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Automotive Coatings Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

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from $4,850 216 Pages Fortune Business Insights Pvt. Ltd. May, 2024 FOB18819837
Best Price Guarantee
Price from $4,850
Length 216 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date May, 2024
SKU FOB18819837

Automotive Coatings Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Automotive Coatings Market

The global automotive coatings market size was valued at USD 23.72 billion in 2023 and is projected to grow from USD 25.94 billion in 2024 to USD 57.27 billion by 2032, exhibiting a CAGR of 10.4% during the forecast period of 2024-2032.

The automotive coatings market has gotten massive pressure from the COVID-19 pandemic, which fell the world's needs. The global pandemic has caused governments to apply lockdown and travel restrictions, leading to a decline in the supply of manufactured vehicles and the stoppage of newly bought ones, affecting automotive coatings market growth.

The global automotive coatings market is operational due to various factors like the rise of the need for high-performance cars, growing prospects of electric vehicles, and consumers' demand for greener and eco-friendly coating products. Another driver is the growth of markets for high-end cars coated with complex formulas to protect their condition and strength.

The automotive coatings sector is experiencing a ""green"" revolution because of environmental issues and the increasing demand for eco-friendly products. Water-borne paints, which are greener than solvent-based versions, are, thanks to the trend made a choice, impeding a global rise in automotive coatings market share. Besides, the sector is paying attention to using bio-based materials harvested from renewable resources as a sustainable alternative. Through inventing green solutions, the industry is managing to decrease its carbon footprint and create a path to a more ecologically committed future.

Comprehensive Analysis of Automotive Coatings Market

The segmentation of the automotive coatings market undergoes resin, technology, coat type, and application. Acrylic resin is the primary particle in the resin market, followed by growing prevalent requests from the auto sector. The epoxy resin segment is supposed to grow remarkably due to superiority, chemical resistance, and toughness. With technology, waterborne coatings are expected to rule this segment because of their VOC control skills and eco-friendliness. The use of powder coatings is also forecasted to increase because of its high abrasion and anti-corrosion features. Conversely, according to the coat types, basecoats are the dominant portion, serving the exterior aesthetics and a car’s desired colors, among other things. Segmentation of the market is also conducted by application of OEM, which is the most significant segment in view of the increasing number of passenger cars.

The Asia Pacific region led the medical devices market by benefitting a size of USD 10.94 billion in 2023 due to the growing desire for passengers and trucks on the roads, making automotive coatings needed.

The leading players in the automotive coatings market significantly influence its growth trajectory and set industry standards. These key players, including BASF SE (Germany), PPG Industries, Inc. (U.S.), Nippon Paint Holdings Co., Ltd. (Japan), AkzoNobel (Netherlands), The Sherwin-Williams Company (U.S.), Axalta Coating Systems, Ltd. (U.S.), PPG Asianpaints (India), Kansai Paint Co., Ltd. (Japan), and Kansai Nerolac Paints Limited (India), contribute to a competitive landscape, driving innovation and market advancement in the automotive coatings industry.

In August 2022, Axalta entered the automotive refinish sector with the latest basecoat technology, which has taken a new form in Latin America. Latin America is now at the leading edge of technology globally.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 10.4% from 2024 to 2032

Unit Value (USD Billion) and Volume (Kilo Tons)

Segmentation By Resin

Polyurethane

Epoxy

Acrylic

Others

By Technology

Waterborne coatings

Solvent borne coatings

Powder coatings

Others

By Coat Type

Electro coat

Primer

Base coat

Clear coat

By Application

OEM

Refinish

Plastic Part

By Region

North America (By Resin; By Technology; By Coat Type; By Application, By Country)

- U.S. (By Application)

- Canada (By Application)

- Mexico (By Application)

Europe (By Resin; By Technology; By Coat Type; By Application, By Country)

- Germany (By Application)

- UK (By Application)

- France (By Application)

- Spain (By Application)

- Italy (By Application)

- Rest of Europe (By Application)

Asia Pacific (By Resin; By Technology; By Coat Type; By Application, By Country)

- China (By Application)

- India (By Application)

- Japan (By Application)

- South Korea (By Application)

- Rest of Asia Pacific (By Application)

Latin America (By Resin; By Technology; By Coat Type; By Application, By Country)

- Brazil (By Application)

- Rest of Latin America (By Application)

Middle East & Africa (By Resin; By Technology; By Coat Type; By Application, By Country)

- Saudi Arabia (By Application)

- South Africa (By Application)

- Rest of the Middle East & Africa (By Application)


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1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends
4.2. Key Industry Developments - Policies, Partnerships, New Technology Launches, and Mergers & Acquisitions
4.3. Porters Five Forces Analysis
4.4. Insights on Regulatory Scenario
4.5. Latest Technological Advancement
4.6. Qualitative Insights on Impact of COVID-19 on Market
5. Global Automotive Coatings Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecast
5.2.1. By Resin (Value and Volume)
5.2.1.1. Polyurethane
5.2.1.2. Epoxy
5.2.1.3. Acrylic
5.2.1.4. Others
5.2.2. By Technology (Value and Volume)
5.2.2.1. Waterborne coatings
5.2.2.2. Solvent borne coatings
5.2.2.3. Powder coatings
5.2.2.4. Others
5.2.3. By Coat Type (Value and Volume)
5.2.3.1. Electro coat
5.2.3.2. Primer
5.2.3.3. Base coat
5.2.3.4. Clear coat
5.2.4. Application
5.2.4.1. OEM
5.2.4.2. Refinish
5.2.4.3. Plastic Part
5.2.5. By Region (Value and Volume)
5.2.5.1. North America
5.2.5.2. Europe
5.2.5.3. Asia Pacific
5.2.5.4. Latin America
5.2.5.5. Middle East & Africa
6. North America Automotive Coatings Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
6.2.1. By Resin (Value and Volume)
6.2.1.1. Polyurethane
6.2.1.2. Epoxy
6.2.1.3. Acrylic
6.2.1.4. Others
6.2.2. By Technology (Value and Volume)
6.2.2.1. Waterborne coatings
6.2.2.2. Solvent borne coatings
6.2.2.3. Powder coatings
6.2.2.4. Others
6.2.3. By Coat Type (Value and Volume)
6.2.3.1. Electro coat
6.2.3.2. Primer
6.2.3.3. Base coat
6.2.3.4. Clear coat
6.2.4. By Application
6.2.4.1. OEM
6.2.4.2. Refinish
6.2.4.3. Plastic Part
6.2.5. By Country (Value and Volume)
6.2.5.1. U.S.
6.2.5.1.1. By Application (Value and Volume)
6.2.5.1.1.1. OEM
6.2.5.1.1.2. Refinish
6.2.5.1.1.3. Plastic Part
6.2.5.2. Canada
6.2.5.2.1. By Application (Value and Volume)
6.2.5.2.1.1. OEM
6.2.5.2.1.2. Refinish
6.2.5.2.1.3. Plastic Part
6.2.5.3. Mexico
6.2.5.3.1. By Application (Value and Volume)
6.2.5.3.1.1. OEM
6.2.5.3.1.2. Refinish
6.2.5.3.1.3. Plastic Part
7. Europe Automotive Coatings Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecast
7.2.1. By Resin (Value and Volume)
7.2.1.1. Polyurethane
7.2.1.2. Epoxy
7.2.1.3. Acrylic
7.2.1.4. Others
7.2.2. By Technology (Value and Volume)
7.2.2.1. Waterborne coatings
7.2.2.2. Solvent borne coatings
7.2.2.3. Powder coatings
7.2.2.4. Others
7.2.3. By Coat Type (Value and Volume)
7.2.3.1. Electro coat
7.2.3.2. Primer
7.2.3.3. Base coat
7.2.3.4. Clear coat
7.2.4. By Application
7.2.4.1. OEM
7.2.4.2. Refinish
7.2.4.3. Plastic Part
7.2.5. By Country (Value and Volume)
7.2.5.1. Germany
7.2.5.1.1. By Application (Value and Volume)
7.2.5.1.1.1. OEM
7.2.5.1.1.2. Refinish
7.2.5.1.1.3. Plastic Part
7.2.5.2. UK
7.2.5.2.1. By Application (Value and Volume)
7.2.5.2.1.1. OEM
7.2.5.2.1.2. Refinish
7.2.5.2.1.3. Plastic Part
7.2.5.3. France
7.2.5.3.1. By Application (Value and Volume)
7.2.5.3.1.1. OEM
7.2.5.3.1.2. Refinish
7.2.5.3.1.3. Plastic Part
7.2.5.4. Spain
7.2.5.4.1. By Application (Value and Volume)
7.2.5.4.1.1. OEM
7.2.5.4.1.2. Refinish
7.2.5.4.1.3. Plastic Part
7.2.5.5. Italy
7.2.5.5.1. By Application (Value and Volume)
7.2.5.5.1.1. OEM
7.2.5.5.1.2. Refinish
7.2.5.5.1.3. Plastic Part
7.2.5.6. Rest of Europe
7.2.5.6.1. By Application (Value and Volume)
7.2.5.6.1.1. OEM
7.2.5.6.1.2. Refinish
7.2.5.6.1.3. Plastic Part
8. Asia Pacific Automotive Coatings Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecast
8.2.1. By Resin (Value and Volume)
8.2.1.1. Polyurethane
8.2.1.2. Epoxy
8.2.1.3. Acrylic
8.2.1.4. Others
8.2.2. By Technology (Value and Volume)
8.2.2.1. Waterborne coatings
8.2.2.2. Solvent borne coatings
8.2.2.3. Powder coatings
8.2.2.4. Others
8.2.3. By Coat Type (Value and Volume)
8.2.3.1. Electro coat
8.2.3.2. Primer
8.2.3.3. Base coat
8.2.3.4. Clear coat
8.2.4. By Application
8.2.4.1. OEM
8.2.4.2. Refinish
8.2.4.3. Plastic Part
8.2.5. By Country (Value and Volume)
8.2.5.1. China
8.2.5.1.1. By Application (Value and Volume)
8.2.5.1.1.1. OEM
8.2.5.1.1.2. Refinish
8.2.5.1.1.3. Plastic Part
8.2.5.2. India
8.2.5.2.1. By Application (Value and Volume)
8.2.5.2.1.1. OEM
8.2.5.2.1.2. Refinish
8.2.5.2.1.3. Plastic Part
8.2.5.3. Japan
8.2.5.3.1. By Application (Value and Volume)
8.2.5.3.1.1. OEM
8.2.5.3.1.2. Refinish
8.2.5.3.1.3. Plastic Part
8.2.5.4. South Korea
8.2.5.4.1. By Application (Value and Volume)
8.2.5.4.1.1. OEM
8.2.5.4.1.2. Refinish
8.2.5.4.1.3. Plastic Part
9. 8.2.5.4.1.4.
9.1.
9.1.1.
9.1.1.1. Rest of Asia Pacific
9.1.1.1.1. By Application (Value and Volume)
9.1.1.1.1.1. OEM
9.1.1.1.1.2. Refinish
9.1.1.1.1.3. Plastic Part
10. Latin America Automotive Coatings Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. Market Size Estimates and Forecast
10.2.1. By Resin (Value and Volume)
10.2.1.1. Polyurethane
10.2.1.2. Epoxy
10.2.1.3. Acrylic
10.2.1.4. Others
10.2.2. By Technology (Value and Volume)
10.2.2.1. Waterborne coatings
10.2.2.2. Solvent borne coatings
10.2.2.3. Powder coatings
10.2.2.4. Others
10.2.3. By Coat Type (Value and Volume)
10.2.3.1. Electro coat
10.2.3.2. Primer
10.2.3.3. Base coat
10.2.3.4. Clear coat
10.2.4. By Application
10.2.4.1. OEM
10.2.4.2. Refinish
10.2.4.3. Plastic Part
10.2.5. By Country (Value and Volume)
10.2.5.1. Brazil
10.2.5.1.1. By Application (Value and Volume)
10.2.5.1.1.1. OEM
10.2.5.1.1.2. Refinish
10.2.5.1.1.3. Plastic Part
10.2.5.2. Rest of Latin America
10.2.5.2.1. By Application (Value and Volume)
10.2.5.2.1.1. OEM
10.2.5.2.1.2. Refinish
10.2.5.2.1.3. Plastic Part
11. Middle East & Africa Automotive Coatings Market Analysis, Insights and Forecast, 2019-2032
11.1. Key Findings / Summary
11.2. Market Size Estimates and Forecast
11.2.1. By Resin (Value and Volume)
11.2.1.1. Polyurethane
11.2.1.2. Epoxy
11.2.1.3. Acrylic
11.2.1.4. Others
11.2.2. By Technology (Value and Volume)
11.2.2.1. Waterborne coatings
11.2.2.2. Solvent borne coatings
11.2.2.3. Powder coatings
11.2.2.4. Others
11.2.3. By Coat Type (Value and Volume)
11.2.3.1. Electro coat
11.2.3.2. Primer
11.2.3.3. Base coat
11.2.3.4. Clear coat
11.2.4. By Application
11.2.4.1. OEM
11.2.4.2. Refinish
11.2.4.3. Plastic Part
11.2.5. By Country (Value and Volume)
11.2.5.1. South Arabia
11.2.5.1.1. By Application (Value and Volume)
11.2.5.1.1.1. OEM
11.2.5.1.1.2. Refinish
11.2.5.1.1.3. Plastic Part
11.2.5.2. Saudi Africa
11.2.5.2.1. By Application (Value and Volume)
11.2.5.2.2. By Application (Value and Volume)
11.2.5.2.2.1. OEM
11.2.5.2.2.2. Refinish
11.2.5.2.2.3. Plastic Part
11.2.5.3. Rest of Middle East & Africa
11.2.5.3.1. By Application (Value and Volume)
11.2.5.3.1.1. OEM
11.2.5.3.1.2. Refinish
11.2.5.3.1.3. Plastic Part
11.2.5.3.1.4. Others
12. Competitive Analysis
12.1. Business Strategies Adopted By Leading Players
12.2. Global Automotive Coatings Market Revenue Share/Ranking Analysis, By Key Manufacturer
13. Company Profiles
13.1. BASF (Germany)
13.1.1. Overview
13.1.2. Description
13.1.3. Technology Portfolio
13.1.4. Financials (As per Availability)
13.1.5. Recent Developments
13.2. PPG Industries, Inc. (U.S.)
13.2.1. Overview
13.2.2. Description
13.2.3. Technology Portfolio
13.2.4. Financials (As per Availability)
13.2.5. Recent Developments
13.3. Nippon Paint Holdings Co., Ltd. (Japan)
13.3.1. Overview
13.3.2. Description
13.3.3. Technology Portfolio
13.3.4. Financials (As per Availability)
13.3.5. Recent Developments
13.4. AkzoNobel (Netherlands)
13.4.1. Overview
13.4.2. Description
13.4.3. Technology Portfolio
13.4.4. Financials (As per Availability)
13.4.5. Recent Developments
13.5. The Sherwin-Williams Company (U.S.)
13.5.1. Overview
13.5.2. Description
13.5.3. Technology Portfolio
13.5.4. Financials (As per Availability)
13.5.5. Recent Developments
13.6. Axalta Coating Systems, Ltd. (U.S.)
13.6.1. Overview
13.6.2. Description
13.6.3. Technology Portfolio
13.6.4. Financials (As per Availability)
13.6.5. Recent Developments
13.7. ppg asianpaints (India)
13.7.1. Overview
13.7.2. Description
13.7.3. Technology Portfolio
13.7.4. Financials (As per Availability)
13.7.5. Recent Developments
13.8. Kansai Paint Co.,Ltd. (Japan)
13.8.1. Overview
13.8.2. Description
13.8.3. Technology Portfolio
13.8.4. Financials (As per Availability)
13.8.5. Recent Developments
13.9. Kansai Nerolac Paints Limited (India)
13.9.1. Overview
13.9.2. Description
13.9.3. Technology Portfolio
13.9.4. Financials (As per Availability)
13.9.5. Recent Developments
13.10. DSM (Netherlands)
13.10.1. Overview
13.10.2. Description
13.10.3. Technology Portfolio
13.10.4. Financials (As per Availability)
13.10.5. Recent Developments
14. Strategic Recommendations

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