The global automotive refinish coatings market is set to grow between 2018 and 2022, according to the “Global Automotive Refinish Coatings Market 2018-2022” report by ResearchAndMarkets.com. The global market is predicted to grow at a CAGR of 5.95 percent over the four-year period.
Global Automotive Refinish Coatings Market 2018-2022 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is increasing demand for UV-curable coatings and nanocoatings. The automotive industry focuses on using low-cost advanced technologies to improve performance. Numerous research activities are being undertaken for the development of new coating technologies such as UV-curable coatings and nanocoatings.
According to the report, one driver in the market is support services leading to efficient use of coatings. Automotive refinish coatings must be applied properly to achieve the desired results. Vendors of automotive refinish coatings can help provide support to customers through various aftermarket support service programs.
Further, the report states that one challenge in the market is increasing supply-demand imbalance. Change in consumption patterns, technological innovations, and the introduction of new products pose serious challenges to the global automotive refinish coatings market.
