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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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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Global Electric Vehicle Charging Stations Market Size will Grow Profitably in the Near Future

With the bolstering sales of electric vehicles worldwide, automakers are keen towards establishing robust infrastructure so as to fulfil the operational requirements of these electric vehicles. Increasing adoption of electric vehicles demands proper infrastructure for charging. Moreover, to meet the consumer demand, significant advancements, both in home and outdoor charging are expected over the forecast period. Rapid increase in number of publically accessible charging stations has been witnessed in developed regions such as North America and Western Europe that suffice charging demands through high voltage and high currents. Furthermore, technology leaders are focusing on introducing electric vehicle charging stations with better charging capabilities and reduced charging time. One such example is Tesla Supercharging Station – an electric vehicle charging station that utilizes DC current and supplies at most 120 kW per car. The Tesla supercharger can charge a vehicle’s battery up to 50% within 20 minutes. The electric vehicle charging stations market when mapped out of a product life cycle is still in growth phase and is expected to remain lucrative and opportunistic due to ongoing significant research and development in the technical field. Following the footprints of leading players in the market, fast vehicle charging stations are expected to be the area of focus for the remaining players over the forecast period. Furthermore, electric vehicle manufacturers are developing strategies to attract large customer base for electric vehicles through providing free charging access. Such strategies added with robust macro-economic environment supporting the growth of electric vehicles market is expected to boost the growth of the electric vehicle charging stations market too, over the forecast period.

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Global Electric Vehicle Charging Stations Market: Market Dynamics

The global electric vehicle charging stations market is expected to be significantly driven by incentives and subsidies from governments that fuel sales of electric vehicles. Strategic initiatives by major players to provide free charging facility to electric vehicle owners will gain significant attraction in the market over the forecast period. Preference of home charging stations by electric vehicle owners, especially in North America and Europe is expected to significantly boost the sales of AC electric vehicle charging stations over the forecast period. Presently, the market for electric vehicle charging stations is highly consolidated, and thus there exists huge influence of major players and hence electric vehicle charging stations lack standardization, which in turn is expected to restrain growth of the market. Moreover, higher cost of DC charging stations over the conventional electric vehicle charging stations can further hamper market growth.

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Global Electric Vehicle Charging Stations Market: Region-wise Outlook

Asia Pacific is expected to dominate the volume demand for electric vehicle charging stations over the forecast period owing to the expanding market of electric vehicles due to various government incentives and subsidies. North America and Europe are expected to be the fastest growing regions in terms of CAGR over the forecast period. U.S. is expected to witness significant increase in installation of DC charging stations over the next few years. Increase in number of home electric vehicle charging stations is also expected in the U.S. and Germany. Growth of the market in Middle East and Africa is expected to remain moderate over the forecast period.

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Global Electric Vehicle Charging Stations Market: Market Participants

Examples of some of the market participants identified in the global electric vehicle charging stations market are;

  • Tesla Motors Inc.
  • Delphi Automotive Plc.
  • Schneider Electric
  • Leviton Manufacturing Co., Inc.
  • AeroVironment, Inc.
  • ChargePoint Inc.
  • General Electric
  • SemaConnect Inc.
  • Bosch Automotive Service Solutions Inc
  • Clipper Creek
  • EV Box
  • ABB Ltd.
  • Eaton Corp. Plc.

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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.

 

Global Automotive Seat Parts Market Growth to Remain Stable during 2016 – 2026

The automotive seat parts market has evolved from simple structures to more sophisticated and innovative masterpiece. The seats of automobiles are the major focus of the manufacturers since it determines the position of the occupants with respect to the other parts of the vehicle. Seating ergonomics in automobiles have led to innovations in automobile seat parts. The automotive seat parts undergo tests related to its performance, durability and safety to ensure safety, high comfort level, improved design and check its legal compliance. Modern automobiles have many latest technologies embedded in the seat parts like sensors to measure breathing rhythm, heartbeats of occupants and drivers. Latest innovation also includes ventilation system for the seats to re-energize the driver as well as the other passengers, power buttons for seat adjustments, temperature controls etc. Along with the interior comfort, visual comfort also plays an important role in making the occupant comfortable, which is achieved by choosing right materials, colour and finishes for the automotive seat parts.

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Automotive Seat Parts Market: Drivers and Restraints

The growing technological advancements in automobiles and increased health and environmental concerns have boosted the growth of the global automobile seat parts market. The environmental issues like increased CO2 emissions can be controlled by innovative automotive seat part design since the weight of the seat parts also contributes to the overall automobile weight and it could be a driving factor for the global automotive seat parts market. The use of technologically improved materials in automobile seat part with increased recycling ability will fuel the global automotive seat parts market.

The demand for innovative automotive seat parts with low cost could be a major restraint for the global automotive seat parts market.

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Automotive Seat Parts Market: Region Wise Outlook

The global automotive seat parts market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan and Middle East and Africa. Europe holds the largest market share in the global automotive seat parts market. Followed by Europe is North America which is the second largest market for global automotive seat parts. The leading markets are expected to show moderate growth, while on the other end the emerging market of Asia Pacific Excluding Japan is expected to register higher growth rates in the global automotive seat parts market, owing to the increased sales of automobiles in the region. Regions such Latin America and Middle East & Africa are at nascent stages in the global automotive seat parts market and are expected to represent moderate CAGRs during the forecast period.Type or Copy and Paste Your text here, Only 30,000 characters are allowed

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Automotive Seat Parts Market: Key Players

Some of the key players in the global automotive seat parts market are as follows:

  • Lear Corporation
  • Grupo Antolin
  • Brose Fahrzeugteile GmbH & Co. KG
  • AUSTEM Co., Ltd.
  • GRAMMER AG
  • TS TECH CO.,LTD
  • NHK SPRING Co.,Ltd
  • Faurecia
  • Johnson Controls
  • DURA Automotive Systems, LLC
  • IFBAutomotive Private Limited

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.