Coatings Market Grows in India
Demand for Refinished Automotive Coating Strengthens
Concerns over the environmental impact of volatile organic compounds, along with pricing pressures from auto manufacturers add to the challenge. Therefore, the development of plastic coatings and the diversification of product lines with an emphasis on costeffective, environment-friendly products, including water-borne and ultraviolet-curable coatings, is the need of the hour.
Consolidation to Come?
Furthermore, the research company expects that the scope for consolidation in the refinished coating sector will broaden the prospects of automotive coating manufacturers in India. Establishing channel partners in tier II and III cities will help quicken the market penetration, especially in the refinished coatings segment.