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Home > News > Automotive Coatings Market 2019: Global Industry Current Trends, Application, Growth Factors, Development and Forecast to 2023 Research Report
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Automotive Coatings Market 2019: Global Industry Current Trends, Application, Growth Factors, Development and Forecast to 2023 Research Report

2019-06-18

360 Research Reports offers the latest published report on [Global Automotive Coatings Market – Segmented by Product Type, Application, and Geography – Growth, Trends and Forecasts (2019 – 2023)" delivering key insights and providing a competitive advantage to clients through a detailed report.

Global Automotive Coatings Market 2019-2023 considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align Automotive Coatings market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.



Overview of Automotive Coatings Market Report:

The global automotive coatings market is expected to register a moderate CAGR during 2019 to 2023, (the forecast period). Asia-Pacific accounted for the largest share, accounting to more than 35% of the global market in 2017, while North America is estimated to register the second-fastest CAGR through the forecast period, 2019-2023.


Rising Demand for Light Vehicles is a Driving Factor for OEM Coatings

The global automotive coatings market is primarily divided into two sub-markets – OEM coatings and refinish coatings. The OEM coatings segment dominated the global automotive market, with a share of more than 50% in 2017. The OEM market is driven by rising demand for light vehicles, primarily passenger cars. Increasing demand for passenger cars, primarily in Asia-pacific, is one of the major factor boosting the demand for OEM coatings. The increasing demand for bus coatings in various developed nations is another factor propelling the demand for OEM coatings.


Increasing Automotive Production in Asia-Pacific

In the automotive sector, coatings are used in interior as well as exterior parts of the vehicle, and they impart protection and appeal to vehicles. In Asia-Pacific, China is the largest producer of automobiles with more than 28 million vehicles (passenger and commercial vehicles combined) produced in 2016. Used car sales have also grown significantly in China. In 2016, the exponential growth of 14.5% in automotive production, over 2015, is one of the major driving factors augmenting the automotive coatings market. Countries, such as Thailand, Singapore, and Malaysia, have seen a slower growth rate in automotive production in 2016.


Demand from Asia-Pacific to Expand at a Fast Rate

Increasing production in China, India, and other ASEAN countries, is likely to propel the demand for automotive coatings at a high rate. North America is likely to dominate the refinish coatings market, followed by Europe. Asia-Pacific is expected to expand at a healthy rate in the automotive refinish coatings market.




Important factors that are mentioned in the Automotive Coatings Market report 2023-

Key Market Dynamics: The Global Automotive Coatings Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in a huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.

Major Growth Prospects: The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.

Key Market Highlights: The report gives us an in-depth Market analysis on some of the Automotive Coatings Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.


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