The Global Automotive Paints and Coatings Market is estimated to exhibit a CAGR of 5.70% during the forecast period of 2021-2028 and will reach USD 22,386.08 million by the year 2028. Rising personal disposable income is another indirect growth determinant for the market.However, rising cost of automotive paints and coatingswill create hindrances in the way of market growth. Volatility in the prices of raw materials will further challenge the automotive paints and coatings market growth. Fluctuating prices of raw materials will make it difficult to source them.
According to Data Bridge Market Research, the automotive paints and coatingsmarket will exhibit a significant rise in its market value. Upsurge in the automobile production has propelled the demand for automotive paints and coatings. Rising number of daily vehicle accidents has further boosted the demand for automotive paints and coatings. Focus on production of eco-friendly paints will further create lucrative growth opportunities for the automotive paints and coatings market.
Currently, Asia-Pacificdominates the global automotive paints and coatings market in terms of market share and market revenue owing to the rising per capita income and vehicle affordability will further propel the demand for automotive paints and coatings. Setting up of manufacturing units by the major players in this region owing to the availability of abundant raw materials and cheap labour is another market growth determinant.
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The global automotive paints and coatingsmarket is segmented on the basis of countries into U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Competitors Covered in Automotive Paints and CoatingsMarket report
Above are the key players covered in the report, to know about more and exhaustive list of automotive paints and coatingsmarketcompanies contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-automotive-paints-and-coatings-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Automotive Paints and Coatings Market – Industry Trends and Forecast to 2028