Automotive Coatings Market Analysis, Share, Regional Outlook, Industry Trends, Competitive Strategies And Segment Forecast, 2012 To 2022embed
Global automotive coatings market size is expected to reach 5.5 million tons by 2022, growing at a CAGR of 4.8% from 2015 to 2022.
Hexa Research Inc. Industry Research,Custom Research & Consulting Automotive Coatings Market Analysis, Share, Regional Outlook, Industry Trends, Competitive Strategies And Segment Forecast, 2012 To 2022 Industry Overview Global automotive coatings market size is expected to reach 5.5 million tons by 2022, growing at a CAGR of 4.8% from 2015 to 2022. Factors such as enhance durability, vehicle appearance and protection from foreign particles, UV radiation, acid rain & extreme temperatures are likely to drive automotive coatings market growth. Increasing automobile production particularly in Asia Pacific countries such as China, Thailand, Indonesia, India, Taiwan and Japan are anticipated to propel the demand. Browse Detail Report With TOC @ http://www.hexaresearch.com/research-report/automotive-coatings-market/ In 2013, the Chinese demand for passenger and commercial vehicles was 22 million units. Chinese automotive industry grew at a compounded rate of 24% from 2005 to 2011. Increased urbanization along with high demand for SUVs and sedans may fuel the demand. India is expected to witness high Hexa Research Inc. Industry Research,Custom Research & Consulting demand growth for automobiles due to industrialization coupled with government support for manufacturing vehicles. In India, The Automobile Mission Plan for the period 2006–2016, designed by the government is aimed at accelerating and sustaining growth in this sector. Thailand is expected to increase its share as it produced 2.75 million vehicles in 2012, with the presence of various players including Toyota Motors, Honda Automobile, Nissan Motors, Hino Motor and General Motors. Increasing focus towards adoption of power coatings owing to its properties such as non-VOC contents, low operational costs, high texture variation along with color thickness and durability is anticipated to drive growth. Global powder coatings market was valued at USD 8.12 billion in 2014 and is estimated to reach a value of USD 14.45 billion by 2022, growing at a CAGR of 7.5% from 2015 to 2022. As they are non-flammable, these do not cause any hazards such as fire accidents and damage to human health or environment on exposure. Volatility in raw material prices such as pigments, additives, solvents and binders are likely to challenge industry growth. Increasing prices of titanium dioxide, which is one of the common pigments used in manufacturing, is expected to hamper growth. However, increasing investments in research to develop products to improve performance is anticipated to provide opportunities. Request A Sample copy of This Report @ http://www.hexaresearch.com/sample/299 Technology Overview Solvent-borne coatings dominated the demand with a market valuation of over USD 7.5 billion in 2014. Majorly used solvent products include aliphatic hydrocarbons, aromatic hydrocarbons (trimethyl benzene, toluene and xylene), methyl isobutyl ketone (MIBK), glycol ethers and methyl ethyl ketone (MEK). High market visibility in light of low price is expected to result in high demand in the near future. Waterborne coatings market accounted for more than 35% of total share in 2014 and is likely to witness significant growth rates of over 5.5% up to 2022. Gaining popularity of eco-friendly paints in light of regulatory inclination towards restricting green house gas emissions is likely to have a positive influence on demand. Product Overview Basecoat was the leading product for consumption in automobile industry with an estimated revenue generation of over USD 4 billion in 2014. Majorly used product forms of basecoat include solid paints, Hexa Research Inc. Industry Research,Custom Research & Consulting metallic paints and pearlescent paints. These are used in automotive industry to impart color and metallic finishes to ancillary parts Clearcoat coatings accounted for more than 20% of the demand and are anticipated to grow at an estimated CAGR of over 4.5% from 2015 to 2022. Clearcoat is applied on top of the basecoat and forms a glossy and transparent interface. These are used for providing UV protection and excellent abrasion and corrosion resistance to automotive parts. Application Overview Key applications include metal parts of vehicles, valued at over USD 13 billion in 2014. Majorly used metals in automotive industry include steel and aluminium, where they are applied to impart corrosion and heat resistance. Automobile industry growth in the U.S., Mexico and China is expected to directly fuel growth in metals. Plastic applications accounted for more than 25% of the total volume in 2014 and are expected to witness highest growth rates over the forecast period. Shifting preference of vehicle manufacturers to deploy plastics over metals in light of properties offered by former’s including lightweight, corrosion resistance, greater durability and recyclability is likely to drive demand. Browse All Bulk Chemicals Industry Research Related Reports @ http://www.hexaresearch.com/research-category/bulk-chemicals-industry/ End-Use Overview Light vehicle OEM dominated the end-use segment with valuation of over USD 7.5 billion in 2014. Increasing penetration of OEMs for light vehicles in light of rising sales of cars in China and India is expected to fuel demand. Rising R&D expenditure by light vehicle OEMs towards product innovation is anticipated to positively influence automotive coating market in the near future. Automotive refinish accounted for more the 35% of the total volume in 2014 and is likely to witness significant growth rates at a CAGR of over 5% up to 2022. Rising importance of preventive maintenance over breakdown failures is expected to increase the penetration of services stations for maintenance, repair and overhaul. This factor is anticipated to promote demand for automotive refinish segment. Regional Overview Asia Pacific automotive coatings market was the dominant region, with revenue generation estimated at over USD 9 billon in 2014. Expansion of road networks in China, India and Malaysia amid the Hexa Research Inc. Industry Research,Custom Research & Consulting commitment of governments towards infrastructure improvement is expected to increase vehicles sales in the region and have a favourable influence on automotive coating market. North America accounted for more than 18% of the total demand in 2014 and is anticipated to grow at below average growth rates of over 4% up to 2022. Emergence of Mexico as an automotive manufacturing hub in light of vicinity to the U.S. along with growing domestic consumption is expected to fuel automotive coatings demand. Competitive Market Share The global automotive coatings market share is moderately consolidated with major players present across the value chain. PPG Industries was the largest company accounting for more than 20.0% of global share in 2014. The company’s product portfolio consists of various cathodic electrocoat and powder clearcoat which imparts corrosion resistance properties and improves design characteristics of the vehicle. Browse Full Report @ http://www.hexaresearch.com/research-report/automotive-coatings-market/ About Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. 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