According to the research report titled ‘Automotive Paints & Coatings Market Size By Vehicle (Light Commercial Vehicles, Heavy Commercial Vehicles, Passenger Cars), By Coating Type (Primer, Basecoat, Clearcoat, Electrocoat), By Technology (Waterborne, Solvent-borne, Powder, UV Curved), By Texture (Solid, Metallic, Matte), By Distribution Channel (OEM, Aftermarket), By Raw Material (Polyurethane, Epoxy, Acrylic, Other Resins) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026,’ available with MarketStudyReport, global automotive paints & coatings market is poised to log an upward growth curve during 2020-2026.

Presence of several original equipment manufacturers (OEMs), surging investments in advanced paint technologies, and an uptick in the sale of refurbished & used vehicles are variables contributing to the expansion of global automotive paints & coatings market.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/1984510/

Moreover, huge demand for primers which are used to make the surface corrosion-resistant, and introduction of sustainable solutions by manufacturers with advanced formulations having environment-friendly nature are creating remunerative prospects for stakeholders in the business sphere.

On the contrary, frequent fluctuations in the prices of raw materials, combined with the issues revolving around composite components & painting plastic are factors likely to pose a threat to the growth of industry during the review period.

In terms of coatings, the primer segment is expected to rise at 4.5% CAGR during the forecast period, due to its ability to provide corrosion-resistant characteristic to vehicle structures. It also prevents chipping and offer smoother finish.

Based on technology, the solvent-borne vertical of worldwide automotive paints & coatings industry is estimated to account for 40% revenue share by the end of analysis period, given its superior durability and high tolerance when it comes to severe climatic conditions. 

As per texture type, the solid segment is speculated to record 4.5% CAGR during the projected timeframe, owing to superior coverage. 

For raw materials, the acrylic vertical is anticipated to observe robust development during 2020-2026, owing to its properties like longevity, durability, and cost-effectiveness. 

Concerning regional aspect, Latin America market is slated to expand at 4.5% CAGR during the assessment timeframe, owing to the soaring income level of consumers, coupled with rapid urbanization propelling the development automotive sector to a great extent. 

The established companies in global automotive paints & coatings industry include Akzo Nobel NV, Wanda Refinish, The Valspar Corporation, Axalta Coating Systems Ltd., PPG Industries Inc., BASF SE, Nippon Paint Holdings Co. Ltd., Cabot Corporation, Kumkang Korea Chemicals Co. Ltd., Clariant AG, Kansai Paint Co. Ltd., Covestro AG, Eastman Chemical Company, Donglai Coating Technology, and DuPont de Nemours Inc. among others.