Global Automotive Paints and Coatings Market, By Vehicle Type (Passenger Cars, Heavy Commercial Vehicles and Light Commercial Vehicles), Coating Type (Basecoat, Primer, Electro Coat and Clear Coat), Technology Type (Solvent Borne, Waterborne, UV Curved and Powder), Texture (Metallic, Solid and Waste), Distribution Channel (Aftermarket and OEM), Raw Material (Epoxy, Acrylic, Polyurethane and Other Resins), Country (U.S., Canada, Mexico, Peru, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Automotive Paints and Coatings Market
Rising number of automobiles on the road meeting with accidents and requiring repairs is the root cause for the rise in demand for automotive paints and coatings. Data Bridge Market Research analyses that the automotive paints and coatings market would exhibit a CAGR of 5.70% for the forecast period. On the basis of current trends and insights, the current automotive paints and coatings market value USD 14,367.40 Million will climb up to USD 22,386.08 million by the year 2028.
Automotive paints and coatings are the surface solutions that provide protective layers to the metal and enhance the aesthetics of the vehicle. Automotive paints and coatings are applied on the surfaces of automobiles with spray guns. Automotive paints and coatings are water based solutions consisting of polyurethane-based enamel.
Upsurge in the automobile production has propelled the demand for automotive paints and coatings. Rising number of daily vehicle accidents has further boosted the demand for automotive paints and coatings. Focus on production of eco-friendly paints will further create lucrative growth opportunities for the automotive paints and coatings market. Rising personal disposable income is another indirect growth determinant for the market.
However, rising cost of automotive paints and coatings will create hindrances in the way of market growth. Volatility in the prices of raw materials will further challenge the automotive paints and coatings market growth. Fluctuating prices of raw materials will make it difficult to source them.
This automotive paints and coatings market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive paints and coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Paints and Coatings Market Scope and Market Size
The automotive paints and coatings market is segmented on the basis of vehicle type, coating type, technology type, texture, distribution channel and raw material. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Automotive paints and coatings market on the basis of vehicle type has been segmented into passenger cars, heavy commercial vehicles and light commercial vehicles.
- Based on coating type, the automotive paints and coatings market has been segmented into basecoat, primer, electro coat and clear coat.
- On the basis of technology type, the automotive paints and coatings market has been segmented into solvent borne, waterborne, UV curved and powder.
- On the basis of texture, the automotive paints and coatings market has been segmented into metallic, solid and waste.
- Automotive paints and coatings have also been segmented on the basis of distribution channel into aftermarket and OEM.
- On the basis of raw material, the automotive paints and coatings market has been segmented into epoxy, acrylic, polyurethane and other resins.
Global Automotive Paints and Coatings Market Country Level Analysis
The automotive paints and coatings market is analysed and market size insights and trends are provided by country, vehicle type, coating type, technology type, texture, distribution channel and raw material as referenced above.
The countries covered in the automotive paints and coatings market report are U.S., Canada and Mexico in North America, Peru, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Kuwait, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific is projected to undergo substantial gains and project highest compound annual growth rate for the forecast period. This is because of rising expansion of automobile industry in this region. Rising per capita income and vehicle affordability will further propel the demand for automotive paints and coatings. Setting up of manufacturing units by the major players in this region owing to the availability of abundant raw materials and cheap labour is another market growth determinant.
The country section of the automotive paints and coatings market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Paints and Coatings Market Share Analysis
The automotive paints and coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive paints and coatings market.
The major players covered in the automotive paints and coatings market report are BASF SE, PPG Industries, Inc., Akzo Nobel N.V., Axalta Coating Systems, The Sherwin-Williams Company, Nippon Paint (India) Private Limited., RPM International Inc., ppg asianpaints, DuPont., Clariant, Solvay, Cabot Corporation., Covestro AG, Donglai coating technology, Eastman Chemical Company, Kansai Paint Co.,Ltd., KCC CORPORATION., Valspar and Shanghai Kinlita Chemical Co., Ltd. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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