Automotive Paints Market By Vehicle Type (Passenger cars, Light commercial vehicle, Heavy commercial vehicle), By Technology (Waterborne Coatings, Solvent Borne Coatings, Powder Coatings), By Coating (Primer, Base coat, Clear coat, Electrocoat), By Texture Type (Solid, Metallic, Pearlescent, Others), By Sales Channel (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2021-2031
Automotive paints are majorly used on the surface of automobiles to protect them from environment damages. They consist of three important layers, primer, base coat, and clear coat. Primer is used to get the surface ready for painting as it helps the surface of paints from sticking to the vehicle. Base coat can be defined as the actual-colored paint of the vehicle, which is applied on the top of the primer layer. In addition, it does not contain any hardener or strengthener, and is a raw paint applied on the primer. Furthermore, on the top base coat, a layer of clear coat is applied to protect the base coat impart a glossy finish.
With rise in demand for vehicle ownerships, there has been increase in passenger car demand. Furthermore, manufacturers have widened their product offerings covering broad array of vehicle segment such as hatchback, sedan, crossover, and SUVs, which boosts the growth of the segment. In addition, rise in need for passenger cars is anticipated to boost demand for vehicle aesthetics, which propels demand for automotive paints.
In addition, high sales of electric passenger vehicle sales are expected to support the automotive paint market. Availability of many color shades, various texture designs, and others. For instance, according to the international energy agency (IEA) report, in 2020, Electric car sales reached a record 3 million, up by 40% from 2019. This strong growth was a stark contrast with general car market sluggishness globally, with overall car sales down 16% due to the COVID-19 crisis. After a decade of rapid growth, there are now over 10 million electric cars on the road, representing ~1% of the global car stock. High sales of electric and ICE passenger vehicles are expected to propel demand for automotive paints during the forecast period.
For the purpose of analysis, the global automotive paints market is segmented on the basis of coating, texture type, technology, vehicle type and sales channel. By coating, the market is segmented as primer, base coat, clear coat, electrocoat. On the basis of texture type, the market is studied across solid, metallic, pearlescent and others. On the basis on technology, the market is classified as waterborne coatings, solvent borne coatings and powder coatings. On the basis of vehicle type, the market is segmented as passenger cars, light commercial vehicles, and heavy commercial vehicle. On the basis of sales channel, the market is segmented as OEM and aftermarket.
Some major companies profiled in the report include BASF SE, PPG Industries Akzo Nobel N.V., Axalta Coatings Systems LLC, The Sherwin Williams Company, Kansai Paints Co. Ltd., Nippon Paints Holdings Co. Ltd., DuPont de Nemours Inc. Clariant AG and Solvay S.A.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive paints market analysis from 2021 to 2031 to identify the prevailing automotive paints market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the automotive paints market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global automotive paints market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Vehicle Type
Passenger cars
Light commercial vehicle
Heavy commercial vehicle
By Technology
Waterborne Coatings
Solvent Borne Coatings
Powder Coatings
By Coating
Primer
Base coat
Clear coat
Electrocoat
By Texture Type
Solid
Metallic
Pearlescent
Others
By Sales Channel
OEM
Aftermarket
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Europe
LAMEA
Latin America
Middle East
Africa
Key Market Players
PPG Industries
BASF SE
Akzo Nobel N.V.
Axalta Coatings Systems LLC
The Sherwin Williams Company
Kansai Paints Co. Ltd.
Nippon Paints Holdings Co. Ltd
DuPont de Nemours Inc
Clariant AG
Solvay S.A.
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