Credence Research states the interest of a new study on Aerospace Engineering Market. The Aerospace Engineering Market is expected to Exhibit Rapid Growth during the Forecast Period. The research report, named “Aerospace Engineering Market- Growth, Future Prospects, and Competitive Analysis, 2018- 2026,” estimates the historical performance and the current standing of this market, emphasizing especially on the dynamics of the need and supply of Aerospace Engineering.
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Overview:
Automotive coatings are employed to coat automobile surfaces and demonstrate the innovative technologies which are proficient in manufacturing sturdy surfaces, maximizing overall vehicle efficiency while meeting environmental regulations. Automotive OEM coatings improve the overall appearance and durability of a vehicle and helps in protecting it from extreme temperatures, UV radiation and foreign particles.
Innovation is fuelling the growth of global automotive OEM coatings industry since new variants such as waterborne and e-based products are penetrating both consumer automotive as well as automotive OEMs. Ultraviolet based coatings are projected to witness high demand. Although, currently the applications of UV coatings is in its infancy stage, a steady shift toward UV cure coatings is estimated to happen over the forecast period. Moreover, several benefits such as lower energy costs and ease-of-application are some major aspects fostering the adoption of automotive OEM coatings across the value chain. Additionally, increase in per capita disposable incomes of consumers especially in developing economies such as China, India, Thailand, etc. has propelled the overall demand for passenger cars. Thus, automotive manufacturers are setting up their manufacturing facilities in the aforementioned countries to cater to this burgeoning demand. These manufacturers are progressively shifting towards high-performance and low-cost OEM coatings manufactured by regional vendors. Amplified by the launch of newer products with relatively more sophisticated and unique functionalities, local players are focusing on collaborating with major automotive OEMs to come up with tailored solutions for the consumers.
The automotive OEM coatings market is segmented by type into water borne, solvent borne, powdered and others. The solvent borne segment accounted for the largest share in 2017 and is chiefly driven by increasing preference towards low priced coatings especially for basecoat applications. On the basis of layer, the global automotive OEM coatings market is segmented into primer, basecoat, electrocoat and clearcoat. Based on type of vehicle, the market is categorized into light commercial vehicles, passenger cars, heavy commercial vehicles and others (bicycles, motorbikes, etc.) Passenger cars segment accounted for the largest share owing to increasing automobile production especially in China, India and Brazil. Moreover, increasing disposable incomes and changing lifestyles of consumers is further expected to supplement the demand for passenger cars over the coming years.
Passenger cars segment proposes the maximum potential in the global automotive OEM coatings market due to rise in demand for general utility vehicles and passenger cars globally along with increase in expenditure towards public transportation. Moreover, rising inclination of consumers towards easy and efficient transportation facilities further augments the overall demand for such coatings in passenger cars. Owing to persistent growth in the disposable incomes of consumers coupled with increase in demand for commercial vehicles on account of rapid growth in logistics and transportation, the use of automotive OEM coatings in commercial vehicles has foreseen key developments. The passenger cars segment is estimated to witness a significant growth during the forecast period. However, increase in apprehensions related to several environmental perils associated with the use of solvent borne coatings might hamper the overall growth, although increasing investments in research & development activities in the production of newer and relatively safer alternatives are projected to pose lucrative growth opportunities.
In 2017, in terms of demand/consumption, globally, Europe was the major market for automotive OEM coatings closely followed by the Asia Pacific and North American regions. As of 2017, China was the largest exporter of automotive OEM coatings globally. The other Asia Pacific countries leading in exports of automotive OEM coatings are India, Japan and Indonesia. Latin America is expected to foresee a rapid growth due to presence of untapped and emerging markets such as Mexico, Peru, Argentina, Ecuador and Columbia among others.
Global Automotive OEM Coatings Market is segmented as below:
- By Type
- Solvent Borne
- Water Borne
- Powdered
- Others
- By Layer
- Primer
- Basecoat
- Electrocoat
- Clearcoat
- By Type of Vehicle
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- Others (Bicycles, Motorbikes, etc.)
- By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- France
- Germany
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle-East & Africa (MEA)
- GCC
- Rest of MEA
- North America
Key players across the Automotive OEM Coatings Market value chain are:
Axalta Coating Systems, PPG Industries, BASF SE, Kansai Paint, Nippon Paint, Sherwin-Williams Company, AkzoNobel, Bayer AG, KCC Paint and Arkema SA among other notable players.
This report offers:
- Assessment of automotive OEM coatings market trends for the period 2016-2026
- Historical (past) information for 2016 & 2017 and projections with CAGRs from 2018 to 2026 considering 2017 as base year for the market
- Market drivers, restraints, future prospects and competitive analysis (market positioning) of key market players
- Overview of the automotive OEM coatings industry value chain
- Company profiling with major information about the key players operating in automotive OEM coatings market
- Estimation of market size in terms of value and volume
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The study research also considers many sections of the Automotive OEM Coatings Market completely on the basis of the product type and application, considering their current as well as historical performance across the globe. Moreover, the report also shows the growth trajectory of each of the sections, global as well as in each of the regional segments, representing a descriptive analysis of the overall industry.
The study paper also speaks about the present as well as upcoming ventures in the Automotive OEM Coatings Market at length, making this knowledge of special value for businesses, consultants, and stakeholders functional in this market.
Further, the report analyzes the competitive aspect of this market by reviewing the profiles of the key market participants in a bid to determine the current hierarchy.
The main purpose of this research study is to help the associates operating in the worldwide industry for Aerospace Engineering Market in planning active artifices and enhancing their decision-making techniques to gain a competitive edge over their challengers.
The report added new project SWOT analysis, investment feasibility analysis, and investment return analysis.
Key advantages
- The research gives an in-depth analysis of the Automotive OEM Coatings Market, with running trends and future views, to elucidate the imminent investment pockets.
- The quantitative study from 2018 to 2026 is demanded to enable the stakeholders to capitalize on prevailing market possibilities.
- The report provides real historical figures for 2014 and year-on-year predictions from 2018 to 2026, considering 2018/2018 as a base.
- Overall analysis of all geographical regions is presented to determine the general opportunities.
[The report is originally published on Credence Research Inc.]
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