"Automotive Refinish Coatings Market in APAC 2015-2019" is now available at Fast Market Research

Fast Market Research announces the availability of Technavio's new report "Automotive Refinish Coatings in APAC 2015-2019" on their comprehensive research portal.

Automotive coatings are products that enhance the appearance and durability of a vehicle by protecting it from harsh external factors such as UV radiation, extreme temperatures, and foreign particles such as stones, rubble, and debris. Automotive refinish coatings are used in the automotive OEM aftermarket industry for vehicle repairs and refinishing.

The major end-users are collision repair centres and automotive body shops. The major success determining factors of the market include reliability, OEM colour matching, strong distribution network, quick cycle times, and sustainability.

Technavio forecasts the automotive refinish coatings market in APAC to post a CAGR of 6.03% during 2014-2019.

Get More Details on this Report and a Full Table of Contents at Automotive Refinish Coatings Market in APAC 2015-2019

Commenting on the report, an analyst from Technavio’s team said: "One trend that boosts growth in this market is emergence of vehicle light-weighting and specialized products. The emergence of the light-weighting trend in the automobile sector has led light vehicle OEMs to focus on vehicle weight reduction to improve fuel economy. As a result, new material types such as aluminum, carbon fiber, and plastics are being incorporated in vehicle body and parts instead of steel."

According to the report, recent increase in number of operating vehicles is a major driver that promotes growth in this market. Accelerated economic activity, along with prevailing healthy economic conditions, has led to a rise in consumer spending, thereby creating demand for vehicles in these countries. The growing number of accidents in these countries because of poor infrastructure and road safety standards has led to the enhanced demand for automotive refinish coatings.

Further, the report states that the increase in prices of raw materials is a key challenge faced by this market. Prices of raw materials such as polymers, cellulosics, adhesion promoters, titanium dioxide, epoxy resins, and related solvents have been rising in recent years. In addition, fluctuations in oil prices and shortage of raw materials such as base chemicals for resins have contributed to the rising cost.

The key players in the Automotive Refinish Coatings in APAC are AkzoNobel NV, Axalta, BASF SE, Kansai Paint, Nippon Paint, and PPG Industries. while other prominent vendors include Berger Paints, Color Communications, Jotun, KCC, NOROO, Sherwin-Williams, and Valspar.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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