Demand for Passenger Vehicle to Fuel the Global Automotive Paints & Coatings Market

According to a new market research report launched by Inkwood Research, the Global Automotive Paints & Coatings Market is growing at a CAGR of 4.83% during the forecasting years 2021-2028 and is evaluated to reach $12.10 billion by 2028.
Browse 94 market data Tables and 51 Figures spread over 248 Pages, along with in-depth analysis on the Global Automotive Paints & Coatings Market by Product Type, Vehicle Type, Texture Type, Coat Type, End-Users, & by Geography.
This insightful market research report by Inkwood Research focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. The report covers all the aspects of this comprehensive market by assessing major geographies, and is a valuable asset for the existing players, new entrants, and future investors. The study presents a detailed market analysis, with inputs derived from industry professionals across the value chain.

Global Automotive Paints & Coatings Market Scenario
Passenger vehicles are among the major segments in the automotive industry. Over the past few years, automobile sales have surged across emerging countries, such as China, India, and Brazil. For instance, China has become one of the world's largest car marketplaces in sales and manufacturing. Despite the decline in passenger vehicle sales due to the pandemic, the segment recovered quickly. Moreover, 2020 witnessed remarkable developments in passenger cars, resulting in their high demand among consumers. Therefore, the rising demand for passenger cars increases the demand for automotive paints and coatings, driving the overall market's development.
However, automotive paints and coatings need a high amount of raw materials, such as phthalic anhydride and aromatics, among others. These raw materials are derivatives of crude oil. Hence, volatile crude oil prices pose a risk for automotive paint and coatings producers, impeding the global market's growth.
The Global Automotive Paints & Coatings Market report provides data tables and includes charts and graphs for visual analysis.

Request Free Sample Report for Global Automotive Paints & Coatings Market by Product Type, Vehicle Type, Texture Type, Coat Type, End-Users, & by Geography: https://www.inkwoodresearch.com/reports/automotive-paints-and-coatings-market/#request-free-sample

Market Segmentation
Market by Product Type
• Solvent-Borne
• Water-Borne
• Other Coatings (Powder Coatings, etc.)
Market by Vehicle Type
• Passenger Vehicles
• Commercial Vehicles
o Heavy Commercial Vehicles
o Light Commercial Vehicles
• 2-Wheelers
Market by Texture Type
• Solid
• Metallic
• Pearlescent
• Other Texture Type
Market by Coat Type
• Base Coat
• Electro Coat
• Clear Coat
• Primer
Market by End-Users
• Original Equipment Manufacturers (OEM)
• Automotive Refinish

Report Highlights
- The report provides a detailed analysis of the current and future market trends to identify the investment opportunities
- Market forecasts till 2028, using estimated market values as the base numbers
- Key market trends across the business segments, regions, and countries
- Key developments and strategies observed in the market
- Market dynamics such as drivers, restraints, opportunities, and other trends
- In-depth company profiles of key players and upcoming prominent players
- Growth prospects among the emerging nations through 2028

Companies Profiled
• AKZO NOBEL NV
• AXALTA COATING SYSTEMS
• BASF SE
• BERGER PAINTS LTD
• CONCEPT PAINTS
• HMG PAINTS LTD
• KANSAI PAINT CO LTD
• KAPCI COATINGS
• KCC CORPORATION
• NATIONAL PAINTS FACTORIES CO LTD
• PPG INDUSTRIES INC
• RED SPOT PAINT
• RPM INTERNATIONAL INC
• SHERWIN-WILLIAMS
• VALSPAR CORPORATION

Related Reports
GLOBAL SMART COATINGS MARKET - The global smart coatings market is set to progress at a compound annual growth rate of 22.85% over the forecast period 2021-2028.
GLOBAL PAINTS & COATINGS MARKET - The global market for paints & coatings is expected to garner a CAGR of 6.22% during the forecasting years 2021 to 2028.

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This release was published on openPR.