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Global Automotive OEM Coatings Market

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Description

Global Automotive OEM Coatings Market was valued US$ 8.2 Bn in 2018 and is anticipated to reach approximately US$ XX Bn by 2026 at a CAGR of about XX % during a forecast period.

The report on “Automotive OEM Coatings Market” is segmented by type, by vehicle and by region. Based on type of coatings, automotive OEM coatings market is segmented into solvent-borne coatings, water borne coatings and powder coating. In terms of vehicle, automotive OEM coatings market is divided by passenger cars, light commercial vehicles, heavy commercial vehicles. By region, automotive OEM coatings market report covers market for North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Increase in disposable income of consumers in developing economies has fuelled the demand for passenger cars hence automotive OEM coatings market. Automotive companies are establishing manufacturing facilities in emerging countries to meet the demand, this is further stimulating the growth of automotive OEM coatings market. Prices of automotive OEM coatings are also expected to rise at a steady pace which is predicted to hamper market. Solvent-borne automotive coatings may affect the overall market growth in the developed and the developing countries, but investments in R&D in new production alternatives are expected to provide opportunities for growth in the future.

Global Automotive OEM Coatings Market, by Vehicle Type

Solvent borne coatings segment is dominating the automotive OEM coatings market but strict regulation against VOCs emission may hinder it’s growth in forecast. Water borne and powder coating segment will grow at high CAGR owing to its eco-friendly and VOC free nature. Excellent features of powder coat like zero VOCs emission and relatively thicker layer as compared to traditional automotive coatings will favour the growth of powder coat segment.

Passenger cars segment has opportunity of high potential in the automotive OEM coatings market. Increase in demand for passenger cars with rise in public transportation spending. Increase in shift of consumers towards efficient, comfortable and easy transportation boosts the overall demand for automotive OEM coatings in the passenger cars segment.

For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-automotive-oem-coatings-market/15629/

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