Automotive Coatings Market to Touch USD 39.2 Billion by Market Research Report to 2027

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Latest Study on “Automotive Coatings Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.

The global Automotive Coatings market size is expected to be worth around US$ 39.2 Billion by 2027, according to a new report by nova one advisor.

The global Automotive Coatings market size was valued at US$ 22.9 Billion in 2020 and is anticipated to grow at a CAGR of 5.9% during forecast period 2021 to 2027. In the current market scenario, there is a growing demand for automotive coatings in end-use industries. End-use industries are witnessing huge growth in emerging economies. Surging demand for both passenger and commercial automobiles in emerging countries including China, India, Mexico, Brazil, and South Africa on account of population growth and developing living standards is expected to augment market size over the forecast period. Moreover, increasing requirement of protection against harsh climate, dust, dirt, UV radiation, and acid rain is expected to aid in industry expansion.

A growing number of accidents in countries including India and Brazil owing to adverse road conditions in mountainous areas is anticipated to fuel the demand for these products over the upcoming years. Moreover, increasing requirement of maintenance, repair, and refurbishing work of old vehicles is expected to stimulate growth.

Rising consumption of powder coatings in light of its superior properties, such as near-zero volatile organic compound emissions and thicker layer compared to conventional coatings, is expected to increase market size. Furthermore, continuous investments by manufacturers along with an increasing number of manufacturing facilities in Brazil and China will drive growth over the forecast period.

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The market survey provides compelling insights into important drivers that enable growth. It highlights untapped potential in a variety of industries. For the purpose of the study, the market has been segmented in terms of Resin Type Technology Type, Coat Type and Regional. The report presents an incisive view of various factors impacting growth across these categories. Challenges posing threat also are studied in detail.

Apart from underscoring unexplored prospects, the report is intended to prepare businesses for unforeseen challenges in the future. It covers recommendations to help them navigate their businesses through obstacles to continue reporting growth at a sustainable pace.

COVID-19 Impact on Automotive Coatings Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Automotive Coatings market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Automotive Coatings market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Emerging Nations to Continue Attracting Investments :

The expansion of various industries across India, China, Brazil, and other emerging countries will help the Automotive Coatings market flourish. Consistent investment towards industrialization and urbanization, as well as the implementation of policies favouring foreign investment, will continue to be major growth drivers.

Expansion initiatives undertaken by various countries will aid the growth of the Automotive Coatings market. Besides, the easy availability of raw materials and labours at a cheaper cost will attract an increasing number of companies within the Automotive Coatings market.

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Some of the prominent players in the Automotive Coatings Market include:  BASF SE , Axalta Coating Systems , PPG Industries, Inc., Kansai Paint Co., Ltd , and Nippon Paint Holdings Co., Ltd.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

Based on Resin Type:

  • Polyurethane
  • Epoxy
  • Acrylic
  • Others

Based on Technology Type:

  • Solvent-borne
  • Water-borne
  • Powder coating & others

Based on Coat Type:

  • Clearcoat
  • Basecoat
  • E-coat
  • Primer

The regional segmentation covers:

-North America Region (U.S., Canada, Mexico)

-Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)

-Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

-South America Region (Brazil, Argentina, Columbia, Rest of South America)

-The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Findings of the Automotive Coatings Market Study

  • Backed by the presence of well-established industrial infrastructure and willingness to spend on advanced technologies will strengthen North America’s hold in the global market.
  • The Europe market will continue gaining from surging demand in Germany, U.K., Italy, France, and Spain.
  • Investment towards industrialization and favourable policies intended at encouraging foreign investment will drive growth in India and China, sealing Asia Pacific’s position as a highly lucrative market for Automotive Coatings.
  • In Latin America, the market will gain from surging focus on economic development.

Why Buy this Report?

The purpose of Nova one advisor’s Automotive Coatings market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

Some of the key highlights of the report are:

  • Automotive Coatings Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Nova one advisor presents the most precise rate of growth for the market for the assessment period starting from (start year) to (end year).
  • Automotive Coatings Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
  • Key Market Segments – To present an exhaustive overview, the global Automotive Coatings market is segmented in terms of Resin Type Technology Type, Coat Type and Regional, and region. Opportunities existing across each of these categories are reflected on to help businesses realize their true potential.
  • Competitive Landscape Analysis – Some of the leading companies operating in the Automotive Coatings market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.

Buy Complete Assessment of Automotive Coatings market Now @ https://www.novaoneadvisor.com/report/checkout/5643

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