Automotive Paints And Coatings Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 - 2025
Automotive Paints and Coatings Market size is forecast to reach $26.8 billion by 2025, after growing at a CAGR of 3.5% during 2020-2025. Rising vehicle production coupled with rising consumer preference towards dual color alternatives are driving the market share. Industry players are investing in technologies and finishes to give customers alternatives for customizing their vehicles. Additionally, scratch resistance along with improved gloss finishing and corrosion resistance are gaining significant traction in the market. Key Takeaways Shifting consumer preference for buying pre-owned and refurbished vehicles is showcasing strong growth prospects for automotive paints and coatings market size. Increasing consumer inclination towards customization, repair, and maintenance of refurbished vehicles will significantly augment the utilization of automotive paints & coatings over the study timeframe. The COVID-19 outbreak has exposed several challenges for the automotive sector. Gover...