Sales of automotive coatings totalled US$ 16.3 billion in FY 2021; it is predicted that they would increase by 4.3% annually in 2022 to reach US$ 17 billion. The market value of the industry is forecasted to be US$ 33.44 billion at the conclusion of the aforementioned period of assessment, growing at a CAGR of 7% from 2022 to 2032.
The world superpowers China, Russia, Germany, the U.S., the U.K., and others are chosen for a more complete analysis. The study delves into more detail regarding the markets for automotive coatings in the countries that are experiencing moderate development and a sharp fall in demand.
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How Increasing Number of Passenger Vehicles on the Road to Surge up the Sales of Automotive Coatings Market?
At a CAGR of 5.7%, the market for passenger cars is expected to grow in 2022. The commercial vehicle industry is expected to see a rise in demand for automotive coatings between 2022 and 2032 that will grow at a 5% CAGR.
The anticipated period is expected to see an increase in the number of passenger vehicles, which will probably present makers of automotive coatings with a lot of lucrative chances.
Key Companies Profiled
- 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.
The paper details the market’s unprecedently rapid expansion, which is being fueled by socioeconomic reasons, increased consumer spending power, and technological innovation. The research goes into great information about the present business climate of the Automotive Coatings demand in the top countries.
This international paper describes the tactics that support brand growth in the Automotive Coatings market. To assist market participants in selecting the best location and pertinent segment to invest in the future, high-risk elements such as cyberattack, fraud, natural disaster, and geopolitical conflicts affecting the region are researched.
- The study analyses the state of the latest worldwide Automotive Coatings market.
- The paper investigates the pandemic scenarios that are most likely to have a long-term impact on the sector.
- The paper examines in great detail how the world market for Automotive Coatings is changing.
- The research examines how the worldwide Automotive Coatings market is changing, the target markets with the greatest prospects, and emerging trends that could directly or indirectly affect your organisation.
- The report identifies prospects as well as the main obstacles you may face in the near future.
A thorough analysis of the entire market is made possible by the inclusion of granular segmentation by end-use, category, function, and geographic region in the global Automotive Coatings market report. Similarly, the existing and anticipated expansion of the Automotive Coatings business affects the market share of publications.
The research also includes profiles of the Automotive Coatings industry’s goods, sales, returns, competitive landscape, market structure, industry drivers, and key business challenges. The study calculates the market’s current growth rate, projected future growth, and the key drivers that will affect that growth in 2022. The research also anticipates sales for the years 2022 to 2032 and calculates the number of product sold from 2015 to 2020.
Automotive Coatings Market: Segmentation
- By Resin Type :
- Acrylics-based Automotive Coatings
- Fluoropolymers-based Automotive Coatings
- Urethanes-based Automotive Coatings
- Epoxy-based Automotive Coatings
- Poly Alkyds-based Automotive Coatings
- Amines-based Automotive Coatings
- By Vehicle Type :
- Passenger Cars
- Commercial Vehicles
- By Technology :
- Water Borne Automotive Coatings
- Solvent Borne Automotive Coatings
- UV Cure Automotive Coatings
- By Coat Type :
- Top Coat
- Base Coat
- Clear Coat
- By Region :
- North America
- Latin America
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The key business strategies discussed in this market research revolve around-
- How key players in the Automotive Coatings market are maintaining their competitive advantage in the wake of globalization?
- What changing dynamics in the Automotive Coatings industry specify about the future opportunities for manufacturers?
- How Covid-19 pandemic affected sales in the Automotive Coatings market and what strategies are expected to recover from its impact?
- What business tactics are gaining attention and influencing Automotive Coatings market rivalry?
- What is the current Automotive Coatings market share?
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