Automotive Paint Market To Cross US$ 14 Bn In 2030

The arrival of enhanced paints and coating varieties is supporting the global sales of automotive paint. Apart from improving the external appearance of a vehicle, automotive paints also help in increasing the durability of the materials they are applied on. Clearcoat, basecoat, and primer paint are some of the common coating layers. Carmakers are utilizing automotive paint to increase the resistance of aluminium and metal components of vehicles. Automotive paints offer resistance against UV radiation, heat, dust particles, and acid rain. In addition, manufacturers are actively focusing of developing more advanced and efficient painting and coating technologies. The above-mentioned factors are expected to drive the growth of the global automotive paint market in the coming years, at a CAGR of around 5% through 2030.

To remain 'ahead' of your competitors, request for a samples@ https://www.persistencemarketresearch.com/samples/2840

Key Takeaways from Automotive Paint Market Study
• North America is expected to remain the largest market for automotive paint during the forecast period. This is primarily due to presence of leading market players and automotive manufacturers in the region.
• On the basis of coating, demand for electrocoat will remain significantly high throughout the projection period.
• Based on vehicle, the use of automotive paint will be relatively higher in compact passenger cars during the forecast period. This is mainly due to increasing global demand for such cars.
• On the basis of finish, preference for metallic paint finishing will be significantly high, with a market share of 40% in 2020.
• By paint base, solvent-borne paint base will outsell the water-borne variant during the assessment period.

For critical insights on this market, request for customization here @ https://www.persistencemarketresearch.com/request-customization/2840

What Does the Future Hold?
Expansion of the global auto industry in countries such as China, Brazil, and India is an additional factor that remains important in shaping the market dynamics going forward. Also, car manufacturers are increasingly adopting leading coating technologies such as thermal spray and powder coating, owing to their high functionality and efficiency. In recent years, focus has shifted towards the introduction of greener paint and coating products, as many international environmental organisations have been critical of automotive coatings and paints that emit harmful gases. Moreover, international bodies are setting guidelines on the use of chemical coatings and paints in the auto industry. Therefore, companies operating in the automotive paint market space are trying to develop and formulate products that are non-toxic and environmentally-viable.

Automotive Paint Market: Competition Landscape
Some of the top companies operating in the global automotive paint market landscape include The Valspar Corporation, Axalta Coating Systems Ltd., Clariant AG, Kansai Paint Co., Ltd, The Sherwin Williams Company, Akzo Nobel NV, BASF SE, DuPont Coatings & Color Technologies Group, and Nippon Paint Holdings Co Ltd.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/2840

Contact us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com

About us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.

This release was published on openPR.