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Automotive Coatings Market to Hit US$28bn by 2022 | Industry Analysis Report By Major Key players: Axalta, PPG Industries, Bayer, Valspar, AkzoNobel, Sherwin-Williams, Arkema, Cabot Corporation, Clariant, Eastman Chemical Company, Jotun, LORD Corporation,
U.S. Automotive Coatings Market size, by technology, 2012 - 2022 (USD million)
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Vehicle production in the country recorded a volume of over 23.7 million units in 2014, while around 23.5 million vehicles were sold in the same year. Japan and India followed with sales of over 5.5 million and 3 million vehicles respectively in 2014. Attractive and protective coatings are gaining popularity for protecting the vehicles from corrosion or decolorization due to harmful ultraviolet rays, atmospheric acidity, highly inconsistent climate, extreme temperature variation, etc. while enhancing the aesthetic features.
Automotive Coatings Market By End-Use
• Light Vehicle OEM
• Commercial OEM
• Automotive Refinish
Automotive Coatings Market By Application
• Metal
• Plastic
Automotive Coatings Market By Technology
• Waterborne
• Solventborne
• UV-Cured
• Powder Coatings
Automotive Coatings Market By Product
• Primer
• Electrocoat
• Basecoat
• Clearcoat
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Advancements in powder coating technology owing to the high volatile organic compound (VOC) content in solventborne coatings will also have a positive influence on the global automotive coatings market. Superior features of powder coatings include easy customization, high efficiency, durability, easy application, and minimum wastage. Increasing application of this technology in primer and basecoat for external body, engine and accessories, interior parts such as steering wheels, dashboard, ashtray, battery tray, luggage racks, etc. will catalyze the global automotive coatings market in the next eight years.
EPA and REACH regulations pertaining to the VOC amount in solventborne coatings will hamper the automotive coatings market growth in North America and Europe. Powder, UV-cured, and waterborne coatings may, however, substitute solventborne coatings in these regions in the upcoming years. Global automotive coatings market will also be restrained due to fluctuating prices of the raw materials for the coatings production which includes titanium oxide, binders, pigments, additives, and resins.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Axalta
2. BASF
3. PPG Industries
4. Kansai Paint Private Limited
5. Nippon Paint (Pakistan) (Pvt) Ltd
6. Bayer
7. KCC Corporation
8. Valspar
9. AkzoNobel
10. Sherwin-Williams
11. Arkema
12. Beckers Group
13. Berger Paints India
14. Cabot Corporation
15. Clariant
16. Eastman Chemical Company
17. Jotun
18. LORD Corporation
19. DSM
20. Solvay
Browse key industry insights from the report, “Automotive Coatings Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-coatings-market-report
Solventborne automotive coatings market led the global share accounting to more than USD 7.9 billion in 2014. However, it is losing share to other technologies such as waterborne and powder coatings because of its high VOC content and strict environmental regulations imposed by EPA, REACH, and other regulatory bodies against it.
Basecoat is estimated to hold sway the product segments for providing the desirable color and effects on the vehicle body. In 2014, it registered more than USD 8 billion and is expected to have the fastest growth rate. It is followed by electrocoat type which was valued over USD 4 billion in 2014.
On account of abundance of metal parts in a standard automobile, metal based application accounted for over 70% of the global automotive coatings market share and was valued at over USD 13 billion in 2014.
Light weight OEMs are the largest end-user segment with more than 40% of the overall automotive coatings market share as light-weight personal cars are prevailing the global automotive market. It accounted for more than USD 7.5 billion in 2014 and is expected to have a healthy growth on the account of increasing personal cars demand.
Asia Pacific, driven by China, India, and Japan, is a significant consumer region with over 50% of the global automotive coatings market size. This dominance is on the account of developing infrastructure and increasing purchasing power of the people of the emerging countries.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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