US. This number is expected to increase to over 290 million by 2022. In addition, the average age of these vehicles is growing due to improved technology and a slow down in new vehicle purchases. This increase in traffic and vehicle age is driving increased demand for high quality automotive refinish coatings.
Automotive Refinish CoatingsAs more vehicles crowd the roads and the number of miles traveled increases there is a greater likelihood of a vehicle being damaged either through wear & tear or a collision. Automotive refinish coatings play a large role in returning damaged vehicles to their former glory and ensuring automobiles remain looking as good as new. While the market for automotive refinish coatings is expected to grow, there are some key challenges & trends repair shops and coating manufacturers are faced with that must be addressed.
Challenges & Trends
Vehicles today are composed of many types of materials. As OEMs incorporate more sensors into the vehicle body and move to lighter weight parts, refinish coatings must adapt in order to perform on multi-substrate surfaces without interfering with vehicle performance.
Long Term Performance
As mentioned above, the average age of vehicles on the road is on the rise. Automotive refinish coatings must be able to withstand years of exposure to UV, rain, and extreme temperatures without discoloring, scratching, or failing.
VOCs & Sustainability
Many automotive manufacturers have set forth initiatives in compliance with new regulations to reduce VOC's and improve sustainability of automotive manufacturing. In order to remain compliant and competitive, refinish coating manufacturers must meet many of these new standards while maintaining optimal coating performance.