Infinium Global Research has added a new report on Automotive Refinish Coatings Market. The report presents analysis of global as well as regional markets of automotive refinish coatings market over the period of 2018 to 2024. Automotive refinish coating market are used in automobiles for protection against external factors such as extreme temperature, stones, damage due to accidents and similar others. Automotive refinish coatings are used by the automotive body shops and repair centers for refinishing the vehicles. They are mainly used to enhance the appearance and durability of vehicle by protecting them from external factors such as temperature and UV radiation is an essential requirement.
Car accidents, car smash and accidental car bumps during the parking are the common problems owing to which car’s body and paint is damaged. Thus collision repair and auto painting has to be done in order to remove dents and scratches from the cars. Also, many consumers are emotionally attached with their cars and do, timely repair and maintainence of their cars. These aformetnioned factors are responsible for driving the growth of the market. In addition, adoption of rising disposable income in the developing economies is boosting the growth of passenger vehicles which in turn turn to benefit the automotive refinish coatings market. However, increasing government regulations on the utilization of high volatile organic compounds (VOC) level coatings is likely to restrain the growth of the automotive refinish coatings market. Furthermore, development of eco-friendly technologies and increase in number of car owners and car rentals are anticipated to create several growth opportunities for the key players in the automotive refinish coatings market over the years to come.
Among the geographies, North America dominated the automotive refinish coatings market followed by the Asia Pacific region. The growth in the North American regions is due to tendency of owners to undertake timely repairs of their vehicles and high disposable incomes is encouraging the automotive refinish coating market in the North America regions. Moreover, the growth in the Asia Pacific region is due to high demand for refinishing coatings in the developing countries such as India and china. On the other hand, China holds a dominant position in the used vehicle market and has high expansion rate and thus requires the refinish coats to refurbish the cars. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global automotive refinish coatings market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2018 and estimated for forecast period of 2018-2024.
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The recent report identified that North America dominated the global automotive refinish coatings market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the automotive refinish coatings market worldwide.
The report segments the global automotive refinish coatings market on the basis of Product Type and Technology .
Global Automotive Refinish Coatings Market by Product Type
· Base Coat
· Clear Coat
Global Automotive Refinish Coatings Market by Technology
· Solvent Borne Coatings
· Water Borne Coatings
Companies Profiled in the Report
· The Valspar Corporation
· Sherwin-Williams Company
· PPG Industries
· Nippon Paint Holdings Co. Ltd
· Donglai Coating Technology
· KANSAI PAINT CO., LTD
· BASF SE
· Axalta Coating Systems
· Akzo Nobel N.V
About Infinium Global Research
Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.
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