Automotive Paints and Coatings Market to hit $27.5 Bn by 2025

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Automotive Paints and Coatings Market to hit
27.5 Bn by 2025
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Key Insights from Automotive Paints and Coatings
Market

• Automotive Paints and Coatings Market is
  estimated to reach USD 27.5 million by 2025
  according to a new research report by Global
  Market Insights, Inc.
• Rising vehicle production coupled with rising
  consumer preference towards dual color
  alternatives are driving the automotive paints
  and coatings market share. Industry players are
  investing in technologies and finishes to give
  customers alternatives for customizing their
  vehicles. Additionally, scratch resistance along
  with improved gloss finishing and corrosion
  resistance are gaining significant traction in
  the market.
• Growing customer expectations primarily with
  respect to sustainability, durability and
  aesthetics of vehicles are enabling automobile
  OEMs to develop new color combinations and
  solutions. Paint manufacturers are collaborating
  with automobile OEMs to reduce toxic substances
  in paints.

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Continued

• The development of such paints also contributes
  towards reducing the problems associated with
  waste disposal owing to the reduced usage of
  hazardous substances, thereby expanding the
  automotive paints and coatings market.
• Technological advancements in paint technologies
  play a major role in expanding the automotive
  paints and coatings market size over the
  projected timeframe. Proliferation of low
  temperature paint systems enables for superior
  paint finishes at around 100 degrees compared to
  around 150 degrees in the traditional paint
  systems.
• Light commercial vehicle (LCV) automotive paints
  and coatings market share will witness around 3
  CAGR owing to increasing sales of light
  commercial vehicles across the globe. For
  instance, according to the International
  Organization of Motor Vehicle Manufacturers
  (OICA) production of LCV in 2018 was 21,072,296
  units accounting for an increase of around 4.2
  as compared to 2017.

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Latest Research Report On Automotive Paints and
Coatings Market _at_ https//www.gminsights.com/indus
try-analysis/automotive-paints-and-coatings-market
Request for a sample of this research report
_at_ https//www.gminsights.com/request-sample/detail
/3243
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U.S. Automotive Paints Coatings Market, By
Vehicle, 2018 2025, (USD Million)

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Major Companies Automotive Paints and Coatings
Market

• Cabot Corp
• Eastman
•  PPG industries Inc
• Dupont
• BASF SE

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Industry Coverage

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Regional Insights in Automotive Paints and
Coatings Market

• Asia Pacific automotive paints and coatings
  market witness significant growth over the
  forecast timeframe. This can be attributed to the
  improving economic conditions, rising disposable
  income along with higher requirement for personal
  mobility solutions.
• The increasing presence of automotive
  manufacturers across the region along with
  setting up of production facilities for ramping
  up of vehicle production further expands the
  regional share over the study timeframe. For
  instance, in 2019 Tesla Inc. announced the
  setting up of its Gigafactory in China for
  producing Model 3 and Model Y vehicles.

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