Automotive Paints & Coatings Market Global Growth, Opportunities, Industry Analysis & Forecast to 2025

May 10, 2019

Market Study Report LLC adds global Automotive Paints & Coatings market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.

Selbyville, Delaware - May 10, 2019 /MarketersMedia/ —

Major automotive paints & coatings market players include Eastman, Nippon Paints Holdings Co. Ltd., Cabot Corp, Covestro, Dupont, PPG Industries Inc, and BAFS SE. The other notable participants are Axaltra Coating Systems, Donglai Coating Technology, Akzo Nobel NV, Wanda refinish, Valspar, and Clariant AG. Product portfolio expansion is among the key strategies adopted by industry players to enhance their business share in the automotive paints & coatings market. For instance, in February 2018 BASF SE launched its upgraded refinish coating products that are manufactured with certified biomass balance approach.

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Rising automobile sales along with increasing consumer preference towards improved vehicle aesthetics of vehicles are driving the automotive paints & coatings market over the study timeframe. The benefits offered by the paints including protection to the vehicle base material from corrosion along with improved finishes further expands the market. Additionally, the proliferating vehicle customization alternatives based on color and graphic schemes further accelerates the business share.

Advancements in paint technologies including anti-finger print paint finishes, anti-glare coatings, transparent protective coatings and superior UV protection are boosting the market over the projected timeframe. Moreover, increasing adoption of dual coat technologies offering improved corrosion resistance along with smooth surface finish, thereby providing a positive outlook for the market expansion over the study timeframe.

Clear coat automotive paints & coatings market will showcase considerable growth owing to benefits offered by this coat in protecting primer and base coats from adverse environmental conditions. The clear coat is non pigmented and offers superior mirror finish and glossy appearance to the vehicles. Additionally, the coat is also mixed with UV blockers to protect the base coat from harmful sun rays that fades the paint. Industry participants are continuously upgrading their portfolio for improving their market share. For instance, in March 2017, BASF, Covestro, and Audi announced the development of an advanced combining technology, that efficiently produces higher quality and eco-friendly clearcoat finishes.

Water-borne paint technology will account for a considerable share in the automotive paints & coatings market. The benefits offered by the water-borne technology including reduced toxic materials content along with stringent regulations pertaining to reduction of VOC emission from painting process will support the market growth. Moreover, the improved durability along with higher corrosion resistance further expands the segment share from 2019 to 2025.

OEMs will hold dominance in the automotive paints & coatings market over the forecast timeframe. The dominance can be credited to the increasing vehicle production across the globe. Automotive manufactures are focusing on offering environment friendly and durable products with a wide range of color options. The automotive suppliers are expanding their paint shop network to support the higher vehicle production. For instance, in October 2017, Magna announced the construction of a new USD 100 million paint shop in Slovenia.

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Europe will showcase significant growth in automotive paints & coatings market owing to stringent vehicle paint regulations. The limiting usage of VOC based paints and development of wide water-borne paints and coatings are boosting the product penetration across the region. Moreover, the presence of multiple automobile OEMs focusing on offering a wide range of vehicles with diversified paint schemes at varied costs further accelerates the regional share over the study timeframe.

Table of Content:

Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Automotive Paints & Coatings Industry Insights
Chapter 4. Automotive Paints & Coatings Market, By Project
Chapter 5. Automotive Paints & Coatings Market, By End Use
Chapter 6. Automotive Paints & Coatings Market, By Region
Chapter 7. Company Profiles

Complete report titled at: https://www.marketstudyreport.com/reports/automotive-paints-coatings-market

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Source URL: https://marketersmedia.com/automotive-paints-coatings-market-global-growth-opportunities-industry-analysis-forecast-to-2025/510928

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Release ID: 510928

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