Automotive Coatings Market Overview:
Automotive Coatings Market is looking forward to robust growth and is projected to attain nearly USD 25 Billion by the end of 2023, unveils Market Research Future (MRFR) in a detailed research report. The move towards the development of light-weight vehicles and low-temperature curing are driving the global automotive coatings market.
Automotive Coatings Market Key Players:
The prominent players in the global automotive coatings market include;
• BASF SE (Germany)
• Kansai Paint Co., Ltd. (Japan)
• Jotun (Norway)
• PPG Industries, Inc. (U.S)
• Arkema SA (France)
• Clariant (Switzerland)
• Cabot Corporation (U.S)
• Bayer AG (Germany)
• Axalta Coating Systems (U.S)
• Akzo Nobel N.V. (Netherlands)
• Nippon Paint Holdings Co., Ltd. (Japan)
• The Valspar Corporation (U.S)
• Berger Paints India Limited (India)
• Koninklijke DSM N.V. (Netherlands)
• The Sherwin-Williams Company (U.S)
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Automotive Coatings Industry Updates:
In September 2018 - BASF, German chemicals, and specialty materials unveiled a new modular lab for automotive coatings in Munster, Germany. The new lab would assist car makers in Europe in development of new coating solutions.
In August 2018 - Ferrari, the Italian luxury sports car maker, has come up with a new low-bake automotive coating technology in partnership with PPG, an American supplier of paints, coatings, and specialty materials. The two-component paint system allows the car to be baked which enhances the paint's toughness to water and other contaminants.
Automotive Coatings Market Segmentation:
Automotive coatings market has been segmented based on product, substrate, technology, and resin type. By product, the market has been segmented into primer, basecoat, electro-coat, and clear coat, and others. By substrate, the market has been segmented into metal, plastics, composites, and others. By technology, the market has been segmented into water-borne, solvent-borne, powder, and radiation curable. By resin type, the market has been segmented into polyurethane, epoxy, automotive, and others.
Automotive Coatings Market Regional Analysis:
Automotive coatings market spans across the regions of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific is leading the global automotive coatings market since Asia Pacific has been taking an increasing share of global vehicles sales. Fast GDP growth rise of the middle class and replacement of old vehicles in the region support the growth of the market in APAC. India, Japan, South Korea, China, and Malaysia are the key contributors to the APAC automotive coatings market.
North America is the second largest market for automotive coatings. The US is the largest consuming market for automotive coatings, and high sales of vehicles, especially luxury cars in the region favor the growth of the automotive coatings market. Europe is another profitable market for automotive coatings. Majority of automotive manufacturers have their manufacturing base in Europe which makes Europe a worthwhile market.
Automotive Coatings Market Table of Content to be Continue…...,
Complete Table of Content is Available at @ https://www.marketresearchfuture.com/reports/automotive-coatings-market-1754
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