Press release
CAGR 5.5% Analysis and Future Outlook of Global Automotive Coatings Market by 2023
Automotive Coatings Market
Automotive coatings are applied to automobiles to improve their aesthetics, toughness, and resilience to a variety of environmental conditions like rust, UV rays, and temperature changes. Automobile coatings extend the lifespan of the vehicles while also enhancing their appearance and protecting them from the elements.
Market Overview:
The global automotive coatings market is projected to reach USD 35.82 billion by 2023, growing at a CAGR of 5.5% during the forecast period. The growing demand for automobiles, rising environmental awareness, and the increasing need for vehicle maintenance and repair are the major factors driving the growth of the automotive coatings market.
Click on the link for sample report: https://www.persistencemarketresearch.com/samples/3790
Metals make up more than 80% of the components in passenger cars. The majority of these metals are coated to prevent rust and deterioration. The worldwide automotive coatings market is seeing development prospects due to the emergence of UV curing coating. The automotive coatings industry can be divided into Original Equipment Manufacturing (OEM) and aftermarket or refinish based on application.
The major end-users of the automotive refinish market are collision repair centers and automotive body shops. Based on product segments, the global automotive coatings market can be divided into four categories: electro-coats, primer coats, basecoats, and clear-coats. Based on formulation, this market can be classified into four categories: water-based, solvent-based, powder-based, and UV-based coatings.
Brazil, Russia, India, and China (BRIC countries) are expected to be the major countries contributing to the growth of the automotive industry. Improving economies, advancements in the road infrastructure, and increasing inclination of individuals towards personal conveyance are the key factors augmenting the growth of the automotive industry.
According to the Organization Internationale des Constructeurs d'Automobiles (OICA), the global motor vehicle production increased from 77.6 million in 2010 to 87.3 million in 2013. The increasing raw material prices are emerging as a major challenge for the automotive coatings market as the profit margins of the coatings manufacturers are reducing.
Leading producers of titanium dioxide (one of the common pigments used in the manufacturing of coatings), such as Kronos, Inc., Tronox Limited, and E. I. du Pont de Nemours and Company, announced a price increase of USD 300/tons, USD 400/tons, and USD 500/tons respectively in 2011 in Asia Pacific. Their American and European counterparts also announced the increase in prices from the same year.
North America was the third-largest vehicle producer globally in 2013, after Asia Pacific and Europe, and it is in the process of bypassing Europe to become the second-largest vehicle producer in the world by 2020. The automotive coatings market in Europe has suffered due to the Euro zone crisis which impacted the automotive industry heavily.
Click on the link for customized report: https://www.persistencemarketresearch.com/request-customization/3790
The market for eco-friendly coatings, such as waterborne and powder coating, are growing at a high rate owing to the growing government and public concern regarding the environmental hazards posed by solvent-borne coatings.
Several environmental agencies and governmental institutions have formulated regulations and issued guidelines to minimize the use of high Volatile Organic Compound (VOC) automotive coatings. The Asia Pacific automotive coatings market is dominated by China and India due to the large fleet of vehicles in the countries.
The key automotive coatings players include BASF, AkzoNobel, PPG Industries, Axalta Coating Systems, Bayer, Sherwin-Williams, Beckers, Royal DSM, and Eastman Chemical. Most of the key players in the automotive coatings industry are U.S.- and Germany-based.
This report covers a thorough analysis of:
• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain
Regional analysis includes:
• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)
Report highlights:
• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint
Click on the link to pre-book the report: https://www.persistencemarketresearch.com/checkout/3790
Related Reports -
Azo Pigments Market: https://www.persistencemarketresearch.com/market-research/azo-pigments-market.asp
Ultramarine Pigments Market: https://www.persistencemarketresearch.com/market-research/ultramarine-pigments-market.asp
High Velocity Oxygen Fuel Hvof Tungsten Carbide Wc Coatings Market: https://www.persistencemarketresearch.com/market-research/high-velocity-oxygen-fuel-hvof-tungsten-carbide-wc-coatings-market.asp
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:
The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release CAGR 5.5% Analysis and Future Outlook of Global Automotive Coatings Market by 2023 here
News-ID: 2944488 • Views: …
More Releases from Persistence Market Research
Anime Market Set to Grow Significantly, Reaching USD 54.1 Billion by 2031 Amid R …
The global anime market has evolved far beyond traditional television broadcasts to become a multifaceted entertainment ecosystem. Driven by digital transformation, streaming services, and cross-media collaborations, anime has expanded its footprint globally, appealing to diverse audiences across age groups. Anime now extends into gaming, merchandising, licensing, and international film distribution, creating multiple revenue streams beyond conventional formats.
According to market projections, the anime market is expected to grow from US$31.9 billion…
Artificial Intelligence as a Service Market Forecasted to Grow at 34.6% CAGR, Re …
The Artificial Intelligence as a Service (AIaaS) market has emerged as one of the most transformative segments in the global technology ecosystem. By providing AI capabilities on a subscription or pay-per-use model, AIaaS allows organizations to deploy advanced AI functionalities without the need for significant in-house infrastructure. This model has democratized access to AI, enabling small and medium-sized enterprises to leverage predictive analytics, natural language processing, and machine learning tools…
Server Operating System Market Anticipated to Witness Robust Growth, Reaching US …
The server operating system market is witnessing robust growth, driven by the rapid expansion of data centers and the surging adoption of cloud technologies across enterprises worldwide. Server operating systems form the backbone of modern IT infrastructure, enabling organizations to efficiently manage hardware resources, deploy applications, and maintain high levels of system reliability and security. As businesses increasingly migrate to cloud environments and data-intensive operations grow, demand for powerful, scalable,…
Manufacturing Operations Management Software Industry Anticipated to Witness Rap …
The Manufacturing Operations Management (MOM) software market is rapidly emerging as a cornerstone of digital transformation in the manufacturing sector. As industries increasingly adopt Industry 4.0 practices, the need for advanced solutions that integrate production planning, real-time monitoring, quality control, and process optimization has surged. MOM software enables manufacturers to streamline operations, reduce production downtime, and improve overall efficiency, making it an indispensable tool across automotive, pharmaceutical, aerospace, and consumer…
More Releases for Euro
Free Euro 2024 Sweepstake Generator
Birmingham, 22nd May - Exciting news for football fans! Clevercherry, a leading creative and digital agency, is thrilled to relaunch their famous sweepstake generator, just in time for Euro 2024.
The agency, known for working with clients such as West Midlands Police, Ducati, and Subaru, and renowned for their World Cup sweepstake generator in 2022, has recently relaunched their sweepstake generator for Euro 2024. This tool was developed in-house by their…
Euro Ophthalmology 2019
The 2nd European Congress on Ophthalmology going to be held amid March 21-22, 2018 at Amsterdam, The Netherlands, which unites a one of a kind and worldwide blend of substantial and medium pharmaceutical, biotech and symptomatic or diagnostic organizations, leading universities and clinical research companies making the meeting an ideal stage to share understanding, encourage coordinated efforts crosswise over industry and the scholarly community, and assess rising advancements over the…
17th Euro Biotechnology Congress
Conference Series LLC extends its warm welcome to 17th Euro Biotechnology Congress during September 25-27, 2017 at Berlin, Germany with a theme “Novel Trends and Innovations in Biotechnology for Making Life Better”. Conference Series LLC through its Open Access Initiative is committed to make genuine and reliable contributions to the scientific community.
Scope and Importance
Euro Biotechnology Conference aims to bring together the Professors, Researchers, scientists, business giants, and technocrats to provide…
Euro Façade Tech Glazing Systems
Virtually any type of glazing system can be used with structural glass facades. Check out the options with Euro Façade Tech.
FRAMED
Framed systems support the glass continuously along two or four sides. There are many variations of framed systems, most of which fall into two general categories. Conventional unitized curtainwall systems are seldom used with structural glass facades.
STICK
Stick-built glass facades are a method of curtainwall construction where much of the fabrication…
Traveltext's alternative Euro 2016
You don’t even have to be a sports fan to know that this summer, the England football team will be heading off to the latest major international tournament with the hopes of a nation resting on the shoulders of the likes of Wayne Rooney, Jamie Vardy and Dele Alli.
The fact that the tournament has expanded this year to include no fewer than 24 nations means that the eyes of Europe…
Euro Coin Exchange Announces Director of New UK Office; Launches Euro-Coins-For- …
Atlanta, GA -- Euro Coin Exchange, the leading buyer of euro coins in the U.S., announced the appointment of Christian Rayner as Director of the company’s U.K. operations. The announcement accompanied the opening of the company’s new coin processing center in the Thames Valley, near London, serving customers throughout the U.K. Initially, the U.K. office will exchange euro coins and banknotes for pounds exclusively.
Kenneth Mitteldorf, the founder of Euro Coin…
