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Global Automotive Paints and Coatings Industry, By Vehicle (Passenger Car, Heavy Commercial Vehicles, and Light Commercial Vehicles), By Coating Type (Basecoat, Primer, Electrocoat and Clearcoat), By Technology (Solvent Borne, Water Borne, UV Curved and Powder), By Texture (Metallic, Solid and Matte), By Distribution Channel (Aftermarket and OEM) By Raw Material (Epoxy, Acrylic, Polyurethane, and Other Resins), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2030.
What are Automotive Paints and Coatings?
The automotive paints and coatings are the surface solutions that provide a protective metal layer and enhance the vehicle’s aesthetics. A spray gun applies automotive paints and coatings to the automobile’s surface. The purpose of the paints and coatings is to protect them from freezing winters, heavy rains, heavy summers, and the impact of daily UV rays without cracking, fading or peeling. Automotive paints and coatings are water-based solutions consisting of polyurethane-based enamel. Upsurge in automobile production has propelled the demand for automotive paints and coatings.Growth Driver
Active government support for the automobile industry
Government regulations support the private sector of the automotive industry and bring public benefits such as improved fuel efficiency. Demand for automotive paints is driven by rising demand for automobiles, and government regulations impact investment in technology and R & D. In addition, increased government support has enabled the world’s largest automakers to invest in production facilities in developing markets, thereby reducing production costs and increasing profits. In addition, government policies that support the automotive sector will lead to higher production, which will lead to higher demand for automobiles. As a result, the great demand for automotive paints and varnishes is driven by the expansion and development of the automotive industry.Opportunities
The growing use of bio-based and eco-friendly
Focus on producing a rising focus on eco-friendly and bio-based products will create lucrative growth opportunities for the automotive paints and coatings industry. The most noticeable benefit of using green paints is that these paints are better for the environment. Auto manufacturers commonly use waterborne paint. People may be able to match the existing color of their vehicle more accurately. Additionally, they may require less blending to match the color, decreasing labor and costs. Rising personal disposable income is another indirect growth determinant for the market.Restraints
Growing regulation threats and meeting formulators several registration requirements
The automotive paints and coatings market is one of the most regulated industries globally. However, the main problem is that almost all paints and coating products contain volatile organic compounds. VOCs can destroy ecosystems and, depending on the amount and type of VOCs released, can have debilitating consequences for people and the environment. As a result, the Industry’s ongoing challenge is replacing them and ensuring consistent performance while reducing VOCs. In addition, developing new coating technologies that meet the needs of formulators while meeting global regulations and regional market demands is a challenge for the global automotive paints and coatings market.Pre Covid-19 impact on the global Automotive Paints and Coatings Industry market
Before the Covid-19 pandemic, automobile sales increased, and the automobile sector set new records. Which helped to increase the automotive paint and coating industry, increasing disposable income, and rising urbanization worldwide had generated various opportunities for the automotive paints and coating industry market. Furthermore, increasing concerns about environmental conditions and growing interest in developing environmentally friendly paints and coatings are driving the automotive paints and coatings industry in the pre-covid period.Covid-19 impact on the global Automotive Paints and Coatings Industry market
In the Covid 19 pandemic, the global automotive paint and coating industry market has seen declines in car sales due to restrictions imposed by several governments to contain the spread of COVID-19. Countries worldwide are trying to prevent further infections by implementing various measures such as social distancing, quarantine and testing. Persons were forced to stay at home, and car sales plummeted. Restrictions implemented by several countries to contain COVID-19 have disrupted production and disrupted the entire supply chain. COVID-19 outbreak exposed multiple challenges for the automotive paint and coating sector.Post Covid-19 impact on the global Automotive Paints and Coatings Industry market
The outbreak of the COVID19 virus has reduced demand in the automotive paints and coatings market. Due to the pandemic, using paints and coatings in the automotive industry has slowed due to temporary closures of production facilities and isolated industrial activities. Therefore, due to the outbreak of COVID19, the global automotive paints and paints market will grow at a slow pace, which will negatively affect the paints and paints market. Furthermore, a rising focus on eco-friendly and bio-based products is expected to grow the automotive paints and coating industry during the covid post period.Vehicle Segmental Analysis
The global Automotive Paints and Coatings Industry is categorized into heavy commercial vehicles, light commercial vehicles, and passenger cars based on the vehicle. The passenger car segment captured the largest market share in 2021 and is projected to rise critically over the forecast period, 2022-2030, due to the availability of a widespread vehicle model range across the varied price range. The availability of easier alternatives to vehicle lending and the discounts automakers offer to increase sales during Christmas further support market demand.Coating Type Segmental Analysis
Based on the Coating Type, the global Automotive Paints and Coatings Industry is categorized into Basecoat, Primer, Electrocoat and Clearcoat. The Primer segment holds the largest market share in 2021 and is likely to grow significantly over the forecast period, 2022-2030. The segmental growth is due to the growing use of Primer Paints and Coatings to protect against scratch and superior corrosion protection. The Primer Paints and Coatings are ultraviolet (UV) ray protection with improved protection against stone chipping.Technology Segmental Analysis
Based on the Technology, the global Automotive Paints and Coatings Industry is categorized into Solvent Borne, Water Borne, UV Curved and Powder. The Water Borne segment accounted for the highest market percentage in 2021 is projected to generate a sizeable revenue over the forecast period, 2022-2030. The growth of the Waterborne segment is attributed to protecting the vehicle from bad weather and significant cost savings. Furthermore, waterborne technology provides high chemical resistance, lower temperature processing, and solvent-free preparation of coatings.Texture Segmental Analysis
Texture’s global automotive paints & coatings industry is segregated into Metallic, Solid and Matte. The Metallic segment captured the largest market share in 2022 and is expected to generate maximum profit during the forecast period, 2022-2030. The metallic texture is attributed to the non-reflective appearance, rough and sandy texture. It is extensively used in high-end automotive. It is appropriate for a wide range of applications due to its texture characteristics, such as the prevention of discoloration and oxidation.Distribution Channel Segmental
Analysis The global automotive paints & coatings industry is segregated into Aftermarket and OEM. The OEM segment captured the largest market share in 2022 and is expected to generate maximum profit during the forecast period, 2022-2030. It is attributed to the growing consumer spending on aesthetic appearance, functionality and comfort. The availability of corrosion-resistant and long-lasting paints will continue to support the expansion of the Industry.Raw Material Segmental Analysis
Based on the Raw Material, the global automotive paints & coatings industry is segregated into Epoxy, Acrylic, Polyurethane, and Other Resin. The Polyurethane segment captured the largest market share in 2022 and is projected to generate maximum profit during the forecast period, 2022-2030. It is attributed to the excellent mechanical and weather resistance. It has advantages such as high solvent resistance. The industry players are focusing on introducing eco-friendly polyurethane coatings to increase their market share.Region Segmental Analysis
The global automotive paints & coatings industry is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe has the largest market share in 2022 and is estimated to grow significantly during the forecast period, 2022-2030. Europe segment larger market because there are strong car makers in this area. In addition, the region is seeking prominent mergers and acquisitions among market participants that will intensify competition among market participants and make market development more volatile.Competitor Analysis
Companies include Baxalta coating system, Akzo Nobel NV, basf se, Berger paints ltd., cobot corporation, Clariant ag, Kansai paint co. Ltd., kcc corporation, ppg industries inc, rpm international inc, Sherwin Williams, Valspar Corporation, others prominent players in the global automotive paints and coatings industry. Key Stakeholders- Market research and consulting firms
- Industry associations
- Global automotive paints and coatings industry manufacturing firm
- Global automotive paints and coatings industry providers
- Local governments
- Regulatory bodies
- Suppliers
- Retailers
Recent Developments
- In March 2021, BASF signed a multi-year agreement with Mercedes Benz in the Asia-Pacific region, expanding its long-standing commercially recognized supplier status to Australia, Malaysia, Japan, South Korea.
- In March 2021, Akzo Nobel NVI acquired TitanSAU (Titan Paints) to strengthen its paint business in Spain, becoming one of its market leaders.
- In February 2021, AkzoNobel opened a new R & D center in Como, Italy, specializing in low-hardening powder coating.
Scope of the Report
| Report Attribute | Details |
|---|---|
| Market Size Value in 2021 | USD 16 Billion |
| The revenue forecast in 2028 | USD 23.58 Billion |
| Growth Rate | CAGR of 5.7% from 2022 to 2028. |
| Historical data | 2017-2020 |
| Forecast period | 2022 – 2028 |
| Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Key companies Profiled | Axalta Coating System, Akzo Nobel NV, BASF SE, Berger Paints Ltd., Cobot Corporation, Clariant AG, Kansai Paint Co. Ltd., KCC Corporation, PPG Industries Inc, RPM International Inc, Sherwin Williams, Valspar Corporation, Others Prominent Players |
Market Modelling
By Vehicle- Passenger Car
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Basecoat
- Primer
- Electrocoat
- Clearcoat
- Solvent Borne
- Water-Borne
- UV Curved
- Powder
- Metallic
- Solid
- Matte
- Aftermarket
- OEM
- Epoxy
- Acrylic
- Polyurethane
- Other Resins
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five forces analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10. PESTEL Analysis
4.11. Pre Covid-19 Impact
4.12. Covid-19 Impact
4.13. Post Covid-19 Impact
- Global Automotive Paints and Coatings Market, 2017-2030
5.1. Market size & Forecast, 2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Vehicle
5.2.1.1. Passenger Car
5.2.1.2. Heavy Commercial Vehicles
5.2.1.3. Light Commercial Vehicles
5.2.2. By Coating Type
5.2.2.1. Basecoat
5.2.2.2. Primer
5.2.2.3. Electrocoat
5.2.2.4. Clearcoat
5.2.3. By Technology
5.2.3.1. Solvent Borne
5.2.3.2. Water-Borne
5.2.3.3. UV Curved
5.2.3.4. Powder
5.2.4. By Texture
5.2.4.1. Metallic
5.2.4.2. Solid
5.2.4.3. Matte
5.2.5. By Distribution Channel
5.2.5.1. Aftermarket
5.2.5.2. OEM
5.2.6. By Raw Material
5.2.6.1. Epoxy
5.2.6.2. Acrylic
5.2.6.3. Polyurethane
5.2.6.4. Other Resins
5.2.7. By Region
5.2.7.1. North America
5.2.7.2. Europe
5.2.7.3. Asia Pacific
5.2.7.4. The Middle East & Africa
5.2.7.5. South America
- North America Automotive Paints and Coatings Market, 2017-2030
6.1. North America Automotive Paints and Coatings Market size & Forecast, 2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.2. North America Automotive Paints and Coatings Market Share & Forecast, 2017-2030
6.2.1. By Vehicle
6.2.1.1. Passenger Car
6.2.1.2. Heavy Commercial Vehicles
6.2.1.3. Light Commercial Vehicles
6.2.2. By Coating Type
6.2.2.1. Basecoat
6.2.2.2. Primer
6.2.2.3. Electrocoat
6.2.2.4. Clearcoat
6.2.3. By Technology
6.2.3.1. Solvent Borne
6.2.3.2. Water-Borne
6.2.3.3. UV Curved
6.2.3.4. Powder
6.2.4. By Texture
6.2.4.1. Metallic
6.2.4.2. Solid
6.2.4.3. Matte
6.2.5. By Distribution Channel
6.2.5.1. Aftermarket
6.2.5.2. OEM
6.2.6. By Raw Material
6.2.6.1. Epoxy
6.2.6.2. Acrylic
6.2.6.3. Polyurethane
6.2.6.4. Other Resins
6.2.7. By Country
6.2.7.1. U.S
6.2.7.2. Canada
6.2.7.3. Mexico
- Europe Automotive Paints and Coatings Market, 2017-2030
7.1. Europe Automotive Paints and Coatings Market size & Forecast, 2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.2. Europe Automotive Paints and Coatings Market Share & Forecast, 2017-2030
7.2.1. By Vehicle
7.2.1.1. Passenger Car
7.2.1.2. Heavy Commercial Vehicles
7.2.1.3. Light Commercial Vehicles
7.2.2. By Coating Type
7.2.2.1. Basecoat
7.2.2.2. Primer
7.2.2.3. Electrocoat
7.2.2.4. Clearcoat
7.2.3. By Technology
7.2.3.1. Solvent Borne
7.2.3.2. Water-Borne
7.2.3.3. UV Curved
7.2.3.4. Powder
7.2.4. By Texture
7.2.4.1. Metallic
7.2.4.2. Solid
7.2.4.3. Matte
7.2.5. By Distribution Channel
7.2.5.1. Aftermarket
7.2.5.2. OEM
7.2.6. By Raw Material
7.2.6.1. Epoxy
7.2.6.2. Acrylic
7.2.6.3. Polyurethane
7.2.6.4. Other Resins
7.2.7. By Country
7.2.7.1. Germany
7.2.7.2. UK
7.2.7.3. France
7.2.7.4. Italy
7.2.7.5. Rest of Europe
- Asia Pacific Automotive Paints and Coatings Market, 2017-2030
8.1. Asia Pacific Automotive Paints and Coatings Market size & Forecast, 2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.2. Asia Pacific Automotive Paints and Coatings Market Share & Forecast, 2017-2030
8.2.1. By Vehicle
8.2.1.1. Passenger Car
8.2.1.2. Heavy Commercial Vehicles
8.2.1.3. Light Commercial Vehicles
8.2.2. By Coating Type
8.2.2.1. Basecoat
8.2.2.2. Primer
8.2.2.3. Electrocoat
8.2.2.4. Clearcoat
8.2.3. By Technology
8.2.3.1. Solvent Borne
8.2.3.2. Water-Borne
8.2.3.3. UV Curved
8.2.3.4. Powder
8.2.4. By Texture
8.2.4.1. Metallic
8.2.4.2. Solid
8.2.4.3. Matte
8.2.5. By Distribution Channel
8.2.5.1. Aftermarket
8.2.5.2. OEM
8.2.6. By Raw Material
8.2.6.1. Epoxy
8.2.6.2. Acrylic
8.2.6.3. Polyurethane
8.2.6.4. Other Resins
8.2.7. By Country
8.2.7.1. China
8.2.7.2. India
8.2.7.3. Japan
8.2.7.4. Australia
8.2.7.5. Rest of Asia pacific
- The Middle East & Africa Automotive Paints and Coatings Market, 2017-2030
9.1. The Middle East & Africa Automotive Paints and Coatings Market size & Forecast, 2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.2. The Middle East & Africa Automotive Paints and Coatings Market Share & Forecast, 2017-2030
9.2.1. By Vehicle
9.2.1.1. Passenger Car
9.2.1.2. Heavy Commercial Vehicles
9.2.1.3. Light Commercial Vehicles
9.2.2. By Coating Type
9.2.2.1. Basecoat
9.2.2.2. Primer
9.2.2.3. Electrocoat
9.2.2.4. Clearcoat
9.2.3. By Technology
9.2.3.1. Solvent Borne
9.2.3.2. Water-Borne
9.2.3.3. UV Curved
9.2.3.4. Powder
9.2.4. By Texture
9.2.4.1. Metallic
9.2.4.2. Solid
9.2.4.3. Matte
9.2.5. By Distribution Channel
9.2.5.1. Aftermarket
9.2.5.2. OEM
9.2.6. By Raw Material
9.2.6.1. Epoxy
9.2.6.2. Acrylic
9.2.6.3. Polyurethane
9.2.6.4. Other Resins
9.2.7. By Country
9.2.7.1. Saudi Arabia
9.2.7.2. UAE
9.2.7.3. South Africa
9.2.7.4. Rest of The Middle East & Africa
- South America Automotive Paints and Coatings Market, 2017-2030
10.1. South America Automotive Paints and Coatings Market size & Forecast, 2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.2. South America Automotive Paints and Coatings Market Share & Forecast, 2017-2030
10.2.1. By Vehicle
10.2.1.1. Passenger Car
10.2.1.2. Heavy Commercial Vehicles
10.2.1.3. Light Commercial Vehicles
10.2.2. By Coating Type
10.2.2.1. Basecoat
10.2.2.2. Primer
10.2.2.3. Electrocoat
10.2.2.4. Clearcoat
10.2.3. By Technology
10.2.3.1. Solvent Borne
10.2.3.2. Water-Borne
10.2.3.3. UV Curved
10.2.3.4. Powder
10.2.4. By Texture
10.2.4.1. Metallic
10.2.4.2. Solid
10.2.4.3. Matte
10.2.5. By Distribution Channel
10.2.5.1. Aftermarket
10.2.5.2. OEM
10.2.6. By Raw Material
10.2.6.1. Epoxy
10.2.6.2. Acrylic
10.2.6.3. Polyurethane
10.2.6.4. Other Resins
10.2.7. By Country
10.2.7.1. Brazil
10.2.7.2. Argentina
10.2.7.3. Rest of South America
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company profile
11.7.1. Axalta Coating System
11.7.2. Akzo Nobel NV
11.7.3. BASF SE
11.7.4. Berger Paints Ltd.
11.7.5. Cobot Corporation
11.7.6. Clariant AG
11.7.7. Kansai Paint Co. Ltd.
11.7.8. KCC Corporation
11.7.9. PPG Industries Inc
11.7.10. RPM International Inc
11.7.11. Sherwin Williams
11.7.12. Valspar Corporation
11.7.13. Other Prominent Players.
Frequently Asked Questions (FAQ):
The automotive paints and coatings are the surface solutions that provide a protective metal layer and enhance the vehicle’s aesthetics. The paints and coatings protect them from freezing winters, heavy rains, heavy summers, and the impact of daily UV rays without cracking, fading or peeling.
Government regulations support the private sector of the automotive industry and bring public benefits such as improved fuel efficiency. Demand for automotive paints is driven by rising demand for automobiles, and government regulations impact investment in technology and R & D.
Due to the pandemic, using paints and coatings in the automotive industry has slowed due to temporary closures of production facilities and isolated industrial activities. Therefore, due to the outbreak of COVID19, the global automotive paints and paints market will grow at a slow pace, which will negatively affect the paints and paints market.
In March 2021, BASF signed a multi-year agreement with Mercedes Benz in the Asia-Pacific region, expanding its long-standing commercially recognized supplier status to Australia, Malaysia, Japan, South Korea.
The global automotive paints and coating industry and projected to reach USD 24.58 Billion by 2030, growing at a CAGR of 6.7% over the forecast period 2022-2030 and it was valued at USD 16.5 Billion in 2022.
Companies include Baxalta coating system, Akzo Nobel NV, basf se, Berger paints ltd., cobot corporation, Clariant ag, Kansai paint co. Ltd., kcc corporation, ppg industries inc, rpm international inc, Sherwin Williams, Valspar Corporation, others prominent players in the automotive paints and coatings industry.
