Multi-client StudyGlobal Industrial Coatings Markets 2010 – 2020                              0. Scope and Samples
Multi-client StudyGlobal Industrial Coatings Markets 2010 – 2020                                    Scope and Samples     ...
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Overview                Executive Summary: Preliminary Findings Update                                              Global...
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Scope and Samples                                        Trucks, Buses and Other Vehicles                                 ...
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  1. 1. Multi-client StudyGlobal Industrial Coatings Markets 2010 – 2020 0. Scope and Samples
  2. 2. Multi-client StudyGlobal Industrial Coatings Markets 2010 – 2020 Scope and Samples Irfab Multi-client Studies are produced by The Paint Resaearch Association (PRA) Global Surface Coatings Covered A member of the Pera Innovation Network
  3. 3. Scope and Samples Contents Scope of the Study 3Contents Structure of the Study 4 Sample Pages 5 Overview 1 Executive Summary 5 2 Economic Indicators 9 3 Regulations 9 Transport 4 Automotive OEM 10 5 Automotive Refinish 14 6 Motorcycles 18 7 Trucks, Buses and Other Vehicles 22 8 Rail 26 9 Aircraft 30 10 Marine Coatings 34 Construction & Infrastructure 11 Protective Coatings 38 12 Industrial Wood Coatings 42 13 Agriculture, Construction and Earthmoving 43 Where are a chapter has not yet 14 Pre-coated Metal Sheet 47 been published sample pages are Packaging & General Industrial taken from the previous study, Global Industrial Coatings Markets 15 Metal Packaging Coatings 48 2006 – 2020. 16 General Industrial Coatings 49 17 Plastic Coatings 53 Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-2
  4. 4. Scope and Samples Scope of the Study The Global Industrial Coatings Markets 2006-2020 study provided a unique source of data and insights on thisScope of the Study broad and fragmented sector. However, at the time it was written the global economic downturn and its impact on coatings demand was not expected. The 2010 update provides the latest outlook to 2020 and examines how the markets for industrial coatings have been affected by the recession. The study examines each of the main geographic regions and builds a picture of global market dynamics. Our extensive programme of interviews has been extended to include not only paint manufacturers but many key players in the end-user markets, allowing us to provide comment on the most important country markets. A new report structure reflects this approach; each industry sub-sector includes a discussion of the underlying market drivers and dynamics before presenting an overview of coatings demand. Value and volume estimates are provided at the top level, with detailed segment and regional coatings demand presented in volume terms. The reference year for this study is 2009. To allow readers to easily compare and contrast with the pre- recession market, trend data is provided for the period 2005 to 2009. To ensure consistency across chaptersGeographic Regions scheduled for later release, our forecast includes commentary on market developments for 2010 and beyond,For the purposes of this study, unless otherwise accompanied by the latest available data.stated, we have adopted the followinggeographic regions for reporting purposes: Following feedback from subscribers to the original study, we have further refined our market definitions and, for the first time, we have introduced a new chapter relating to Plastics Coatings. The study also presents detailed► Europe annual projections of coatings demand for the next five years to complement our 2020 outlook. EU 27 plus Norway and Switzerland This makes the Global Industrial Coatings Markets 2010-2020 study our most ambitious and comprehensive► CIS & ROE industry review to date. It is an invaluable tool to improve understanding of the end-user coatings markets and to Former Soviet Union and Rest of Europe support strategic decision making.► MEA Middle East & Africa including Turkey► North America United States, Canada and Mexico (NAFTA)► South America Including Central America► Asia Pacific Including South Asia and Australasia Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-3
  5. 5. Scope and Samples Structure of the Study Where appropriate the content of a chapter of the study follows a standard pattern.Structure of the Study 1 Executive Summary A succinct overview of the markets definition, size, value, technologies and The chapters of the study: drivers. Forecasts to 2015 and the outlook to 2020 are included. 2 Introduction Overview 2.1 Market Definition A detailed description of how we have defined the market and its segments. 1 Executive Summary 2.2 Macro Drivers The underlying factors that drive this coatings market. 2 Economic Indicators 2.3 Impact of Economic Downturn Highlights the most significant impacts of the global recession on this coatings 3 Regulations market. Transport 3 Technology 4 Automotive OEM 3.1 Current Technology A review of the technologies used in this market. 5 Automotive Refinish 3.2 Technology Systems A description of the technology systems used, both established and novel. 6 Motorcycles 3.3+ Technologies by segment A section on each market segment with details of its specific technologies. 7 Trucks, Buses and Other Vehicles 4 Markets 8 Rail 4.1 Global Market Drivers and Trends A detailed review of important influencing factors and how they affect end- 9 Aircraft user markets. 4.2 Global Market Size and Growth An overview of resulting coatings demand by region and segment. 10 Marine Coatings 4.3+ Markets by segment A detailed assessment of demand for coatings within each market segment. Construction & Infrastructure 5 Suppliers 11 Protective Coatings 5.1 Suppliers Global Position Who are the key suppliers, globally and regionally? 12 Industrial Wood Coatings 6 Outlook 13 Agriculture, Construction and Earthmoving 6.1 Forecast Commentary Developments since 2009 and summaries of key trends expected to drive 14 Pre-coated Metal Sheet future coatings demand Packaging & General Industrial 6.2 Forecast Data Comprehensive forecasts to 2020 by segment, technology and region. 7 Glossary Definitions of terms used in the text. 15 Metal Packaging Coatings 8 Terms and Conditions 16 General Industrial Coatings 17 Plastic Coatings The following pages are samples from the study. Where are a chapter has not yet been published pages from the previous study, Global Industrial Coatings Markets 2006 – 2020 are shown. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-4
  6. 6. Scope and Samples Executive Summary Chapter Contents1. Overview — Executive SummaryThe Executive Summary is provided to subscribers of the Introductioncomplete study. It provides a concise overview of the Global SummaryGlobal Industrial Coatings Market, covering definitions,drivers and key technologies. The 2009 market size in Automotive OEMboth volume and value terms are also included,accompanies by volume projections for 2015 and market Automotive Refinishindicators for 2020. MotorcyclesThe sample pages presented are taken from thePreliminary Findings Summary, which was presented to Trucks, Buses and Other Vehiclesearly subscribers following completion of the initialresearch phase. RailThe Executive Summary, which will be published at the Aircraftconclusion of the study, will also incorporate top leveltrend data for each of the chapters for the period 2006- Marine Coatings2009, making it an ideal reference document for themanagement team. Protective Coatings Industrial Wood Coatings Agriculture, Construction and Earthmoving Pre-coated Metal Sheet Metal Packaging Coatings General Industrial Coatings Plastic Coatings Terms and Conditions Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-5
  7. 7. Overview Executive Summary: Preliminary Findings Update Global Summary Global Industrial Coatings Demand by Region (tonnes)Global Summary Regional Share Trend Region 2006 2007 2008 2009 2009 % 2006-2009 Europe, Middle East, Africa • ••• ••• • ••• ••• • ••• ••• • ••• ••• •• ▼ Americas • ••• ••• • ••• ••• • ••• ••• • ••• ••• •• ▼ Asia Pacific • ••• ••• • ••• ••• • ••• ••• • ••• ••• •• ▲ Total •• ••• ••• •• ••• ••• •• ••• ••• •• ••• ••• ▼ Global Industrial Coatings Demand by Market Segment Region 2006 2007 2008 2009 Share % Automotive OEM ••• ••• ••• ••• ••• ••• ••• ••• •.• Automotive Refinish ••• ••• ••• ••• ••• ••• ••• ••• •.• Motorcycles •• ••• •• ••• ••• ••• ••• ••• •.• Trucks, Buses and Other Vehicles ••• ••• ••• ••• ••• ••• ••• ••• •.• Rail ••• ••• ••• ••• ••• ••• ••• ••• •.• Aircraft •• ••• •• ••• •• ••• •• ••• •.• Marine Coatings • ••• ••• • ••• ••• • ••• ••• • ••• ••• •.• Protective Coatings • ••• ••• • ••• ••• • ••• ••• • ••• ••• •.• Industrial Wood Coatings • ••• ••• • ••• ••• • ••• ••• • ••• ••• •.• Agriculture, Construction & Earthmoving ••• ••• ••• ••• ••• ••• ••• ••• •.• Pre-coated Metal Sheet ••• ••• ••• ••• ••• ••• ••• ••• •.• Metal Packaging ••• ••• ••• ••• ••• ••• ••• ••• •.• General Industrial • ••• ••• • ••• ••• • ••• ••• • ••• ••• •.• Total •• ••• ••• •• ••• ••• •• ••• ••• •• ••• ••• Global Industrial Coatings Markets 2010 – 2020 © PRA 2010 Page 1-4
  8. 8. Overview Executive Summary: Preliminary Findings Update Protective CoatingsChapter 11. Protective Coatings Protective coatings fall into three categories: Infrastructure; Chemicals, Oil & Gas; and Process Industries. The coatings covered by this chapter are applied to steel and concrete substrates to provide corrosion resistance, fire protection and to protect structures exposed to hazardous operating conditions from environmental damage (hazardous conditions are those classified as C3 and above by ISO 12944) The global market for protective coatings is worth approximately €•.• billion driven by coatings consumption of around •.• million tonnes. As protective coatings covers a wide range of markets the drivers will vary for each segment. However, in general terms the overall macro demand drivers are: Government policies relating to investment in infrastructure and the economic stimulus packages proposed and implemented in response to the economic crisis of 2008 and 2009. The global prices for major commodities (i.e. oil, gas and metals). High prices drive investment in exploration and production and revenue generated allows the commodity producing countries to invest in infrastructure. Harmonisation of global regulatory requirements and regional legislation. Service life performance and the requirement to ensure efficient compliance with quality and environmental demands imposed on corrosion protection. Waterborne technology has increased share considerably to 15% penetration. Powder coatings have 4% technology share. Solventborne accounts for 81% of the technology, of which 36% are medium solids and 45% are high solids. Global Industrial Coatings Markets 2010 – 2020 © PRA 2010 Page 1-19
  9. 9. Overview Executive Summary: Preliminary Findings Update Protective Coatings Infrastructure accounts for approximately 40% of protective coatings consumption. The oil and gas industry is the next largest segment, accounting for around 35% of demand. Substantial levels of growth are expected in the Middle East and Asia Pacific as the countries modernise their infrastructure. A high level of growth is expected in Brazil due to government policy of awarding majority of contracts to domestic players. Infrastructure in the United States is aging and is attracting considerable investment to update. The five year economic development plans of countries such as China and India make infrastructure a major focus. The Chinese 12th Five Year Plan 2011 to 2015 is currently being developed by the Government, which is based is on the assumption that GDP will grow at a rate of approximately 8% per year. This level of growth will drive investment in all the key Protective Coatings Sectors. Brazil is expected to invest in infrastructure for the 2016 Olympics and the 2014 World Cup. Global Coatings Demand (tonne) Region 2006 2007 2008 2009 Trend 2006-09 Europe, Middle East, Africa ••• ••• ••• ••• ••• ••• ••• ••• ▲ Americas ••• ••• ••• ••• ••• ••• ••• ••• ▲ Asia Pacific ••• ••• ••• ••• ••• ••• ••• ••• ▲▲ Total • ••• ••• • ••• ••• • ••• ••• • ••• ••• ▲ Region 2009 Share % CAGR % 2015 2020 Outlook Europe, Middle East, Africa ••• ••• ••.• •.• – •.• ••• ••• ▲ Americas ••• ••• ••.• •.• – •.• ••• ••• ▲ Asia Pacific ••• ••• ••.• •.• – •.• ••• ••• ▲▲ Technology 2009 Share % CAGR % 2015 2020 Outlook Waterborne ••• ••• ••.• •.• – •.• ••• ••• ▲▲ Solventborne • ••• ••• ••.• •.• – •.• • ••• ••• ● Powder •• ••• •.• •.• – •.• •• ••• ▲▲ Note: the data for 2006 has been adjusted from that shown in the original Global Industrial Coatings Market study following a re-evaluation of the information. Global Industrial Coatings Markets 2010 – 2020 © PRA 2010 Page 1-20
  10. 10. Scope and Samples Pages from Global Industrial Coatings Markets 2006 – 20202. Overview — Economic Indicators3. Overview — RegulationsThese chapters consolidate information taken from the study chapters concerning the macro-economic and regulatory environments that affect each of the markets.Presented with the Executive Summary to subscribers of the complete study, they combine toprovide valuable information on key economic trends, underlying market drivers andregulatory influences on the Global Industrial Coatings Market. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-9
  11. 11. Scope and Samples Automotive OEM Chapter Contents4. Transport — Automotive OEM 1 Executive Summary 4 Markets 5 Suppliers 2 Introduction 4.1 Global Market Drivers and Trends 5.1 Suppliers Global Position A Automotive Vehicle Production 2.1 Market Definition 6 Outlook B Performance of the Global Economy 2.2 Macro Drivers C Household Disposable Income 6.1 Forecast Commentary D Oil Prices and Costs of Raw Material Inputs 2.3 Impact of Economic Downturn 6.2 Forecast Data E Growing Environmental Awareness and Green 3 Technology Mobility 7 Glossary F Availability of Finance 3.1 Automotive Supply Chain and Material Substrates 8 Terms and Conditions 4.2 Principal Automotive Producers 3.2 The Body Coating Process A Toyota 3.3 Current Technology B General Motors (GM) A Electrocoat Layer C Volkswagen AG (VW) B Primer Surfacer Layer D Renault-Nissan Group C Basecoat Layer E Ford Motor Company D Clearcoat Layer F Hyundai Motor Company E Single Finish Coat Layer G Fiat-Chrysler Group F Comparative Layer Costs and Economics of Supply H Honda Motor Company I PSA Peugeot-Citroën 3.4 New Developments and Standards J Suzuki Motor Corporation A New Developments in Coating Processes B Other Developments 4.3 Global Market Size and Growth C Standards A Automotive OEM Coatings Demand in Asia Pacific B Automotive OEM Coatings Demand in Europe, Middle East and Africa C Automotive OEM Coatings Demand in the Americas Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-10
  12. 12. Transport Automotive OEM TechnologyTypical Automotive Body Coating Process 3.2 The Body Coating Process The coating processes used by the automotive industry for metal bodies and plastic components differ. Coating of bodies is carried out in-house by the OEM whereas plastic components (see Chapter 17: Coatings for Plastics) are normally supplied to the manufacturer ready finished by the Tier 1 or 2 suppliers. All coatings used by the Tier 1 and 2 suppliers must be fully approved by the OEM. Although there are some variations depending on company manufacturing strategies and production line design, all of the mass-production vehicle manufacturers typically adopt a similar coating process. The standard approach is a three or four coat process, the coatings layers being: 1. Electrocoat 2. Primer surfacer 3. Top coat. Between coats, the body will normally undergo a manual sanding operation to provide a smooth base for the application of subsequent coats. This is particularly important before the application of the top coat to ensure a high quality finish. The top coat can be either one coat of a solid colour top coat; or one colour basecoat followed by a clearcoat. Before painting, the vehicle body passes through a rigorous inspection, known as the ‘body in white’ operation. The vehicle shell passes through a brightly lit white room and is fully wiped down by visual inspectors using cloths soaked in hi-light oil, which allows inspectors to identify defects in the body panels. The shell is then immersed and cleaned of all residual oil, dirt and contaminants. Once the vehicle body has been cleaned, it moves through a drying booth before receiving the electrocoat. The body again enters a drying booth before being prepared for the final coating operations. The body will normally undergo manual sanding operations after the application and curing of the electrocoat and the primer surfacer to provide a smooth base for the application of subsequent coats. The top coat can be either one Automation of coating lines is growing and external body surfaces are increasingly spray-painted by robots. coat of a solid colour top coat; Automotive OEMs are starting to use robots for the internal surfaces to further reduce operating costs, but still or one colour basecoat with a manual touch-in facility to coat difficult areas that provides an additional on-line quality inspection stage. followed by a clearcoat Each of the separate coating layers are cured at temperatures exceeding 135ºC (275ºF) before the application of the next layer, with the exception of the basecoat. The basecoat is only dried at ambient or elevated temperature before application of the clearcoat, the two layers then being fully cured in one operation. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 4-8
  13. 13. Transport Automotive OEM MarketsGlobal Vehicle Manufacturing by Major CountryProducer in 2006 and 2009 (million units) A Automotive Vehicle Production Worldwide automotive vehicle manufacturing output declined as a result of the recession by 4.6% in 2008 and 12% in 2009 to around 58.3 million vehicles produced. The industry recovered strongly in 2010 and production output increased by over 25% to over 72 million vehicles. This growth is driven mainly by the emerging markets in the Asia Pacific region, where China has overtaken Japan and the US to become the largest single country producer of automotive vehicles in the world. The Asia Pacific region accounts for over 45% of vehicles produced. Western Europe is the next largest regional industry, accounting for around 25% of vehicle output in 2009 followed by North America, which produced just under 15% of global vehicle output. The industry is highly competitive with a number of well established manufacturers. Many suppliers offer their products to the global market competing in a number of vehicle categories. Typically it takes between three and five years to design and build a new vehicle. There are two significant trends shaping the global automotive industry: Increasing competition Localisation of production The level of competition in the automotive industry is intense and consolidation has resulted in an increase in larger groups competing to supply the market. The competitive intensity increases as more manufacturers become larger. In 1995 nine automaker groups produced 80% of global output, which did not change significantly for the next ten years. However, between 2005 and 2010 the number of manufacturer groups supplying 80% of world output reached twelve. Competitive pressures are expected to continue increasing as industry dynamics change due to further consolidation and new entrants in the emerging economies; it is expected that 15 manufacturer groups will supply 80% of global output by 2020. The volume of locally produced vehicles is increasing as manufacturers seek to maximise the effectiveness of their supply chains. Data produced by IHS Automotive suggests that the number of vehicles manufactured in the areas where they were sold rose from about 50 million in 2005 to 60 million in 2010. The global volume of locally produced vehicles is expected to reach 80 million by 2015 and 90 million by 2020 with most of the increase being due to expanding production in China. In contrast, vehicle import levels have remained fairly constant at between 12 million and 13 million units per year over the period 2005 to 2010. The regional re- distribution of automotive production, primarily driven by the emerging markets, is a long-term trend that accelerated during the economic downturn and is expected to intensify by 2020 due to regional demand dynamics and political drivers. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 4-25
  14. 14. Transport Automotive OEM OutlookForecast World Coatings Demand by Segment2010-2020 Forecast Coatings Demand by Product Segment 2010-2020 (million litres)(million tonne) 2010 2011 2012 2013 2014 2015 2020 Europe, Middle East & Africa •••.• •••.• •••.• •••.• •••.• •••.• •••.• The Americas •••.• •••.• •••.• •••.• •••.• •••.• •••.• Asia Pacific •••.• •••.• •••.• •••.• •••.• •••.• •••.• Overall Coatings Demand •••.• •••.• •••.• ••••.• ••••.• ••••.• ••••.• Forecast Coatings Demand by Product Segment 2010-2020 (million litres) 2010 2011 2012 2013 2014 2015 2020 Passenger Cars •••.• •••.• •••.• •••.• •••.• •••.• ••••.• Light Commercial Vehicles •••.• •••.• •••.• •••.• •••.• •••.• •••.• Overall Coatings Demand •••.• •••.• •••.• ••••.• ••••.• ••••.• ••••.•Forecast World Coatings Demand by Technology2010-2020(million tonne) Forecast Coatings Demand by Technology 2010-2020 (million litres) 2010 2011 2012 2013 2014 2015 2020 Solventborne •••.• •••.• •••.• •••.• •••.• •••.• •••.• Waterborne •••.• •••.• •••.• •••.• •••.• •••.• •••.• Powder coatings •.• •.• •.• •.• •.• •.• •.• Electrocoat •••.• •••.• •••.• •••.• •••.• •••.• •••.• Overall Coatings Demand •••.• •••.• •••.• ••••.• •••• ••••.• ••••.• Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 4-71
  15. 15. Scope and Samples Automotive Refinish Chapter Contents5. Transport — Automotive Refinish 1 Executive Summary 4 Markets 2 Introduction 4.1 Global Market Drivers and Trends A Road Safety Evolution 2.1 Market Definition B Motor Insurance Industry 2.2 Macro Drivers C Car Scrapping Schemes D Company Fleet Market 2.3 Impact of Economic Downturn E Passenger Car Market 3 Technology F Refinish Product Marketing 3.1 Current Technology 4.2 Global Market Size and Growth A Body Fillers and Putties A Automotive Refinish Coatings in the Americas B Primers and Primer Surfacers B Automotive Refinish Coatings in EMEA C One-Coat Topcoats C Automotive Refinish Coatings in APAC D Basecoats 4.3 Suppliers Global Position E Clearcoats 5 Outlook 3.2 Regional Coating Technology A Coatings Technology in Europe, Middle East 5.1 Forecast Commentary and Africa 5.2 Forecast Data B Coatings Technology in the Americas C Coatings Technology in Asia Pacific 6 Glossary 3.3 Standards and New Developments 7 Terms and Conditions A Regulations B UV Curable Refinish Products C Colour Matching Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-14
  16. 16. Transport Automotive Refinish Technology C Colour MatchingRegional Variations in Colour Preferences: World Accurate colour matching remains an important aspect of this market; even the same OEM colour applied on different production lines can vary. The coating manufacturers are investing in improving their colour matching systems and are adding new colours to their ranges to meet the demand from the purchasers of new cars for new, more exotic colour effects obtained from, for example, speciality colour shift pigments. The choice of vehicle colours for passenger cars varies across the world according to culture and taste but metallic finishes (silver) and black are consistently popular along with white. Automotive Refinish Products — Regional Variations in Colour Preferences for 2010 South Global Europe US Japan China South Korea Colour America % % % % % % % Silver 26 17 17 24 33 33 33 Black 24 24 18 22 23 31 26 Grey 16 19 15 5 13 18 14 Blue 5 9 9 10 3 2 3 Red 6 7 11 3 9 4 4 Light brown / Beige 3 5 5 3 3 1 1 White 16 14 21 28 13 9 18 Green 2 1 2 1 3 1 1 Others 2 4 2 4 0 1 0 Source: DuPont Automotive Systems – Global Colour Popularity Report Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 5-22
  17. 17. Transport Automotive Refinish MarketsConsumption of Coatings for Automotive Refinish C Automotive Refinish Coatings in APACby Category: Asia Pacific The market for Automotive Refinish coatings in Asia Pacific is estimated to be over ••• million litres (•••,•••(million litre) tonnes) following continued growth during the recession with around 3% CAGR over the period 2006 to 2009. This resulted in an estimated market value of around €1.6 billion. Asia Pacific Consumption of Coatings for Automotive Refinish by Category 2005 – 2009 (000 litres) 2005 2006 2007 2008 2009 Filler • ••• • ••• • ••• • ••• • ••• Primers •• ••• •• ••• •• ••• •• ••• •• ••• Basecoat / colour coat •• ••• •• ••• •• ••• •• ••• •• ••• Clearcoat •• ••• •• ••• •• ••• •• ••• •• ••• Total ••• ••• ••• ••• ••• ••• ••• ••• ••• ••• % change •.•% •.•% •.•% •.•% The Asia Pacific region was the best performing market for Automotive Refinish coatings during the recession and in 2010, the market has continued to grow, reaching almost ••• million litres (•••,••• tonnes) with an approximate value of €1.8 billion. The region presents a mix of market dynamics, ranging from the mature, relatively static markets of Japan, Korea and Australia to the high growth markets of China and India, with annual growth rates of 10% to15%. Other developing markets, such as Thailand, also exhibit good growth rates at around 7% per year. The growing spending power of populations in the developing countries of Asia Pacific, together with the increasing importance of the region as a car manufacturing centre, will ensure continued growth at a comparatively faster pace than the markets in Europe and North America for the next ten years.Average Sales Price of Coatings by Category:Asia Pacific The types of coating used in this market range from similar technologies as used in North America, Europe and Japan. Traditionally nitrocellulose and air-dry alkyd paints have been used in China and India and are still available► Filler 5.00 /kg in these countries. However, there is a growing environmental awareness and use of low-VOC compliant► Primers 6.00 /litre technology, both high solids and waterborne basecoats in both these countries and across the Asia Pacific region.► Colour coat 10.00 /litre The Chinese and Indian markets are both exhibiting rapid growth as car ownership per head of population increases with higher levels of consumer spending power. An important distinction between the Chinese market► Clear coat 8.00 /litre and the mature market of Japan is the large number of first-time buyers. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 5-42
  18. 18. Transport Automotive Refinish Markets AkzoNobel has significantly boosted its presence in the Chinese automotive market after acquiring ChangzhouMarket Leaders for Automotive Refinish Coatings: Prime Automotive Paint Co. Based in Jiangsu province, Prime is one of China’s largest vehicle refinish suppliersKorea and a leader in the fast-growing mid-market segment. This sector is estimated to double in size within the next five years. AkzoNobel is also the preferred global supplier of car refinishes to the Chinese automotive manufacturer Great Wall Motors. AkzoNobel’s Refinishes business has focused mainly on China’s premium and commercial vehicle refinish sector. PPG is active in China and extended its distribution network with the acquisition of Bonny Paints in 2008. DuPont, BASF and Nippon Paint are all present in the market. BASF has a customer service centre in Shanghai and Shenyang to improve its capabilities for this market. There are also a large number of Chinese companies supplying the domestic market. The top local supplier is Onwings from Donglai Coating Technology (Shanghai). South Korea represents the third largest Automotive Refinish market in the Asia Pacific region and has been growing, reaching a value of around $125 million in 2009. Further growth is forecast as the number of cars increases. The market has a range of local as well as multi-national companies supplying products. KCC Paints is the market leader in this country with an estimated 34% of the local market. NOROO Paint & Coatings is the next largest player and has been actively developing its Automotive Refinish business, generating $32 million sales in 2009 and securing 25% of the market. NOROO have joint ventures in China, Saudi Arabia and Vietnam and introduced a waterborne basecoat technology called HiQ Water Color to the market in 2009. BASF has also established a technical centre for developing advanced eco-friendly coatings for the automotive industry in South Korea. Their plans are to conduct research and development of waterborne coatings for useMarket Leaders for Automotive Refinish Coatings: by automotive OEMs as well as the technology for an integrated coating process, which yields more cost-India efficient results. This in turn will help the transition to use globally accepted waterborne basecoat technology in the Automotive Refinish market. India presents a significant opportunity as the Automotive Refinish coatings segment is one of the country’s fastest growing areas in the industrial paints market. The potential opportunity offered by this market results in intense competition in the coatings supply industry. Automotive Refinish coatings, which constitutes approximately 30% of overall automotive coatings demand in India, is witnessing tremendous growth due to: The fast growing second-hand used vehicle market A preference for high value, high performance coating technologies, such as polyurethane paints, substituting the traditional forms of refinishing paints such as nitrocellulose and synthetic alkyds. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 5-44
  19. 19. Scope and Samples Motorcycles Chapter Contents6. Transport — Motorcycles 1 Executive Summary 4 Markets 5 Suppliers 2 Introduction 4.1 Global Market Drivers and Trends 5.1 Suppliers Global Position A Motorcycle Production 2.1 Market Definition 6 Outlook B Performance of the Global Economy 2.2 Macro Drivers C Household Disposable Income 6.1 Forecast Commentary D Population and Urbanisation Growth 2.3 Impact of Economic Downturn 6.2 Forecast Data E Growing Environmental Awareness 3 Technology F Availability of Finance 7 Glossary 3.1 Current Technology 4.2 Principal Motorcycle Producers 8 Terms and Conditions A Liquid Coatings: Solventborne and A BMW Motorrad Waterborne B Bajaj Auto B Powder Coatings C Harley Davidson C Electrocoat D Honda D UV Coatings E Kawasaki F Piaggio Group 3.2 Coatings Technology by Application G Suzuki A Metal Components H Yamaha B Plastic Components 4.3 Global Market Size and Growth C In-Mould Coating A Motorcycle Coatings Demand in Asia Pacific B Motorcycle Coatings Demand in the Americas C Motorcycle Coatings Demand in Europe, Middle East and Africa Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-18
  20. 20. Transport Motorcycles Technology A Liquid Coatings: Solventborne and Waterborne The coating technologies used in the motorcycle industry is a combination of those used in the Automotive OEM and Automotive Refinish markets. The choice will normally depend on the type of component beingMotorcycle Colour Preferences: World coated and the volumes being produced for specific components. The colour scheme is also a consideration. One-component Technologies One-component coatings are used primarily for coating metal parts and are mainly oven-cured coatings based on polyester or acrylic; the same types as those used in the Automotive OEM industry. Metallic base coats used for both metal and plastic parts are also one-component types. Primer surfacers are used direct to pretreated bare metal for corrosion resistance, or over an electrocoat primer where higher performance and appearance is required. Solventborne coatings are normally based on polyester, cross-linked with a melamine hardener. Medium or high solid types are used depending on VOC regulations. Waterborne primer surfacers are also based on polyester melamine technology. The majority of primers are solventborne. Base coats and colour coats are increasingly important as OEMs use more complex pigments (such as pearlescent natural and synthetic micas or other special effect pigments) and increase their range of colour bases for new models. For solid colour finishes typically applied to smaller two wheeler models, a single finish coat of a solventborne acrylic melamine top coat is used. Waterborne coatings are rarely used for these finishes. For higher value machines, a two coat base and clear system is applied. Metallic or pearlescent colour schemes are also common for larger machines. One-component base coats are used in both oven cured, one- component coating processes and when a two-component coating clearcoat is used. Solventborne, oven-cured base coats can be based on acrylic, polyester or acrylic/polyester combinations, Base coats and colour coats are depending on the coating supplier, with CAB being incorporated into metallic colour formulations to provide increasingly important as OEMs use consistent colour development during spray application. These are cross-linked with melamine or blocked isocyanate. Base coats used with two-component coating processes are based on thermoplastic acrylics. more complex pigments and increase their range of colour bases Waterborne base coats are based on a combination of acrylic and polyurethane dispersions, cross-linked with melamine or blocked isocyanate for oven cure processes or based on air dried binders when used with two- component clearcoats. Clearcoats are exclusively solventborne in this market as waterborne types do not meet the performance and appearance requirements. One-component clear coats are based on acrylic, normally cross-linked with melamines. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 6-6
  21. 21. Transport Motorcycles MarketsMotorcycle Manufacturers: India India is still the second largest producer with the output exceeding 11 million units, accounting for over 20% of► Bajaj Auto motorcycle production in the Asia Pacific region. Domestic sales of motorcycles and other PTWs have increased in India since 2006, contributing to production growth of 7.3% CAGR over the period 2006 to 2009.► Escorts Group Motorbikes account for over 80% of the total market. A number of factors have influenced consumer► Hero Group preferences: motorbikes have replaced scooters as the preferred means of individual transport due to their► Honda Motorcycle & Scooter India (HMSI) higher load capacity; motorbikes are more fuel-efficient and aesthetically appealing. Two-wheeler exports have grown at around 25% CAGR between 2005 and 2010, exceeding one million units in 2009.► Ideal Jawa The Indian industry landscape changed in late 2010 when market leader Hero Honda, the long-standing joint► Kinetic Engineering venture between Hero Group and Honda Motor Company, was dissolved. Hero Group bought Honda’s 26%► Lohia Machinery stake and has plans for re-branding in order to target both the domestic and highly competitive international► Mopeds India markets. Honda Motor, which has a plant in the north of India, is building a second plant in Rajasthan, another northern state, and has plans to build a third facility in 2013 with capacity for 1.2 million vehicles. A new facility is► Royal Enfield expected to start manufacturing in 2011 with an annual production capacity of 600,000 units, which will double► TVS Motor in March 2012. These new facilities will supply the domestic market and export to Latin America. Bajaj Auto was the second largest two-wheeler manufacturer in India before the dissolution of Hero Honda. The market is likely to see increased competition over the next few years as a result, particularly in the luxuryMotorcycle Manufacturing Output: India motorbikes segment, including premium sports bikes. With over 285,000 estimated millionaire households atmillion units the end of 2011, India is expected to have the largest growth in total millionaire wealth of the emerging economies to 2020 and the luxury motorbike segment is expected to be the fastest growing domestic market. Harley Davidson, Ducati, Hyosung and BMW have all announced intentions to compete on the Indian market for premium motorcycles. Royal Enfield, Bajaj Auto, Suzuki, HMSI and Mahindra are also planning to introduce new products. While Ducati plans to bring premium motorcycles into India, Harley Davidson and South Koreas S&T Motors have already established plants to assemble their vehicles within the country as government tax policies make domestically produced motorcycles far more attractive. One feature of the Indian market is the large three-wheeler segment, where the vehicles are used for passengers and freight to cope with urban congestion. Three-wheeler production has grown by over 9% CAGR over the period 2005 to 2009 to reach around 620,000 units. Bajaj Auto is the largest domestic player in the three-wheeler segment, accounting for 95% of exports in 2010. The company export markets include: Sri Lanka, Egypt, Nepal and Bangladesh. Piaggio Vehicles, of Italy, leads in terms of volume sales and recently launched its 1.3 tonne three-wheeler Ape in India. Mahindra & Mahindra also recently launched its three- wheeler passenger vehicle Alpha Passenger. Force Motors, a joint venture between Bajaj Tempo and MAN, is a leading player in the goods carrier segment. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 6-16
  22. 22. Transport Motorcycles Markets Grupo Elektra is the largest domestic producer or motorcycles through its Italika brand, and has had salesMotorcycle Production 2009: Americas growth since 2005, claiming a share of 55% in 2009. The company produced 61,000 motorcycles in 2008,(000 units) rising to 123,000 in 2009. Export markets are: Honduras, Peru, Guatemala, and Brazil. International players like Honda, Yamaha, Suzuki and Harley Davidson are all present. In 2010, Polaris Industries announced the opening of a new plant in Mexico. Polaris is the parent company of Victory Motorcycles in the US. The United States suffered a collapse in production output of 40% during 2009. The production volume contracted by 19.5% negative CAGR over the period 2006 to 2009, falling from 1.1 million units to 0.6 million. Sales were also recorded at low levels, showing a declining trend for the past four years. The US is also the largest market for All Terrain Vehicles (ATVs) in the world, where they are used for sport and hunting. According to the Motorcycle Industry Council, domestic sales declined by over 14% in 2009 to less than half of their 2006 level. Sales of highway motorcycles were 383,000 units in 2009 compared to 660,000 and 724,000 units sold in 2008 and 2007 respectively. While the recession affected all geographical markets, the US market was worst affected as the motorcycle is mainly used for sports and recreation. There are a number of motorcycle manufacturers producing low-volume custom-made, unique and expensive models to this market. As consumers curtailed discretionary spending, the industry suffered and in 2009, Texas-based American IronHorse filed for bankruptcy. Another US manufacturer of high-style, custom vehicles, Big Dog Motorcycles, closed in April 2011. The most important domestic producer in the US is Harley Davidson, which experienced a significant fall inMotorcycle Production Trends 2005–2010: revenues due to the recession. Production numbers for Harley Davidson also indicate the pressures in theAmericas domestic market as the proportion of units destined for export has continued to increase from 21.8% in 2006 to 37.5% in 2010. Argentina experienced a dramatic increase of 58% in 2006 but has slowed to an average annual growth rate of between 7% and 8% since. After a 5.5% drop in production in 2008, the industry recovered with positive growth of over 7% in 2009 and 8% in 2010 to pass pre-crisis production levels. Peru is another market with potential for growth. Production increased by 15% in 2007 and 16% in 2008 before declining by 3.2% in 2009. The industry showed signs of recovery in 2010 when output increased by 3.2% to reach 5,000 units of annual production. According to the National Census of Manufacturing Establishments, there are 78 motorcycle assembly facilities in Peru, one third of which is based in the capital Lima and Callao, the most important port in Peru. The most popular brands are: Honda, RTM, Bajbaj and Wanxin. In 2009, over 81% of imported motorcycles came from China, 14.8% from India, 2.4% from Brazil and less than 1% from Japan. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 6-21
  23. 23. Scope and Samples Trucks, Buses and Other Vehicles Chapter Contents7. Transport — Trucks, Buses and Other Vehicles 1 Executive Summary 4 Markets 5 Suppliers 2 Introduction 4.1 Global Market Drivers and Trends 5.1 Suppliers Global Position A Performance of the Global Economy 2.1 Market Definition 6 Outlook B Freight Trends 2.2 Macro Drivers C Urbanisation 6.1 Forecast Commentary 2.3 Impact of Economic Downturn 4.2 Production of Trucks, Buses and Other 6.2 Forecast Data Vehicles 3 Technology 7 Glossary A Truck Manufacturing 3.1 Current Technology B Trailer Production 8 Terms and Conditions C Bus and Coach Production 3.2 Technology Systems D Other Vehicles Production A Solventborne and Waterborne Liquid Coatings 4.3 Principal Truck and Buses Producers B Electrocoat A Isuzu Motors C Powder Coatings B Daimler AG D Other Coating Systems C Tata Motors D Volvo Group 3.3 Truck Coatings A Chassis 4.4 Global Market Size and Growth B Cabins A Truck and Bus Coatings Demand in Asia C Bodies and Trailers Pacific B Truck and Bus Coatings Demand in the 3.4 Bus and Coach Coatings Americas A Chassis C Truck and Bus Coatings Demand in B Bodies Europe, Middle East and Africa 3.5 Other Vehicles 3.6 New Developments and Standards A New Developments in Vinyl and Decal Technologies B Standards Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-22
  24. 24. Transport Trucks, Buses and Other Vehicles Technology Use of Plastics and CompositesUse of Plastics and Composites in a Typical Truck Whilst the majority of truck and bus components are manufactured from metal, there is a rapidly developing trend for greater use of composite and plastic parts, particularly in North America and Europe. These materials offer the potential for vehicle weight reduction, reduced fuel consumption and a wider range of styling options. Plastic body parts allow OEMs to offer differentiated products with operational advantages and strong visual impact. Composite and plastic materials generally have better resistance to climate and adverse environments, but have relatively low resistance to impact and buckling when compared to metal substrates. Consequently, they tend to be used for non-structural components and where impact absorption, rather than those where impact resistance, is required. Despite these material constraints, the coatings industry can expect a progressive change from metals towards plastic and ‘smart’ materials over the next ten years. Currently, it is estimated that plastic parts account for up to 40% of the total coatings consumption for a typical cabin, depending on the design. Adoption is expected to increase as plastics find wider adoption in the emerging industries. Many countries in the developing world still manufacture truck bodies and cabs almost entirely in metal. In some parts of India, China and Africa, large truck bodies are still produced using wooden components mounted onto a modern vehicle chassis. The pace of adoption for modern materials is also likely to be faster in these markets, where producers benefit from technology transfer from joint ventures and partnerships with established OEMs. The comparative costs of metal versus plastic components will be weighed against the benefits to lower running costs, which are achieved from the reduced overall vehicle weight. Luxury coaches and special buses produced in low volumes often have the entire front and rear ends manufactured from GRP, which allows the manufacturers to produce more aerodynamic and aesthetic designs. In contrast to the Automotive OEM industry, where the plastic components are supplied by the Tier 1 suppliers fully finished, these main truck and bus components are normally coated by the OEMs on the same paint lines as the metal components. As a result, the coating technologies and the volume demand are included in this chapter. Further information on the coatings used for the smaller plastic components, used in cabin interiors by truck and bus manufacturers, are included within the figures for Chapter 17: Coatings for Plastics. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 7-7
  25. 25. Transport Trucks, Buses and Other Vehicles Markets GermanyTruck Production Output: Germany Germany is the largest market for trucks in Europe. Road haulage accounts for 95% of the total freight industry(000 vehicles) in value terms. After a relatively stable growth in truck production, which is attributed to increased levels of freight transportation, the annual output of trucks dropped in 2009. According to the VDA, German manufacturers reduced production by an average of 52% in response to falling orders, which resulted in overall reported output falling by 65% in 2009 to 89,000 trucks. Prior to the 2009 collapse, industry output had exceeded 200,000 units per year, and peaked at 257,000 units in 2008. There were signs of recovery in 2010, when new registrations of heavy trucks increased by 13.4% to reach 39,209 units. Reported output reached 134,000 units, but return to pre-recession levels is not expected before 2015. There is an industry concentration around Bavaria and Baden-Württemberg in the south of Germany. Germany is home to the world’s largest truck manufacturer Daimler, based in Stuttgart. The company represented over 55% of industry output in 2009, producing over 49,000 trucks from its German plants. Trucks are sold in Europe under the Mercedes-Benz brand. Due to rising demand in the emerging markets, Daimler Trucks received increased orders in 2010 and the company’s plants were operating at almost full capacity. This is welcome news following a fall in sales of 45% in 2009. Daimler also produces trucks in Portugal and Turkey. MAN experienced a decrease of 30% in 2009 sales, but reported an increase in new orders for commercial vehicles of 68% in 2010 due to improved conditions in Europe and continuing expansion in Brazil. The company produced just fewer than 15,000 vehicles in Germany during 2009, representing almost 17% of the industry’s output. Europe remains MAN’s most important region, generating 56% of all orders, where the main markets are Germany, the UK, France and Russia. The Americas represent 27% of sales and the remainder coming fromDomestic Truck Producers: Germany Asia Pacific. The main production facilities are in Augsburg (Bavaria) in the south and Ruhr (North Rhine-► Daimler Westphalia) in the northwest of the country.► MAN German manufacturers produce about 27% of trucks domestically and 73% at their foreign facilities. The most important locations for German manufacturers abroad are China and Brazil. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 7-49
  26. 26. Transport Trucks, Buses and Other Vehicles Markets A Truck and Bus Coatings Demand in Asia Pacific In common with the Automotive OEM coatings market, the Asia Pacific region generates the highest demand for Asia Pacific region generates associated coatings in terms of estimated quantities consumed. In 2009 just over •••,••• tonnes the highest demand for (••• million litres) of coatings were used for Trucks, Buses and Other Vehicles. associated coatings... just over Not only does the Asia Pacific account for over 65% of worldwide demand, but it was the only region to •••,••• tonnes generate positive growth throughout the recessionary period. The estimated market demonstrated growth of 5.3% CAGR over the period 2006 to 2009, reaching a value of over €442 million. Coatings Demand for Asia Pacific 2005 – 2009 (tonne) 2005 2006 2007 2008 2009 Truck •• ••• •• ••• •• ••• •• ••• •• ••• Trailer •• ••• •• ••• •• ••• •• ••• •• ••• Bus •• ••• •• ••• •• ••• •• ••• •• •••Truck and Bus Coatings Demand: Asia Pacific Other Vehicles ••• ••• ••• ••• • •••(000 tonne) Total •• ••• ••• ••• ••• ••• ••• ••• ••• ••• % Change ••.• •.• •.• •.• The coatings demand in the Truck segment returned modest growth of 2% in 2009 over the previous year, following strong growth in each of the previous periods, to reach almost •• thousand tonnes (•• million litres). This represents over 62% of the regional coatings demand. The majority of this is generated by the leading truck production industry in China. Demand in this segment exhibited a 10.2% CAGR over the period 2006 to 2009, making it the best performing segment along with Trailers. Trailers demand is closely correlated to that of heavy trucks, as the units require the tractor unit for movement. Consequently, this segment exhibited similar growth pattern to that of Truck coatings demand, and reached ••,••• tonnes (•• million litres) in ••••. Bus coatings’ demand was artificially inflated in the early part of the review period due to Chinese investment in transit systems prior to the 2008 Olympics. This resulted in some degree of market re-balancing in 2008, but demand is still increasing largely thanks to the development of affordable urban transport and public transport infrastructure in Asia Pacific, particularly in China and India. The decline of 41% in 2008 contributed to an 11.1% negative CAGR for the period 2006 to 2009. Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 7-80
  27. 27. Scope and Samples Rail Chapter Contents8. Transport — Rail 1 Executive Summary 4 Markets 4.5 Rail Coatings Market in Americas 2 Introduction 4.1 Global Market Drivers and Trends A Market Drivers A Passenger Industry and Rail Freight B Market Dynamics, Size and Growth 2.1 Market Definition Performance 4.6 Rail Coatings Market in Asia Pacific 2.2 Macro Drivers B Urbanisation C Growing Environmental Awareness A Market Drivers 2.3 Impact of Economic Downturn B Market Dynamics, Size and Growth D Availability of Finance 3 Technology 4.2 New Build Rolling Stock 5 Suppliers 3.1 Current Technology A Rolling Stock Manufacturing and Trends in 6 Outlook Europe, Middle East and Africa 3.2 Technology Systems B Rolling Stock Manufacturing and Trends in 6.1 Forecast Commentary A One-Component (1K) Coatings the Americas B Two-Component (2K) Coatings 6.2 Forecast Data C Rolling Stock Manufacturing and Trends in C Fillers Asia Pacific 7 Glossary D Rail Refurbishment 3.3 Coatings Technology by Application 8 Terms and Conditions A Passenger Carriages and Multiple Units 4.3 Global Market Size and Growth B Locomotives A Freight Rolling Stock Coatings C Freight B Passenger Rolling Stock Coatings D Refurbishment C Locomotive Rolling Stock Coatings D Rolling Stock ‘Below the Solebar’ Coatings 3.4 General Coating Technology Trends A Passenger Carriages and Locomotives 4.4 Rail Coatings Market in Europe, Middle East B Freight Cars and Africa A Market Drivers B Market Dynamics, Size and Growth Global Industrial Coatings Markets 2010 – 2020 © PRA 2011 Page 0-26

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