automotive coatings market Report 2022, Demand, Trends and Forecast till 2030
The global automotive coatings market is looking forward to robust growth and is projected to attain nearly USD 25 Billion by the end of 2030, unveils Market Research Future (MRFR) in a detailed research report. The move towards the development of light-weight vehicles and low-temperature curing are driving the global automotive coatings market. Various factors have supported the growth of the global automotive coatings market. The rise in the number of global car sales purveyed by rising disposable income, especially in the developing countries is a primary factor contributing towards market growth. Low cost of financing and cheaper fuel price have also increased the degree of vehicle ownership in emerging markets. The trend of replacement of old cars posts the global recession has resulted in the purchase of new cars which too has acted as a bonus for the market growth. To sustain intense competition, automakers are exploring materials to create multi-substrate designs and light-w