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SOURCE Research and Markets
DUBLIN, May 9, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/64c95l/global_automotive) has announced the addition of the "Global Automotive Refinish Coatings Market 2014-2018" report to their offering.
Growing preference for water-based coatings is expected to drive market growth during the forecast period. An increase in the demand for such products can be attributed to stringent environmental regulations, particularly in geographies such as North America and Europe. The main aim of such regulations is to reduce volatile organic content in coatings; consequently, there has been a decrease in demand for solvent-based coatings. Although water-based coatings have certain limitations such as low chemical resistance, surface performance, and flexibility, low resistance to low temperatures, and high drying time, vendors are trying to improve these products.
According to the report, many factors are contributing to the growth of the Global Automotive Refinish Coatings market, of which an increase in the number of operating vehicles in countries such as India, China, Brazil, and Russia is the most important driver. Poor road safety standards in these countries have increased the rate of accidents, and therefore the demand for automotive refinish coatings from automotive body shops and collision repair centers.
Further, the report states that the unfavorable effect of the global economic recession is one of the major challenges. This has resulted in a reduction in consumer spending on automobile repairs and refinishing.
Data on the different segments of the Global Automotive Refinish Coatings market, based on:
Other Prominent Vendors
Key Topics Covered:
For more information visit http://www.researchandmarkets.com/research/64c95l/global_automotive
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