What is Automotive Specialty Coatings Market Scope?
Automotive coatings are used on automobiles for the purpose of protection and decoration. They are used to provide the protection from the environment and durability. The waterborne coatings have low VOC levels due to which they have low toxicity and flammability. They are used to offer high performance at high temperatures and to protect against corrosion.
The Automotive Specialty Coatings market study is being classified, by Application (Engine & exhaust, Interior, Transmission, Wheel rims and Others) and major geographies with country level break-up.
The Automotive Specialty Coatings market seems to be 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 specialty coatings market for global, Europe, North America, Asia Pacific, South America, and Middle East & Africa. Research Analyst at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Automotive Specialty Coatings market throughout the predicted period.
PPG (United States), Axalta (United States), AkzoNobel (Netherlands), BASF (Germany), Sherwin Williams (United States), Kansai (Japan), Covestro (Germany), Solvay (Belgium), DOW Chemical (United States) and Nippon Paint (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are KCC (South Korea).
Analyst at AMA have segmented the market study of Global Automotive Specialty Coatings market by Type, Application and Region.
On the basis of geography, the market of Automotive Specialty Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
n January 2019, Nippon Paint announced the launch of their unique car painting and car care center concept- Nippon Paint Xpress in India. This will provide a world-class body and paint repair and car care services.
Influencing Market Trend
- The trends towards the development of advanced transmission systems, such as automated manual transmission (AMT)
- Increasing Vehicle Production to Fuel the Global Market
- Increasing Number of Coating Applications to Increase the Demand for Specialty Coatings
- Increasing Sales of Premium Vehicles
- Growing Trends of Engine Downsizing
- Increasing Sales of BEV
- The stringency of the Volatile Organic Compound (VOC) Regulations
Key Target AudienceGovernment Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
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