Dallas, Texas (PRWEB) June 09, 2014
A growing preference for water-based coatings is expected to drive market growth during the forecast period. An increase in the demand for such products can be attributed to stringent environmental regulations, particularly in geographies such as North America and Europe. The main aim of such regulations is to reduce volatile organic content in coatings; consequently, there has been a decrease in demand for solvent-based coatings. Although water-based coatings have certain limitations such as low chemical resistance, surface performance, and flexibility, low resistance to low temperatures, and high drying time, vendors are trying to improve these products.
According to the report, many factors are contributing to the growth of the Global Automotive Refinish Coatings market, of which an increase in the number of operating vehicles in countries such as India, China, Brazil, and Russia is the most important driver. Poor road safety standards in these countries have increased the rate of accidents, and therefore the demand for automotive refinish coatings from automotive body shops and collision repair centers.
This report covers the present scenario and the growth prospects of the Global Automotive Refinish Coatings market for the period 2014-2018.
To arrive at a ranking for the leading vendors in the market and to calculate market size, the report considers the revenue generated by vendors through the sales of automotive refinish coatings. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors in the Global Automotive Refinish Coatings market. It also provides data on the different segments of the Global Automotive Refinish Coatings market, based on:
- Vehicle Age
- Product Type
In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
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Global Automotive Refinish Coatings Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the EMEA and APAC regions.
- Increase in Number of Operating Vehicles.
- Negative Impact of Recession.
- Growing Preference for Water-based Products.
Further, the report states that the unfavorable effect of the global economic recession is one of the major challenges. This has resulted in a reduction in consumer spending on automobile repairs and refinishing.
The report recognizes the following companies as the key players in Global Automotive Refinish Coatings Market: AkzoNobel NV, Axalta Coating Systems LLC, BASF SE, PPG Industries Inc., 3M Co., Bayer Material Science AG, Kansai Paint Co. Ltd., KCC Corp., Matrix System Automotive Finishes LLC, Nippon Paint, NOROO Paint & Coatings Co. Ltd., SEM Products Inc., The Sherwin-Williams Co., The Valspar Corp.
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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