1. Automotive paint is used on vehicles for both protection and decorative purposes. Automotive paint is applied in several layers. The primer layer serves as a protector to prevent against corrosion, heat differences, chips, and UV light. The base coat provides the color for the aesthetic of the car. The last coat, the clearcoat is a transparent coating that is the layer open to the environment. For this reason, the clearcoat is durable enough to resist abrasion and withstand UV light.
2. The automotive paint industry is estimated to be worth $8.74 billion. The industry is projected to reach $10.65 billion by 2025.
3. As consumer demand shifts to be more environmentally-friendly, there will be a large market for green, eco-friendly automotive paint franchises. Environmental laws of the past decades have shifted the industry from using lead-based paints in favor of water-based paints. 85% of lacquer paint can evaporate into the air and pollute the atmosphere. There is room for environmentally safe improvement in the automotive paint industry, and green auto franchises are at the forefront of innovation and change.
4. Paint shop franchises specialize in post-collision paint jobs as well as aesthetic paint jobs. These franchises carve out a niche market in the automotive repair industry.
5. The global automotive paint and coating market is expected to experience significant growth through 2022. The U.S.'s main competitor in this global market is the Asia Pacific region, notably China, India, Indonesia, Thailand, Japan, and Malaysia. The global compound annual growth rate (CAGR) for the global automotive coating industry is estimated to be 5.6 percent in the seven year period leading up to 2022.
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