The global Trim coatings market is expected to foray ahead with a lower single-digit CAGR over the forecast period of 2019-2029. Increasing demand for improved vehicular aesthetics along with the willingness of consumers to spend on vehicle aesthetics are some of the factors providing upward traction to the market growth. In addition, the key players are also offering innovative coating solutions for vehicle and building trims in a cost-effective manner. Moreover, increasing automotive production across the globe along with the rising construction industry are some of the factors providing traction to the Trim coatings market growth.
Latest industry survey by Fact MR, predicts Trim coatings sales to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.
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The Trim coatings market survey includes demographics analysis to help market players plan their launches and growth strategies around prevailing forces of demand and supply. It offers sales outlook in 20+ countries besides identifying hidden opportunities across segments in terms of segment.
Key Trim coatings Survey Highlights and Projections
- The report presents refined Trim coatings sales outlook, predicting revenue generated through 2031 to total US$ Trim coatings MN/ Bn by 2031.
- (Segment name) will remain top-selling in terms of (criteria for segmentation), with demand surpassing US$ Trim coatings MN/ Bn by 2031.
- Chemicals and materials production in the U.S. will accelerate at a steady pace, creating scope for expansion of Trim coatings market. Sales in the U.S. is expected to top US$ Trim coatings Mn/Bn.
- Post COVID-19 recovery will reinstate Trim coatings demand in Japan and South Korea to the pre-pandemic status.
Increasing automotive production is poised to drive market growth over the forecast period
Increasing automotive production across the globe along with the increasing disposable income levels of consumers leverage wide avenues for Trim coatings as these are adopted at a wide note in the vehicle. Trim coatings are applied both on the interior trims and exterior trims of the vehicle in order to improve the vehicle’s aesthetics.
As per OICA (International Organization of Motor Vehicle Manufacturers), Paris, the total cars and commercial vehicle production in 2016 were recorded to be around 72.1 million that further escalated up to 73.4 million in 2017. Also, Asia Pacific is a key region considering automotive production. Increasing disposable income levels of the consumers along with the focus of automotive giants in this region are some of the factors fuelling the demand for trim coatings within the region. Thus, increasing automotive production consequently calls for vehicle trims that in turn drives the global Trim coatings market.
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Key players of Trim coatings Market
Prominent players in the global Trim coatings market are 3M Coatings, Gyeon, BASF Coatings GmbH, SEM Products, Inc., Kalcor Automotive Coatings, and others. The Trim coatings market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the Trim coatings market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Trim coatings market report provides analysis and information, according to market segments such as geographies, application area, and end-use.
Trim coatings Demand Analysis by Category
On the basis of application area, the global Trim coatings market is divided into:
- Exterior trims
- Interior trims
On the basis of end-use, the global Trim coatings market is divided into:
- Automotive & transportation
- Building & construction
Based on region, the global Trim coatings market is segmented as:
- North America
- Latin America
- East Asia
- South Asia & Oceania
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