The transportation industry is a vast ecosystem that covers everything related to the major modes of transport, namely road, rail, marine and air transport. This industry includes goods as well as passenger transport. The transportation industry is among the world’s most competitive industries. This is driven by ever-evolving technologies, regulatory policies and consumer expectations. The industry influences and is influenced by competitiveness and user dynamics across its allied industry segments, thus adding complexity in operations and necessitating continuous innovation.
The global transportation coatings market size is estimated at USD 26.2 billion in 2018, and is projected to register a CAGR of 4.4% by 2024. The transportation coatings industry includes automotive OEM, refinish, marine, aerospace and rail (Table 1). Automotive OEM coatings leads the transportation coatings market, and the market is expected to grow more as the demand for new passenger and commercial vehicles will increase in the coming years (Figure 1).