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Asia Pacific Automotive Coatings Market To Witness Significant Growth Rate To 2024

Author : Ronak Bora | Published Date : 2019-05-10 

Asia Pacific automotive industry growth is the major driving factor for the rise in automotive coatings market. Recent infrastructural developments including road connectivity, coupled with growing PPP of emerging countries of East and South East Asia will have a positive impact on the market in the next few years. China controls over a quarter of the global automotive market, both in terms of demand as well as supply.

Asia Pacific, driven by China, India, and Japan, is a significant consumer region with over 50% of the global automotive coatings market size. This dominance is on the account of developing infrastructure and increasing purchasing power of the people of the emerging countries.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/107

Global Market Insights, Inc. has released a new study based report on the Global Automotive Coatings Market size, projected to hit USD 28.3 billion by 2022. The report is a comprehensive analysis of market size and growth prospects. It offers strategic analysis of the factors influencing the market, including drivers, impediments, challenges and opportunities and emerging industry trends.

Growing consumer preference to enhance the aesthetic appeal and durability is expected to drive the demand. Moreover, growing demand to protect the vehicle from acid rain, UV radiation, foreign particles and extreme temperature conditions is likely to further the market size. Vehicle manufacturers are now focusing on producing aesthetically appealing vehicles. This further boosts the industry growth.

Solventborne automotive coatings market size predicted to experience sluggish growth due to strict norms over VOC emission in the atmosphere. The waterborne segment is tipped to exhibit high gains at above 5% in the next few years. The growth is attributed to factors like low flammability, air emission reduction, and less toxicity.

The majority of the materials used in passenger cars is metallic. The coating is essential to protect them from degradation and rust. The report segments the automotive coatings market trends by application, product, technology, end-use, and region.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/107

APAC, majorly driven by China is set to register growth by 2022. Latin America, led by Brazil market segment, is projected to foresee substantial growth in the next few years. MEA market segment is anticipated to experience average gains over the predicted time frame.

The report features the competitive landscape of the automotive coatings market. Key trends, company profiles, business strategies, finance metrics are listed in the report with market evaluation and forecasts. Major participants in the consolidated market include PPG Industries, BASF, Nippon Paint, Axalta Coating Systems, AkzoNobel, and Kansai Paints.

Sherwin-Williams, Berger Paints, KCC Paint, Arkema SA, Valspar Corporation, Beckers Group, Cabot Corporation, Clariant AG, Eastman Chemical Company, Lord Corporation, Solvay SA and DSM are other prominent names in the industry. BASF is expanding automotive coating production in Thailand.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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