Automotive Paints - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Automotive Paints Market is accounted for $8.09 billion in 2017 and is expected to reach $11.55 billion by 2026 growing at a CAGR of 4.0% during the forecast period. Increasing vehicle production, rising production volumes of passenger and commercial vehicles, expansion in automotive refinished market and rising demand for carbon footprint technologies are some factors fuelling the market. However, decreasing paint wastage throughout the paint production, huge cost of raw materials are restricting the growth of the market. Strict government regulations regarding growing environmental awareness is one of the major opportunities for the growth of the automotive paints market.
Automotive Paint imparts a decent surface and rich appearance to the interior and also exterior parts of the vehicle. Apart from enhancing the aesthetical appearance of the vehicle, paint likewise shields the vehicle from corrosive downpours, UV beams, oxidization, and consumption. The quality and consistency of the automotive paint and the rich feel that the paint grants to the vehicle is an eye- catching highlight which assumes an vital part in attracting consumers toward the vehicle. Automotive paint comprises a pigment, thinner, and a binder. Most vehicle paint structure, as of now, contain a preliminary coat, trailed by a layer of paint and after that a final clear coat for accomplishing a decent and consistent finish over the surface of the vehicle.
By resin type, polyurethane segment is driven by its wide use in clearcoat and basecoat. It is preferred in clearcoat and basecoat layers suitable to its outstanding weather, corrosion, and mechanical resistance. The utilization of the polyurethane has mostly appeared as a requirement to distinguish products to facilitate changeable performance.
Based on geography, Asia Pacific commanded the largest market share during the forecast period owing to the rising vehicle production and the tough occurrence of well-established vehicle manufacturers in few countries of Asia Pacific such as China, Japan, and South Korea.
Some of the key players in the automotive paints market include 3M, Akzonobel, Axalta, ASF, Covestro, DOW Chemical, Kansai, KCC, Nippon Paint, PPG, Sherwin Williams, Solvay, alspar, Berger Paints and Beckers Group.
Painting Equipment Types Covered:
• Electrostatic Spray Gun
• Airless Spray Gun
Paint Types Covered:
• Metallic Paint
• Nonmetallic Paint
• Other Paint Types
• Powder Coating
• Solar Reflective Paints
• Matte Finish Paints
• Solid Texture
• Metallic Texture
• Pearlescent Paints
Resin Types Covered:
• Other Resins
Vehicle Types Covered:
• Passenger Car
• Light Commercial Vehicle
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
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