Automotive Refinish Coatings Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Automotive Refinish Coatings Market by product type (primer, base coat, clear coat, activator, filler and others), technology (solvent borne, water borne and others), resin type (polyurethane, alkyd and acrylic) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Automotive Refinish Coatings Market it includes the five years Industry analysis and the 6 years annual forecast from 2017 to 2023. Some of the prominent participants in the Global Automotive Refinish Coatings Market are Axalta, BASF, Bernardo Ecenarro, Dulux, Helios, Sherwin Williams, Roberlo and Wounder-Tech.
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Asia Pacific has amassed the growth in automotive refinish coatings market
Asia pacific is expected to be the largest market in automotive refinishing coatings market owing to the estimated contribution leading for the development of automotive sector. Additionally, growing cab services and increasing vehicle repair and bodyshop is augmenting Asia pacific to be the largest region for the manufacture of the automotive refinish and coatings market. Moreover, growing demand for recreational vehicles in the developed regions of North America and Europe is anticipated to fuel the growth of the automotive refinish coatings market.. The growth of the automotive sector, developing middle class, and poor traffic conditions is anticipated to propel the automotive refinish coatings market in the Asia pacific region. Moreover, China holds a dominant position in the used vehicle market and has high expansion rate of car park, due to which the automotive refinish coatings market has flourished in the country.Furthermore, high disposable incomes and inclination of owners to accept timely repairs of their vehicles are among the key factors influencing the growth of the market in North America regions.
Automotive refinish coatings market to expand at a CAGR of 6.9%
Increasing vehicle sale and easy availability of auto loans is expected to drive the automotive refinish coatings market. Additionally, increasingdemand for premium and luxury cars is likely to expand the market growth in Asian economies. However, strict regulatory actions taken in North America region are expected to have negative impact for the demand of certain solvent based automotive refinish market over the upcoming years. Moreover, adoption of new technologies and rising disposal income in the developing economies is expected to enhance the growth of the automotive refinish coatings market said Mr.Omkar Harane a research analyst at Infinium global Research. Furthermore, timely maintenance and repairing of automotive vehiclesfrom the external factors such as temperature and ultraviolet radiations is an essential requirement. Moreover, increase in research and development activities and implementation of various programs is providing growth opportunities for the key players in the automotive refinish and coating market over the upcoming years.
Wide range of manufacturers contribute to the global automotive refinish coatings market
The leading companies identified in the market areAxalta Coating Systems, BASF SE, Kansai Paint Co. Ltd. A new manufacturing unit at Germany was set up by Axalta coatings systems to produce ecofriendly waterborne coatings. Moreover, rise in product extensions in terms of technology is expected to fuel the competitive environment in the next coming years. In addition, “skilled India” initiative undertaken by Indian government is anticipated to create more skilled workers, which in term is projected to supplement the aftermarket growth in the upcoming years. Likewise, ‘Directive 2004/42/EC’ of the European parliament has led to shifting the focus from solvent borne technology to waterborne technology on account of stringent environmental regulations leading to paint and coating manufacturers.The growing number of luxury brands, such as BMW, has boosted companies to shift their engineering plants to China due to lower labor cost and expenditures.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global automotive refinish coatings market such as, Autobody Products, Akzo Nobel, Axalta, BASF, Bernardo Ecenarro, Dulux, Helios, Sherwin Williams, Roberlo and Wounder-Tech.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global automotive refinish coatings market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of automotive refinish coatings market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive refinish coatings market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the automotive refinish coatings market to understand the present and future trends in this market and formulate their strategies accordingly.