Recent report Published by Research Nester titled “Automotive Coating Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global automotive coating market in terms of market segmentation by product type, technology type, application type, end use type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global automotive coating market is segmented by resin type, technology type, application type and substrate type. On the basis of resin type, the market is segmented into polyurethane, epoxy & acrylic. On the basis of technology type, the market is categorized into water-borne, solvent-borne, powder coating and UV-cured. On the basis of substrate type, the market is sub segmented into metal, plastic, glass and composite. On the basis of application type, the market is segmented into automotive OEM and automotive refinish.
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The global automotive coating market is anticipated to record a CAGR of 7% over the forecast period i.e. 2019-2027 owing to expansion in automotive industry and increasing development in automotive coating industry. The rise in requirement of UV radiation protection, temperature protection and improved vehicle durability is expected to increase coatings’ demand. The water borne segment is expected to have leading shares during the forecast period on the back of reduced volatile organic component content coupled with enhanced chemical properties and improved curing. The powdered coating segment is expected to witness significant growth on the back of durability and longevity coupled with resistance to chipping, fading and scratches. The automotive OEM is anticipated to have leading market shares during the forecast period on the back of increased demand for the OEMs globally.
Asia- Pacific is anticipated to witness leading market shares during the forecast period on the back of expansion in automotive industry in the region. Increase in the disposable income coupled with improvement in road infrastructure and rise in preference for personal conveyance are expected to boost the market growth. Additionally, relocation of manufacturing centers of many firms for instance, Nissan, Hyundai, Fiat, Audi, Volkswagen and many more to China is expected to result in market growth in the region. North America is anticipated to have significant growth followed by Europe owing to large consumer base.
The chemical properties of various additives for instance, resistant to UV radiation, resistance to corrosion, improved vehicle life coupled with new technological advancements are expected to drive the market growth. However, increasing raw material prices and associated manufacturing costs are expected to operate as key restraints to the growth of global automotive coating market over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global automotive coating market which includes company profiling of PPG Industries, Axalta Coating Systems, BASF SE, The Sherwin Williams Company, Akzonobel NV and many more.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive coating market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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