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Automotive Coatings Market Global Analysis, Growth Trends, Share Report, Industry Size and Key Players: BASF SE, Kansai Paint Co., Ltd., Jotun, PPG Industries, Inc., Arkema SA and etc
Automotive Coatings Market
Automotive Coatings Market is looking forward to robust growth and is projected to attain nearly USD 25 Billion by the end of 2023, unveils Market Research Future (MRFR) in a detailed research report. The move towards the development of light-weight vehicles and low-temperature curing are driving the global automotive coatings market.
Various factors have supported the growth of the global automotive coatings market. The rise in the number of global car sales purveyed by rising disposable income, especially in the developing countries is a primary factor contributing towards market growth. Low cost of financing and cheaper fuel price has also increased the degree of vehicle ownership in emerging markets.
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Automotive Coatings Market Key Players:
The prominent players in the global automotive coatings market include BASF SE (Germany), Kansai Paint Co., Ltd. (Japan), Jotun (Norway), PPG Industries, Inc. (U.S.), Arkema SA (France), Clariant (Switzerland), Cabot Corporation (U.S.), Bayer AG (Germany), Axalta Coating Systems (U.S.), Akzo Nobel N.V. (Netherlands), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), Berger Paints India Limited (India), Koninklijke DSM N.V. (Netherlands), and The Sherwin-Williams Company (U.S.).
Automotive Coatings Market Segmentation:
Automotive coatings market has been segmented based on product, substrate, technology, and resin type. By product, the market has been segmented into primer, basecoat, electro-coat, and clear coat, and others. By substrate, the market has been segmented into metal, plastics, composites, and others. By technology, the market has been segmented into water-borne, solvent-borne, powder, and radiation curable. By resin type, the market has been segmented into polyurethane, epoxy, automotive, and others.
Automotive Coatings Market Regional Analysis:
Automotive coatings market spans across the regions of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific is leading the global automotive coatings market since Asia Pacific has been taking an increasing share of global vehicles sales. Fast GDP growth rise of the middle class and replacement of old vehicles in the region support the growth of the market in APAC. India, Japan, South Korea, China, and Malaysia are the key contributors to the APAC automotive coatings market. North America is the second largest market for automotive coatings.
The US is the largest consuming market for automotive coatings, and high sales of vehicles, especially luxury cars in the region favour the growth of the automotive coatings market. Europe is another profitable market for automotive coatings. Majority of automotive manufacturers have their manufacturing base in Europe which makes Europe a worthwhile market. The U.K., France, Germany, Italy, and Belgium are the major contributors to the Europe automotive coatings market. The Middle East & Africa market is expected to exhibit substantial growth over the forecast period due to improving economy and increasing industrialization in the region.
Automotive Coatings Market Table of Content to be Continue…...,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/automotive-coatings-market-1754
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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