Automotive Coating Market - Basecoat Segment Leads 7% CAGR to 2021
PUNE, India, September 20, 2016 /PRNewswire/ --
The global automotive coating market size is to reach $16.24 billion by 2021 at a CAGR of 7.02% propelled by demand for different color & texture, enhancement of sales supportive policies, and increasing purchasing power parity (PPP) in emerging economies.
Complete report on global automotive coating market spread across 149 pages, profiling 10 companies and supported with 101 tables and 50 figures is now available at http://www.marketreportshub.com/automotive-coating-industry-research-marketsandmarkets.html.
Basecoat is the third layer applied to a car's body after e-coat and primer layer. Basecoat is the fastest-growing segment among all the coat type considered. The growth is high as new and innovative technologies are being developed by automotive coating manufacturers. For instance, in new integrated system, the primer layer is omitted and is replacing with two layers of basecoat. One layer of basecoat absorbs UV radiation and other is advanced basecoat. This kind of technological developments are expected to drive the basecoat segment in the automotive coating market.
Automotive coating makes use of various resins such as polyurethane, epoxy, acrylic, and others. These are the major in type considered in the report. Epoxy is projected to be the fastest-growing segment among them, in terms of volume, between 2016 and 2021. This growth is driven by increasing demand of this resin in water-borne and powder coating technologies. End-use industries are demanding environment friendly products as regulatory laws are becoming stringent. Hence, the growth of epoxy resin segment is projected to be high compare to other resins used in the automotive coating industry.
Asia-Pacific is the fastest-growing market for automotive coating, in terms of both value and volume. High economic growth rate, growing purchasing power, developing infrastructure, increasing demand from end-use industries, and global shift in production capacity from developed markets to emerging markets are the major factors leading to the growth of the automotive coating market in this region.
The key companies profiled in this market research report are BASF SE (Germany), Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), Kansai Paint Co., Ltd (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), KCC Corporation (South Korea), Sherwin-Williams (U.S.), AkzoNobel (Netherlands), and Jotun A/S (Norway). Order a copy of Automotive Coating Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Solvent-Borne, Water-Borne, Powder Coating), Coat Type (Clearcoat, Basecoat, Primer, E-Coat) - Global Forecast to 2021 research report at http://www.marketreportshub.com/purchase?rpid=4247.
In the process of determining and verifying, automotive coating market for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (40%), Tier 2 (35%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C Level Executives (55%), Director Level (25%) and others (20%) from various key organizations operating in the global automotive coating market. The primary interviews were conducted worldwide covering regions such as North America (35%), Europe (25%), Asia-Pacific (15%), South America (10%) and the Middle East & Africa (10%).
On a related note, another research on Heat Resistant Coating Market Global Forecast to 2021 says, automotive & transportation is the fastest-growing application for heat resistant coating. Rising demand in Asia-Pacific is the major driver of the heat resistant coating market. The global market is estimated to reach USD 6.16 billion by 2021, registering a CAGR of 5.11% between 2016 and 2021. Heat, corrosion & chemical resistant properties are to drive the heat resistant coating market. Companies like AkzoNobel N.V., Sherwin Williams Company, PPG Industries Inc., Axalta Coating Systems, Jotun A/S, Hempel A/S, Kansai Paints Co., Ltd, KCC Corporation, RPM International Inc. and Tikkurila OYJ have been profiled in this 181 pages research report available at http://www.marketreportshub.com/heat-resistant-coating-industry-research-marketsandmarkets.html
Explore more reports on materials & chemicals market at http://www.marketreportshub.com/categories/materials-chemicals.
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