DUBLIN, Ireland – A new report on the global market for automotive refinish coatings has been added to ResearchAndMarkets.com's offering. The report estimates the market for automotive refinish coatings to have reached $7.8 billion in 2016, in terms of value, and expects the market to register a compound annual growth rate (CAGR) of 5.3% from 2016 to 2021, also in terms of value. In terms of volume, the report expects the global automotive refinish coatings market to register a CAGR of 4.5% between 2016 and 2021.
The growth is attributed to rising disposable income, increasing number of vehicle collisions, growing demand for recreational vehicles, and an increase in the average age of vehicles, among others. However, stringent regulations for VOC emissions and lack of skilled professionals are some of the factors hampering the growth of the global automotive refinish coatings market.
The development of environment-friendly technologies, increasing number of rental car owners and used car markets, and growing demand from the emerging economies such as China, India, Japan and Brazil, among others, are expected to create opportunities for the growth of the global automotive refinish coatings market.
For additional information about this report, "Global Automotive Refinish Coatings Market: Focus on Product Type (Clearcoats, Basecoats, Primer & Filler), Technology (Solventborne, Waterborne, UV Cured), Resin Type, Automotive Type and Vehicle Age – Analysis and Forecast: 2017 to 2021," visit https://www.researchandmarkets.com/research/st9g5x/global_automotive?w=12