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With more and more people preferring to own at least one passenger vehicle, the demand for production of passenger as well as commercial vehicles has upscaled to a phenomenal value over the recent years. In fact, it was observed from OICA statistics of 2019 that about more than 91 million vehicles were produced worldwide to ease the mobility of people across various economies.
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APAC Automotive Paints And Coatings Market is Projected to Record CAGR of 5.5%Over 20-2026
Industry Insights: • On this note, it would be safe to declare that such trends are expected to provide a positive impetus to the overall automotive paints and coatings market is anticipated to record a valuation of $16 billion through 2026. • With more and more people preferring to own at least one passenger vehicle, the demand for production of passenger as well as commercial vehicles has upscaled to a phenomenal value over the recent years. In fact, it was observed from OICA statistics of 2019 that about more than 91 million vehicles were produced worldwide to ease the mobility of people across various economies.
The global automotive paints and coatings industry is fragmented into prominent result oriented segments including the type of vehicle, coating type, technology, texture, distribution channel, raw material, and regional landscape. • Considering the vehicle type, it would be noteworthy to mention that light commercial vehicles have been currently observing a massive adoption owing to their rising use for transporting goods and mass. LCVs generally boast of maximum mass of around 3.5 and 7 tons. • Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3243 • What has been adding to the adoption of these vehicles worldwide is the introduction to stringent norms and regulations pertaining to the rising levels of VOC emission, increased penetration of downsized engines, and escalating global oil prices. In fact, it would be crucial to state that the LCVs segment would account for a growth rate of 3.5% through 2026, enabling the owners to look out for better paints and coatings solutions.
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-paints-and-coatings-market Chapter 4 Automotive Paints & Coatings Market, By Vehicle 4.1 Global automotive paints & coatings market share by vehicle, 2019 & 2026 4.2 Light Commercial Vehicles 4.2.1 Global market estimates and forecasts, 2016 – 2026
4.2.2 Market estimates and forecast, by region, 2016 – 2026 4.2.3 Light commercial vehicles automotive paints & coatings market share by coating type, 2019 & 2026 4.2.3.1 Primer 4.2.3.1.1 Global market estimates and forecasts, 2016 – 2026 4.2.3.1.2 Market estimates and forecast, by region, 2016 – 2026 4.2.3.2 Basecoat 4.2.3.2.1 Global market estimates and forecasts, 2016 – 2026
Region: • Regionally, automotive paints and coatings industry is poised to garner significant gains from the European continent; courtesy- increasing automotive sales and registration in the region. • Besides, the thriving automotive industry in the region is also acting as leeway for market expansion in the economies of Europe. Estimates claim that Europe would hold around a 15% stake in the overall industry in the years to follow.
Key Players • Kansai Paint Co. Ltd • KCC Corporation • Nippon Paint Holdings Co. Ltd • PPG Industries • The Valspar Corporation • wanda refinish
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