According to Persistence Market Research, the global automotive paint market is estimated to reach $11.96 million by the end of 2022, with a compound annual growth rate (CAGR) of 5.7 percent (from 2017-2022). "Since the [2008 financial] crisis, the automotive coatings industry has been steadily increasing," said Dirk Bremm, president of BASF's Coatings division. "In 2017, the automotive industry increased globally by 2.5 percent, which was mostly driven by growing production output in Asia and Europe. After several years of downturn, the South American OEM market is finally growing again.
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