Commercial Vehicle Coatings Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis - MarkNtel Advisors

 According to Markntel Advisors Report, Commercial Vehicle Coatings Market is expected to grow at a significant growth rate, and the analysis period is 2022-2027, considering the base year as 2021.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Automotive coatings are applied on vehicle surfaces for both aesthetic & protection purposes to enhance the vehicle's durability and resistance to heat, UV rays, dust, corrosion, & other foreign particles. Nowadays, automotive OEMs employ multiple layers of coatings on modern vehicles in order to ensure their long-lasting protection.

 

Commercial Vehicle Coatings Market Research Report & Summary:

The Global Commercial Vehicle Coatings Market is expected to grow at a CAGR of around 4% during the forecast period, i.e., 2022-27.                  

Time Period Captured in the Report:

·        Historical Years: 2017-20

·        Base Years: 2021

·        Forecast Years: 2022-27 

Who are the Key Players Operating in the Commercial Vehicle Coatings Market?

The top companies of the Commercial Vehicle Coatings Market ruling the industry are: 

Axalta Coating Systems, BASF, PPG Industries, Kansai Paint, Akzo Nobel, Valspar Corporation, Cabot Corporation, Clariant AG, Eastman Chemical Company, Lord Corporation, Nippon Paints, Arkema SA, Beckers Group, Berger Paints, Clariant AG, Others.

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What is Included in Commercial Vehicle Coatings Market Segmentation?

The Commercial Vehicle Coatings Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Product Type
• Primer
• Basecoat
• Electro-coats
• Clear-coats
• By Substrate
• Metal
• Plastic
• Composite
• By Technology
• Waterborne Coatings
• Solvent-borne Coatings
• Powder Coatings
• UV-Cured Coatings
• By Resin Type
• Polyurethane
• Epoxy
• Acrylic
• Others (Vinyl, Alkyd, etc.)
• By Application
• Light Commercial Vehicle
• Pickup Trucks
• Pickup Vans & Trucks
• Light Bus
• Medium & Heavy Commercial Vehicle
• By Demand
• OEM
• Aftermarket
• By Region
• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

 Explore the Complete Commercial Vehicle Coatings Market Analysis Report – https://www.marknteladvisors.com/research-library/commercial-vehicle-coatings-market.html

Market Dynamics

Key Driver: The Growing Penetration of Compact Coating Processes Worldwide

Automakers worldwide are exploring new materials for multi-substrate designs & making lightweight vehicles while actively working on enhancing the automotive coating processes without compromising the quality. Since automotive coatings involve high energy & costs and contribute significantly to environmental degradation, the leading automotive coating manufacturers have started using compact coating processes to lower the degradation of the environment caused by their products. B1:B2 technology of PPG Industries, Inc. and 2-wet & 3-wet of Axalta Coating Systems are the most prominent compact coating techniques being deployed excessively all around the globe. Hence, with more & more automotive OEMs adopting these processes, it is creating remunerative prospects for the leading companies in the Global Commercial Vehicle Coatings Market.

Growth Restraint: Strict Environmental Norms & Increasing Raw Material Prices

The harmful effects of VOC emissions from solvent-borne coatings on the environment have led to stringent regulations for automakers across many countries to use bio-based coatings & paints. As a result, there's a gradually declining utilization of solvent-based solutions in the automotive sector. Moreover, the world is witnessing increasing prices of paint & coating raw materials, i.e., another aspect hampering the supply & demand of automotive coatings worldwide. Hence, these aspects are likely to create significant challenges for the Global Commercial Vehicle Coatings Market to expand during 2022-27.

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