Q. At the business end of the FY2022, what is the outlook for automotive coatings across segments from a short to medium-term perspective?
A. With the Covid-19 situation improving, accompanied by a favourable market scenario across the automotive sector and the government's thrust to infrastructure and Electric Vehicles (EVS), the market for automotive paints is expected to observe a decent growth in a demand. We expect to reach the pre-pandemic levels in terms of business value. From a long-term perspective, we see a lot of positive trends due to various policies such as the new scrap policy and the changing market dynamics. As Covid19 ebbs and normalcy is restored, India's automotive paints industry is poised to bounce back. As per recent industry estimates the Indian automotive paints and coatings market is expected to grow at a Compounded Average Growth Rate (CAGR) of over 30 per cent during 2021-26.
Q. Your take on the aftermarket for paint and consumable solutions?
A. India's automotive industry has experienced a sharp rise in the sale of used or second-hand vehicles. During the past couple of years, the secondhand market has taken a driver seat and is in fact expected to exceed the new car sales in a few years. As per a recent industry report, the used car market in India is expected to reach a volume of a whopping 70 lakh units in 2025-26, from 38 lakh units in 202021. This sharp growth across the used vehicle segment will further trigger the growth of automotive paints and consumable solutions as well.
Q. What is the outlook for industrial coatings for the coming years?
This story is from the April 2022 edition of Commercial Vehicle.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 2022 edition of Commercial Vehicle.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
PLASTIVISION - 2023
THE LATEST TECHNOLOGY, IDEAS, MACHINERY, AND ECO-FRIENDLY SOLUTIONS WERE ON SHOW AT PLASTIVISION 2023. PRAJAKTA CHAVAN POINTS TO THE DELIBERATIONS AND THE OUTCOMES THAT STOOD OUT IN THIS EDITION.
19TH EV EXPO 2023: Sustainable Transportation On The Cards
STAKEHOLDERS OF THE EMOBILITY OPPORTUNITY STEPPED UP WITH A FORWARD-LOOKING PORTFOLIO AT THE 19TH EV EXPO 2023. RICHA TYAGI PICKS THE STANDOUT DISPLAYS AS THE INDUSTRY CHALKS A VISION.
NEXT GENERATION TRACTION INVERTER: SAFE, EFFICIENT AND COMPACT
BORGWARNER HAS IMPROVED THE PERFORMANCE, INTEGRATION AND RELIABILITY OF ITS INVERTER TECHNOLOGY BY REDESIGNING THE POWER, COOLING AND CONTROL SYSTEMS AND SIMPLIFYING PRODUCTION.
SUSTAINABLE TECHNOLOGY
DANA INDIA IS CARVING ITS PATH TOWARD SUSTAINABLE DEVELOPMENT, MARKED BY STRATEGIC INITIATIVES. IN THIS PIECE, ASHISH BHATIA DETAILS THE COMPANY'S ENDEAVOURS AND COMMITMENT.
LIUGONG ADVANCES CEV PORTFOLIO
ASHISH BHATIA LOOKS AT HOW LIUGONG INDIA IS COMMITTED TO ADVANCING INNOVATION, SUSTAINABILITY AND CUSTOMER SATISFACTION IN THE CONSTRUCTION EQUIPMENT SECTOR.
MAHINDRA EXCELS WITH SUPRO PROFIT TRUCK
WITH SUPRO EXCEL, M&M IS CONFIDENT OF ENHANCING CUSTOMER PROFITABILITY IN THE SUB-TWO-TONNE SEGMENT. PRAJAKTA CHAVAN RANE HIGHLIGHTS THE USPS OF THE NEW ENTRANT.
VOLVO AND EICHER BUSES
SHAPING THE FUTURE OF PUBLIC MOBILITY
PM MODI UNVEILS AMBITIOUS NATIONAL HIGHWAY PROJECTS ACROSS INDIA
Prime Minister Narendra Modi has spearheaded a momentous push towards infrastructural development with the inauguration or foundation laying of 112 National Highway projects valued at approximately rupees one lakh crore.
CV TRENDS AT SIAT EXPO 2024
ARAI ORGANISED THE 18TH SIAT 2024. DEVEN LAD AND PRAJAKTA CHAVAN HIGHLIGHT THE PROGRESSIVE MOBILITY DEVELOPMENTS.
ACMA REASSURES CONTINUATION OF ROBUST GROWTH
ACMA REASSURES CONTINUITY OF ROBUST GROWTH IN THE CV ANCILLARIES BACKED BY STRATEGIC INVESTMENTS