AUTOMOTIVE COATINGS MARKET ANALYSIS

Regional Analysis

Emerging nations such as India and China are likely to witness the fastest growth in terms of automobile production, which in turn is expected to drive demand for automotive coatings in Asia Pacific. Asia Pacific is projected to emerge as the largest and fastest growing market for automotive coatings owing to presence of key players in the region, and also due to the highest amount of automobiles that are manufactured in the region annually. Europe is likely to witness significant growth over the forecast period and emerge as the second largest market for automotive coatings. However, owing to the rapidly expanding automotive industry, and a large demand for automotive coatings, North America may surpass Europe in terms of market share. Changing lifestyle and growing disposable income in regions such as Asia Pacific and Latin America, is expected to result in a large demand for luxury cars. Increasing number of regulations and guidelines issued by environmental agencies in Europe and North America is expected to drive demand for waterborne coatings.

Market Outlook

Emerging nations such as India and China are likely to witness the fastest growth in terms of automobile production, which in turn is expected to drive demand for automotive coatings in Asia Pacific. Asia Pacific is projected to emerge as the largest and fastest growing market for automotive coatings owing to presence of key players in the region, and also due to the highest amount of automobiles that are manufactured in the region annually. Europe is likely to witness significant growth over the forecast period and emerge as the second largest market for automotive coatings. However, owing to the rapidly expanding automotive industry, and a large demand for automotive coatings, North America may surpass Europe in terms of market share. Changing lifestyle and growing disposable income in regions such as Asia Pacific and Latin America, is expected to result in a large demand for luxury cars. Increasing number of regulations and guidelines issued by environmental agencies in Europe and North America is expected to drive demand for waterborne coatings.

Geographies Covered

Asia Pacific, Europe, North America, Latin America