Press release
Automotive Chassis Dynamometer Market: Exploring Growth Drivers, Key Players and Emerging Trends
Automotive Chassis Dynamometer Market
Revving up with powerful growth, the global automotive coatings market is projected to reach $34.23 billion in 2029, driven by emerging trends and the advent of electrified and autonomous vehicles.
What Is The Projected Market Size Of The Global Automotive Coatings Market And Its Growth Rate?
• Historical Market Size (2024): $21.85 billion
• Forecast Market Size (2025): $23.69 billion with a compound annual growth rate (CAGR) of 8.4%
• Forecast growth can be attributed to factors such as automotive industry growth, environmental regulations, consumer preferences, Original Equipment Manufacturer (OEM) and aftermarket demand, and globalization of automotive trade
• Projected Market Size (2029): $34.23 billion with a CAGR of 9.6%
• Growth in the forecasted period can be attributed to electrification of vehicles, rising autonomous vehicles, economic market growth, rising urbanization, and rising disposable income
What Is Driving The Growth In The Automotive Coatings Market?
The automotive coatings market is witnessing significant growth with the surge in demand for lightweight vehicles. The emphasis on emission norms and the need for fuel consumption reduction have led to an increased preference for lightweight vehicles, thus boosting the coatings market. These coatings not only provide a protective layer against corrosion but also contribute to weight reduction. The Federal Reserve Economic Data noted that sales of lightweight vehicles, including autos and light trucks, rose to 15.002 million units in January 2024, reflecting a year-over-year growth of around 11.7%.
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Who Are the Key Players Driving Automotive Coatings Market Growth?
• The Valspar Corporation
• Solvay SA
• Sherwin-Williams Company
• Pittsburgh Plate Glass Company
• Nippon Paint Automotive Coatings Co. Ltd.
• Korea Chemical Co. Ltd
• Kansai Paint Co. Ltd.
• Arkema SA
• Eastman Chemical Co.
• Clariant AG
• Berger Paints India Limited
• Becker Industrial Coatings LLC
• BASF SE, Axalta Coating Systems Ltd.
• Akzo Nobel N.V
• The Sherwin-Williams Company
• Bollig & Kemper GmbH & Co.KG
• HMG Paints Limited
• Jotun India Pvt. Ltd.
• Shanghai Kinlita Chemical Co. Ltd.
• Carpoly Chemical Group Co. Ltd
• Kangnam Jevesco Co. Ltd.
• Mankiewicz India Private Limited, Shawcor Ltd.
• Samhwa Paints Industries Co. Ltd.
• Nihon Toksuhu Toryo Co. Ltd.
• National Paint Factories Pvt. Ltd.
• Teknos Coatings And Paints Private Limited
• Corporate Identification Number, Kelly-Moore Paints
• Hempel AS, Deutsche Amphibolin-Werke von Robert Murjahn Stiftung & Co KG
• Tiger Coatings GmbH & Co.
What Are The Key Trends In The Automotive Coatings Market?
• Waterborne coatings
• Advanced color customization
• Self-healing coatings
• Antimicrobial coatings
• UV-cured coatings
What Are The Segments Of The Global Automotive Coatings Market?
• By Coat Type: Clearcoat, Basecoat, E-Coat, Primer
• By Resin Type: Polyurethane, Epoxy, Acrylic
• By Technology: Waterborne Coatings, Solventborne Coatings, Powder coatings, UV-Cured Coatings
• By Substrate: Metal, Plastics
• By End-Use: Light Vehicle OEM, Commercial OEM, Automotive Refinish
Which Region Leads The Automotive Coatings Market?
Asia-Pacific marked its dominance in the automotive coatings market in the year 2024 and is expected to be the pace-setter in the forecast period. The report elaborates on market insights for regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Coatings Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Coatings Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Coatings Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Coatings Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Coatings Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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