Slower Growth Rates Forecast for Coatings, Other Automotive Products
Automotive Coatings, Sealants & Adhesives, a market study by The Freedonia Group Inc., forecasts a slowing in the pace of growth from rates seen between 1993 and 1998, due to expectations of a reduced rate of growth in the U.S. automotive industry. The report predicts stronger growth rates for adhesives and sealants due to increased use per vehicle, while coatings volume increases will be affected by greater use of powders, which are described as being “more efficient” and weighing less than liquid coatings. Coatings, however, will remain the largest product segment, accounting for more than 50% of total volume and more than 75% of total value in 2003, the report concludes.
The study is offered for $3,400 by The Freedonia Group Inc., 767 Beta Dr., Cleveland, OH 44143-2326. More information is available from Corinne Gangloff, phone 440/684.9600; fax 440/646.0484; e-mail pr@freedoniagroup.com. The full study text is offered online by commercial database companies and the Freedonia website, www.freedoniagroup.com.
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