What Factors Would Fuel Automotive Paints & Coatings Market Growth Through 2026?

The automotive paints and coatings market is expected to perform astonishingly over the forthcoming years owing to the rapidly increasing demand for passenger vehicles across the globe. Subsequently, the rising production of passenger vehicles throughout several emerging economies is slated to foster the industry’s revenue generation prowess further.

The key players operating in the automotive paints and coatings market are Akzo Nobel N.V., BASF SE., Covestro, The Valspar Corporation, Axalta Coating Systems, KCC Corporation, Clariant AG., Dupont, Eastman, Nippon Paint Holdings, PPG Industries, Inc., Donglai Coating, Wanda refinish.

These industry players are well-known for constantly focusing on the development of new products and taking multiple strategic initiatives to maintain their position in the overall business scape.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3243

According to a report published by Global Market Insights states that automotive paints & coatings market would exceed USD 16 billion valuation by 2026.

How are light commercial vehicles expected to influence the overall Automotive Paints & Coatings Market?

Light commercial vehicles are primarily used for transferring goods and mass which is measured in tons to distinguish between heavy and light commercial vehicles. The light commercial vehicle is slated grow at a healthy 3.5% CAGR over the projected time.

These vehicles have a maximum mass of 3.5 to 7 tons. According to the OICA (International Organization of Motor Vehicle Manufacturers), light commercial vehicles are characterized as special vehicles, which are defined by gross vehicle weight. Introduction of strict regulations by several governments pertaining to rising global oil prices, increased penetration of downsized engines, and VOCs emission are expected to further propel the market size for automotive paints and coatings.

What type of growth is the aftermarket automotive paints & coatings segment expected to witness by 2026?

The aftermarket segment will witness around 6% CAGR through the analysis timeframe. The constant moving of consumer focus towards more cost-effective products with improved quality as well as durability will fuel the demand for aftermarket sector over the projected period. Rising number of service centers and auto body shops for repairing automotive and refinishing services will further intensify product penetration.

Which factors would augment Europe Automotive Paints & Coatings Market sector growth?

Europe industry-scape is anticipated to hold approximately 15% of the overall market share by the end of the forecast time period. Automotive sales and vehicle registration are increasing at a steady pace in the region due to improving regional economy, effectively underlining customer confidence.

The industry players in the region are constantly focusing on investing in the development of new and improved paints as well as coatings products to address escalating customer demands. These activities are further expected to outline the growth graph of the regional market.

Ask For Customization According to COVID-19 Impact Analysis @ https://www.gminsights.com/roc/3243

Which coating type is forecast to shape the demand for automotive paints as well as coatings?

The basecoat segment reportedly surpassed USD 1.5 billion valuation back in 2019. Over the past couple of years, apart from durability, quality, as well as engine specification, color and texture of automobiles is also squaring up to be an important factor that influences the buying-decisions of customers.

This segment is specifically anticipated to expand over the projected timeframe because it is the sole paint type that consists of colors. While the thickness of these basecoats is minute, the value they add is considerable. This is because it encompasses the actual visual characteristics of color.

Table of Contents (ToC) of the report:

Chapter 1 Methodology and Scope
1.1 Market definition
1.2 Base estimation & working
1.2.1 North America
1.2.2 Europe
1.2.3 Asia Pacific
1.2.4 Latin America
1.2.5 Middle East & Africa
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources

Chapter 2 Automotive Paints & Coatings Market Summary

2.1 Automotive paints & coatings industry 3600 synopsis, 2016 - 2026
2.1.1 Business trends
2.1.2 Vehicle trends
2.1.3 Coating type trends
2.1.4 Technology trends
2.1.5 Texture trends
2.1.6 Distribution channel trends
2.1.7 Raw material trends

Chapter 3 Automotive Paints & Coatings Market Insights

3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Raw material supplier
3.2.2 Manufacturers
3.2.3 Profit margin analysis
3.2.4 Distribution channel analysis
3.2.4.1 Aftermarket
3.2.4.2 E-commerce
3.2.5 End-users
3.2.6 Value chain disruptions due to COVID-19
3.2.7 Vendor matrix

Get Complete Synopsis of the Report @ https://www.gminsights.com/toc/detail/automotive-paints-and-coatings-market

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights, Inc.
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.

This release was published on openPR.