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Automotive Refinish Coating Market to Reach USD 19,352.3 Million by 2034 as Demand for Personalization in Cars Soars | Future Market Insights, Inc.
https://www.futuremarketinsights.com/reports/sample/rep-gb-413
Growing environmental concerns among consumers are compelling them to prefer eco-friendly products over conventional products. Restrictions imposed by governments over the use of various environment-degrading products also have resulted in the consumer base of the market shifting to eco-friendly refinish coatings.
In North America , governments have imposed strict regulations on the use of solvent-based coatings as these coatings emit VOCs and fumes, which cause diseases and pollute the environment. This is expected to hamper the growth of the automotive refinish industry in the region
Contrary to this, the sales of water-based coatings are expected to grow. Being eco-friendlier, water-based coatings are expected to become the most preferred product type in the automotive refinish coatings market over the forecast period.
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To increase their market position, major players in the market are concentrating on merger and acquisition strategies along with product development. To boost their yearly turnover, they are still boosting their production capacity. For instance:
https://www.futuremarketinsights.com/reports/automotive-refinish-coatings-market
Based on the material type, the automotive refinish coating market is divided into epoxy, polyurethanes, acrylics, and alkyd.
Based on end-use, the automotive refinish coating market can be segregated into OEM and aftermarket.
Based on the technology, the automotive refinish coating market is segmented into solvent-borne and water-borne.
Based on the vehicle type, the automotive refinish coating market is divided into passenger cars, compact, midsize, and luxury.
Based on the product type, the automotive refinish coating market is divided into the primer, base coat, top coat, and clear coat.
Based on commercial vehicles, the automotive refinish coating market is bifurcated into LCV and HCV.
The sector has been analyzed with these regions covered: North America , Latin America , Europe , South Asia , East Asia , Oceania, and the Middle East and Africa .
Heightened Demand from Automotive Sector to Steer Africa Automotive Refinish Coatings Market Past US$ 165.4 Million by 2033
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
The is poised to achieve an impressive valuation of US$ 38,925 million by 2033 featuring a promising CAGR of 7.9% from 2023 to 2033.
The is anticipated to flourish at a healthy CAGR of 4.8% between 2023 and 2033. The market is expected to hold a market share of US$ 17.77 billion by 2033
The is anticipated to garner a modest strength with a CAGR of 5.9% from 2022 to 2032.
The global size is anticipated to reach USD 3159.1 million in 2024 and is expected to attain a value of USD 5145.8 million by 2034.
The global size is estimated to reach a value of USD 11,058.6 million in 2024. Recording a 5.2% CAGR in the assessment period.
The global size is projected to reach USD 2259.6 million in 2024. The sector is further expected to grow at a CAGR of 11.6% during the forecast period.
The value reached USD 558 billion in 2023. Over the forecast period, the value is anticipated to rise at 5.9% CAGR.
The global value reached USD 2145.7 million in 2023. Over the forecast period, the value is anticipated to rise at 4.5% CAGR.
The size is projected to reach USD 432 million in 2024. The industry is further expected to surge at a CAGR of 4.7% during the forecast period.
The global size is estimated to reach USD 38754 million in 2024. The industry is anticipated to rise at a CAGR of 5% in the assessment period 2024 to 2034.
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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