The market scale of the hottest automotive coating

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The market scale of automotive coatings will exceed $26.5 billion by 2024

the market scale of automotive coatings will exceed $26.5 billion by 2024

August 29, 2019

according to the latest research report of global market insights, the market scale of automotive coatings is expected to exceed $26.5 billion by 2024

at this stage, steel mills' insufficient willingness to raise purchase prices again, increased environmental problems and changing consumer views on environmental sustainability are driving the demand for low VOC emission vehicles, which may promote the growth of the automotive paint market. The growing consumer demand for sports aesthetics and style, as well as the demand for UV, chemical resistance, corrosion resistance and durability, and the increasing automobile sales may lead to the market demand for coatings. A shift in consumer perceptions of durable and minimal maintenance vehicles may accelerate market growth

the ever-changing views of consumers on owning personal vehicles and public transport, as well as the increasing consumption of luxury, aesthetics, appearance and comfort, have led to the growth of automobile production. With the improvement of consumers' living standards, the growth of the middle class population and the increase of purchasing power parity may promote the growth of the industry. Many participants participate in product differentiation and cooperation with international participants, accompanied by various developments in manufacturing technology. Quality management processes such as lean production and automated total quality management have promoted global automotive production, thereby increasing the demand of the automotive coating market

automotive paint market

by 2024, the global water-based paint market will exceed US $10.5 billion. The increase of automobile production and per capita disposable income in China, India, Japan and South Korea may trigger product demand. Changing consumer preferences for fuel-efficient and light-weight vehicles should drive market size. Rising luxury cars need protective and gloss coatings to protect vehicles from corrosion, because extreme temperature changes, foreign particles, acid rain and UV radiation will stimulate industry growth. Automobile manufacturers improvise vehicles, which can quickly form an invisible film on the skin surface, focusing on the manufacture of light vehicles, which will increase product demand

the market share of automotive coatings in the United States for metal applications may increase significantly by more than 3.5% in the forecast period. Due to the improvement of living standards and the continuous changes of consumers' aesthetic characteristics of simplicity, the demand for luxury cars is increasing, resulting in the increase of market scale. By reducing the weight to promote the strong application of the automotive industry, so as to promote the growth of demand for energy-saving vehicles, which will promote the growth of the industry

the demand for plastic applications in the German automotive coating market is expected to reach US $542.4 million by 2024. The EU strictly stipulates that reducing VOC emissions and low operating costs will lead to market growth. Improving the durability and appearance of vehicles by preventing the sensitivity of the external environment from changing the prospects of consumers may stimulate market demand. Due to low temperature, solvent-free preparation and high chemical resistance, the increasing demand for waterborne automotive coatings may enhance the demand for products. Increasing awareness of green environmental protection measures and the tendency of low toxic products may promote product demand

the size of India's automotive coating industry for automotive touch up paint may increase by more than 5% at the end of the forecast period. The rising trend of technology to improve fuel efficiency by reducing vehicle weight may promote market growth. India has a strong automobile production base and is likely to remain a leading manufacturer in the near future. Most manufacturing base companies, including Tata, Fiat, Skoda, Toyota, Hyundai and Audi, have moved to India because of affordable labor forces. The increasing demand for luxury cars with protective and aesthetic coatings to protect cars from corrosion may accelerate the automotive paint market and create opportunities for more industry peers to understand! Share of

clariant, Nippon, BASF, Sherwin Williams, Arkema, kkc, Berger paints, Cabot Corporation, Solvay and Kansai paints are major industrial players. The company is committed to increasing its product portfolio and expanding its geographical distribution by modifying its manufacturing technology under strict regulatory conditions

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