Market Analysis: Global Automotive Speciality Coatings Market
Global Automotive Speciality Coatings Market is expected to rise from its initial estimated value of USD 2.97 billion in 2018 to an estimated value of USD 3.85 billion by 2026, registering a CAGR of 3.31% in the forecast period of 2019-2026. Advancement in the coating technology is the major factor for the growth of this market.
Market Definition: Global Automotive Speciality Coatings Market
Automotive coatings are used on automobiles for the purpose of protection and decoration. They are used to provide the protection from environment and durability. The waterborne coatings have low VOC level due to which they have low toxicity and flammability. They are used to offer high performance at high temperature and to protect against corrosion.
- Increasing production of the vehicles worldwide is driving the market
- Increasing demand for specialty coating among consumer is driving the market.
- Increase in the fuel cell electric vehicle and battery electric vehicle is the major factor restraining the growth of this market.
Segmentation: Global Automotive Speciality Coatings Market
- By Applications
- Engine & Exhaust
- Wheel Rims
- By Type
- Solvent- Borne
- Powder Coatings
- By Resin Type
- By Substrate
- By Electric & Hybrid Vehicle Type
- By Vehicle Type
- Passenger Car
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In August 2018, Ferrari introduced their new low temperature system, which makes the Prancing Horse the world’s first manufacturer to adopt low cure clear coats technology. This new paint system reduces the energy cost and enhances sustainability as it has formulated clear coat which makes it possible for the car to bake at 100 degree instead of 150 degrees.
- In January 2019, Nippon Paint announced the launch of their unique car painting and car care centre concept- Nippon Paint X’press in India. This will provide world class body and paint repair and car care services.
Global automotive speciality coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive speciality coatings market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the automotive speciality coatings market are Akzo Nobel N.V., Axalta Coatings Systems, Cabot Corporation, Carboline Company, Coolshield International Pty., Ltd, Delta T & Protective Products, Excel Enterprise, General Coatings, Jotun, Kansai Nerolac Paints Limited, Lincoln Industries, Mascoat, Mathur Corr Tech Private Limited, Nippon Paint Holdings Co., Ltd., Sharpshell Industrial Solutions.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted 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 inquiry.
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, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved