AUTOMOTIVE COATING MARKET TO REACH USD 28.4 BILLION BY 2027 | CAGR 6.2% – FORENCIS RESEARCH

Automotive Coating Market - Global Industry Analysis and Forecast 2020 to 2027

Global Automotive Coating Market: Key Highlights

  • According to the new market research report Automotive Coating Market by Product (Primer, Electrocoat, Basecoat, Clearcoat), by Technology (Waterborne Coating, Solventborne Coating, Powder Coating, UV-curved Coating), by Application (Metal Parts, Plastic Parts), by End-use (Light Vehicle OEM, Commercial Vehicle OEM, Automotive Refinish), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global Automotive Coating market is estimated to reach USD 28.4 Billion by 2027 at a CAGR of around 6.2% during the review period.
  • Automotive coatings are the coatings which are used for both protection as well as decoration purpose on various parts of the automobile.
  • They help to enhance the appearance and durability of the automobiles and also protect damages from harsh environment condition such as extremely high temperature, chemicals, and other foreign particles.
  • Automotive coatings are used for repair and maintenance purpose as they have excellent weather resistance, exceptional color, and gloss retention, outstanding oil, chemicals, water, and scratch resistance.

Automotive Coating Market

Global Automotive Coating Market: Key Market Dynamics

  • Growing demand for waterborne technology owing to its environmental benefits has expected to drive the growth of the automotive coating market during the forecasted period.
  • Increasing demand from emerging nations has anticipated to drive the growth of the product market.
  • Volatility of raw material price has expected to pose a major challenge for the growth of automotive coatings market.

Request Sample PDF of Global Automotive Coating Market:

https://www.forencisresearch.com/automotive-coating-market-sample-pdf/

Global Automotive Coating Market: Regional Overview

  • Europe

North America is anticipated to witness steady growth in the automotive coating market during the forecasted period. This has attributed to increasing vehicle manufacturing in countries such as Italy, France, Sweden, Germany, and the Czech Republic. According to the European Automobile Manufacturers Association (ACEA), the 18.5 million unit motor vehicles were produced in 2019. Moreover, the growing population coupled with rising income levels has anticipated to further fuel the demand over the forecast period.

  • Asia-Pacific

Asia-Pacific is anticipated to dominate the automotive coating market during the forecasted period owing to increasing vehicle manufacturing in the region. Increasing sales of pre-owned vehicles, growing cab services, and increasing vehicle repair and body shops in emerging countries are also likely to boost the demand for automotive coatings. Moreover, the relocation of manufacturing bases by companies such as Volkswagen, Audi, Honda, Nissan, Toyota, Hyundai, Skoda, and Fiat to China owing to the availability of affordable workforce is anticipated to drive the market demand.

Global Automotive Coating Market: Key Players Overview

  • BASF SE:

BASF SE is a German-based company engaged in manufacturing and distributing specialty chemical. The company broadly operates through Chemical, Materials, Industrial Solution, Surface Technologies, Nutrition & Care, and Agriculture Solution business segment. The coating division of BASF is one of the experts in development, production, and marketing of innovative and sustainable automotive OEM and refinish coating, decorative paints as well as applied surface treatments. In June 2020, BASF SE and Guangzhou Automobile Group New Energy Co. Ltd. (GACNE), a subsidiary of GAC, signed an agreement to strengthen strategic partnership to explore digital coating solution for the automotive industry. This partnership will improve product quality.

  • PPG Industries, Inc.:

PPG Industries, Inc. is one of the leading coatings company which is engaged in consistently delivering high-quality, innovative and sustainable solutions to customers. The company has strong manufacturing facilities across the globe with the presence of 156 manufacturing facilities. PPG Industries Inc generated revenue of USD 15.1 billion in 2019. In January 2020, the company acquired Industria Chimica Reggiana (ICR) S.p.A., a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries. This acquisition will help to enhance the product offerings for automotive refinish and light industrial coatings industries.  

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.

Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

Contact Us:

FORENCIS RESEARCH

USA
Aurora
CO 80014

Phone:+1 (720) 306 9020

Email:sales@forencisresearch.com

Website: www.forencisresearch.com

Rep Id : CM 0136

Published : 2020-08-21

Related Reports