The practicality of automotive coating finds its usage in terms of both aesthetics and protection devotions. These days, the inclination towards automotive coating has enhanced due to rising consumer preference towards vehicle appearance and safety. In order to learn in-depth about the overall market for automotive coatings, Fact.MR has published an attentive research study titled “Automotive Coatings Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2027. This assessment delivers valuable insights such as growth drivers, restraints, opportunities and trends expected to impact the global automotive coatings market in the coming years.
According to research findings, the automotive coatings market has been predicted to record modest CAGR of over 4.0% during the period until 2027. Furthermore, the target market witnessed rising volume sales exceeding 3,500 tons in 2018, which indicates positive statistics during the forecast period. Some of the prime motivators for market growth include propensity towards refinish formulations and popularity of water-borne coatings.
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Changing Trend from Metals to Plastic Impacting Automotive Coatings Developments
In search for lightweight material alternatives, various automakers have gradually shifted from metallic choices to high-strength plastics as well as carbon fiber reinforced polymers. There have been significant challenges coped by coating formulators and applicators considering vehicles manufactured as of multi-metal substrates. However, the innovation drive across the complete automotive coating process and supply chain is expected to inflate the market growth for automotive coatings in the following years.
Solvent-borne Coatings Sustain Heavy Demand Despite Worries
The demand for solvent borne automotive coatings is projected to surge at an impressive rate as compared to water-borne coatings. Despite growing environmental and health concerns linked to these variants, this coating type is gaining higher traction. Furthermore, relative preference for solvent-borne solutions is dependent on the factor that these automotive coatings preserve the bond between pigments liquid as well as binding agents. However, considerable efforts are being put in place to restrict emissions at the time of hardening.
Acrylics to Remain Ideal Resin for Automotive Coatings
Based on this Fact.MR report, acrylics would retain their spot as the top-selling resin across the automotive coatings market. The leading use of resins in passenger cars, trailed by fluoropolymers is considered as a major factor to define their preference. However, it has been witnessed that manufacturers are now shifting to incorporate amines and poly alkyds as suitable alternatives.
The final section of the study discourse crucial information targeting the competitive scenario prevailing across the global automotive coatings market. Readers can gather important specifics associated to demand & supply trends of automotive coatings active across the globe, merged with scrutinized assessment on different players functioning in the market. Details such as company overview, key financials, product overview and recent developments for every manufacturer is carefully compiled in this study. Some of the key players profiled in the assessment include Nippon Paint (USA), Behr Process Corp., Benjamin Moore & Co., Kansai Paint Co. Ltd., Axalta Coating Systems, BASF Coatings, RPM International Inc., Nippon Paint Holdings Co., AkzoNobel, PPG and The Sherwin-Williams Co.
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