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Automotive Refinish Coatings Market

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Automotive refinish coatings market to be driven by increasing number of vehicle accidents, rapid expansion in the market for used vehicles, and overall rise in the emphasis of vehicle owners on well-maintained vehicles
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REPORT DESCRIPTION
Transparency Market Research Reports incorporated a definite business overview and investigation inclines on “Automotive
Refinish Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” This
report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and
worldwide business sector industry structure.
Global Automotive Refinish Coatings Market: Overview
Excellence in optical appearance, durability, and cost efficiency are the most desirable attributes of the automotive refinish
coatings market. Demand for automotive refinish coatings is expected to rise significantly in the near future owing to the
increasing number of vehicle accidents, rapid expansion in the market for used vehicles, and overall rise in the emphasis of
vehicle owners on well-maintained vehicles. Besides these, issues such as extreme temperatures could also cause automotive
paint to wear out, necessitating the application of a fresh coat of paint.
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The market for automotive refinish coatings features a bevy of products, ranging from coatings especially formulated for
collision repair to those meant for improving the look and appearance of a vehicle. After a rough patch resulting from a slump in
vehicle sales during the global recession between 2008 and 2012, the market for automotive refinish coatings is on the growth
track again.
Vehicle sales have regained much lost ground in North America. However, the same cannot be said of the market in Europe.
The market in Asia Pacific stands the tallest currently, thanks to the surging sales of vehicles in many countries in Asia. India is a
key manufacturing and sales base for the global paints and coatings industry. The country is anticipated to also have a
noticeable impact on the growth of the automotive refinish coatings market in the near future.
How the future of the global automotive refinish coatings market shapes up would largely be determined by the current demand
and supply scenario as well as the regulatory landscape. The report assesses the global automotive refinish coatings market by
taking into consideration factors such as the overall size of the market in revenue terms, projected market size, largest and
fastest growing segment(s), and region-wise outlook of the market.
Global Automotive Refinish Coatings Market: Trends and Opportunities
The last few years have been characterized by a dramatic increase in the number of automotive repair centers and body shops
in developing countries. This has boosted the demand for automotive refinish coatings. Running counter to this trend, however,
is the increasingly strict regulatory scenario. Paints and coatings containing volatile organic compounds (VOCs) are being
stringently regulated, causing the number of products containing VOCs to dwindle. This trend, however, has caused companies
to shift their focus toward developing eco-friendly automotive refinish coatings that either have VOCs within permissible limits or
no VOCs at all.
A few leading players have gone a step ahead to launch automotive refinish coatings made entirely of recycled material to
reiterate their commitment to the environment. Furthermore, waterborne base coats, especially ones that help reduce solvent
emissions, are facing greater demand.
All of these trends collectively make the automotive refinish coatings market one where opportunities exist aplenty. With rising
sales of used vehicles, sales of automotive refinish coatings are forecast to rise substantially.
Global Automotive Refinish Coatings Market: Competitive Outlook
With numerous chemical industry behemoths having established a presence in the global automotive refinish coatings market,
competition is anything but mild. Add to that the increasing proclivity of vehicle owners to maintain their vehicles well coupled
with an increase in vehicle ownership numbers and it is easy to see why competition in this space will only spiral in the years
ahead. The presence of numerous local and regional brands only furthers the degree of competition.
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Companies in the global automotive refinish coatings market would have to contend with challenges relating to the high prices
of raw materials such as titanium dioxide, pigments, resins, and additives. However, a rise in the number of vehicle owners
claiming insurance for minor repairs and accidents is estimated to boost the automotive refinish coatings market.
Companies that hold an appreciable share in the automotive refinish coatings market include BASF SE, Mitsui Chemicals, Kansai
Paint Co. Ltd., PPG Industries, Inc., Sherwin Williams, Nippon Paints, and 3M Co.
This research report analyzes this market on the basis of its market segments, major geographies, and current
market trends. Geographies analyzed under this research report include
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North America
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Asia Pacific
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Europe
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Middle East and Africa
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Latin America
This report provides comprehensive analysis of
•
Market growth drivers
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Factors limiting market growth
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Current market trends
•
Market structure
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Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market
projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis
and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the
existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
•
This report provides pin-point analysis for changing competitive dynamics
•
It provides a forward looking perspective on different factors driving or restraining market growth
•
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
•
It helps in understanding the key product segments and their future
•
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
•
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of
market segments
•
It provides distinctive graphics and exemplified SWOT analysis of major market segments
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