A new market research report, " World Automotive Refinish Coatings Market - Opportunities and Forecast, 2014 - 2020", indicates that the global automotive refinish coatings market had witnessed a tremendous growth during the last 5 years. This was mainly due to increase in the number of vehicle collisions in conjunction with proclivity of owners to repair their vehicles. However, increasing government regulations on the utilization of high volatile organic compounds (VOC) level coatings may hamper the solvent-borne market growth. Therefore, the market is inclined towards water-borne refinish coatings, as they have comparatively low VOC levels.
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The market for global automotive refinish coatings is expected to grow at a CAGR of 6.3% during the forecast period (2015–2020) and would reach $11.3 billion by 2020. Increasing number of accidents, adoption of newer technologies and rising disposable income in the developing economies are the major factors that are expected to boost the market growth. Moreover, growing demand of recreational vehicles in the developed regions of North America and Europe is further expected to fuel the refinish coatings market.
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The market for automotive refinish coatings witnessed a significant growth due to various strategies adopted by the key market players. Acquisition and expansion are among the noteworthy strategies adopted by the companies. For instance, Axalta Coating System, commissioned a new manufacturing unit at Wuppertal, Germany to produce eco-friendly waterborne coatings. With this expansion, the company plans to address the growing demand for coatings in the Europe, Africa and Middle East markets owing to the centralized location of Wuppertal.
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This Report Includes:
- The study provides an in-depth analysis of the global automotive refinish coatings market with current and future trends to elucidate the imminent investment pockets in the market
- Quantitative analysis of the current market and estimations during 2014-2020 have been provided to highlight the financial caliber of the market
- Drivers and restraints have been evaluated to highlight the top factors responsible for market growth. Various segments are carefully evaluated to gauge the market potential
- Porter’s five forces model of the industry illustrates the potency of the buyers and suppliers participating in the market
- Value chain analysis in the report provides a clear understanding to the stakeholders involved in the market
- Geographical analysis provides a thorough understanding of the consumption of automotive refinish coatings in major regions
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Key Players of World Automotive Refinish Coatings Market:
The report provides a comprehensive analysis of the key companies operating in the global market such as Axalta Coating Systems, BASF SE, Kansai Paint Co. Ltd.,Mitsui Chemicals, PPG Industries, Inc., Nippon Paints, Sherwin Williams, 3M Co. and Matrix System Automotive Finishes.
The “World Automotive Refinish Coatings - Market Summary and Forecasts” is a detailed sector report providing a comprehensive analysis of the emerging trends, forecasts and opportunities to 2020.
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