Latin America Automotive Paints Market was Valued at US$ XX Mn in 2018, Favorable Economic and Political Scenario

Latin America Automotive Paints Market was Valued at US$ XX Mn in 2018, Favorable Economic and Political Scenario

“The Latin America Automotive Paints Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over next seven years 2019-2025 owing to favorable economic and political scenario”

The Latin America Automotive Paints market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors influencing the market growth include stringent emission regulations & environmental concerns, innovative paint technologies, changing buyer preferences, high growth in emerging economies and increasing demand of vehicles worldwide. In addition, favorable economic and political scenario in Latin America has encouraged automotive paints manufacturers to invest in this region, which is anticipated to propel the market growth in the forecast period. However, factors such as high prices of raw materials, reducing paint wastage during the paint production and environmental challenges are hampering the market growth.

Latin America Automotive Paints market segmented on the basis of basis of technology, resin type, texture, paint type, vehicle type and region.

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Metallic Texture Dominate the Latin America Automotive Paints Market
Based on the Texture, Latin America Automotive Paints market segmented into Solid Texture, Metallic Texture, Matte Finish Paints, Pearlescent Paints and Solar Reflective Paints. Metallic paints held considerable market share during predicted period. Growing demand for metallic paints is projected to surpass the solid texture paints demand due to the changed buyer preferences towards metallic colors and rise in sales of premium passenger cars.

Brazil Leads the Latin America Automotive Paints market

PBI’s Brazil Automotive Paints market report analyses the market in different countries such as Brazil, Mexico, Argentina, Venezuela and Rest of Latin America. Global sales of automotive paint is also increasing owing to rising production of vehicles coupled with robust growth of automotive sector in countries such as Brazil. In addition, growing trends of automotive restorations and refurbishing is likely to reflect favorably on the sales prospect of automotive paints in the aftermarket vertical.

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Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players

Latin America Automotive Paints market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, Nippon Paint, one of the leaders in the automotive paints market, has devised and developed a polarized paint, Maziora that changes color depending on the angle from which it is viewed or from where the light highlights it. The paint is suitably used to re-paint automobiles or as a high-design paint for new vehicles and designer racing cars.

Key player’s profiles in the report are 3M, Valspar (U.S), Solvay S.A (Belgium), Royal DSM NV (Netherlands), PPG Industries (U.S), Nippon (Japan), DuPont (U.S), Clariant Ag (Switzerland), Beckers (U.S), BASF SE (Germany), Axalta Coatings Systems (Germany) and Akzonobel NV (Netherlands).

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Precision Business Insights (PBI) in its report titled “Latin America Automotive Paints Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.

Detailed Segmentation

By Technology
o Waterborne
o Solvent-Borne
o Powder Coating
By Resin Type
o Epoxy
o Acrylic
o Polyurethane
o Other Resins
By Texture
o Solid Texture
o Metallic Texture
o Matte Finish Paints
o Pearlescent Paints
o Solar Reflective Paints
By Paint Type
o Primer
o Basecoat
o Electrocoat
o Clearcoat
By Vehicle Type
o Passenger Car
o Commercial Vehicle OEM
o Light Vehicle OEM
o Others
• Automotive Refinish (Aftermarket)
Geography
o Latin America
• Brazil
• Mexico
• Argentina
• Venezuela
• Rest of Latin America

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Precision Business Insights,

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Precision Business Insights,

Kemp House,
152 – 160 City Road,
London EC1V 2NX

This release was published on openPR.