New Study Covers the Market for Automotive Refinish Coatings
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.