Monday, January 24, 2022

Latin America Commercial Vehicle Coatings Market Growth Trend: CAGR of 6.5% Forecasted During 2021-2026 – ResearchAndMarkets.com

Dublin–(business wire) – “Latin America Commercial Vehicle Coatings Market Research Report: Forecast (2021-2026)” report has been added to of ResearchAndMarkets.com Presentation.

Vehicle coatings are gaining popularity due to the trend towards aesthetic appearance and safety purposes of commercial vehicles.

The Latin America Commercial Vehicle Coatings market is projected to grow at a CAGR of around 6.5% during the forecast period 2021-26.

The growth is due to the rapid transformational changes in the automobile sector fueled by economic, social and technology disruptions. Additionally, the reshaping of the automobile industry has a direct impact on the Latin America commercial vehicle coating market, which could see substantial growth across the region. Moreover, requirements like regional logistics, economic activity along with new commercial vehicle fleet renewal regulations are likely to support the market growth over the forecast period.

The report provides a deep-dive market analysis of the market data, which mainly includes regional and country-wise market size, market forecast, CAGR and market share of the market segmentation, competitive benchmarking and key market drivers and restrictions.

market segmentation

Metallic substrates saw the largest share of Latin America commercial vehicle coatings market

There are three substrates in the Latin America commercial vehicle coating market – metal, plastic and composite. Among all, metal substrates dominated the market with the largest share in the past years and are likely to continue their dominance over the forecast period. The key factor supporting the segment growth is the major consumption of metals in the automobile industry, which directly impacts the Latin America commercial vehicle coating market.

However, volatility in metal prices and increased use of lighter materials may preclude the application of vehicle coatings to metal surfaces.

market driver

The key factor driving the Latin America Commercial Vehicle Coating Market growth is the manufacturer’s focus on enhancing the existing formulations to develop the finish, color and aesthetics for the customers. Furthermore, active participation of key market players in the market to consolidate Latin America commercial vehicle coating market share and create lucrative growth opportunities will drive the market growth over the forecast period.

market restrictions

The skyrocketing raw material prices are likely to have a negative impact on the Latin America commercial vehicle coating market by reducing profit margins, thereby restricting the market’s growth over the forecast period.

Mexico to gain largest share of Latin America commercial vehicle coatings market

On the geographical front, Mexico is likely to witness the fastest growth rate in the forecast period. This is mainly due to the improvement in the economic condition of the country. Moreover, rising growth strategies and active participation of key market players are likely to positively impact the demand for Latin America commercial vehicle coating market in the country. Therefore, the economic expansion of the market in Mexico will be fastest during the forecast period.

answers to key questions

  • What are the overall market data or market estimates (market overview, market size- value, forecast numbers, market segmentation, market share) of the Latin America Commercial Vehicle Coatings market?

  • What are the sector-wise industry size, growth drivers and challenges?

  • What are the major innovations, opportunities, current and future trends and regulations in the Latin America Commercial Vehicle Coatings market?

  • Who are the major competitors, their key strengths and weaknesses, and how do they perform in the Latin America Commercial Vehicle Coatings market based on competitive benchmarking metrics?

  • What are the key results derived from market surveys conducted during the Latin America Commercial Vehicle Coatings market study?

Major topics covered:

1. Introduction

2. Executive Summary

3. Impact of COVID-19 on Latin America’s Commercial Vehicle Coatings Market

4. Latin America Commercial Vehicle Coatings Market Trends and Insights

5. Dynamics of the Latin America Commercial Vehicle Coatings Market

6. Latin America Commercial Vehicle Coatings Market Hotspots and Opportunities

7. Latin America Commercial Vehicle Coatings Market Regulations and Policy

8. Latin America Commercial Vehicle Coatings Market Outlook, 2016-2026F

9. Brazil Commercial Vehicle Coatings Market Outlook, 2016-2026F

10. Mexico Commercial Vehicle Coatings Market Outlook, 2016-2026F

11. Argentina Commercial Vehicle Coatings Market Outlook, 2016-2026F

12. Peru Commercial Vehicle Coatings Market Outlook, 2016-2026F

13. Key Strategic Essentials for Latin America Commercial Vehicle Coatings Market Success and Growth

14. Competition Outlook

  • Axalta Coating Systems

  • BASF

  • PPG Industries

  • Kansai Paint

  • Akzo Nobel

  • Valspar Corporation

  • Cabot Corporation

  • Clariant AG

  • Eastman Chemical Company

  • Lord Corporation

For more information about this report, visit https://www.researchandmarkets.com/r/30xrir

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