The MarketWatch News Department was not involved in the creation of this content.
Dec 04, 2020 (Market Insight Reports) —
Selbyville, Delaware Global Automotive Paint Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Automotive Paint Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Automotive Paint market and provides information regarding the revenue for the period 2020 to 2027.
Global Automotive Paint Market is valued approximately USD 9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 2.88 % over the forecast period 2020-2027. Automotive paint is called a water-based solution which is sprayed on the surface of automobiles with the assistance of a spray gun. These paints are made of polyurethane-based enamel, which protects the automotive surface from damage to the environment, thus enhancing motor vehicle aesthetics. The main factors driving the growth of the global automotive paint market are increased automotive production, stringent emission regulations and environmental concerns for paint manufacturing process to enhance the market for eco-friendly paints.
Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/2942087/?utm_source=Marketwatch.com&utm_medium=AN
The rise in the number of road accidents is one of the main concerns for automobiles and governments. According to the National Highway Traffic Safety Administration (NHTSA), in 2016, total deaths due to road accidents in the US were just 37,461, which rose by 5.6 per cent from 2015. Additionally, the automotive industry is seeing a dramatic shift in safety technology. The demand for safety features is expected to develop rapidly in the years to come. As vehicle and passenger safety issues grow, cars are now fitted with advanced and smart technology. However, rising raw material prices to produce automotive paints are hampering the demand.. On the contrary, an increase in emphasis on producing cost-effective automotive paints is expected to offer the lucrative opportunities in the market.
The regional analysis of global Automotive Paint Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Strict pollution regulations and environmental issues for paint manufacturing processes to boost the demand for environmentally friendly paints. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increase the presence of organised players in the finishing industry to drive the market for automotive finishing would create lucrative growth prospects for the Automotive Paint Market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of