Fact.MR Publishes Study of Performance Coatings Market
DUBLIN, Ireland — A new study published by research firm Fact.MR predicts that the global market for performance coatings will experience significant growth by 2030, backed by the automotive and aerospace industries. The study expects that COVID-19 will impact demand in the short-term.
The automotive industry accounts for the majority of performance coatings market share. The performance coatings industry has experienced growing demand in China, Japan and India. Increasing demand for customized automotive products, provided by custom auto shops, has resulted in numerous market opportunities for performance coatings. An increase in the number of aerospace vehicles has also resulted in increasing demand for performance coatings, as these coatings improve aesthetic and functional features.