Automotive Refinish Coatings Market Expected to Expand at a Steady CAGR through 2025
Automotivevehicles require timely maintenance and repairing to enhance the appearance and durability of vehicle by protecting them from external factors such as extreme temperature and UV radiation. For the need of refinishing the automotive refinishing coatings are frequently used in automotive aftermarket by end-users like automotive body shops and automotive repair centers. For durability, speed and perfect matching color the service providers use advance technology such as spray gun to apply primer and color coats of paints. Refinishing coatings are also applied to components and body of vehicle to protect from deterioration caused by foreign particles such as stone and other debris.An increasing demand for refinishing of vehicles across the globe, has led to significant improvements in automotive refinish coatings market such asdevelopment of advance coating material which are eco-friendly and low-solvent content. These products also provide good blend of ease of use, speed, durability and color match.
Some of the underlying growth factors in global automotive refinish coatings market is consistent increase in number of vehicles in operation worldwide. Increase in miles driven, road accidents, and demand for recreational vehicles are the major drivers responsible for the growth of global automotive refinish coatings market. However, volatility of raw material prices and enhanced road safety parameters are some of the major challenges inglobal automotive refinish coatings market.
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Automotivevehicles require timely maintenance and repairing to enhance the appearance and durability of vehicle by protecting them from external factors such as extreme temperature and UV radiation. For the need of refinishing the automotive refinishing coatings are frequently used in automotive aftermarket by end-users like automotive body shops and automotive repair centers. For durability, speed and perfect matching color the service providers use advance technology such as spray gun to apply primer and color coats of paints. Refinishing coatings are also applied to components and body of vehicle to protect from deterioration caused by foreign particles such as stone and other debris.An increasing demand for refinishing of vehicles across the globe, has led to significant improvements in automotive refinish coatings market such asdevelopment of advance coating material which are eco-friendly and low-solvent content. These products also provide good blend of ease of use, speed, durability and color match.
Some of the underlying growth factors in global automotive refinish coatings market is consistent increase in number of vehicles in operation worldwide. Increase in miles driven, road accidents, and demand for recreational vehicles are the major drivers responsible for the growth of global automotive refinish coatings market. However, volatility of raw material prices and enhanced road safety parameters are some of the major challenges inglobal automotive refinish coatings market.
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Report Description Automotive vehicles require timely maintenance and repairing to enhance the appearance and durability of vehicle by protecting them from external factors such as extreme temperature and UV radiation. For the need of refinishing the automotive refinishing coatings are frequently used in automotive aftermarket by end-users like automotive body shops and automotive repair centers. For durability, speed and perfect matching color the service providers use advance technology such as spray gun to apply primer and color coats of paints. Refinishing coatings are also applied to components and body of vehicle to protect from deterioration caused by foreign particles such as stone and other debris.An increasing demand for refinishing of vehicles across the globe, has led to significant improvements in automotive refinish coatings market such asdevelopment of advance coating material which are eco-friendly and low-solvent content. These products also provide good blend of ease of use, speed, durability and color match. Browse Full Report@ http://www.futuremarketinsights.com/reports/details/automotiverefinish-coatings-market Some of the underlying growth factors in global automotive refinish coatings market is consistent increase in number of vehicles in operation worldwide. Increase in miles driven, road accidents, and demand for recreational vehicles are the major drivers responsible for the growth of global automotive refinish coatings market. However, volatility of raw material prices and enhanced road safety parameters are some of the major challenges inglobal automotive refinish coatings market.
Report Description The global automotive refinish coatings market is geographically segmented into seven key regions which are, North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. Asia-pacific is leading automotive refinish coatings market in terms of revenue due to rising vehicles in operation and increasing sales of pre-owned cars. However the growth in North America, Eastern Europe and Western Europe is expected to remain stagnant for the forecast period. Growth in automotive refinish coatings market is relatively high in BRIC nations when compared with matured economies due to developing automotive aftermarket in these countries. This rapid growth in automotive refinish coatings market is fuelled by multiplemacroeconomic factors such as rising number of cab-services, increasing car customization and rising capacity of collision repair& vehicle body shops. In addition, it is expected that in the next 30 years the total number of passenger cars in developing countries would reach around 3.5 to 4 billion. On the basis of product type the global automotive refinish coatings market is further segmented into two sub-segments which are Solvent-borne Coatings and water-borne Coatings. The solvent-borne coatings dominates the global automotive refinish coatings market, whilst for the forecast period the growth rate of water-borne coating type is estimated to be high. In Europe and North America automotive refinish coatings market adoption of water-borne coating material segment is increasing rapidly due to government regulationsto reduce volatile organic compounds (VOC) level, which is generally high in solvent-borne coatings.
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Report Description<br />
The global au<strong>to</strong>motive refinish co<strong>at</strong>ings market is geographically segmented in<strong>to</strong> seven<br />
key regions which are, North America, L<strong>at</strong>in America, Eastern Europe, Western Europe,<br />
Asia Pacific, Japan and Middle East & Africa. Asia-pacific is leading au<strong>to</strong>motive refinish<br />
co<strong>at</strong>ings market in terms of revenue due <strong>to</strong> rising vehicles in oper<strong>at</strong>ion and increasing<br />
sales of pre-owned cars. However the growth in North America, Eastern Europe and<br />
Western Europe is expected <strong>to</strong> remain stagnant for the forecast period. Growth in<br />
au<strong>to</strong>motive refinish co<strong>at</strong>ings market is rel<strong>at</strong>ively high in BRIC n<strong>at</strong>ions when compared<br />
with m<strong>at</strong>ured economies due <strong>to</strong> developing au<strong>to</strong>motive aftermarket in these countries.<br />
This rapid growth in au<strong>to</strong>motive refinish co<strong>at</strong>ings market is fuelled by multiplemacroeconomic<br />
fac<strong>to</strong>rs such as rising number of cab-services, increasing car cus<strong>to</strong>miz<strong>at</strong>ion and<br />
rising capacity of collision repair& vehicle body shops. In addition, it is expected th<strong>at</strong> in<br />
the next 30 years the <strong>to</strong>tal number of passenger cars in developing countries would reach<br />
around 3.5 <strong>to</strong> 4 billion.<br />
On the basis of product type the global au<strong>to</strong>motive refinish co<strong>at</strong>ings market is further<br />
segmented in<strong>to</strong> two sub-segments which are Solvent-borne <strong>Co<strong>at</strong>ings</strong> and w<strong>at</strong>er-borne<br />
<strong>Co<strong>at</strong>ings</strong>. The solvent-borne co<strong>at</strong>ings domin<strong>at</strong>es the global au<strong>to</strong>motive refinish co<strong>at</strong>ings<br />
market, whilst for the forecast period the growth r<strong>at</strong>e of w<strong>at</strong>er-borne co<strong>at</strong>ing type is<br />
estim<strong>at</strong>ed <strong>to</strong> be high. In Europe and North America au<strong>to</strong>motive refinish co<strong>at</strong>ings market<br />
adoption of w<strong>at</strong>er-borne co<strong>at</strong>ing m<strong>at</strong>erial segment is increasing rapidly due <strong>to</strong><br />
government regul<strong>at</strong>ions<strong>to</strong> reduce vol<strong>at</strong>ile organic compounds (VOC) level, which is<br />
generally high in solvent-borne co<strong>at</strong>ings.
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