Global Automotive Specialty Coatings Market, By Applications (Engine and Exhaust, Interior, Transmission, Wheel Rims), Type (Solvent- Borne, Waterborne, Powder Coatings), Resin Type (Polyurethane, Epoxy, Acrylic), Substrate (Metal, Plastic), Electric and Hybrid Vehicle Type (HEV, PHEV, BEV), Vehicle Type (Passenger Car, LCV, HCV) - Industry Trends and Forecast to 2029.
Global Automotive Specialty Coatings Market Analysis and Size
Automotive specialty coatings are known to protect against corrosion, and also provides enhanced performance under high temperatures. Various industries are dependent on this type of coating, such as refineries, oil and gas, aerospace, railway, pipeline, marine, OEM paint, fireproofing, petrochemical, and water and wastewater, among others.
- Global automotive specialty coatings market was valued at USD 3.32 billion in 2021 and is expected to reach USD 4.48 billion by 2029, registering a CAGR of 3.81% during the forecast period of 2022-2029. “Waterborne” accounts for the largest type segment owing to the stringent VOC regulations in Europe and North America. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Automotive Specialty Coatings Market Definition
Specialty coating refers to a type of coating that provides performance in accordance with the particular applications. Specialty coatings are known to offer numerous benefits including temporary protection, sealing, enhanced corrosion protection, substrate compatibility, fire resistance, antireflection, and excellent adhesive properties.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Applications (Engine and Exhaust, Interior, Transmission, Wheel Rims), Type (Solvent- Borne, Waterborne, Powder Coatings), Resin Type (Polyurethane, Epoxy, Acrylic), Substrate (Metal, Plastic), Electric and Hybrid Vehicle Type (HEV, PHEV, BEV), Vehicle Type (Passenger Car, LCV, HCV)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Akzo Nobel N.V. (Netherlands), Axalta Coatings Systems (US), Cabot Corporation (US), Carboline Company (US), Coolshield International Pty., Ltd (Australia), Delta T & Protective Products (Canada), Excel Enterprise (India), General Coatings (US), Jotun (Norway), Kansai Nerolac Paints Limited (India), Lincoln Industries (US), Mascoat (US), Mathur Corr Tech Private Limited (India), Nippon Paint Holdings Co., Ltd. (Japan), and Sharpshell Industrial Solutions (South Africa), among others
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Market Opportunities
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Automotive Specialty Coatings Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
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Increased Vehicle Production
The increase in the demand for high performance and reliability of automobiles among consumers acts as one of the major factor driving the growth of automotive specialty coatings market. The rise in demand for these enhanced vehicles escalate vehicle production.
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Use in Various Components
The surge in demand for specialty coating materials from the battery, electronic power and engine accelerate the market growth.
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High Adoption due to the Benefits
The rise in the adoption of automotive specialty coatings due to the various benefits, such as temporary protection, sealing, enhanced corrosion protection, substrate compatibility, fire resistance, antireflection, and excellent adhesive properties further influence the market.
Additionally, expansion of the automotive sector, surge in investments and increased disposable income extends profitable opportunities to the market players in the forecast period of 2022 to 2029.
Opportunities
Furthermore, increase in the sales of premium vehicles extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, advancements in the coating will further escalate the growth of automotive specialty coatings market.
Restraints/Challenges faced by the Automotive Specialty Coatings Market
On the other hand, rise in trends of engine downsizing and increase in the sales of bev are expected to obstruct market growth. Also, stringency of volatile organic compound (VOC) regulations are projected to challenge the automotive speciality coatings market in the forecast period of 2022-2029.
This automotive speciality coatings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized 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 the automotive speciality 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.
COVID-19 had a Major Impact on Automotive Speciality Coatings Market
The COVID-19 had a negative impact on the automotive speciality coatings market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for automotive speciality coatings market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the automotive speciality coatings market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Recent Developments
- In January 2019, Nippon Paint announced the launch of their unique car painting and car care centre concept- Nippon Paint X’press in India. This will provide world class body and paint repair and car care services.
Global Automotive Specialty Coatings Market Scope
The automotive specialty coatings market is segmented on the basis of application, type, resin type, substrate, electric and hybrid vehicle type, and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Applications
- Engine and Exhaust
- Interior
- Transmission
- Wheel Rims
On the basis of applications, the automotive specialty coatings market is segmented into engine and exhaust, interior, transmission and wheel rims.
Type
- Solvent- Borne
- Waterborne
- Powder Coatings
On the basis of type, the automotive specialty coatings market is segmented into solvent- borne, waterborne and powder coatings.
Resin Type
- Polyurethane
- Epoxy
- Acrylic
On the basis of resin type, the automotive specialty coatings market is segmented into polyurethane, epoxy and acrylic.
Substrate
- Metal
- Plastic
On the basis of substrate, the automotive specialty coatings market is segmented into metal and plastic.
Electric and Hybrid Vehicle Type
- HEV
- PHEV
- BEV
On the basis of Electric and hybrid vehicle type, the automotive specialty coatings market is segmented into HEV, PHEV and BEV.
Vehicle Type
- Passenger Car
- LCV
- HCV
On the basis of vehicle type, the automotive specialty coatings market is segmented into passenger car, LCV and HCV.
Automotive Specialty Coatings Market Regional Analysis/Insights
The automotive specialty coatings market is analyzed and market size insights and trends are provided by country, application, type, resin type, substrate, electric and hybrid vehicle type, and vehicle type.
The countries covered in the automotive specialty coatings market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the automotive specialty coatings market because of the increase in the sale and production of commercial vehicles within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the surge in automotive production in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Specialty Coatings Market Share Analysis
The automotive specialty 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 specialty coatings market.
Some of the major players operating in the automotive specialty coatings market are
- Akzo Nobel N.V. (Netherlands)
- Axalta Coatings Systems (US)
- Cabot Corporation (US)
- Carboline Company (US)
- Coolshield International Pty., Ltd (Australia)
- Delta T & Protective Products (Canada)
- Excel Enterprise (India)
- General Coatings (US)
- Jotun (Norway)
- Kansai Nerolac Paints Limited (India)
- Lincoln Industries (US)
- Mascoat (US)
- Mathur Corr Tech Private Limited (India)
- Nippon Paint Holdings Co., Ltd. (Japan)
- Sharpshell Industrial Solutions (South Africa)
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