Kerry Pianoforte, Editor10.03.18
According to a report by BIS Research, “Global Automotive Refinish Coatings Market- Analysis and Forecast (2017-2021),” the global automotive refinish coatings market is expected to reach $10.2 billion by 2021, growing at a CAGR of 5.3 percent between 2016 and 2026. According to the report, the market has considerably evolved in developed regions such as North America and Europe, while gaining usage in Asia-Pacific, Middle East & Africa (ME&A) and South America.
Drivers for this market include growth in emerging markets, which can be attributed to a rising middle class with a growing disposable income, an increase in the number of vehicle collisions, growing demand for recreational vehicles and an increase in the average age of vehicles.
However, stringent regulations for VOC emissions and lack of skilled professionals are some of the obstacles facing the global automotive refinish coatings market.
According to Sonali Mazumdar, research analyst at BIS Research, “Clearcoats segment accounted for the largest share of 40 percent in 2016 in the global automotive refinish coatings market, followed by basecoats...
Drivers for this market include growth in emerging markets, which can be attributed to a rising middle class with a growing disposable income, an increase in the number of vehicle collisions, growing demand for recreational vehicles and an increase in the average age of vehicles.
However, stringent regulations for VOC emissions and lack of skilled professionals are some of the obstacles facing the global automotive refinish coatings market.
According to Sonali Mazumdar, research analyst at BIS Research, “Clearcoats segment accounted for the largest share of 40 percent in 2016 in the global automotive refinish coatings market, followed by basecoats...
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