Automotive Coatings Market By Resin Type (Polyurethane, Epoxy, Acrylic, and Others (Silicone and Alkyd)), By Coat Type (Clearcoat, Basecoat, E–Coat, and Primer), By Technology (Olvent–Borne, Water–Borne, and Others (Powder Coating and UV–Cured Coating)), By End–Use Application (Light Vehicle OEM, Commercial Vehicle OEM, and Automotive Refinish), and By Region - Trends, Analysis and Forecast till 2030

Automotive coatings market accounted for USD 15.23 Billion in 2020 and is estimated to be USD 23.50 Billion by 2030 and is anticipated to register a CAGR of 4.5%

.A paint which is used to improve vehicle appearance and look, as well as to avoid corrosion and protect outer material from dust and dirt is referred as automotive coating. There are various methods and techniques which are followed for fast coating process and for its longer lifespan. Water-based acrylic polyurethane enamel paint is commonly used to reduce environmental impact. A typical automotive coating system consists of four layers namely, the e-coat, the primer or filler, the basecoat and the clear coat. Paint application requires preparation of primers before it is applied followed by basecoat is applied. Primers serves as leveler, it is important surface which protects the vehicles from corrosion, heat differences, bumps, stone-chips, UV-light etc. Base coat contains the visual properties of color and effects, and is usually the one referred to as the paint. Nowadays, automotive paints come in liquid form, spray form, and powder forms: - Liquid, spray, and powder or additives.

Rising demand of customization of cars

Increasing vehicle production across the globe and increasing preference for various color combination for vehicles among users are the major factors driving growth of the global automotive coatings market. Moreover, advancements in spray painting machine and increasing demand for powder coating are the other factors expected to propel growth of the target market during the next ten years. Usage of technology provides a virtual experience to the customer about color and texture with 3-D viewpoint to effectively imagine the looks of the vehicle after actual processing. Such advancement in the automotive coatings is expected to expand the market potential. Changing customer preference on customization is also projected to propel the growth of the target market.

However, volatile prices of raw material and raw material supply chain issues are the major factors expected to hamper growth of the global automotive coatings market.

The global automotive coatings market is segmented based on resin type, coat type, technology, end–use application, and region.

On the basis of resin type, the global automotive coatings market has been segmented into polyurethane, epoxy, acrylic, and others (silicone and alkyd). Coat segment includes clear coat, basecoat, e–coat, and primer. Also, on the basis of technology type, the global automotive coatings market has been segmented into solvent–borne, water–borne, and others (powder coating and UV–cured coating). End–use application segment includes light vehicle OEM, commercial vehicle OEM, and automotive refinish.

Regional Insights:

The global automotive coatings market accounted for US$ 15.23 billion in 2020 and is estimated to be US$ 23.50 billion by 2030 and is anticipated to register a CAGR of 4.5%. On region the global automotive coatings market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to account for major market share in terms of revenue as compared to that of other regions, and is expected to maintain its dominance throughout the forecast period. This growth is highly associated with increasing sales of cars and other commercial vehicles in countries in the region. North America is expected to witness highest share in terms of revenue during the forecast period.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global automotive coatings market report based on resin type, coat type, technology, end–use application, and region.

Global Automotive Coatings Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating in the global automotive coatings market includes BASF SE, PPG Industries, Inc., Akzonobel N.V., Kansai Paint Co., Ltd., Axalta Coating Systems, The Valspar Corporation, Nippon Paint Holdings Co., Ltd., KCC Corporation, The Sherwin-Williams Company, and Jotun.

Nippon Paint Holdings Co. Ltd:

NIPSEA group announced the expansion of its product line in automotive businesses to offer end-to-end solutions. The ‘n-force’ brand, which comprises of avast portfolio of non-paint consumables, will complement Nippon Paint’s full range of paint products.

Company Profile:

• BASF SE
• PPG Industries, Inc.
• Akzonobel N.V.
• Kansai Paint Co., Ltd.
• Axalta Coating Systems
• The Valspar Corporation
• Nippon Paint Holdings Co., Ltd.
• KCC Corporation
• The Sherwin-Williams Company
• Jotun