MarkNtel Advisors recently published a detailed industry analysis of the Automotive Coatings Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Automotive Coatings Market (2024-2030)
The Global Automotive Coatings Market size was valued at USD 14.5 billion in 2023 and is projected to reach USD19.8 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.44% during the forecast period, i.e., 2024-30.
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What is driving the Automotive Coatings Market?
Extensive Utilization of Passenger Cars Uplifting Market Growth– In recent years, the requirement for automobiles has increased substantially owing to the expansion of ride-hailing services and inclination of the consumers towards cars for intercity & intracity travel. The tourism industry has grown significantly across the globe. This is attributed to the increased focus of various governments to boost the arrival of tourists. The increased tourist arrivals have resulted in higher demand for rental cars as they provide comfort to tourists and are cost-effective if compared to taxis. Hence, there is an increased usage of the passenger car fleet of the companies providing rental car services. Along with this, the consumers in the developed & developing countries are highly using the personal automotive vehicles for daily commuting purposes. This widespread usage of cars deteriorates their outer paint. As a result, consumers are ensuring that their cars undergo regular maintenance including consistent coating furnishing to maintain its aesthetic looks, positively impacting the demand for automotive coatings.
What segments define the Automotive Coatings Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Resin Type
(Acrylic, Polyurethane, Epoxy, Others (Saturated Polyester Resin, etc.)),
By Technology
(Water-Borne, Solvent-Borne, Powder Coating, UV-Cured Coatings),
By Product
(Primer, Electrocoat, Basecoat, Clearcoat),
By Application
(Plastic Parts, Metal Parts),
By End-User
(Automotive Body Shops and Repair Centers, Light Vehicle OEM, Commercial Vehicle OEM)
By Regions
North America, South America, Europe, The Middle East & Africa, Asia-Pacific
Explore the Complete Automotive Coatings Market Analysis Report – https://www.marknteladvisors.com/research-library/global-automotive-coatings-market.html
Who are the leading key players shaping the Automotive Coatings Market landscape?
BASF SE, Axalta Coating Systems, PPG Industries, Inc., Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., The Valspar Corporation, KCC Corporation, The Sherwin-Williams Company, Akzonobel N.V., Covestro AG, Arkema SA, Cabot Corporation, Clariant AG, Lord Corporation, Solvay S.A etc.
Questions Addressed in this Study
1.What factors are driving the Automotive Coatings Market growth?
2.How is the Automotive Coatings Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Automotive Coatings Market?
4.What is the current size of the Automotive Coatings Market, and how is it projected to change in the future?
6.What is the future outlook for the Automotive Coatings Market in terms of technological advancements and market expansion?
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