Automotive Coatings Market Growth

Automotive Coatings Market with Latest Research Report, Growth, Key Vendors, Drivers and Forecast to 2027

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The practicality of automotive coating finds its usage in terms of both aesthetics and protection devotions. These days, the inclination towards automotive coating has enhanced due to rising consumer preference towards vehicle appearance and safety. In order to learn in-depth about the overall market for automotive coatings, Fact.MR has published an attentive research study titled “Automotive Coatings Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2027. This assessment delivers valuable insights such as growth drivers, restraints, opportunities and trends expected to impact the global automotive coatings market in the coming years.

According to research findings, the automotive coatings market has been predicted to record modest CAGR of over 4.0% during the period until 2027. Furthermore, the target market witnessed rising volume sales exceeding 3,500 tons in 2018, which indicates positive statistics during the forecast period. Some of the prime motivators for market growth include propensity towards refinish formulations and popularity of water-borne coatings.

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Changing Trend from Metals to Plastic Impacting Automotive Coatings Developments

Automotive Coatings Market : Industry Insights with Key Company’s Profiles - Forecast to 2027

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The automotive coatings market continues to witness significant transformation ranging from new material developments in the vehicle production to higher popularity of traditional colors compared to “more colorful” alternatives. The automotive coatings market is expected to witness an increase in volume sales of over 3,500 tons in 2018 over 2017, according to a recent Fact.MR study. Refinish formulations continue to gain center stage in the automotive coatings market, while water-borne coatings are gaining increased focus for basecoats.

Water borne automotive coatings have gained utter prominence over the years of evolution, primarily driven by environmental and health concerns of the solvent-borne automotive coatings. The study estimates nearly 6 in 10 tons of automotive coating sold worldwide in 2018 to be water-borne. However, demand for waterborne coatings as primer surface layer is likely to witness decline in tandem with increasing palpability of UV cure automotive coatings.

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