DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/rsl4s5/global_automotive) has announced the addition of the "Global Automotive Refinish Coatings Market 2015-2019" report to their offering.
The analysts forecast the Global Automotive Refinish Coatings market to grow at a CAGR of 3.94 percent over the period 2014-2019.
This report covers the present scenario and the growth prospects of the Global Automotive Refinish Coatings market for the period 2015-2019.
Automotive coatings are products that enhance the appearance and durability of a vehicle by protecting it from external factors such as UV radiation, extreme temperatures, and foreign particles such as stones, rubble, and debris. Automotive refinish coatings are used in the Automotive OEM Aftermarket industry for vehicle repairs and refinishing. The major end-users of automotive refinish coatings are collision repair centers and automotive body shops. The major success determining factors of the market include reliability, OEM color matching, strong distribution network, quick cycle times, and sustainability.
One of the key trends emerging in the market is a growing preference for water-based refinish coatings. As water-based refinish coatings have low volatile organic compound content, their use is particularly high in geographies such as Europe and North America, where environmental regulations are rigorous.
According to the report, the growing number of vehicles in operation in countries such as India, China, Brazil, and Russia is predominantly contributing to the growth of the market. Poor road safety standards and infrastructure in these countries, along with careless driving has increased the rate of accidents, resulting in demand for refinish coatings from automotive body shops and collision repair centers
Further, the report states that the market relies heavily on global economic conditions. Consumers spend less on automobile repair and refinish during economic downturns. The rising costs of raw materials such as polymers, cellulosics, adhesion promoters, titanium dioxide, epoxy resins, and related solvents is posing hindrances to market growth.
It also provides data on the different segments of the Global Automotive Refinish Coatings market, based on the following:
- Vehicle age (>10 Years, 5-10 Years, and <5 Years)
- Product type (Urethanes, Acrylics, and Others)
- Technology (Solvent-based Coatings, Water-based Coatings, and Powder Coatings)
- Geography (APAC, Americas, and EMEA)
- Axalta Coating Systems
- PPG Industries
- Sherwin Williams
Other Prominent Vendors
- Bayer Material Science
- Kansai Paint
- Matrix System Automotive Finishes
- Nippon Paint
- NOROO Paint & Coatings
- SEM Products
- The Sherwin-Williams
- The Valspar
For more information visit http://www.researchandmarkets.com/research/rsl4s5/global_automotive