AUTOMOTIVE COATING RESIN MARKET ANALYSIS

Regional Analysis

Market Outlook

Owing to the rapidly expanding economy, in addition to industrialization and increasing disposable income in countries such as China and India, the Asia Pacific region is expected to be the fastest growing market for automotive coating resin. Another reason for Asia Pacific contributing the highest market share is that it has presence of key international car manufacturers, as well as local companies engaged in manufacturing of coating resin. Europe is expected to closely follow Asia Pacific in terms of demand for automotive coating resins, owing to a rapid recovery by the European automobile industry from the recession that had affected the industry in 2009. Demand for coating resins that are environmentally friendly are expected to witness a high demand in the North America market, owing to strict regulations implemented by regional regulatory agencies.