Global Automotive Coatings Market Value Estimated at .3 Billion by 2018
Posted by niharika on July 22nd, 2019
Global Automotive Coatings Market Outlook
Globally, the demands of automobiles are increasing at a rapid pace owing to the incrementing disposable income and changing approach of people towards automotive as a need rather than a luxury. The regularly increasing density of automobiles is changing the competitive landscape for the industries associated with the automotive industry. The automotive coatings sector is multiplying huge profits owing to the flourishing automotive industry. As per the research report published by IndustryARC, the global automotive coatings market size was valued at ,345 million as of 2018. Following the current trends, the global automotive coatings market growth is expected to rise at a compound annual growth rate (CAGR) of 7.30% during the forecast period of 2019 to 2025.
Global Automotive Coatings Market: Regional Analysis
As per the regional market viewpoint, APAC region grabbed the highest share in the global automotive coatings market in 2018. The region soaked 38% of the global automotive coatings market share as it is a leading manufacturing hub for the automotive industry. Numerous factories installed in the economy of India, China and Japan manufacture various automotive spare parts that are further transported to the automotive coatings factories, subsequently optimizing the global automotive coatings market scope. The demands are expected to shoot further owing to the middle-class income earner’s growing capability translating towards affordability of these paints.
View Full Table Of Content Of Global Automotive Coatings Market
Global Automotive Coatings Industry Analysis
Global Automotive Coatings Market Trends
Exclusive OEM coatings are being developed by both established and niche companies. Some of these coatings are made using volatile organic compounds (VOC). The rising trend of applying organic materials to every possible product is driving the organic automotive coatings market. Innovations in the coatings industry will project considerate profits in the global automotive coatings market.
Global Automotive Coatings Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the automotive coatings market are BASF, AkzoNobel, PPG Industries, Axalta Coating Systems, Bayer, Sherwin-Williams, Beckers, Royal DSM, and Eastman Chemical.
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.
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About the Authorniharika
Joined: July 9th, 2019
Articles Posted: 64
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