Commercial Vehicle Coatings Market to Grow Exponentially at 4% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Commercial Vehicle Coatings Market, The Global Commercial Vehicle Coatings Market is projected to grow at a CAGR of around 4% during the forecast period, i.e., 2022-27. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Commercial Vehicle Coatings Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2022-2027
CAGR (2022-2027): 4%

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Global Commercial Vehicle Coatings Market Segmentation Breakdown:

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

Of all substrates, plastic is witnessing a rapidly rising popularity, owing to its properties like lightweight, design flexibility, high resistance to corrosion, reduced costs, excellent durability & recyclability.

By Technology
- Waterborne Coatings
- Solvent-borne Coatings
- Powder Coatings
- UV-Cured Coatings

Of them all, water-borne coatings are emerging as prominent technologies in the commercial vehicle coatings industry, owing to their low toxic & VOC (Volatile Organic Compound) levels and hazardous air pollutant emissions.

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

Geographical Growth Insights:

By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Among all regions globally, Asia-Pacific, one of the major automotive hubs, is the largest Commercial Vehicle Coatings Market.

MarkNtel Advisors Highlights Key Market Drivers for Commercial Vehicle Coatings Market:

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.

A Comprehensive Analysis of Leading Companies in Global Commercial Vehicle Coatings Market

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

Explore More About This Research Report @ https://www.marknteladvisors.com/research-library/commercial-vehicle-coatings-market.html

Global Commercial Vehicle Coatings Market Possible 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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About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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