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This study presents an assessment of the current status and future prospects of the global commercial vehicle coatings market. It takes into account volume shipment and revenue generated from commercial vehicle coatings from 2017 to 2027. Revenue is recorded at the manufacturer level. Coatings in this study are defined as OEM and refinish coatings used on the exterior surfaces of on-road commercial vehicles such as heavy trucks, buses and coaches, and light commercial vehicles. This study excludes the interior coatings used in commercial vehicles. The coatings market is primarily divided into two major product groups—OEM coatings and refinish coatings—and these are further analysed based on the sub-product types (primers, e-coats, basecoats, clearcoats, and monocoats), the resin chemistries used (such as epoxy, PU, acrylic, and polyester) and the formulation technologies employed (solvent borne, waterborne, and powder).Though the spread of the COVID-19 pandemic affected the global commercial vehicle coatings market, a revival since 2021, with the disbursement of various vaccines developed around the world is anticipated to help bring the market to growth during the forecast period. Manufacturers engage in product development activities based on the changing market needs and regulatory environment. By establishing long-term relationships with their customers, manufacturers try to ensure that they are equally proactive and reactive to the various requirements of this industry.
Key Issues Addressed
Author: Christeena Thomas
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