Automotive Refinish Market–Latin America Industry Analysis, Size, Share, Growth, Trends and Forecast

Automotive Refinish Market–Latin America Industry Analysis, Size, Share, Growth, Trends and Forecast The Latin America Automotive Refinish market was valued at USD 835.3 Million in 2019 and is projected to reach USD 1,021.8 Million by 2027, expanding at a CAGR of 4.1% during the forecast period. The demand for automotive refinish is growing as disposable income of people in Latin America is on the rise.

Latin America is experiencing rapid urbanization in the last decade. This is encouraging people to migrate to the cities from the rural areas. Cities are seeing sudden growth in population and rise in the number of vehicles. Most cities in Latin America have colonial architecture with narrow roads. This is making the circulation of vehicles hard in today’s age. Lack of proper planning of roads and increasing vehicles on the streets are fueling the number of collisions.

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Market Trends, Drivers, Restraints, and Opportunities       

In-depth Analysis of the Latin America automotive refinish market.

Historical, Current and Projected Market Size in terms of Value.

Potential & Niche Segments and Regions Exhibiting Promising Growth Covered Industry Drivers, Restraints and Opportunities Covered in the Study Recent Industry Trends and Developments Competitive Landscape & Strategies of Key Players Neutral Perspective on Latin America Automotive Refinish market Performance

Market Segment Insights:

By Product Types Segment In terms of Product Type, the Latin America automotive refinish market is segmented as Primer, Basecoat, Fillers, Topcoat, others. The topcoat segment accounts for a major share of the market and is anticipated to expand at a considerable CAGR during the forecast period. The growth of the topcoat segment is due to the fact that these coats are used as final coats on body of vehicles. Topcoats seals the paint and protects it from external factors such as rain wind, snow and UV radiation. Basecoat segment is growing following the topcoat segment. This segment is growing as it is used to get smooth finish on the vehicles body before painting it.

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Competitive Landscape 

Key players in the market include 3M, AkzoNobel, Axalta Coating Systems, LLC, BASF SE, Covestro AG, KAPCI Coatings, Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., The SherwinWilliams Company, Roberlo, Cabot Corporation, Kansai Paint Co. Ltd, Mitsui Chemicals, NOROO Paint and Coatings, Sinteplast. These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.

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