Market Research Report
Automotive Paints & Coatings - Global Market Outlook (2017-2026)
|Automotive Paints & Coatings - Global Market Outlook (2017-2026)|
Published: May 1, 2019
Stratistics Market Research Consulting
Content info: 180 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Automotive Paints & Coatings Market is accounted for $19,112.56 million in 2017 and is expected to reach $28,159.40 million by 2026 growing at a CAGR of 4.3% during the forecast period. The major driving factors of automotive paints & coatings market are constant improvement in their property and functionality, increase the durability, presentation, and performance of end-products. However, difficulty in sourcing the raw material and volatile prices of raw material are restraining the automotive paints & coatings market.
Global Automotive Paints & Coatings play an important role in the automotive industry. They are not only used to enhance the appearance for the purpose of beautification of vehicles but also used as a preventive measure or protection layer for vehicles. It can protect the vehicles from corrosion, UV radiations, chemicals and many other damages. There is a constant increase in demand for special coatings used in fuel-efficient automotive and also growing demand from the automotive industry.
Based on technology, the water-based technology segment accounted for more share, in terms of volume. It find applications in automotive, interiors of coal cars, fly ash hoppers, plastic pellet hoppers, and the architectural sector, as they offer advantages such as less flammability, low emissions, and stable viscosity during printing. By Geography, Asia-Pacific is the largest market which is mainly backed by the expansion of the region's increasing household activities. Asia-Pacific is the fastest-growing paints & coatings market with most of the large manufacturers establishing their facilities in this region.
Some of the key players profiled in the Automotive Paints & Coatings market include Akzonobel N.V, Asian Paints Limited, Axalta Coating System LLC, Beckers Group, Berger Paints India Limited, Dunn-Edwards Corporation, Hempel A/S, Jotun A/S, Kansai Paints Co., Ltd, Masco Corporation, Nippon Paint Holdings Co., Ltd, PPG Industries, RPM International Inc, S K Kaken Co., Ltd, Shalimar Paints, Sherwin-Williams Company, Tikkurila OYJ and Valspar Corporation. .
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Table17 Global Automotive Paints & Coatings Market Outlook, By Epoxy Resin (2016-2026) ($MN)