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Feb 04, 2021 (Heraldkeepers) —
Automotive OEM Coatings Marketplace Insights
The world wide automotive OEM coatings current market was valued at USD 7,759.5 million in 2018 and is anticipated to show a CAGR of 6.45% throughout the critique period of time, 2019−2025. The growing consumer preference for automotive coatings and the increase in automotive sale throughout the world, especially passenger autos, are the aspects mainly boosting the expansion of the global automotive OEM coatings marketplace. Additionally, the demand from customers for automotive OEM coatings is dominated by solvent-borne coating know-how as of 2018, on the other hand, the expanding regulatory strain on the use of solvent-borne coatings throughout the globe owing to its higher VOC written content may well hamper the product current market through the forecast time period.
Automotive OEM Coatings Market Segmental Analysis
The global COVID-19 analysis on automotive OEM coatings sector has been segmented by software, conclusion-use market, and region.
By item kind, the global automotive OEM coatings industry has been divided into clearcoat, basecoat, primer, E-coat, and others. The clearcoat segment held the biggest current market share in 2018 by worth and volume thanks to its somewhat huge-scale consumption and higher price tag. The phase is also predicted to sign up the maximum CAGR for the duration of the forecast time period.
On the foundation of resin, the global automotive OEM coatings industry has been segmented into polyurethane, acrylic, epoxy, alkyd, and other people. The polyurethane section accounted for the major share of above 45% in 2018 owing to its outstanding performance properties over other resins and is also likely to increase at a sizeable fee in the coming several years.
By technology, the world wide automotive OEM coatings marketplace has been segmented into solvent-borne, water-borne, UV healed, superior strong coatings, powder coatings, and other folks. The solvent-borne phase held the most significant marketplace share of over 50% in 2018 because of to its fast drying qualities and minimal expense. The segment’s progress is also pushed by considerably less regulatory stress linked to solvent-borne coatings in the international locations of Asia-Pacific. On the other hand, h2o-borne technological know-how phase is predicted to show the highest CAGR in the course of the forecast period.
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Automotive OEM Coatings Market place Regional Assessment
The global automotive OEM coatings sector share has been examined with respect to five areas, specifically Asia-Pacific, North The united states, Europe, Latin America, and the Center East & Africa. Asia-Pacific held the premier market share in 2018 and is expected to sign-up the best CAGR all through the forecast time period. Europe accounted for the 2nd-most significant current market share in 2018, which is further trailed by North America. The Latin American and the Center East & African marketplaces are predicted to witness development in the course of the forecast period.
Some of the important players operating in the world automotive OEM coatings current market are PPG Industries Inc (US), Nippon Paints Holdings Co., Ltd (Japan), BASF SE (Germany), Axalta Coating Systems Ltd (US), Akzo Nobel N.V. (The Netherlands), Covestro AG (Germany), Berger Paints India Ltd (India), Kansai Paint Co., Ltd (Japan), The Sherwin-Williams Corporation (US), The Lubrizol Corporation (US), KCC Company (South Korea), and Esdee Paints Ltd (India).
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