Automotive Coatings Market

Posted by Edward on October 31st, 2019

Automotive Coatings Market Scenario:

The global automotive coating market is presumed to garner USD 25 billion during the forecast period (2018-2023). The global market is likely to experience a robust CAGR owing to the growing demand for passenger cars, asserts Market Research Future (MRFR).

Automotive Coatings Market Drivers and Constraints Impacting

The global automotive market is expected to demonstrate a robust growth rate owing to the rising demand for passenger cars across the globe. As the scope of for decorative, protective, and functional coatings is vast and expanding gradually with technological advances, the automotive coating market is flourishing. With the shifting consumer preference for attractive and more aesthetic vehicles, the automotive coating market is likely to boom. The increasing awareness of the consumers to protect, maintain, and enhance the longevity of their vehicles and the changing climatic conditions is anticipated to stimulate the market growth during the appraisal period. Moreover, the need to protect the metal surface of automotive parts from chemicals and rust or mechanical damage, the demand for automotive coating is considered to trigger. Also, the growing disposable income coupled with the changing lifestyles of people in regions such as China, India, Brazil, and South Korea are contributing to the market growth.

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Automotive Coatings Industry Updates:

December 11, 2018: BASF, a leading chemical company, together with its long-term customer and partner, Guangdong TGPM Automotive Industry Group Co. Ltd., has recently inaugurated the BASF-TGPM Automotive Refinish Competence Center. This brand experience center and brand-new premium training platform, located in Foshan, will serve customers across Asia.

Automotive Coatings Market Competitive Dashboard

The prominent players operating the global automotive coating market are Berger Paints India Limited (India), Arkema SA (France), Cabot Corporation (U.S.), Koninklijke DSM N.V. (Netherlands), Akzo Nobel N.V. (Netherlands), PPG Industries Inc. (U.S.), Clariant (Switzerland), Bayer AG (Germany), The Valspar Corporation (U.S.), Jotun (Norway), Kansai Paint Co.,Ltd. (Japan), BASF SE (Germany), Nippon Paint Holdings Co. Ltd. (Japan), The Sherwin-Williams Company (U.S.), and Axalta Coating Systems (U.S.).

Automotive Coatings Market Intended Audience:

Automotive coating manufacturers

Traders and distributors of automotive coating

Research and development institutes

Potential investors

Raw material suppliers

Nationalized laboratories

Automotive Coatings Market Regional Insights:

Geographically, the automotive coating market span across regions namely, North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Among all the regions, the Asia-Pacific region holds the largest market share and is likely to maintain its dominance. The growth is attributed to the rapid industrialization in recent years. Economies such as China, India, Japan, South Korea, and Malaysia are some of the major contributors to the growth of the market in this region. With rising urbanization, the growing purchasing power of people, changing lifestyles, and increasing consumer awareness in favor of the maintenance and protection of the vehicles, the market is considered to flourish.

The North American region exhibits the second-largest position across the globe. The U.S is considered to be the largest market in this region owing to the augmenting demand for passenger cars in the country.

Europe is another significant region in the global automotive coatings market owing to the presence of countries such as the U.K., Germany, France, Belgium, and Italy. This region is a prominent market for automotive coatings as the majority of the key players have production facilities in the region.

Automotive Coatings Market Table Of Contents to be Continue…...,

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Joined: April 9th, 2019
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