The North America Automotive Paints Market is projected to reach USD x million in 2023, registering at a Compound Annual Growth Rate (CAGR) of x% during the forecast period 2024-2030. The growth of the market is majorly driven by the increased disposable income, consumers are willing to invest in vehicles that offer an appealing appearance, including high-quality paint finishes.
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Using a spray gun, automotive paint is applied to the surface of an automobile using a water-based mixture. These paints are made of polyurethane-based enamel, which enhances the appearance of motor vehicles by shielding the surface from environmental degradation.
The North America Automotive Paints Market Segmentation:
1) By Technology: Waterborne, Solvent-Borne and Powder Coating
2) By Resin Type: Epoxy, Acrylic, Polyurethane and Other Resins
3) By Texture: Solid Texture, Metallic Texture, Matte Finish Paints, Pearlescent Paints and Solar Reflective Paints
4) By Paint Type: Primer, Basecoat, Electrocoat and Clearcoat
5) By Vehicle Type: Passenger Car, Commercial Vehicle OEM, Light Vehicle OEM and Others
In the estimated period, the waterborne segment of the automotive paints market is expected to grow at the fastest rate. The worldwide automotive paints market is segmented into solvent-borne, waterborne, powder coating, and other categories based on technology. Of these, the automotive paints market's waterborne sector is anticipated to expand at the fastest rate throughout the projected timeframe. This is due to the fact that waterborne technology produces fewer volatile organic compounds (VOCs) than solvent-based technology and is therefore more ecologically friendly.
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The prominent key players operating in the North America Automotive Paints Market
are Nippon Paint Group, Sherwin-Williams, PPG, AkzoNobel, Axalta, BASF, Kansai Paint, Masoo(Behr), Asian Paints, Jotun, RPM, Clariant AG, Solvay, DOW Chemical, 3M, KCC, DuPont Coatings & Color Technologies Group
Scope of The Report:
- The North America Automotive Paints Market research report includes historical data, trending features, and market growth estimates for the future.
- The qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period.
- The market report helps to provide the best results for business enhancement and business growth.
- The report gives a comprehensive overview of both primary and secondary data.
- The market key players covered here to help them strengthen their place in the market.
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