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Press Release

Global Automotive Paints Market to Reach Approximately US $25.7 Billion by 2022

This press release was orginally distributed by SBWire

Sarasota, FL -- (SBWIRE) -- 11/10/2017 -- Zion Market Research has published a new report titled "Automotive Paints Market by Vehicle Type (Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Cars), by Coat Type (Electro Coat, Primer, Basecoat, Clear Coat), by Technology (Solvent, Waterborne, and Powder Coating), by Texture (Solid and Metallic) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022". According to the report, global automotive paints market was valued at USD 18.5 billion in 2016, is expected to reach USD 25.7 billion by 2022 and is anticipated to grow at a CAGR of 5.2% between 2016 and 2022.

Global automotive paints market has been witnessing robust growth over the past few years owing to increase vehicle production in countries including China, India, Japan, Indonesia, South Korea, U.S., and Germany along with the aging of vehicles. This trend is expected to continue over the forecast period. Furthermore, demand for automotive paints is expected to grow on account of increasing demand for innovative and specialty products in the automobile sector.

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Additionally, rising demand for eco-friendly coatings such as powder coatings, UV-cured coatings, and waterborne coatings in emerging economies is anticipated to boost the market in coming years. However, key raw materials like titanium oxide, pigments, additives, and resins face supply imbalance and price variations, which may affect costing and result in the upswing of automotive paints market prices.

Automotive paints market has been segmented on the basis of vehicle type, coat type, technology, texture, and region. On the basis of technology, segment market is classified into solvent, waterborne, and powder coating. In 2016, Solvent borne coatings dominated the market and accounting for around 43% of the total volume. Solvent borne technology is expected to sluggishly grow owing to stringent regulations on VOC emissions, particularly in the developed regions. On the basis of coat types, the market is further divided into base coat, clear coat, a primer coat and electro coat. The texture type segment is classified into solid texture and metallic texture.

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The worldwide automotive paints market in 2016 was dominated by Asia Pacific. It accounted for around 50% of the global market share. Rising middle-class population, improve living standards, shifting consumers preferences, rising economy and growing demand for the luxurious vehicle are some of the major drivers for automotive paint in Asia Pacific region. Whereas, the governmental norms against volatile organic compound (VOC) automotive paint in North America and Europe is expected to boost the automotive paint market in these regions.

Global automotive paints market is very competitive and consolidated by the presence of many small and big players. The top automotive paints producers mostly directly sell their paints to automotive manufacturers only. Thus, their largest market is the manufacturing and sale of new automobiles. Key players profiled in the report include BASF SE, Akzonobel N.V., PPG Industries Inc., Kansai Paint Co., Ltd., Paint Holdings Co., Ltd, Nippon, Valspar Corporation, and Arkema SA among others.

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About Zion Market Research
Zion Market Research is an obligated company. We create futuristically, cutting edge, informative reports ranging from industry reports, a company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with Vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from Cardinal Industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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Media Relations Contact

Steven Schulz
Research Analyst
Zion Market Research
Telephone: 49-322 210 92714
Email: Click to Email Steven Schulz
Web: https://www.zionmarketresearch.com/sample/automotive-paints-market

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