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Automotive Refinish Coatings Market to Grow With 5.97% CAGR From 2018 to 2026 With Increasing Demand for Automobiles - TMR

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News provided by

Transparency Market Research

11 Jun, 2019, 11:30 BST

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ALBANY, New York, June 11, 2019 /PRNewswire/ -- According to an analysis of global automotive refinish coatings market by the experts at Transparency Market Research, the market is influenced by a tough competition between prominent players. These businesses are focusing on expanding their product line in order to keep the momentum on their side and stay ahead of their competitors. To cater to the rising demand for variety by the customers, players are also investing heavily on research and development activities. In order to acquire an edge over the rival businesses, players of global automotive refinish coatings market are redefining their business processes. They adopting, mergers, collaboration, and partnerships for expanding their business. Some businesses are acquiring various small and medium scale businesses so as to expand their resource bank and enhance their production capacity.

Some of the prominent influencers of global automotive refinish coatings market are BASF SE, The Sherwin-Williams Company, Valspar Corporation, Axalta Coatings, Akzo Nobel NV, Nippon Paint Holdings, and KCC Corporation.

Request a Sample of Global Automotive Refinish Coatings Market: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=56838

According to a recent report by Transparency Market Research, the global automotive refinish coatings market is projected to witness a moderate growth with 5.97% CAGR in the forecast period of 2018 to 2026. Experts also address the fact that by the end of 2017, the market was valued to around US$7.9 bn.

On the basis of process types, the global automotive refinish coatings market's clear coat segment shall dominate the market in the forecast period. The growth will be the result of the ability of clear coat to withstand harsh weather conditions and various other natural influences. Clear coat also provides an impeccable shine and finish to the vehicles which is another reason for the segment to be dominant in the forecast period for global automotive refinish coatings market.

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Geographically, the global automotive refinish coatings market shall witness the highest growth in the region of Asia Pacific. The region shall be leading the market on the basis of major investments from many automobile manufacturers in the region. Asia Pacific has become an automobile hub over the period of time, which is also a prominent factor that is influencing maximum growth of global automotive refinish coatings market in the region.

Rising Insurance Coverage to Boost the Market

Insurance providers are now very well acquainted with the nuance of consumer behavior. They understand that customers are willing to have insurance cover for any sort of damage to their vehicle. This is the reason that is compelling the insurance companies to provide insurance covers on paint jobs on the vehicle. Owing to the insurance covers by various companies, the global automotive refinish coatings market is experiencing the projected growth in the forecast period.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=56838

Furthermore, the rise in the sales of the vehicles in various growing economies is also helping the global automotive refinish coatings market to grow over the period of time. Rising per capita income and growth of disposable income of the people of multiple country also accounts for the growth of global automotive refinish coatings market. Finally, the growth of road accidents where the vehicle paint job is completely ruined, is yet another factor that is supporting the global automotive refinish coatings market to grow in the projected time.

Growing Demand of Customization of Cars to Offer Various Opportunities to the Players

As a result of growing trend of customizing the cars, new doors have opened for players operating in the global automotive refinish coatings market. Consumers are inclining towards getting their cars customized as per their requirement. This creates a huge requirement for out of the line and radical paint jobs. This overall influences the growth of automotive refinish coatings market globally. However, the high price of the services involved in car customization may hamper the growth of market during the forecast period. Nonetheless, with the ever rising demand of keeping the vehicle as good as new for a long period of time shall keep the momentum of the automotive refinish coatings market progressing and shall help the market to grow during the forecast period.

Browse Press Release: https://www.transparencymarketresearch.com/pressrelease/automotive-refinish-coatings-market-2018-2026.htm

The study presented here is based on a report by Transparency Market Research (TMR), titled, "Automotive Refinish Coatings Market (Process - Primer, Base Coat, Clear Coat, Activator, Filler; Technology - Solvent-borne, Water-borne) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026."

The global automotive refinish coatings market is segmented on the basis of:

  • Process
    • Primer
    • Base Coat
    • Clear Coat
    • Activator
    • Filler
    • Others (including E-coat)
  • Technology
    • Solvent-borne
    • Water-borne
    • Powder
    • UV-curing
  • Region
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • U.K.
      • Italy
      • Spain
      • Russia & CIS
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC
      • South Africa
      • Rest of Middle East & Africa

Browse Chemicals and Materials Market Research Reports

Popular Research Reports by TMR:

Nanocoatings Market: https://www.transparencymarketresearch.com/nanocoatings-market.html

Polyurea Coatings Market: https://www.transparencymarketresearch.com/polyurea-coatings-market.html

Thermal Barrier Coatings Market: https://www.transparencymarketresearch.com/thermal-barrier-coatings-market.html

High-performance Anti-corrosion Coatings Market: https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com 
Website:
 http://www.transparencymarketresearch.com 
Research Blog:
 http://www.europlat.org/

Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg

SOURCE Transparency Market Research

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