Automotive Coatings Market Insights, Trends & Future Development Status Recorded during 2018-2023

The global automotive coatings market should reach $27.3 billion by 2023 from $22.8 billion in 2018 at a compound annual growth rate (CAGR) of 3.6% for the period 2018 to 2023.

Report Scope:

The scope of this report is broad and covers many different types of automotive coatings used globally on various types of vehicles. The market is broken down into major types of automotive coatings, by technology, by region, by layer and by car age. The market for automotive coatings is also estimated by layer, regional market and technology. Revenue forecasts for 2016-2022 are given for each type of automotive coating, technology, layer and regional market.

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The report also includes a discussion on major players in each regional market for automotive coatings. It explains the major market drivers for the global automotive coatings industry, current trends within the industry, major industry challenges and regional dynamics of the global automotive coatings market. The report concludes with a special focus on vendor landscape. It includes detailed profiles of major vendors in the automotive coatings industry and discusses market share of major players by automotive coating type.

Report Includes:

– 81 data tables
– An overview of the global market for automotive coatings
– Analyses of global market trends, with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Details on the technical and commercial aspects of various layers of automotive coating, and advantages of automotive coating technologies
– Identification of significant drivers of revenue growth in specific categories of the automotive coatings industry
– Information on the technological innovation, the environmental concerns and the regulatory pressures that are currently faced by coating suppliers
– Profiles of the major players in the industry, including AkzoNobel, BASF SE, Cabot Corp., HMG Paints Ltd., Nippon Paint Automotive Coatings Co. Ltd., RPM International Inc. and Sherwin-Williams Co.

Summary

A coating is a layer on the substrate that protects the substrate from the external environment and gives color and glossiness to the substrate. In addition, the coating provides safety from corrosion, ultraviolet (UV) light and temperature fluctuations. Automotive coating features such as scratch resistance, compatibility with any substrate and environmental friendliness fuel demand for automotive coatings.

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Although automotive coatings face threats from environmental issues such as volatile organic compound (VOC) and hazardous air pollutant (HAP) levels and increasing raw material prices, their market continues to grow with increasing demand from Asia Pacific, North American and other developing markets. The slow recovery of the European economy and that region’s automotive industry also is contributing to the growth.