Press release
Growing: Huge Revenue generation in the Global Automotive Underbody Coatings Market
Automotive Underbody Coatings Market
The Asia Pacific region is projected to dominate the global automotive underbody coatings market in terms of revenue share throughout the forecast period, owing to the increasingly growing automobile industry in countries such as Australia, India, and China.
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Key Segment Findings of the Market:
The report segments the global automotive underbody coatings market by Product, Applications, End Users, and Region.
• Based on product, the market is segmented into electrocoat, primer, clear coat, and base coat. Of these the electrocoat segment is estimated to subjugate the global market by 2027 mainly because it is eco-friendly and has better resistance to corrosion.
• Based on applications, the market is classified into metal and plastic. Of these, the metal application is projected to lead the global market in terms of revenue share owing to its benefits such as greater longevity, enhanced color accuracy, usability, and versatility.
• Based on end-users, the market is categorized into commercial OEM, automotive refinish, and light vehicle OEM. Of these, light vehicle OEM is expected to hold the majority of share in the global market. This is mainly because light vehicle OEM changes the market attitude towards environmental safety, improved longevity, and overall performance.
• Regionally, the North America automotive underbody coatings market is anticipated to grow at the fastest pace by 2027, majorly due to the stringent environmental regulations and increasing investments in the automobile industry in the region.
Market Dynamics
Check out How COVID-19 impact on the Automotive Underbody Coatings Market @ https://www.researchdive.com/connect-to-analyst/391
The increasing demand for commercial vehicles and passenger cars has resulted in increased production of automotive across the globe. This is the major factor expected to propel the growth of the global automotive underbody coatings market during the forecast period. Besides, the strict regulations and growing environmental concerns are projected to expand innovation in the global market by 2027. Furthermore, the growing demand for powder coatings are likely to create massive growth opportunities for the global industry in the coming years. Conversely, the fluctuation in the prices of raw materials such as pigments, resins, and other active ingredients is expected to hinder the market growth.
Prominent Market Players
The major players operating in the global automotive underbody coatings industry include 3M Co., Henkel AG & Co., Akzo Nobel N.V., Sika AG, Sherwin-Williams Co., Mallard Creek Polymers Inc., Henry Company LLC, Covestro AG, PPG Industries Inc., and Daubert Chemical Company. Further, the report sketches various aspects of all these market players such as product portfolio, SWOT analysis, financial performance, and recent strategic moves & developments.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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