Global outlook For Automotive coatings market Share, by application, 2017-2022
The global demand for Automotive Coatings Market is slated to rise in the next few years, with the growing macroeconomic conditions, especially across the emerging nations. The economic development along with uplifted living standards of the consumers have resulted in an increased production of vehicles, leaving a proportional impact on automotive coatings market. Asia Pacific is one lucrative belt that has been of late witnessing a huge influence on the overall industry dynamics, subject to an enormous development in the automotive sector. With some of the most progressive nations such as China, India, Japan, APAC automotive coatings market almost accounted for 50% of the global share in 2014 and is projected to grow over 5.5% CAGR over 2015-2022.
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Speaking of technology, powder coating market is gaining popularity over solvent borne coatings, due to high VOC content in the latter. Extensive application of powder coatings in engine and accessories, dashboard, battery tray, luggage racks, and even as a basecoat for external body is complementing the business landscape. Basecoat dominated the product segment in 2014, accounting for almost 40% of the overall automotive coatings market.
Some of the attributing features of powder coating which are favoring the market expansion include high efficiency, easy customization, durability, minimum wastage, and easy application. As per estimates, powder automotive coatings market is projected to witness maximum growth in the years ahead, with expectations to reach USD 3.5 billion by 2022. However, mandatory initiatives taken by REACH, EPA pertaining to environmental concerns over VOC content is providing a negative impact on automotive coatings market growth in Europe and North America. Solvent borne coatings market is likely to witness moderate growth in the coming time frame with a projected CAGR of 4% over 2015-2022.
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APAC, majorly driven by China is set to register growth by 2022. Latin America, led by Brazil market segment, is projected to foresee substantial growth in the next few years. MEA market segment is anticipated to experience average gains over the predicted time frame.
Sample Table of Content for Automotive Coating Market:
Automotive Coatings Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2012 - 2022
3.3 Industry Ecosystem analysis
3.3.1 Vendor matrix
3.4 Raw material trends
3.5 Technology trends
3.6 Regulatory trends
3.7 Industry impact forces
3.7.1 Growth drivers
18.104.22.168 Growing automotive industry in Asia Pacific
22.214.171.124 Growing demand for powder coatings
3.7.2 Industry pitfalls and challenges
126.96.36.199 Fluctuating raw material prices
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 Company market share analysis, 2014
3.11 PESTEL analysis
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The report features the competitive landscape of the automotive coatings market. Key trends, company profiles, business strategies, finance metrics are listed in the report with market evaluation and forecasts. Major participants in the consolidated market include PPG Industries, BASF, Nippon Paint, Axalta Coating Systems, AkzoNobel, and Kansai Paints.
Sherwin-Williams, Berger Paints, KCC Paint, Arkema SA, Valspar Corporation, Beckers Group, Cabot Corporation, Clariant AG, Eastman Chemical Company, Lord Corporation, Solvay SA and DSM are other prominent names in the industry. BASF is expanding automotive coating production in Thailand.
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