New York
City, 25 January 2019: The Report Automotive Coatings Market is anticipated to reach USD 35.82
billion by 2026. Escalating demand for coating materials in automobiles owing
to its growing popularity of protecting car paints from extreme heat, acid
rain, dust, UV radiations etc. along with its inherent characteristics of
enhancing vehicle appearance are expected to be the major factors driving the
demand for automotive coatings. These products are used for coating surfaces of
automobiles and are capable of producing long-lasting surfaces in automobile
satisfying customers’ needs along with maximizing efficiencies, enhancing
appearance and meeting environmental regulations.
Current trends for automotive coating
and its application process are aggravated by its shrinking cost of
manufacturing, delivering buyer satisfaction by means of corrosion protection
and enhancing aesthetic features, along with mitigating environmental concerns.
Tremendous quantity of consideration has already been put into the current used
automobile coating systems, and they carry a level of sophistication that has
been satisfying most customers globally. The advent of the new smart coatings
has almost alleviated the problem of corrosion, appearance and durability of
car topcoats making them perfectly acceptable for lifetime of any vehicle. The emergence
of two-layer topcoats worldwide and the gloss, color, and chip resistance
offered by these products remains functional in its first seven to ten years of
use. These advantages associated with the products are the primary reasons
anticipated to drive the market.
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These products confront to almost every
limitless environmental assault. Targeting specific customers’ expectations,
along with maximizing the efficiencies and compiling environmental regulations
with the new processes, are expected to augment demands for these products.
Competitive
Landscape and Key Vendors:
Asia Pacific is expected to emerge as
the largest regional market by 2026. Presence of an established automobile
manufacturing base in many nations of the region along with India’s increasing
automobile production along with the other Southeast Asian countries are the
major factors driving the industry. Several research and development projects
undertaken by many industry participants along with universities have been the
major factors for the developing high performance automotive coating materials
market of the region. Presence of a well-established automobile manufacturing
base in the U.S. and significantly growing automobile production market
especially in Mexico and Canada apart from the U.S. are the major factors
driving the North American industry.
Some of the leading industry
participants in this category of coating production globally includes Solvay,
DSM, Lord Corporation, Jotun A/S, Eastman Chemical Company, Clariant AG, Cabot
Corporation, Berger Paints, Beckers Group, Arkema SA, Sherwin-Williams Company,
AkzoNobel, Valspar Corporation, KCC Paint, Bayer AG, Nippon Paint, Kansai
Paint, PPG Industries, BASF and Axalta Coating Systems.
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