North America Automotive Paints And Coatings Market Forecast 2017-2025
North America's automotive paints and coatings market revenue is expected to reach $5.41 billion in the year 2017 and is anticipated to touch $7.69 billion in the year 2025, with the CAGR of 4.49%. The forecast period for the market is from 2016 to 2025 and the base year deliberated for the market study is 2016. The flourishing automobile industry and growing demand for eco-friendly paints and coatings from automotive industry are the key drivers of automotive paints and coatings market in the Asia Pacific region.
The Automotive paints and coatings market is segmented by technology on the basis of Solvent borne, water borne and others. The market is also segmented by coat type on the basis of base coat, Electro coat, Clear coat and primer. The market is further segmented by vehicle on the basis of Passenger cars, light commercial vehicles and heavy commercial vehicles. The markets shift towards Nano paints and increasing demand for custom made paints and contemporary automotive paints and coatings may widen the scope of automotive paints and coatings market.
The key players in the automotive paints and coatings market are PPG Industries, Akzo Nobel, BASF Coatings, Nippon Paints, Axalta Coating Systems and Kansai Paints.