logo
logo
Sign in

Global Automotive Coatings Market Value Estimated at $13.3 Billion by End of 2018

avatar
Blessy Joy
Global Automotive Coatings Market Value Estimated at $13.3 Billion by End of 2018

Global Automotive Coatings Market Outlook
Globally, the demands of automobiles are increasing at a rapid pace owing to the incrementing disposable income and changing approach of people towards automotive as a need rather than a luxury. The regularly increasing density of automobiles is changing the competitive landscape for the industries associated with the automotive industry. The automotive coatings sector is multiplying huge profits owing to the flourishing automotive industry. As per the research report published by IndustryARC, the global automotive coatings market size was valued at $13,345 million as of 2018. Following the current trends, the global automotive coatings market growth is expected to rise at a compound annual growth rate (CAGR) of 7.30% during the forecast period of 2019 to 2025. The report covers Automotive Coatings Market size by type and applications, Automotive Coatings Market share by top 5 companies and also the market share by start-ups during the forecast period.

View Full Table Of Contents @

 https://www.industryarc.com/Research/Automotive-Coatings-Market-Research-500126

Report Price (Single User): US $3850

Global Automotive Coatings Market: Regional Analysis

As per the regional market viewpoint, APAC region grabbed the highest share in the global automotive coatings market in 2018. The region soaked 38% of the global automotive coatings market share as it is a leading manufacturing hub for the automotive industry. Numerous factories installed in the economy of India, China and Japan manufacture various automotive spare parts that are further transported to the automotive coatings factories, subsequently optimizing the global automotive coatings market scope. The demands are expected to shoot further owing to the middle-class income earner’s growing capability translating towards affordability of these paints.

Global Automotive Coatings Industry Analysis

Automotive coatings is an essential stage of a vehicle manufacturer. Polyurethane enamel paint among others is considered the most efficient paint in the electro-coat paint operation. Sparkling and grainy refinish coatings are done using metallic paints such as pearlescent paints. These paints are highly prevalent in the emerging alternative vehicles industry. The exponential growth in the electric vehicle segment of the automotive sector is one of the biggest driving factors for the automotive coatings market. According to the International Energy Agency, 1.1 million units of electric cars were sold globally with the global sales recorded increased by 54% compared to the preceding year. The same source estimated that the quantity of electric vehicles running on the road will touch 125 million by 2030. With the ambition executing towards a sustainable future, these anticipations are subjected to upsurge the automotive coatings market demands in the near future.

Global Automotive Coatings Market Trends

Exclusive OEM coatings are being developed by both established and niche companies. Some of these coatings are made using volatile organic compounds (VOC). The rising trend of applying organic materials to every possible product is driving the organic automotive coatings market. Innovations in the coatings industry will project considerate profits in the global automotive coatings market.
Another breakthrough in the coatings industry was the innovation of water-borne coating. These coatings virtue the ability to protect vehicles against severe weather, acid rain and UV radiations. Moreover, the application of such paints reduces the aging of cars tremendously. With such an influx of added benefits, the water-borne coating technology will drive exuberant profits in the automotive coatings market.

Talk to one of our sales representative about the full report by providing your details in the link below:
https://www.industryarc.com/support.php?id=500126

Global Automotive Coatings Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the automotive coatings market are BASF, AkzoNobel, PPG Industries, Axalta Coating Systems, Bayer, Sherwin-Williams, Beckers, Royal DSM, and Eastman Chemical.

Related Reports:

A. Automotive Refinish Coatings Market
https://www.industryarc.com/Report/11698/automotive-refinish-coatings-market.html

B. Automotive Paints and Coatings Market
https://www.industryarc.com/Research/Automotive-Paints-And-Coatings-Market-Research-503304

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

collect
0
avatar
Blessy Joy
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more