The global Automotive Coating market was valued at USD 11.69 billion in 2016 and is projected to reach USD 21.13 billion by 2025, growing at a CAGR of 6.8% from 2017 to 2025.
Automotive coatings demand is directly proportional to automotive sales. The growing sales in developing countries are providing industry participants with new areas to expand. The demand is expected to be high in developing countries. The increase in car customization is expected to have a positive impact on market demand.
Sample Infographics:
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Market Dynamics:
1. Market Drivers
1.1 Rise in automotive manufacturing in the Asia Pacific
1.2 Development of eco-friendly and low VOC coatings
2. Market Restraints
2.1 Stringent environment regulations
2.2 Changes in consumer demand
Market Segmentation:
The global Automotive Coatings market is segmented on the basis of resin type, technology, coat type, and region.
1. By Resin Type:
1.1 Acrylic
1.2 Epoxy
1.3 Polyurethane
1.4 Others
2. By Technology:
2.1 Waterborne
2.2 Solvent-borne
2.3 Powder Coating & Others
2.4 Other
3. By Coat Type:
3.1 Basecoat
3.2 Clearcoat
3.3 Primer
3.4 E-coat
4. By Region:
4.1 North America U.S., Canada, Mexico
4.2 Europe Germany, UK, France, Rest of Europe
4.3 Asia Pacific China, India, Japan, Rest of Asia Pacific
4.4 Latin America Brazil, Argentina, Rest of Latin America
4.5 the Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Jotun Paints
2. Axalta Coating System
3. BASF SE
4. The Valspar Corporation
5. AkzoNobel NV
6. KCC Corporation
7. Kansai Paint Co.
8. The Sherwin Williams Company
9. PPG Industries Inc.
10. Nippon Paint Holdings Co. Ltd.
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology of Planet Market Reports:
Research study on the Automotive Coatings market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also, market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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