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Automotive coatings are applied on the surface of automotive or vehicles to improve their durability and resistance to high temperature, dust, foreign particles, corrosion, and rusting. These coatings are applied by Original Equipment Manufacturers (OEMs) during the manufacture of vehicles. Automotive coatings are applied in the following order over substrates: E-coat or electro-coat, primer, base coat, and clear coat. Growth in economy, improvement in purchasing power parity, and rise in population are positively impacting the automotive sales in Asia Pacific. This, in turn, is driving the au
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Automotive Coatings Market Along With The Industry Growth Factors, Trends And Foresight Up To 2031 Automotive Coatings Market – Snapshot Automotive coatings are applied on the surface of automotive or vehicles to improve their durability and resistance to high temperature, dust, foreign particles, corrosion, and rusting. These coatings are applied by Original Equipment Manufacturers (OEMs) during the manufacture of vehicles. Automotive coatings are applied in the following order over substrates: E-coat or electro-coat, primer, base coat, and clear coat. Growth in economy, improvement in purchasing power parity, and rise in population are positively impacting the automotive sales in Asia Pacific. This, in turn, is driving the automotive coatings market in the region. Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep _id=3568 Based on product type, the global automotive coatings market has been segmented into polyurethane, epoxy, acrylic and others. Polyurethane is the widely used product type of automotive coatings. Polyurethane coatings provide resistance against corrosion and abrasion. They are extensively used in automotive clear coats and can be applied as water-borne and solvent-borne formulations. The polyurethane segment is estimated to dominate the automotive coatings market during the forecast period. Epoxy is another key segment of the global automotive coatings market. Acrylic automotive coatings are water-based and contain lower amounts of volatile organic compounds (VOCs). The segment is estimated to expand at a rapid pace during the forecast period. In terms of technology, the global automotive coatings market can be divided into solvent-borne, water-borne, powder, and UV-cured. The solvent-borne segment accounts for major share of the market. However, demand for solvent-borne coatings is gradually decreasing, as they contain volatile organic compounds (VOCs). The water-borne segment is projected to expand at a rapid pace owing to its low VOC content and environment friendly nature. Powder and UV-cured segments are also anticipated to expand at rapid pace during the forecast period due to their excellent chemical resistance and high speed of curing. In terms of coat, the global automotive coatings market can be classified into e-coat, primer, basecoat, and clear coat. These coats are applied in the same order on automotive surfaces. Clear coat is likely to dominate the market during the forecast period. However, the basecoat segment is estimated to lead in terms of demand.
REQUEST FOR COVID19 IMPACT ANALYSIS – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&re p_id=3568 Based on application, the global automotive coatings market can be bifurcated into automotive OEM and automotive refinish. Automotive OEM is the dominant segment of the global automotive coatings market. India, China, Japan, South Korea, Thailand, and Indonesia are some of the major countries of the global automobile production landscape. China is the leading producer of automobiles in the world. Production of automobiles in India is increasing at a rapid rate. This is expected to drive the demand for automotive OEM coatings during the forecast period. Based on region, the global automotive coatings market can be split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Rise in demand for automotive coatings in Asia Pacific and Latin America is likely to drive the automotive coatings market during the forecast period. The automotive industry in Asia Pacific is witnessing high investments. The region is one of the automobile manufacturing hubs across the world. The global automotive coatings market is dominated by large players. Presence of large number of small- and medium-sized players makes the market highly competitive. Key players operating in the market are BASF SE, Axalta Coatings, PPG Industries, Valspar Corporation, The Sherwin-Williams Company, Akzo Nobel NV, Nippon Paint Holdings, KCC Corporation, and Jotun. Need to Improve Appearance and Durability to Drive Automotive Coatings Market The global automotive coatings market is estimated to observe growth in the rising demand for these coatings for the purpose of increasing durability and enhancement of appearance of automobiles. These coatings are also able to provide protection to the automobiles from various adverse effects of harsh environmental conditions, such as UV radiation, extreme temperatures, foreign particles, and acid rain. These benefits are likely to widen scope of rapid growth for the global automotive coatings market in the near future. Increased production of automobiles in various developing nations, such as South Africa, South Korea, Brazil, India, and China due to increased level of income and growth of population is anticipated to foster expansion of the global automotive coatings market in the years to come. Besides, surging demand for automotive refinish due to vehicle repair and maintenance is foreseen to trigger growth of the market over the forecast timeline.
Purchase A Report- https://www.transparencymarketresearch.com/checkout.php?rep_id=3568<ype=S Powder Coating to Play an Important Role in the Rapid Growth of the Market Powder coatings are rapidly gaining momentum in the global automotive coatings market. These coatings do not release volatile organic compounds and area solvent- free procedure for the purpose of layering surfaces. These coatings come with various economic and environmental benefits, which is likely to work in favor of the global automotive coatings market in the years to come. In addition, rising demand for various hybrid and electric vehicles are foreseen to trigger demand for automotives as these vehicles make low carbon emissions. The ongoing pandemic situation has resulted in the much reduced demand for paints and coatings in automotive industry. Covid-19 and its new variant, B.1.1.7 has wreaked havoc across the world, forcing governments to impose lockdowns, which has adversely affected several industries across the globe. The path that leads to the recovery of industrial growth is totally dependent on the effects of lockdowns on the economic growth and duration of imposed restrictions. However, contrary to the overall trend in the industry, specific segments like anti-microbial coatings are anticipated to gather momentum in the industry.
