According to a recent report published by Allied Market Research, titled, "Automotive Paints Market by Coating, Texture Type, Technology, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2019-2026" the global automotive paints market size was valued at $8.78 billion in 2018, and is projected to reach $12.34 billion by 2026, registering a CAGR of 4.2% from 2019 to 2026.
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Asia-Pacific dominates the market, followed by Europe, LAMEA and North America. China led the Asia-Pacific automotive paints market share in 2018, whereas South Korea is expected to grow at a significant rate in the Asia-Pacific during the forecast period, owing to rise in demand for eco-friendly automotive paints.
The automotive industry is expected to witness upsurge in need for innovative and pollution-free paints. . Thus, rise in preference toward eco-friendly paints as compared to traditional paints is boosting the growth of the global automotive paints market. This is attributable to the fact that eco-friendly paints are waterborne and traditional paints are solvent borne. Solvent-borne paints use products based on petrochemicals that contain volatile organic compounds (VOCs), which are harmful for the environment. Conversely, waterborne paints are thinned with water, which significantly cuts down the amount of VOCs they contain. Thus, rise in demand for eco-friendly paints is anticipated to propel the growth of automotive paints market, as they reduce the negative environmental impact.
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Developing nations have witnessed rise in demand and production of automobile. For instance, in 2017, India became the fourth largest automobile industry in the world with increase in sales of 9.5% year-on-year to 4.2 million units. This rise in automobile production in the developing nations has in n turn led to increased production of automobile paints. Therefore, increase in automobile production is anticipated to boost the growth of the automotive paint market.
For all the companies operating in the automotive paints industry, cost of raw materials required for production of paints is increasing significantly over the last few months. The cost of commodities and raw materials plays a crucial role for paint manufacturers, as more than 50% of the operating costs are allotted to raw materials. Thus, upsurge in prices of commodities has led to rise in the product’s final price. Thus, rise in prices of raw materials is anticipated to hinder the growth of the automotive paints market.
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Increase in production of automotive paints can cause pollution, owing to emission of VOCs. Majority of VOCs are emitted from spraying operation through the use of solvent-based paints, as air in spray booth is mixed with gaseous solvent compounds. In addition, prices of materials needed for the manufacturing of automotive paints are rising considerably, which in turn is restraining the growth of the automotive paints market. Thus, production of cost-effective & eco-friendly automotive paints is anticipated to provide lucrative growth opportunity for the players operating in the market.
Automotive paints majorly consist of three layers of coating, primer, basecoat, and clearcoat. Primer is the type of coat which is used to get the surface of the vehicle ready for painting. If the base or clear coat is directly applied to the surface, it will not only look inferior, but also will not be able to bond consistently. Base coat is the actual colored paint of the vehicle that is applied on the top of the primer, as it does not contain strengtheners or hardeners. This raw layer of base coat is not able to protect itself and needs protective layer on top of it to prevent paint blemishes. Clear coat is the top layer on the top of base coat, which does not contain any pigment or color. In addition, the clear coat is used to protect the base coat layer, not to add any color. Furthermore, clear coat finishes contain specialized chemicals that provides easy adherence to components such as plastic bumper.
Key Finding of The Automotive Paints Market:
Depending on technology, the solvent-borne coatings segment generated the highest revenue in 2018.
By vehicle type, the heavy commercial vehicle segment is anticipated to exhibit significant growth during the forecast period.
Region wise, LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
Asia-Pacific contributed the highest automotive paints market revenue in 2018.
The key players analyzed in this report are BASF SE, PPG, Akzo Nobel N.V, Axalta Coating Systems, LLC, The Sherwin-Williams, Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., DuPont, Clariant, Solvay, and others.
Medical Device & Accessories Market OverviewMarket Research Future (MRFR) predicts the global medical devices and accessories market to register a compound annual growth rate of 6.53% during the assessment period of 2017-2023.Medical device and accessories collectively refer to every entity used in the prognosis of a disorder, inclusive of diagnosis, monitoring and treatment.
Rising prevalence of chronic diseases like cardiac disorders and diabetes, increase in number of surgical cases, rise in geriatric population, surge in healthcare expenditure, technological advancements leading to better medical infrastructure, and more investment by market key players in research and developmental activities urging new product launches are some significant market drivers expected to shoot up the growth curve of the global medical device & accessories market.
For instance, in January 2019, remote patient monitoring solution provider, BioTelemetry announced that it was acquiring a startup, Geneva Healthcare, the implantable cardiac device manufacturer for USD 45 million in upfront cash and no less than USD 20 million performance-based earn out considerations.
The medical device and accessories market has been segmented by types of devices.Based on the types of devices, the market study has been segmented into therapeutic medical guide, dental implant, cochlear implant, global nerve stimulator market, global diabetes monitors market, cardiovascular application, coronary pressure, global suture needles, and monitors, catheters.
The catheter segment has been further classified into cardiovascular catheters, specialty catheters, , neurological catheters, intravenous catheters, and urinary catheters.
The nerve stimulator segment has been further segmented into vagus nerve stimulator, spinal cord stimulator, and deep brain stimulator.
The global Spraying & Plastering Machine Market report offers a comprehensive assessment of the market for the forecast years.
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The detailed sales channel is also covered in the study.COVID-19 Impact Analysis on Spraying & Plastering Machine marketThe global pandemic COVID-19 has affected the Spraying & Plastering Machine market directly or indirectly.
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According to a new report published by Allied Market Research titled,"Hair Restoration Services Market by Service Type, Gender, and Service Provider: Global Opportunity Analysis and Industry Forecast, 2019 - 2026,"the global hair restoration services market size was valued at $8,452.5 million in 2018, and is projected to reach $12,119.4 million by 2026, growing at a CAGR of 4.6% from 2019 to 2026.
In 2017, North America accounted for nearly 35.19% share of the hair restoration services market.According to the National Alopecia Areata Foundation (NAAF), in 2017, 6.8 million people in the U.S. were affected by alopecia.
Alopecia is a common autoimmune skin disease that cause hair loss on the scalp, face, and sometimes on the other areas of the body.
Countries such as Czech Republic, UK, Spain, and Germany have higher number of bald people.
As per the International Society of Hair Restoration, nearly 33,194 surgeries were carried out annually in 2015 in Europe.Ask for sample copy of this report@:https://www.alliedmarketresearch.com/request-sample/5389Men and women experience hair loss differently.
Women may have noticeable hair loss at age 40 or later, with generalized thinning over the scalp, and particularly at the crown.
