Auto Industry News
Auto Bailout News
Auto Show News
Car Dealers News
| Automotive News
| Submit Press Release
(I-AutoNewsWire.com, January 16, 2020 ) The report "Refinish Paint Market for Automotive by Layer (Clearcoat, Basecoat, Primer, & Sealer), Resin (PU, Epoxy, & Acrylic), Technology (Waterborne, Solventborne & Powder), Vehicle (Passenger Cars, Commercial Vehicles), and Region - Global Forecast to 2022", The refinish paint market for automotive is projected to grow from USD 7.00 Billion in 2017 to USD 8.50 Billion by 2022, at a CAGR of 4.0% from 2017 to 2022. The growth of this market is driven by the increasing demand for cars, high collision rate, rising income of the middle-class population, and the propensity of car owners to repair their vehicles post any collision. In 2016, the passenger car segment accounted for the largest share of the overall automotive refinish coating market.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9257396
Based on layer, the clearcoat segment is expected to be the largest segment of the market, in terms of volume, during the forecast period.
The clearcoat layer segment accounts for the largest share in terms of volume, in the overall automotive refinish market. Clearcoat is the final layer after basecoat in the automotive refinish coating process. It provides durability, scratch resistance, and chemical resistance to the overall coating. Clearcoat also protects against UV rays and provides a lustrous look to the vehicle.
Based on resin, the polyurethane segment is projected to witness the highest growth during the forecast period.
Polyurethane resins are widely used in clearcoat and basecoat. This resin helps formulate automotive coatings with higher gloss and excellent finish. The polyurethane resin based coating offers superior durability, thereby, lowering maintenance requirements significantly. The growth of polyurethane resin is also backed by its excellent resistance to UV rays, chemicals, and corrosion.
Don't miss out on business opportunities in Refinish Paint Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=9257396
Browse in-depth TOC on "Refinish Paint Market”
94 - Market Data Tables
39 - Figures
126 - Pages
Based on technology, solventborne coating is projected to be the largest segment of the market during the forecast period.
Solvent borne coating dominates the overall automotive refinish coating market. Solvent borne coating technology offers higher gloss level and excellent adhesion when compared to other technologies. It is also less affected by environmental conditions such as temperature and humidity during the curing phase. However, due to stringent environmental regulations in North America and Europe, there is a shift from solventborne to waterborne and powder coating.
The refinish paint market for automotive in APAC is projected to witness the highest growth during the forecast period.
The refinish paint market for automotive in APAC expected to witness the highest growth during the forecast period. The growth can be majorly backed by the increasing demand for cars and rising income of middle-class population in emerging economies, such as China, India, and South Korea. Major key players are focused on inorganic growth strategies such as mergers & acquisitions to enhance its footprint as well as cater the growing demand in this region.
Key players profiled in the refinish paint market for automotive report are Axalta (US), PPG Industries (US), BASF (Germany), Sherwin-Williams (US), Kansai Paint (Japan), Nippon Paint (Japan), KCC Corporation (Korea), and AkzoNobel (Netherlands)
Get this report @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=9257396
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh