The Global Automotive Coatings Market is expected to Reach USD 18.2 Billion by 2022 at a CAGR of more than 8% during the period 2016 to 2022.
Over the past few years, the global market has witnessed a phenomenal growth due to increasing demand of automotive coatings. This has bring out a higher growth rate of the global automotive coatings market at the end of forecasted period. As per the market analysis, different factors have driven the market for automotive coatings continuous increase in the number of vehicles, growing automotive as well as transportation industry, technological advancement and others.
The key players of automotive coatings market report include BASF SE, Bayer AG, DuPont, Solvay, Arkema, Nippon Paint Holdings, PPG Industries, Kansai Paint, AkzoNobel, Royal DSM and among others.
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“Asia-Pacific is Projected to be the Largest Market during the Forecast Period”
Geographically, Asia-Pacific is expected to be the largest market for automotive coatings accounting high Market share of the total market. This growth is majorly attributed to the growing population which in turn has increased the need of vehicles, increasing disposable income as well as urbanization, presence of global players, and emerging economies have been fueling the demand of APAC region. Europe and North America stands themselves on second and third position.
Scope of the Study:
The scope of the study categorizes the automotive coatings market as product type, technology and material.
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By Product Type:
- Waterborne Coatings
- Solventborne Coatings
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