North America Automotive Coatings Market

1. North America Automotive Coatings Market Size to Expand at Over 4.5% CAGR through 2026: Graphical Research ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

2. North America automotive coatings market will experience substantial growth during 2020-2026, thanks to the sudden rise in the production of passenger and commercial vehicles. The regional industry will showcase a total valuation of $6 billion by the end of 2026, according to market experts. Automotive coatings are primarily used to add a protective layer to various vehicles like cars, bikes and trucks. They are used to add an aesthetic appeal to these vehicles to attract more customers and increase sales. Advanced coating technologies are being increasingly adopted by several vehicle manufacturers in North America. These technologies coat vehicles with much higher precision and accuracy and are even known to effortlessly coat parts that are normally difficult to paint. Keeping in mind the environmental effects of these coatings, several coating manufacturers are now producing eco-friendly paints to reduce their emission rates. Primer, electrocoat, clearcoat and basecoat are some of the product categories of automotive coatings market. Out of these, the electrocoat segment is reported to witness steady growth through 2026 in North America. Electrocoat is commonly used to paint the vehicle body and it uses an immersion painting method for the same. This is a popular form of coating among many vehicle manufacturers as it is widely known to paint several complex parts with high precision and uniformity. There is a growing need among manufacturers to increase the speed of coating procedures so that the manufacturing process picks up pace, which is another factor that favors the demand for electrocoat. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

3. Browse detailed statistical insights from the report, “North America Automotive Coatings Market” along with the table of contents (ToC) @https://bit.ly/3BYowsR Get sample copy of this research report @ https://www.graphicalresearch.com/request/1805/sample ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

4. Solvent-borne, water-borne and UV-cured are some of the technologies used in the North America automotive coatings market. Out of these, the solvent-borne coating technology will showcase promising growth during the mentioned forecast timeline. In fact, this segment alone was valued at nearly $1.5 billion in 2019. One of the major factors cited for this is its strong protection properties. This coating has a solvent base and some organic compounds as well, which makes it easier to apply on vehicle surfaces and the paint dries at a faster rate. It is readily available and incurs much lesser cost for the company. It provides better protection to the vehicle from various environmental factors like dust and dirt, further propelling its demand. Adoption of eco-friendly paints is on the rise in North America, thanks to the introduction of strict regulations to curb the use of toxic coatings. Coatings with high emission rates are harmful for the environment as they contain volatile chemicals and may attract penalties from relevant authorities for using them. Eco-friendly paints have much lesser chemicals and are normally made from products available in the surrounding nature, which make them safer for human use and the environment as well. There was a time when customers didn’t have many choices when it came to the choice of color for their vehicles. However, that is not the case today as several vehicle manufacturers are introducing vibrant shades and colors to attract customers, leading to increased demand for North America automotive coatings market. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

5. Car modifications and refurbishing are some of the newest trends in the automotive industry wherein customers are increasingly demanding attractive coatings to make their vehicles look brand new. On the other hand, the consumers are seeing a steady rise in their disposable incomes, resulting in increased expenditure on vehicle maintenance. All these factors will enhance regional North America automotive coatings market growth. Some of the major companies involved in manufacturing automotive coatings in North America are Lord Corporation, BASF SE, Axalta Coatings Systems LLC, Solvay S.A., AkzoNobel N.V., Bayer AG and some others. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

6. About Graphical Research: Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle. Contact Us: Parikhit B. Corporate sales, Graphical Research Email:sales@graphicalresearch.comWeb: https://www.graphicalresearch.com ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com

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