Press release
Largely used in passenger cars due to the increased investment Drive The Growth of Automotive Refinish Coatings Market
Asia Pacific excluding Japan holds significant market potential in the automotive refinish coatings market, owing to the expansion of manufacturing facilities in parallel to increasing vehicle fleet in the region. North America and Western Europe will continue to remain a lucrative market throughout the period of forecast owing to the fact that these regions are automotive production hubs and have a high number of vehicles in comparison to other regions.
Request for more (TOC And Sample): https://www.futuremarketinsights.com/reports/sample/rep-gb-413
With the changing customer structure, mergers across value chain to develop interregional solutions for the customers is a key strategy of major players to enhance market share and customer base. Adoption of latest technologies such as water-based products and UV cure-based coatings, will also remain a key growth determinant for the automotive refinish coatings market.
The report envisages that the passenger cars in vehicles will hold bulk shares and will play a crucial role in building market revenue during the period of forecast. The increasing per capita income of individuals and the growing automotive sectors are the two reasons driving the demand for passenger cars.
The base coat and top coat in products offer a resistance against chemicals and is expected to grow during the forecast period with their pleasing appearance. The first coat applied in refinish coatings is base coat, and thus this segment is anticipated to dominate the worldwide market for automotive refinish coatings.
The water borne coatings offer numerous advantages and can also cover a given area with a relatively smaller amount of product when compared with solvent borne coatings. Along with exhibiting low toxicity and VOC content, the water borne coatings possess good resistance to abrasion and heat. Additionally, water borne coatings are recyclable, i.e. unused coatings can be used again. However, owing to low VOC emissions, water borne coatings would gain its share of application over solvent borne coatings and will continue to witness a significant demand in the automotive refinish coatings market.
The acrylics are produced by polymerizing methacrylic acid or acrylic acid, and is used in solvent applied inks, lacquers, adhesives and specialty coatings. The acrylic resins can be thermoplastic and can be used in organic solvent borne, water borne and radiation curable coatings. Therefore, with the increasing demand for water borne coatings, the acrylics segment will be a preferred type of material for automotive refinish coatings in terms of volume.
Aftermarket provides cheaper products which can be used as an alternative in place of the products provided by OEM. Globally, there is an increase in individual investment for vehicle repair and refinish in a short period of time. Hence, the demand for automotive refinish coatings in the aftermarket segment is expected to grow significantly during the forecast period. Sales growth in aftermarket can be attributed to the growing interest of people towards vehicle customization and aesthetics.
Get Report Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-413
Major players involved in the automotive refinish coatings market are stressing on collaborations, partnerships and joint ventures in order to develop their operational efficiency. Axalta Coatings Systems in 2016 acquired Michigan-based United Paint and Chemical Corporation in order to enable transportation coatings business to move into the vehicle interior coatings market, which provided the company to offer complete range of coating systems. Some of the players reported in this study on the global automotive refinish coatings market are Axalta Coatings Systems LLC, 3M, Akzo Nobel N.V., HMG Paints Limited Covestro AG, and many more.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
CONTACT:
Future Market Insights
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Largely used in passenger cars due to the increased investment Drive The Growth of Automotive Refinish Coatings Market here
News-ID: 1336410 • Views: …
More Releases from Future Market Insights
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,…
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry…
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033.
The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable…
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute…
More Releases for FMI
According to FMI, Condition Monitoring Services Will Reach 6.79 Billion USD: FMI
The global condition monitoring service market is anticipated to exceed US$ 3.52 Bn by the end of 2022. Growing emphasis on the integration of condition monitoring software with computerized process control services and maintenance management software is expected to favour the growth in the market.
The demand in the condition monitoring service global market is estimated to reach US$ 6.79 Bn by 2031, exhibiting growth at a CAGR of 9.8% during…
Medication Dispenser Market Forecast and Analysis by FMI
According to Wikipedia, medication or pill dispenser is an equipment which releases medication at specified time. In simple language, an equipment gives a signal when the time comes to take the medicine. The purpose is to help senior citizens or people who may suffer from impaired ability to adhere to their prescribed medication regime. The device automatically releases the pre-measured dose into a small compartment that is easily opened and…
Printing Paper Market Intelligence and Forecast by FMI
Global printing paper market: Introduction
The global paper industry is undergoing rapid transformation and plays significant role in the global packaging industry. In addition to manufacturing of packaging products such as corrugated boxes, paperboards or envelopes, papers are also used for the production of printing paper for printing purposes. Printing paper market is anticipated to grow on the backdrop of packaging industry, printing industry, and as well as e-commerce industry…
Pharmaceutical Solvent Market Forecast and Prospectus : FMI Research
Global Market for Pharmaceutical Solvents Projected to Witness Sluggish Growth
A majority of medicines & drugs produced in the world are derived from formulating Active Pharmaceutical Ingredients (API), and such processes require alcoholic solvents such as ethanol, isopropanol, propanol and propylene glycol.
Production of pharmaceutical solvents continues to be concentrated in the Asia-Pacific excluding Japan (APEJ) region as leading API suppliers and drug manufacturers in the world have based their production units…
Temperature Controlled Packaging Solutions Market Analysis : FMI
While North America will continue to be the most attractive market, the temperature controlled packaging solutions market in Asia Pacific excluding Japan (APEJ) will witness steady gains.
According to a comprehensive analysis on the global temperature controlled packaging solutions market by Future Market Insights, companies seeking thermally-regulated packaging solutions for unhampered delivery of their products will continue to opt for insulated containers, with chest-type containers accounting for significant demand. However, during…
Force Sensor Market Share, Value, Trends : FMI Report
Continuous adoption of force sensors as human-machine interface is projected to pave new business opportunities for force sensor manufacturers among various industries such as music & entertainment. In addition, surging implementation of various ICT technologies in healthcare, and rising necessity to improve quality of healthcare services are further expected to offer growth opportunities to developers of force sensing technology. Future Market insights (FMI), in its report, projects the global market…
