Global Automotive Refinish Coating Market will Develop at a CAGR of 5.7% by 2022

The automotive refinish coating market is directly linked to the automotive market and has seen substantial growth in the last decade. This is primarily due to rapid growth in vehicle ownership in emerging economies with a resultant increase in the accident rate. Greater governmental regulations with respect to high volatile organic compounds may further impact the growth of automotive refinish coating market that is currently projected to record a robust CAGR of 5.7% from 2017 to 2022.

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  • Polyurethane has the maximum potential in automotive refinish coating market and is anticipated to gain share at the expense of other resin type segments in 2017. The polyurethane segment is predicted to be worth just under US$ 4.7 billion at the end of 2022. North America is the largest region in the polyurethane segment of automotive refinish coating market. Alkyd is the second largest in terms of resin type segments but is poised to lose market share in the medium term. Along with North America, the Europe alkyd segment of automotive refinish coating market is predicted to cross a billion dollars at the end of the forecast period – the only other region to do so
  • Heavy commercial and light commercial vehicles have a relatively similar market share in automotive refinish coating market by vehicle type. While both are estimated to lose market share points, the drop should be considerably steeper in the heavy commercial segment. The heavy commercial segment is assessed to grow with a lower CAGR of roughly 5% till 2022 and key stakeholders in automotive refinish coating market are advised to take this into account while devising their strategies

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  • There is a battle for supremacy between compact and mid-sized passenger cars in the automotive refinish coating market with the latter inching ahead. An absolute dollar opportunity of more than US$ 855 million exists in the mid-sized passenger car segment of automotive refinish coating market for the five-year period. Mid-sized passenger cars are typically preferred in North America and Europe because these regions are well-developed and the customers there are less price-sensitive than their counterparts in emerging economies. If a company seeks to enter the high-volume compact passenger car segment though, they would do well to consider targeting APEJ as the continent should have the highest CAGR
  • The primer segment has a revenue share of roughly a third of automotive refinish coating market by coating structure and is assessed to gain substantial share throughout the study period. The North America primer market contributes a third of the primer market and is expected to have a value of over US$ 1.3 billion in the year 2022
  • The companies profiled in automotive refinish coating market report are KCC Corporation, 3M Company, Nippon Paint Holdings Co Ltd, Kansai Paint Co., DowDuPont Inc., The Sherwin-Williams Company, PPG Industries, Axalta Coating Systems Ltd., Akzo Nobel NV, and BASF SE

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Automotive Paint Market is Projected to Record a Robust CAGR of 5.7% by 2022

The global automotive paint market is expected to sour at 5.7% CAGR during the assessment period (2017-2022). The arrival of enhanced paints and coating varieties is supporting the global sales of automotive paint. Apart for improving the external appearance of a vehicle, automotive paints also help in the increasing the durability of the materials they are applied on. Clearcoat, basecoat and primer paint are some of the common coating layers. Carmakers are utilizing automotive paint to increase the resistance of aluminium and metal component of the vehicle. Automotive paint offer resistance against UV radiation, heat, dust particles and acid rain. In addition, manufacturers are actively focusing of developing more advanced and efficient painting and coating technology. Factors as such are expected to drive the growth of the global market for automotive paint in the forthcoming years.

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Greater expansion of the global auto industry in countries such as China, Brazil and India coupled with growing production of cars is an additional factor that remains important in shaping the market dynamics going forward. Also, car manufacturers are increasingly adopting leading coating technologies such as thermal spray and powder coating owing to their high functionality and efficiency. In recent years, the focus has shifted towards introduction of greener paint and coating products as many of the international environmental organisations have been critical of automotive coatings and paints that emit harmful gas. Moreover, international bodies are promoting the use of product and setting guidelines on use of chemical coatings and paints in auto industry. Therefore, companies that manufacture automotive paints are trying to develop and formulate products that are non-toxic and environmentally viable.

Key Forecast Highlights on Global Market for Automotive Paint Include:

North America is expected to remain the largest market for automotive paint during the forecast period. This is primarily owing to presence of leading market players and automotive manufacturers. The region’s market is anticipated to surge at a healthy pace over the next couple of years.

On the basis of coating type, demand for electrocoat will remain significantly high throughout the projection period.

More than US$ 3,860 Mn worth electrocoat is estimated to be used by the end of 2022.

Currently, global sales of electrocoat account for around 30% revenue share of the global market.

Based on vehicle type, used of automotive paint will be relatively higher in compact passenger cars during the forecast period. This is mainly due to increase global demand for such cars.

Nearly US$ 2,600 Mn worth automotive paint is expected to be used in compact passenger cars by 2017-end.

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On the basis of finishing, preference for metallic paint finishing will be significantly high over 2022.

In terms of revenue, global sales of metallic automotive paint currently represent close to one-third share of the global market.

By paint base, waterborne paint base will continue to outsell solvent-borne variant during the assessment period.

Global sales of waterborne paint base currently account for more than 50% market share in terms of revenue. By 2022-end, over US$ 5,800 Mn worth waterborne paint base is estimated to sold globally.

Competition Tracking

Some of the top companies operating in the global market for automotive paint include, The Valspar Corporation, Axalta Coating Systems Ltd., Clariant AG, Kansai Paint Co.,Ltd, The Sherwin Williams Company, Akzo Nobel NV, BASF SE, DuPont Coatings & Color Technologies Group, and Nippon Paint Holdings Co Ltd.

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Asia Pacific Peracetic Acid Market is Expected to Represent US$ 164 Million by 2024 End

A study conducted by Persistence Market Research (PMR) on “Peracetic Acid (PAA) Market: Asia Pacific Industry Analysis and Forecast 2016–2024,” projects the APAC peracetic acid market to surpass 164 Million, expanding at over 8% CAGR over 2024.

Growing preference for peracetic acid over chlorine across various industrial domains in Asia pacific is expected to influence the overall growth of the peracetic market in the region. In recent years, the application base of peracetic acid has expanded to a significant extent. On the contrary, demand for peracetic acid from food & vegetables processing aids, healthcare textiles (HCT), industrial cleaning, aseptic filling & packaging, meat & poultry processing aids and water treatment industries is scaling at a healthy pace.

asia-pacific-per-acetic-acid-marketA better alternative to chlorine as an oxidant agent for industrial cleaning, textile industry and in other purification purposes. Peracetic acid is an effective disinfectant and finds robust use in various industries in the form of purifiers, cleaners and as sanitizing agents. In addition, growing demand for peracetic acid as sanitizing agents in packaged food and vegetables for prevention of microbial contamination is likely to play a major role in stimulating the market growth in Asia Pacific. Peracetic acid contains properties of bleaching agent, easy environmental degradation, and non-toxicity. Hence, making the product a safe sanitizer that can be used in consumable products.

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In contrast, high volatility of PPA above 17% and associated risks with logistics can restrain the growth of the market. Likewise, adverse side-effects on health due to excessive exposure of peracetic acid on the surface of the skin, through oral intake or inhalation.

Based on PPA grade, demand for PAA- grade above 15% is expected remain high as compared to other PAA grades. While, growth in demand for other PAA grades will be sluggish during the forecast period. By 2016 end, the PAA- grade above 15% segment is estimated to occupy for over 46% value share of the market and is anticipated to gain 130 BPS over 2025.

By end-use, food and beverage is anticipated to be the leading segment during the forecast period. In addition, the segment is projected to account for over 27% value share of the market by the end of 2016, gaining a BPS of 210 over 2025. This is primarily owing to the growing demand for peracetic acid from the F&B industry for sterilizing food contact surface equipment. In addition, the segment is set to witness a value CAGR of over 9% between 2016 and 2024.

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Region-wise, the market in China is projected to present lucrative business opportunities for leading players. The China peracetic acid market is projected to increase by 350 BPS during the forecast period. By 2016-end, China is estimated to account for mammoth 59.6% share of the market in terms of value. The market growth in China is largely attributed to the existence of a strong manufacturing and supply chain in the country that is comprehensively sustaining the growing demand for peracetic acid in the country as well as in the region. Likewise, India is another country were the market is estimated to exhibit a significant growth over the next couple of years. In the recent past, the country has attracted a healthy number of foreign investors who are planning to setup production plants in the country as demand for eco-friendly alternative chemicals is on the rise.

Key stakeholders in the peracetic acid market in the Asia Pacific region include Tianjin Xinyuan Chemical Co., Ltd., Evonik Industries AG, National Peroxide Limited, Aditya Birla Chemicals Limited, Acuro Organics Ltd., Solvay Peroxythai Ltd., PeroxyChem LLC, Mitsubishi Gas Chemical Company, MGI Chemicals Pvt. Ltd., and Qingdao Hisea Chem Co.Ltd.

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Produced Water Treatment Systems Market is Anticipated to Collect of US$ 6.0 Bn by 2020

PMR’s global produced water treatment systems market report for a five-year forecast period 2015-2020 indicates that the market registered a value of US$ 4.6 Bn in 2015, and is likely to witness steady growth by 2016 end.

With rising demand for crude oil and gas, the need for extraction and production has consistently been on the rise since the past decade. This will remain a key factor propelling the demand for effective produced water treatment systems globally. Moreover, developing regions are constantly facing challenges regarding availability of usable water, which is also identified to fuel the market for better, more efficient, and cost-effective water treatment solutions over the next few years.

PMR expects increased volumes of produced water generation by 2020 end. In addition, the market also estimates spiking ratio of oil-to-produced water. These factors are anticipated to collectively drive the market in the near future.

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Several governments have been mandating stringent regulatory measures in order to maintain the environmental impact of reuse and disposal of produced water. This will continue to escalate the demand for new water treatment systems. Moreover, reinjection norms of the petroleum industry will continue to boost the market for produced water treatment systems.

The oil and gas industry is consistently observing rising exploration of accessible on-shore and off-shore reserves, which is another important factor foreseen to drive the market growth. Introduction of new water treatment technologies are predicted to support the market post-2016. However, high capital costs associated with installation and operation of produced water treatment systems are likely to remain a barrier to widespread adoption.

On the basis of technology, secondary and tertiary treatment systems segments are identified to be the major market shareholders in 2015. However, tertiary treatment systems segment is expected to emerge faster compared to secondary treatment systems segment. Expanding at an estimated 9.1% CAGR over 2015-2020, tertiary treatment systems segment is projected to account for the largest share of the market by 2020 end.

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Based on geography, the global produced water treatment systems market is classified into five regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America will continue to be the largest regional market for produced water treatment systems, attributed to wide acceptance of tertiary treatment technology among end-use sectors. Up from US$ 1.73 Bn registered in 2015, North America will witness a CAGR of over 8% during 2015-2020. Asia Pacific is expected to be the second largest market with a moderate CAGR of 4% estimated over 2015-2020. Europe and APAC will continue to represent lucrative markets, whereas Latin America’s market share is poised to rise up by 2020 end.

The global produced water treatment systems market is operated by a number of companies. Some of the key players analyzed in PMR’s produced water treatment systems market report are Aker Solutions, Siemens AG, FMC Technologies, Inc., Alderley plc, Frames Group, Veolia, Aquatech International, CETCO Energy Services, Ovivo, Eco-Tec, ThermoEnergy Corporation, Schlumberger Limited, Global Water Engineering, Miox Corporation, and Ecosphere Technologies, Inc..

While Alderley plc is recognized as one of the top companies leading in primary treatment technologies, Veolia pioneers in off-shore produced water treatment. Aquatech International is concentrating on low CAPEX and OPEX biological processes, whereas Siemens is focusing solely on advanced biological wastewater treatment.

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Thermal Insulation Material Market to Register a Steady Expansion US$ 53,286.8 Million by 2020

PMR indicates steady growth for the global thermal insulation material market over a four-year forecast period, 2016-2020. By 2016 end, the revenues are likely to reach US$ 45.073.8 Mn. The market will observe stable growth at a CAGR of 4.1% during the forecast period. Developing economies will continue to lead the market globally, witnessing strong growth throughout the next four years.

Rising urbanization and increased manufacturing and construction output levels are the key macroeconomic factors expected to escalate the demand for thermal insulation material. The critical need for thermal insulation in order to maintain any industrial system’s performance will continue to sustain the demand for thermal insulation material. Rising consumption of thermal insulation material by a wide range of verticals, such as oil and gas, energy, petrochemicals, and food and beverages, is projected to escalate the demand. Increasing manufacturing levels of automobiles as well as aircrafts will also accelerate the market.

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Growing awareness about the significance of energy conservation and soaring preference for minimum energy spend are expected to accelerate the market growth. Efficient building norms in developed countries as well as emerging regulations regarding efficient building construction in developing countries, will fuel the market further. Governments of emerging economies are increasingly initiating building efficiency norms in order to meet the standards of energy conservation. This will remain a major factor boosting market during the forecast period.

Technological advancements in insulation material, such as high-temperature insulation wool and bio-based insulation material may create lucrative growth opportunities. Moreover, increased emphasis on green energy is expected to benefit the sales of thermal insulation material. Promising introduction of vacuum insulation and nano-insulation will also hold a positive influence on market growth. Low awareness about the usage and expensive costs associated with thermal insulation material are likely to remain the long-term challenges to the market growth.

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Based on material type, fiberglass, stone wool, plastic foam, and others constitute the key sub-segments of the market. On the basis of temperature range, the highest growth will be observed in 1°C to 100°C temperature range segment. While this segment is anticipated to expand at a CAGR of 4.6% over 2016-2020, ?160°C to ?50°C temperature range segment will also register a significant CAGR. This growth is attributed to burgeoning demand from the petrochemicals industry for cryogenic preservation of gas. ?490C to 00C temperature range segment will account for over 25% share of the market value in 2020.

By regional analysis, developing countries in Asia Pacific are identified to remain the largest markets for thermal insulation material. This region will continue to be the largest shareholder with over 45% share in terms of revenues. While Western Europe is another key market, North America is also projected to be a major market by 2020 end.

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Some of the leading companies in the global thermal insulation material market are Dow Chemicals Company, Saint Gobain S.A., Asahi Kasei Corporation, BASF SE, E. I. du Pont de Nemours and Company, Bayer AG, Kingspan Group, Rockwool International, Owens Corning, and Berkshire Hathaway.

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To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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Automotive Cabin AC Filter Market Projected to Register US$ 3,738.2 Mn by 2024

A new Persistence Market Research report titled “Automotive Cabin AC Filter Market: Global Industry Analysis and Forecast, 2016–2024” presents market projections for the global automotive cabin AC filter market over an eight-year forecast period (2016–2024). The global automotive cabin AC filter market is estimated to be valued at US$ 2,198.4 Mn by the end of 2016 and is expected to reach US$ 3,738.2 Mn by the end of 2024, expanding at a CAGR of 6.9% over the forecast period. Global consumption of automotive cabin AC filters is estimated to be pegged at 366,547 thousand units by the end of 2016 and is expected to increase at a CAGR of 4.9% over the forecast period.

Market dynamics

Demand for automotive cabin AC filters is expected to increase at a significant rate due to steady rise in vehicle production around the globe. Rising adoption of automotive cabin AC filters to filter pollutants and dust particles and a rising demand for efficient HVAC systems are major factors expected to drive the demand for automotive cabin AC filters worldwide. Cabin AC filters are an integral part of the HVAC system in vehicles. However, many vehicle owners are not aware that this system exists in a vehicle, and hence they are unaware about the replacement cycle of the cabin AC filter. This factor is expected to marginally restrain the growth of the automotive cabin AC filter market over the forecast period.

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Market highlights

The global automotive cabin AC filter market is segmented on the basis of filter type (electrostatic, particulate, charcoal), vehicle type (passenger cars, LCV, HCV), and sales channel (OEM, aftermarket). Persistence Market Research projections indicate that the particulate filter type segment is likely to expand at a significant CAGR of 6.2% in terms of value over the forecast period. The electrostatic filter type segment is expected to register a volume CAGR of 7.1% over the forecast period. “The electrostatic segment is likely to exhibit steady growth in the near future due to the rising adoption of cabin AC air filters in the OEM and aftermarket categories in countries such as China, India, Brazil, and countries of MEA.” — Analyst, Persistence Market Research.

The passenger car vehicle type segment is estimated to account for the largest market share of 76.3% by the end of 2016. This segment estimated to be valued at US$ 1,677.0 Mn by 2016 end and is expected to reach US$ 2,913.6 Mn by the end of 2024, expanding at a CAGR of 7.1% over the forecast period. The segment is expected to grow 1.7X in terms of value between 2016 and 2024.

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The OEM sales channel segment is expected to expand at a CAGR of 5.6% over the forecast period while the aftermarket sales channel segment is expected to be the most attractive segment in terms of CAGR and market share index throughout the forecast period.

Among regions, the market in Asia Pacific is expected to witness a relatively high CAGR of 10.5% in terms of value over the forecast period. North America and Europe are expected to contribute significant value share to the global automotive cabin AC filter market throughout the forecast period. The market for cabin AC filters is mature in Europe and North America as almost all the passenger cars are equipped with cabin AC filters.

Vendor details

The report profiles some of the leading market players in the global automotive cabin AC filter market – Mann+Hummel GmbH, Sogefi SpA, Donaldson Company, Inc., Robert Bosch GmbH, Denso Corporation, Ahlstrom Corporation, MAHLE GmbH, Freudenberg & Co. KG, Hengst SE & Co. KG, ALCO Filters Ltd., K&N Engineering, Inc., EuroGIELLE S.r.l, ACDelco, and Airmatic Filterbau GmbH.

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About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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Global Electric Bus Market Estimated to Exhibit at a CAGR of 28.0% by 2020

PMRAccording to a new market report published by Persistence Market Research “Global Market Study on Electric Bus: Asia Pacific to Witness Highest Growth by 2020”, the global electric bus market is expected to grow at a CAGR of 28.0% during 2014 to 2020, to reach an estimated volume sales of 33,854 units by 2020.

Governments of various countries are focusing on no or low-pollution transportation systems to tackle rising pollution. This, in turn, is driving the electric bus market. Based on drive system, electric buses are categorized as pure electric, hybrid electric, and plug-in hybrid. Most of the electric buses running worldwide are hybrid electric due to their low cost as compared to its other electric counterparts. However, developed countries are focusing on increasing the number of pure electric buses in their fleets.

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The global electric bus market is thriving mainly due to growing environmental concerns of the public and various governments. However, among developing countries, China is the only country taking concrete steps to curb vehicular pollution with the introduction of large number of electric buses. A high cost of electric buses is a key barrier for this industry. However, unstable crude oil prices and increasing focus of the transit agencies on minimizing operational costs are expected to lower the impact of the cost factor in the long term. In recent times, certain product launches by companies indicate the increasing level of competition in the industry. The investments of companies and transit agencies are being backed by funding from venture capitalists and governments. This is favoring the growth of electric bus market.

Unstable fuel prices and depleting crude oil reserves are influencing transport departments and transit agencies globally to increase the number of alternate and new energy vehicles. Some of the transit agencies in developed countries are considering long-term benefits as opposed to short-term costs while purchasing buses. Electric buses require high initial investment. However, their operational cost is significantly low as compared to that of conventional buses, as electricity is cheaper than diesel.

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Air pollution caused by vehicles has been emerging as a serious concern for governments across the globe. This, in turn, is driving demand for public transport facilities with lower emissions. According to the World Health Organization (WHO), air pollution causes about 100,000 deaths every year in Europe, reducing life expectancy by an average of one year. Considering the negative impact of pollution on people, governments around the world are working to find solutions to reduce pollution levels. European countries such as France, the U.K., and Germany are emerging as key markets for electric and hybrid electric vehicles.

The key companies operating in the global electric bus market include BYD Company Limited, Proterra, AB Volvo, Daimler AG, Solaris Bus & Coach S.A., Zhongtong Bus & Holding Co., Ltd, Ashok Leyland, EBUSCO, Alexander Dennis Limited (ADL), and Shenzhen Wuzhoulong Motors Co., Ltd.

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About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

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