Bulkchemicals Market Reports Global Automotive Coatings Market | Page 2

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The product sector of the automotive coatings market comprises electrocoat, primer, clearcoat, and
basecoat. The basecoat sector led the market and is projected to have significant growth during the forecast
period (from 2016 to 2024). Electrocoats are likely to drive the market since they are anti -corrosion and anti-
rust agents. The demands for clearcoat are estimated to grow as it provides protection against sun and UV
rays.
Application-wise, the metal sector dominated the industry and it is further expected to witness huge growth
in the near future. Plastic coatings are projected to be the fastest-growing application sector due to its
increasing usage in automobile manufacturing as it is flexibility, lightweight, corrosion-resistant, durable,
cost-effective, and recyclable.
Light vehicle OEM led the end-use sector in 2015 and it is said to experience a considerable growth during
the next few years. The automotive refinish sector is likely to have rapid growth on account of growing
consumer spending levels in developing economies of the APAC region.
Asia-Pacific was the dominant regional market in 2015. The region is projected to experience rapid growth
with a CAGR of over 6 % over the estimated years. Europe is likely to drop its market share in the automotive
refinishes sector to APAC due to lesser accident levels in the region. The Middle East & Africa will also have
huge growth as a result of rising production facilities in the region.
The key players of the automotive coatings market include Axalta Coating Systems; PPG Industries; Jotun A/S;
BASF SE; AkzoNobel N. V.; and Kansai Paint Co. Ltd.
Browse Related Category Market Reports @
https://www.hexaresearch.com/research-category/paints-coatings-and-printing-inks-industry
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