Automotive Paints & Coatings Market Latest trends 2019 | Recent Industry Analysis to 2025

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Global Automotive Paints and Coatings Market to
grow at 8 CAGR till 2025 Global Market Insights
Inc.
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Industry Overview

• Automotive Paints Coatings Market growth is
  propelled by rising automobile sales along with
  increasing consumer preference towards improved
  vehicle aesthetics of the vehicle. The benefits
  offered by the paints including protection to the
  vehicle base material from corrosion along with
  improved finishes further expands the market.
  Additionally, the proliferating vehicle
  customization alternatives based on color and
  graphic schemes further accelerates the business
  share.
• Increasing preference for refurbishment and
  repair services owing to rising cases of
  accidents and crashes are boosting the revenue
  generation. Additionally, customers prefer to
  restore their vehicles to the original aesthetic
  and working condition, thereby accentuating the
  market over the study timeframe.
• Industry players are continuously investing in
  RD for developing advanced environmentally
  friendly paints with focus on minimizing the VOC
  content. Moreover, major automobile OEMs are
  continuously innovating their product portfolio
  with improved paints and coatings with a focus on
  superior body finishes, minimizing the occurrence
  of scratches and color fading.

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• Advancements in paint technologies including
  anti-finger print paint finishes, anti-glare
  coatings, transparent protective coatings and
  superior UV protection are boosting the market
  over the projected timeframe. Moreover,
  increasing adoption of dual coat technologies
  offering improved corrosion resistance along with
  smooth surface finish, thereby providing a
  positive outlook for the market expansion over
  the study timeframe.
• Passenger cars will grow considerably in the
  automotive paints coatings market over the
  study timeframe. The growth can be attributed to
  the availability of a wide vehicle model range
  across diversified price range. The availability
  of easier vehicle financing alternatives along
  with discounts offered by vehicle manufacturers
  in festive seasons to increase their sales are
  further supporting the market demand.
  Additionally, the entry of new players in the
  market are supporting the revenue generation over
  the projected timeframe.
• Clear coat automotive paints coatings market
  will showcase considerable growth owing to
  benefits offered by this coat in protecting
  primer and base coats from adverse environmental
  conditions. The clear coat is non pigmented and
  offers superior mirror finish and glossy
  appearance to the vehicles. Additionally, the
  coat is also mixed with UV blockers to protect
  the base coat from harmful sun rays that fades
  the paint. Industry participants are continuously
  upgrading their portfolio for improving their
  market share..

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Automotive Paints and Coatings Market
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• Polyurethanes will hold considerable share in the
  automotive paints coatings market owing to
  enhanced resistance to chemical and weathering
  conditions. The improved corrosion resistance and
  durable properties increases the polyurethane
  coatings usage in heavy commercial vehicles
  (HCV). Paint manufactures are launching new
  premium quality products for HCVs to increase
  their revenue.
• Europe will showcase significant growth in
  automotive paints coatings market owing to
  stringent vehicle paint regulations. The limiting
  usage of VOC based paints and development of wide
  water-borne paints and coatings are boosting the
  product penetration across the region. Moreover,
  the presence of multiple automobile OEMs focusing
  on offering a wide range of vehicles with
  diversified paint schemes at varied costs further
  accelerates the regional share over the study
  timeframe.
• Major automotive paints coatings market players
  include Eastman, Nippon Paints Holdings Co. Ltd.,
  Cabot Corp, Covestro, Dupont, PPG Industries Inc,
  and BAFS SE. The other notable participants are
  Axaltra Coating Systems, Donglai Coating
  Technology, Akzo Nobel NV, Wanda refinish,
  Valspar, and Clariant AG.

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