Automotive coatings are utilized to coat the surfaces of automobiles and demonstrate the futuristic technologies, which are capable of manufacturing durable surfaces, maximizing entire efficiency while meeting environmental norms. Moreover, they improve the complete durability and appearance of a vehicle and also protection it from UV radiation, extreme temperature, and foreign particles.
According to the report analysis, ‘Global Automotive OEM Coatings Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)’ states that Valspar Corporation, Beckers Group, Clariant AG, Cabot Corporation, Lord Corporation, Eastman Chemical Company, Solvay S.A, Royal DSM, Deft, Inc., Berger Paints, Jotun A/S and many more are the foremost companies which presently working in the global automotive OEM coatings market more proficiently over the review period more proficiently for registering the great value of market share, generating the highest percentage of revenue, leading the highest market growth, obtaining the competitive edge and keep maintaining the governing position by analysing the strategies and policies of government as well as contenders, implementing the policies of profit making and strategies of expansion, establishing the several research and development programs, improving the qualitative and quantitative measures of such, increasing the features and benefits of automotive OEM coating, spreading the awareness connected to the applications and advantages of automotive OEM coating, delivering the better customer satisfaction and decreasing the associated prices of such.
The passenger cars segment proposes the maximum market potential in the automotive OEM coatings market, due to augment in requirement for passenger cars and general utility vehicles around the globe with growth in public transportation expenditure and augment in inclination of consumers towards efficient and easy transportation requirement boost the overall requirement for automotive OEM coatings in the passenger cars segment. The usage of automotive OEM coatings in light commercial vehicles has witnessed foremost developments, due to constant growth in per capita disposable incomes and augment in requirement for commercial utility vehicles. The passenger cars segment is projected to register a CAGR during the forecast duration. However, augment in concerns connected to the environmental hazards associated with the solvent-borne automotive coatings may affect the complete the market growth in the developed and the developing countries, but investments in R&D in new production alternatives are projected to deliver the opportunities for growth in the future.
The speedy urbanization and upsurge in personal mobility requirements are projected to boost market growth. Automotive OEM coatings possess benefits such as higher reliability, longer equipment life cycle, maintenance cost deduction, and low toxic emissions. Moreover, the augment in the public transportation expenditure and adaption of the automotive coating by end-users are some aspects imposing a positive outlook on the market growth.
Also, an augment in the consumption of powder coatings, due to its excellent characteristic properties, such as lowering emissions of volatile compounds and comparatively thicker layer as associated to traditional automotive coatings, is projected to drive the global Automotive OEM Coatings Market. Therefore, it is predicted that during the near period the market of automotive OEM coating will augment more proficiently over the review period.
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Global Automotive OEM Coatings Market
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