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 4.50%. Demand and supply trends in the automotive coatings market are still being driven by coating process innovation and automotive design, with automakers researching materials for building multi-substrate designs and manufacturing light-weight cars. Coating is the most energy- and cost-intensive process in the automobile industry, with the highest environmental imprint. OEMs are constantly working to improve the car coating process while maintaining quality. This has prompted automotive coatings behemoths like PPG Industries, Axalta Coating Systems, and BASF to develop compact painting processes, which are quickly becoming the industry standard for meeting future sustainability goals.
The report " Global 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 (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
- PPG Industries has announced PPG ENVIROCRON Extreme Protection, a powder automotive coating system designed to protect coil-springs in OEM automobiles from corrosion and chipping.
- Sherwin-Williams has just released a new line of refinishing solutions, most of which are waterborne, that provide a highly productive basecoat, consistent performance, and a premium experience. These automotive coatings are permitted for use in both regulated and non-regulated locations under the National Rule.
Analyst View:
Rust, water, snow, and moisture are all environmental aggressors that automotive coating treatments help to defend against. Consumers are flocking to these goods since they aid in the correct maintenance of vehicles, even after extensive use. To stay competitive, industry players are increasingly investing in the introduction of cost-effective and high-performance solutions. The use of automotive coating solutions is projected to be boosted by rising trends in automobile refurbishment, custom paint patterns, and vinyls. These solutions aid in the protection and enhancement of vehicle custom paint coatings, extending the visibility and durability of costly paint customizations. Furthermore, these coatings protect against ordinary wear and tear as well as prolonged sun exposure, which is expected to boost the automotive coatings market.
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Key Market Insights from the report:
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 4.50%. The global automotive coatings market has been segmented on the basis of resin type, coat type, technology, end–use application, and region.
- Based on Resin Type, Global Automotive Coatings Market is segmented into Polyurethane, Epoxy, Acrylic, and Others (Silicone and Alkyd).
- Based on Coat Type, Global Automotive Coatings Market is segmented into Clearcoat, Basecoat, E–Coat, and Primer.
- Based on Technology, Global Automotive Coatings Market is segmented into Olvent–Borne, Water–Borne, and Others (Powder Coating and UV–Cured Coating).
- Based on End-User, Global Automotive Coatings Market is segmented into Light Vehicle OEM, Commercial Vehicle OEM, and Automotive Refinish.
- By Region, the Global Automotive Coatings Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Coatings Market:
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.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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