Kuala Lumpur, Malaysia – September 10, 2024 – IGL Coatings, a global leader in sustainable coatings, is one of the 50 SMEs to participate in the Selangor Ecommerce Accelerator Programme 2024 (ECX24). The ECX24 initiative, run by the Selangor Information Technology and Digital Economy Corporation (SIDEC), aims to accelerate digital transformation and prepare businesses for global growth.

Held at Asia School of Business (ASB) Academics, this event was graced by the presence of YAB Dato’ Seri Amirudin Shari, Dato’ Menteri Besar Selangor, who was joined by YB Tuan Gobind Singh Deo Minister of Digital, YB Ng Sze Han, Selangor State Executive Councillor for Investment, Trade & Mobility, YBhg. Dato’ Paduka Syed Mashafuddin Syed Badarudin, Chief Executive Officer, Affin Islamic Bank Berhad and Yong Kai Ping, CEO of Sidec. IGL Coatings, already present in over 50 countries, will harness this opportunity to further solidify its global reach and contribute to the fast-growing eCommerce sector.

“IGL Coatings is already making an impact in 50 countries, but our vision is much bigger,” shares Fiona Chin, Co-Founder of IGL Coatings. “Digital commerce knows no boundaries, and through this accelerator program, we are excited to unlock new possibilities for improving global trade, especially supporting our Distributor network. The world is truly our marketplace, and with the right digital tools, there are no limits to what we can achieve.”

Statistics Reflect the Booming eCommerce and Automotive Markets

The rise of eCommerce allows businesses like IGL Coatings to connect with customers worldwide, increase sales, and introduce innovative products and services. According to Statista, the global revenue in the eCommerce market is projected to reach $4.1 trillion in 2024. While markets such as electronics, health & living, and fashion are more established, the e-commerce automotive aftermarket sector is still in its infancy—offering untapped potential.

The automotive e-commerce market is expected to experience significant expansion globally. According to Allied Market Research, the global automotive e-commerce market, valued at $38.67 billion in 2021, is projected to reach $176.24 billion by 2031, with a compound annual growth rate (CAGR) of 17.5%. This growth is driven by government regulations, a trend toward vehicle customization, and companies adopting online sales channels to streamline operations.

Recent developments in Malaysia, such as consumers booking Teslas online without the need for a physical showroom, further demonstrate the growing shift towards digital platforms in the automotive industry. IGL Coatings aims to leverage this trend, pushing forward with its partners to make an even greater impact through innovative online solutions.

Powering Global Growth Through Digital Transformation ECX24

Through the ECX24, IGL Coatings will take advantage of immersive workshops, mentorship, and resources that will enhance their digital strategy, elevate customer engagement, and expand into new global markets. The company’s commitment to innovation and sustainability will help lead the way for digital transformation in the automotive coatings industry.

“Our participation in ECX24 comes at a pivotal time for IGL Coatings,” said Keong Chun Chieh, Founder and CEO of IGL Coatings. “We see this program as a springboard to deepen our digital capabilities, scale our operations, and, most importantly, amplify our global impact. By integrating cutting-edge digital strategies, we aim to make our eco-friendly solutions accessible to a broader audience and continue shaping a more sustainable future for the global coatings industry.”

About IGL Coatings

IGL Coatings is a global leader in sustainable coatings technology, offering high-performance, eco-friendly solutions that minimize environmental impact. With a strong focus on innovation, IGL Coatings intends in using digital transformation to extend its global footprint and drive a more sustainable future for the ceramic coatings industry.

For more information, visit www.iglcoatings.com.

For more information on the Selangor E-Commerce Xccelerator (ECX24) and the Selangor Accelerator Programme (SAP24), please visit www.sidec.com.my.

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Media Information:

Date: 10 September 2024
Embargo : For Immediate Release
Contact: Fiona Chin
Email:  media@iglcoatings.com