Automotive Coatings Market Size Set to Exceed $28 Billion by 2022: Global Market Insights, Inc.

Automotive coatings market size was calculated at 3.76 million tons in 2014, as per the latest research report by Global Market Insights, Inc. Increase in consumer preference to safeguard the vehicle from foreign particles, UV radiation, extreme temperature conditions and acid rain will boost global automotive coatings market size. Key attributing factors, aesthetic appearance and durability, also play significant role in influencing consumer preference.

Automotive coatings market size is set to register USD 28.3 billion by 2022. Automotive refinish coatings market will positively influence demand owing to increase in number of vehicle body and repair shops for damage recovery & timely maintenance.

Solvent borne coatings dominated the demand by accounting over 43% of the total volume in 2014. Solvent borne technology is predicted to sluggishly grow owing to stringent measures taken by regulators to curb VoC emissions, particularly in the U.S. and EU.

In the U.S., manufacturers of paints & coatings should comply with regulations levied by EPA. This has led to increase usage of waterborne, powder and UV-cured coatings.

Key raw materials, titanium oxide, additives, pigments and resins face supply imbalance and price fluctuations, which may affect costing and result in upswing of automotive coating market price.

Technology innovation towards reducing manufacturing costs and enhancing product performance may provide new growth opportunities and increase industry profitability.

To access sample pages or view this report in detail along with the table of contents, please on click the link below:

https://www.gminsights.com/industry-analysis/automotive-coatings-market

Key insights from the report include:

Global automotive coatings market size is forecast to grow at 4.9% CAGR and reach 5.51 million tons by 2022.

Basecoat automotive coatings demand was largest and accounted for over 38% of the total demand in 2014. Basecoat products, mainly...