2014-01-30 05:19:01 - Global Automotive Coatings Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Automotive Coatings market is to grow at a CAGR of 5.89 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in automotive production and sales. The Global Automotive Coatings market has also been witnessing the increasing demand for high-performance coating. However, increasing government regulations and norms could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global Automotive Coatings market is the increasing demand for metallic coating The Global Automotive Coatings market is expected to witness increasing demand for metallic coating in the coming years. It is estimated the demand for metallic coatings is high as compared to non-metallic coating, and the
popularity of metallic colors continues to grow. Hence, meeting consumer demand for new effects is a major challenge impaired by environmental and processing effects. Therefore, the popularity and the demand for metallic colors have intensified the need for on-going research and development in the areas of appearance and performance.
One of the main factors driving the market is the increase in automotive production and sales. Automobile production is expected to largely take place in Asia and European countries over the coming years to meet the rising demand for automobiles in emerging markets.
One of the main challenges is the increasing Government regulations. The Global Automotive Coatings market is witnessing increasing government regulations in both developing and developed countries, encouraging recyclability as a mean to address both energy costs and environmental issues.
The key vendors dominating this space include BASF SE, E. I. du Pont de Nemours and Co., Kansai Paint Co. Ltd, and PPG Industries Inc.
The other vendors mentioned are Akzo Nobel N.V, KCC Corp., and Noroo Paint Coatings Co. Ltd.
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