This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies
Automotive coatings is a type of layer on automobiles that provides both protection and decoration. There are several coating processes among which the polyurethane enamel paint, which is also a water-based acrylic coat, can be seen as gaining traction in the market as its environmental impact is much lesser than the rest. The global automotive coatings market can thrive on these features and make good grounds in the coming years.
The automotive coating industry is all set to benefit from the growing number of automotive sales and increase in the sale of luxury cars that require top-class coatings for a better protection against UV rays as well. There are several other factors like growing investment for the research and development sector to find out better innovative products, high performance from manufacturers who are eager to make an impact on the market with sizeable revenue, healthy competition among players, which increases the potential for better market ingress, and others can be considered as remarkable market contributors.
There are several other features that can hold back the global automotive coating market. Growing implementation of stringent regulations to make sure that coatings do not leave adverse impact on environment can be a market deterrent. Also, the economic slowdown in various regions can be considered as major market arrester. However, there are other factors like better participation from new entrants that can ensure better understanding of the market.
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The following manufacturers are covered:
Axalta Coating Systems
Eastman Chemical Company
The study on the automotive coating market can be conducted on the basis of type and application. These tow features have factors ingrained that can impact the market in the coming years. Also, the market report is expected to make good assumptions on the basis of value-wise and volume-based analysis.
By type, the market report on automotive coatings can be segmented into primer, electrocoat, basecoat, and clearcoat.
By application, the market studies light vehicle OEM, commercial vehicle OEM, automotive refinish, and others for a better grio over the automotive coatings market.
Europe is expected to make substantial profit from the automotive coating industry as the region has a superlative automotive industry. Italy, France, Germany, and the UK are making substantial contribution as they have robust automotive industries to back up the automotive coatings market. North America is expected to make similar kind of profit as the regional market is witnessing a revamping process in the automotive industry. The Asia Pacific region is all set to make ground-breaking advancements owing to the huge possibilities shown by the regional market that is luring in foreign automotive players and investors to get the market go thriving.
In September 2019, Altana announced that the company is all set to take over the international wing of the Office Color Science Co. Ltd., a company that operates from Yokohama, Japan. The business will be a part of the BYK division of the Altana Group and would be marketed by BYK-Gardener V/R Solutions. OCS is known for its extensive contribution in the paint & coating industry that also has control over the automotive sector.
Release ID: 88926517