DUBLIN, Nov. 16, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/px2tqg/world_automotive) has announced the addition of the "World Automotive Refinish Coatings Market - Opportunities and Forecast, 2014 - 2020" report to their offering.
The global market for automotive refinish coatings would be worth $11.3 billion by 2021 and shall grow at a CAGR of 6.3% during 2015-2021. Solvent-borne refinish coating technology segment currently accounts for about half of the revenue; however, by 2020, water-borne refinish coating revenues would match-up to solvent-borne segment.
Continuous adoption of newer technologies, rising disposable income and growing consolidation of used vehicle market would be the prime factors for automotive refinish Coatings market growth. Moreover, increasing road accidents, vehicle customization (especially in China, India and Brazil) and growing trend of recreational vehicles are supplementing the overall market growth. However, environmental hazards related to toxic waste produced from solvent-borne refinish coatings and price volatility of raw materials would hinder the growth of the global automotive refinish coatings market.
Within different product categories, basecoat refinish coating segment would remain the largest market with about 33.0% revenue in 2014. Polyurethane would be the largest resin segment, both in terms of volume and revenue, in 2014. The key reason driving the growth of polyurethane segment is its characteristic as a foam that assists manufacturers to make automotive seating, which can be assembled, disassembled and recycled.
Key findings of the study:
- The Asia Pacific and North American regions collectively held about 62% of the overall automotive refinish Coatings market revenue in 2014 - The water-borne coating segment is expected to grow at the fastest rate - In 2014, base coat and clearcoat collectively accounted for more than half of the overall refinish Coatings market revenue.
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Global Automotive Refinish Coating Market By Technology
Chapter 5 Global Automotive Refinish Coating Market, By Resin Type
Chapter 6 Global Automotive Refinish Coatings Market, By Coat Type
Chapter 7 Global Automotive Refinish Coating Market, By Geography
Chapter 8 Automotive Refinish Product Portfolio Of Major Players
Chapter 9 Company Profiles
- Atlas Copco - Ebara Corp. - Elgi Equipments Ltd. - Ingersoll Rand Inc. - Kirloskar Pneumatic Company Ltd. - Kobe steel - LLC - Mitsubishi Heavy Industries Ltd. - Sullair - Sulzer Ltd. - VMAC
For more information visit http://www.researchandmarkets.com/research/px2tqg/world_automotive
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SOURCE Research and Markets