Automotive OEM Coatings Market

Global Automotive OEM Coatings Market by Product Types, Resin Types, Layers, Vehicle Types, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026.

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The global automotive OEM coating market was valued at USD 6 billion in 2019 and is projected to reach over USD 9 billion by 2026, expanding at a CAGR of more than 6% during the forecast period, 2020–2026. The growth of the market is attributed to the rising automotive industries worldwide.

Request for sample@ https://dataintelo.com/request-sample/?reportId=74203 Automotive coatings are utilized to coat car surfaces and show the inventive innovations which are capable in manufacturing tough surfaces, expanding in general vehicle productivity while meeting natural guidelines. Car OEM coatings improve the general appearance and strength of a vehicle and aides in shielding it from extraordinary temperatures, UV radiation, and foreign particles.

Market Trends, Drivers, Restraints, and Opportunities: ● Rising per capita disposable income of people is driving the growth of the market. ● Growing urbanization leading to change of lifestyle is a favourable factor driving the market growth. ● Rising cost of raw materials has increased the cost of production which in turn is acting as a restraint for the growth of the market. ● Increasing environmental regulations regarding use of toxic chemicals is a restraint in the market growth. ● The unexplored markets of emerging economies and the use of latest technologies are opportunities for the growth of the market.

Enquiry Before Buying@ https://dataintelo.com/enquiry-before-buying/?reportId=74203 Competitive Landscape: Some of the other key players operating in the market include BASF SE, Axalta Coating Systems, PPG Industries Inc., Kansai Paint Co. Ltd, and Nippon Paint Holdings Co. Ltd. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.

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