A recently compiled report of Fact.MR, titled “Automotive Coatings Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018-2027,” gives a comprehensive analysis on the automotive coatings market worldwide. Size of the automotive coatings market has been evaluated for the historical period (2013-2017) and forecast period (2018-2027), and has been delivered in terms of value (US$ Bn) and volume (tons). The report also offers a detailed analysis and forecast on key segments and the competitive landscape of the automotive coatings market.
The car painting industry has witnessed tremendous changes through materials and processes development championed by the evolution of manufacturing technology from the beginning of the 20th century until today. The emergence of mass production demanding better film performance with respect to corrosion and durability of colors; faster curing paints; enhanced environmental compatibility and thorough automated processes for excellent reliability signify the essential milestones in car painting industry.
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Lethal chemicals and additives have been tested exhaustively during the last three decades. Several products have been scrapped either by legislation or by the car manufacturers. Accordingly, worthwhile steps have been made by the introduction of waterborne base coat. The use of waterborne coating has contributed immensely to the reduction of solvent emissions in automotive OEM coating. According to the study, close to 6 in 10 tons of automotive coating sold worldwide were waterborne coating in 2018 itself.
Solvent-borne Coatings Currently in Demand Despite Concerns
Demand for solvent borne automotive coatings is expected to increase at a comparatively higher rate than water-borne coatings in 2018, despite rising environmental and health concerns associated with these variants. Relative preference for solvent-borne solutions is hinged on the fact that these automotive coatings retain the bond between pigments liquid and binding agents. However, substantial efforts being taken to curtail or eliminate emissions at the time of hardening owing to environmental and health concerns allude a decline in future demand for solvent-borne automotive coatings.
Automotive Coatings Market: Overview
The report offers a robust assessment on the automotive coatings market which is propelled by quantitative and qualitative analysis. In addition, the report focuses on the situation in the market that have significant influence on the development of the automotive coatings market, including drivers, trends, opportunities, restraints. The report also delineates segmentation of the market to provide a thorough analysis of the automotive coatings market.
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The report incorporates executive summary followed by overview section which showcase a coherent assessment of the automotive coatings market. Moreover, the market overview section peruses on PESTLE analysis to provide a thorough analysis on the automotive coatings market. Furthermore, the overview section also delves into Porters’ Five Force analysis which historically help in assessing competitive landscape with respect to automotive coatings market.
Automotive Coatings Market: Competitive Landscape
The coherent assessment of competitive scenario of the automotive coatings market is propelled by assessment of Porters’ Five Force Analysis. Moreover, the Porters’ Five Force Analysis throws light on the feasible strategies of the major players who are active in the automotive coatings market. Meanwhile, the report also shed light on SWOT analysis, company profile, product portfolio, recent development and key differentiation.
Key players profiled in the report include Nippon Paint (USA), Benjamin Moore & Co., Behr Process Corp., Kansai Paint Co. Ltd., BASF Coatings, Axalta Coating Systems, Nippon Paint Holdings Co., RPM International Inc., The Sherwin-Williams Co., AkzoNobel, and PPG.
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