DUBLIN, Apr. 19, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Automotive Coatings Market Analysis By Product (Primer, Electrocoat, Basecoat, Clearcoat), By Technology (Waterborne, Solventborne, Powder Coating, UV-Cured), By Application (Metal, Plastic), By End-Use, And Segment Forecasts, 2014 - 2025" report to their offering.
The global automotive coatings market is expected to reach USD 36.31 billion by 2025
Surging demand for both passenger and commercial automobiles in emerging countries including China, India, Mexico, Brazil, and South Africa on account of population growth and developing living standards is expected to augment market size over the forecast period. Moreover, increasing requirement of protection against harsh climate, dust, dirt, UV radiation, and acid rain is expected to aid in industry expansion.
Growing number of accident in countries including India and Brazil owing to adverse road conditions in mountainous areas is anticipated to fuel the demand for these products over the upcoming years. Moreover, increasing requirement of maintenance, repair, and refurbishing work of old vehicles is expected to stimulate growth.
Rising consumption of powder coatings in light of its superior properties, such as near zero volatile organic compound emissions and thicker layer compared to conventional coatings, is expected to increase market size. Furthermore, continuous investments by manufacturers along with increasing number of manufacturing facilities in Brazil and China will drive growth over the forecast period.
Further key findings from the report suggest:
- The global automotive coatings industry demand was 5,902.7 kilo tons in 2015 and is expected to grow significantly on account of increasing vehicle production in rapidly emerging countries including China, Japan, India, Mexico, Brazil, South Korea, Brazil, and South Africa
- Waterborne coatings market demand is anticipated to witness strong growth in light of stringent regulations pertaining to the usage of solvent borne technology. In addition, superior properties, such as corrosion resistance, flexibility, hardness, stain resistance, adhesion, low flammability, and toxicity, are expected to surge product demand over the next nine years.
- North America contributed to 22.7% of the overall revenue share in 2015 and is estimated to witness growth on account of rising demand for pickup trucks and utility vehicles in the region
- Central and South America is expected to see substantial revenue rise at a CAGR of 5.4% from 2016 to 2025 owing to increasing small car production in Brazil. Furthermore, large automobile manufacturers including General Motors, Volkswagen, and Hyundai have been shifting their base to the region owing to lower operation costs, which is likely to aid in market expansion.
- The industry is highly competitive in nature, and manufacturers are involved in continuous product development and R&D activities. Manufacturers including Axalta Coating Systems, PPG Industries, BASF, Nippon Paint, AkzoNobel, and Kansai Paint are some of the key players in the market.
- In April 2015, Axalta established a new R&D technology center in Shanghai to develop new products for the global commercial vehicle, light vehicle OEM, refinish and industrial customers
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. Automotive Coatings Market Variables, Trends & Scope
4. Automotive Coatings Market: Product Estimates & Trend Analysis
5. Automotive Coatings Market: Technology Estimates & Trend Analysis
6. Automotive Coatings Market: Application Estimates & Trend Analysis
7. Automotive Coatings Market: End-use Estimates & Trend Analysis
8. Automotive Coatings Market: Regional Estimates & Trend Analysis
9. Competitive Landscape
10. Company Profiles
- Axalta Coating Systems
- PPG Industries
- Kansai Paint
- Nippon Paint
- Bayer AG
- KCC Paint
- Valspar Corporation
- Sherwin-Williams Company
- Arkema SA
- Beckers Group
- Berger Paints
- Cabot Corporation
- Clariant AG
- Eastman Chemical Company
- Jotun A/S
- Lord Corporation
For more information about this report visit http://www.researchandmarkets.com/research/xwkmzt/automotive
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets