Automotive Refinish Coatings Market Share, Development Strategy, Opportunities And Emerging Trends 2020-2027
Automotive Refinish Coatings Market Size – USD 8.73 billion in 2019, Market Growth – CAGR of 3.7%, Market trends –Growth of environment-friendly coating technologies.
The Automotive Refinish Coatings report is also furnished with beneficial strategic recommendations that will enable the companies to fortify their market positions. The report covers a detailed investigation of the cost analysis and geographical bifurcation to impart a thorough understanding of the Automotive Refinish Coatings market.
Automotive refinish coatings are used by market players to address the growing need for maintenance of the vehicle, up-to-date servicing to improve the durability and look of the vehicles by protecting them from any supposed damages and UV radiation. Constant investment in R&D and innovation in refinish coatings, such as eco-friendly high-tech coating materials, which is another driving factor of the market.
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The report provides an in-depth analysis of the competitive landscape and covers profiling of the key players along with their product portfolios, Automotive Refinish Coatings market position, production and manufacturing capacity, business strategies, lucrative alliances and partnerships, extensive research and development activities, revenue contribution, and gross profit margins.
Key participants include The Sherwin Williams Company, PPG Industries Inc., Axalta Coating Systems Ltd., BASF SE, AkzoNobel N.V, Kansai Paints Co. Ltd., Matrix System Automotive Finishes, Nippon Paint Holding Co. Ltd., Mitsui Chemicals, and Berger Paints India Ltd., among others.
Pivotal feature in the Report
- Clear coats, offer protection to the paint on vehicles from sun, dust, or water, hold the largest share of the market in 2019. The segment is expected to have a growth rate of 3.9% during the forecast period.
- Metal substrates held the largest share in 2019 and are expected to lead the segment throughout the forecast period with a significant CAGR since metal surfaces are prone to suffer from corrosion.
- The passenger vehicles segment dominated the market with 40.3% of the share in 2019, in terms of revenue. The demand is expected to increase because of high disposable incomes, substantially changing buying behaviour, and demand for luxury cars.
- The Asia Pacific region, mainly China, Japan, and India, has witnessed the expansion of its automotive industry owing to the high demand for commercial and passenger vehicles, increased population and congestion, which, in turn, has led to the growth of the market in the region.
Vernacular analysis covers a comprehensive breakdown of the market into key territorial to offer better insights about production volume information, consumption volume and patterns, revenue, trends and demands, supply and demand dynamics, import/export, and presence of key players in each region along with revenue share, revenue growth, and CAGR.
An extensive interpretation of the Global Automotive Refinish Coatings market based on the key geographies of the world offers a strategic insight into the market size and market share of the industry. The key regions include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Suspicion disintegrate in the report:
The Global Automotive Refinish Coatings Market report offers an elaborate analysis of the different elements of the industry, such as product development and technological advancements, product types, applications, and major expansion strategies undertaken by prominent companies. The assessment has been done based on primary and secondary research with a special focus on technological advancements, prominent industry players and suppliers, and distributors operating in the industry.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8 year analysis of the Global Automotive Refinish Coatings Market
- Critical understanding of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
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The data is garnered through stringent primary and secondary research and further validated and verified through industry veterans and experts. The report begins with basic information about the market, such as definitions, applications, classifications, value chain analysis, among others, to facilitate a better understanding among the readers.
For the purpose of this report, Emergen Research has segmented the Global Automotive Refinish Coatings Market on the basis of resin product, type, technology, application, substrate, and region:
- Resin Type Outlook (Revenue, USD Billion; 2017-2027)
- Product Outlook (Revenue, USD Billion; 2017-2027)
The report is furnished with the latest changes in the market scenario and demand and supply ratios with regards to the currently unfolding COVID-19 pandemic. The research report offers an initial and future assessment of the impact of the COVID-19 pandemic on the industry and offers insights for the businesses to overcome the difficulties raised by the crisis.
Main chapters covered in this report:
Part 01: Market Overview
Part 02: Market Size, by regions
Part 03: Market Revenue, by countries
Part 04: Market Competition, by key players
Part 05: Company Profiles
The analysis is done on the basis of the authentic and relevant information obtained from in-depth primary and secondary research. Additionally, the factors expected to drive or restrain the growth of the market are studied extensively in the report.
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