Automotive Specialty Coatings Market to Reach Over $4.43 Billion by 2028 - Exclusive Report by Vantage Market Research

·8 min read

WASHINGTON, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The Global Automotive Specialty Coatings Market size is expected to reach over USD 4.43 Billion by 2028, exhibiting a CAGR of 3.7% during the forecast period.

Market Synopsis

The major factor responsible for witnessing the significant growth of the market is an increasing demand of the consumers for the improved performance and durability of the automobiles and thereby, increasing vehicle production. In addition, the rising focus on the appearance of the vehicle by the most millennial population led to propel the market growth. However, the rising demand for the utilization of the battery vehicle and the introduction of engine downsizing are factors expected to restrain the market growth, states Vantage Market Research, in a report, titled “Automotive Specialty Coatings Market by Application (Engine exhaust, Interior, Transmission, Wheels), by Technology (Solvent-borne, Water-borne, Powder), by Resin (PU, Epoxy, Acrylic, Substrate), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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  • In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.

  • Impact Analysis 170+ Pages Research Report (Including latest research)

  • Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.

  • Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Vantage Market Research methodology.

(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)

List of Prominent Players in the Automotive Specialty Coatings Market:

  • KCC (South Korea)

  • Nippon Paint (Japan)

  • PPG (US)

  • Axalta (US)

  • BASF (Germany)

  • AkzoNobel (Netherlands)

  • Kansai (Japan)

  • Sherwin Williams (US)

  • Covestro (Germany)

  • DOW Chemical (US)

  • Solvay (Belgium)

Market Dynamics:

Driver: Growth in Technological Advancements and Electronic Industry

Rise in demand for compact size and high speed of electronic products have facilitated the need of Automotive Specialty Coatings technology. Additionally, module size reduction coupled with improved thermal and electrical performance are the major requirements of products which are portable electronic devices such as digital camera & camcorders, smartphones, wearable electronics, household electronics, and laptops & tablets. Moreover, IoT earns popularity in the sector, and is considered as a new wave of technology.

Regional Trends:

Asia Pacific is likely to dominate the market for Automotive Specialty Coatings (SIP) owing to the increasing application of the technology especially, from consumer electronics industry along with popularity of several market players in the region. Furthermore, North America market for Automotive Specialty Coatings is expected to rise at the highest CAGR in the forecast period. The region has been active in the area of superconductivity from the beginning and is also consistently making enhancements in this technology.

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Key Findings

  • Wire Bond to hold a Significant Share: Based on interconnection technology segment, the Wire Bond segment led the market in terms of revenue globally, and is likely to follow this trend in the coming years. The Flip Chip segment is also anticipated to witness huge growth owing to a rise in demand in consumer electronics sector for integrated chips.

  • Consumer Electronics to hold a Significant Share: Based on application segment it is divided into Consumer Electronics, Industrial, Automotive & Transportation, Aerospace & Defence, Healthcare, Emerging & Others, the consumer electronics segment dominated the market in terms of revenue contribution, owing to rising demand for IoT and portable electronic gadgets demand globally.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?

  • Which are the top five players of the Automotive Specialty Coatings Market?

  • How will the Automotive Specialty Coatings Market change in the upcoming six years?

  • Which application and product will take a lion’s share of the Automotive Specialty Coatings Market?

  • What are the Automotive Specialty Coatings market drivers and restrictions?

  • What will be the CAGR and size of the Automotive Specialty Coatings Market throughout the forecast period?

COVID-19 Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Automotive Specialty Coatings Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic

    1. North America

    2. Europe

    3. Asia Pacific

    4. Latin America

    5. Middle East & Africa

  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

  3. Key Strategies Undertaken by Companies to Tackle COVID-19

  4. Long Term Dynamics

  5. Short Term Dynamics

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The report on Automotive Specialty Coatings Market highlights:

  • Assessment of the market

  • Premium Insights

  • Competitive Landscape

  • COVID Impact Analysis

  • Historic Data, Estimates and Forecast

  • Company Profiles

  • Global and Regional Dynamics

This market titled “Automotive Specialty Coatings Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Report Attribute

Details

Market Size in 2021

USD 3.43 Billion

Projected Market Size in 2028

USD 4.43 Billion

CAGR Growth Rate

CAGR of 3.7% from 2022–2028

Base Year

2021

Historic Years

2016 – 2020

Forecast Years

2022 – 2028

Segments Covered

Application: - Engine exhaust, Interior, Transmission, Wheels

Technology: - Solvent-borne, Water-borne, Powder

Resin: - PU, Epoxy, Acrylic, Substrate, ICE, Electric & hybrid vehicle

Quantitative Data - Units

Revenue in USD Million/Billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Browse market data Tables and Figures spread through 180 Pages and in-depth TOC on "Automotive Specialty Coatings Market by Application (Engine exhaust, Interior, Transmission, Wheels), by Technology (Solvent-borne, Water-borne, Powder), by Resin (PU, Epoxy, Acrylic, Substrate), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/automotive-specialty-coatings-market-242637

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