Automotive Paints and Coating Market Assessing the Risks and Rewards of Investing in the Market in 2023

According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3 percent. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

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What is the Future Outlook of Automotive Paints and Coating Market?

The future outlook of the Automotive Paints and Coating market entails an analysis of its size, segmentation (including product type, application, and geography), competitor landscape, current status, and emerging development trends. Additionally, the report offers strategic insights to assist companies in navigating the challenges presented by the COVID-19 pandemic.

The global automotive paints and coating market was valued at USD 17 Billion in 2021 and projected to reach USD 25.18 Billion by 2030, growing at a CAGR of 6.1% over the forecast period 2022-2030.

A shift in consumer preference for attractive paint textures and improved vehicle aesthetics is helping the market expand. An increase in the automobile and the rising number of daily vehicle accidents are the major factors restoring the growth of the global automotive paints and coating industry.

Major market player included in this report are:Axalta coating systemAkzo Nobel NVBASF seBerger paints ltd.Cobot corporationClariant agKansai paint co. Ltd.kcc corporationPPG industries incRPM international incSherwin WilliamsValspar Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

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By VehiclePassenger CarHeavy Commercial VehiclesLight Commercial Vehicles

By Coating TypeBasecoatPrimerElectrocoatClearcoat

By TechnologySolvent BorneWater-BorneUV CurvedPowder

By TextureMetallicSolidMatte

By Distribution ChannelAftermarketOEM

By Raw MaterialEpoxyAcrylicPolyurethaneOther Resins

By Region:North AmericaU.S.CanadaMexicoEuropeUKGermanyFranceSpainItalyRusiaROEAsia PacificChinaIndiaJapanAustraliaSouth KoreaRest of AsiaSouth AmericaBrazilArgentinaRest of South AmericaMiddle East & AfricaUAESaudi ArabiaSouth AfricaRest of MEA

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Furthermore, years considered for the study are as follows:

Historical year – 2017, 2020Base year – 2021Forecast period –2022 to 2030.

Target Audience of the Global Automotive Paints and Coatings Market in Market Study:

Key Consulting Companies & AdvisorsLarge, medium-sized, and small enterprisesVenture capitalistsValue-Added Resellers (VARs)Third-party knowledge providersInvestment bankersInvestors

Table of Content:

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