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Solvent-borne coatings have been used in automotive coatings predominantly. But, increasing environmental regulations and volatile organic emissions by these coatings may result in the decline in demand for these coatings.
The global high-brightness LED market is diversified making it highly competitive. The rise in the sales of high-brightness light emitting diodes is also attributed to factors such as the low cost of the components of LED which has reduced the average selling price.