Automotive coatings are used to coat automobile surfaces. These coatings are capable of producing durable surfaces, exceeding customers expectations of appearance, maximizing efficiency, and meeting environmental regulations. Automotive coatings have proven to enhance the appearance and durability of a vehicle, along with protection from extreme temperature, UV radiation, foreign particles, and acid rain.
Coatings are widely used in automotive industries in modern designs of head lamps that are made of blow molding compounds (BMC) for head lamp reflectors that are covered by a polycarbonate lens. Both the parts are coated mainly by UV coatings. Moreover, automotive coatings have significantly reduced corrosion protection, thereby leading to a long lasting appearance. Furthermore, the increasing demand for refinishing of vehicles globally owing to vehicle repair and maintenance raises the demand for paints and coatings.
This report projects the trends and opportunities of the global automotive coatings market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period. Our research teams have used various secondary resources and directories such as industrial databases, journals, magazines, primary resources coupled with industry oriented measures, which include industry-related expert interviews to obtain key information and valuables that makes it an asset for players in the market.
The automotive coatings market is emerging on account of the growing demand for powder coatings. Powder coatings are a solvent free method to lay surfaces that do not release volatile organic compounds. An increasing demand for electric and hybrid vehicles in light of carbon emissions is expected to fuel the industry growth in future. Moreover, raw materials widely used to manufacture coatings include pigments, additives, binders, and solvents.
Volatile prices of titanium dioxide, which is one of the most commonly used raw materials, is anticipated to hamper the market growth. The difficulty in sourcing raw materials is expected to serve as a major challenge for manufacturers over the forecast period. Furthermore, stringent regulations pertaining to volatile organic compound emissions and hazardous air pollutants, such as toluene, xylene, ethylbenzene, and methyl ethyl ketone, are anticipated to restrain the product demand. In addition, high flammability and toxicity of the aforementioned products are expected to cripple the growth in future.
The global automotive coatings market is segmented based on resin type, vehicle type, technology, coat type, and geography. By type, it is classified into polyurethane, epoxy, and acrylic. By vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. By technology, the market is segmented into solvent-borne, water-borne, powder coatings, and UV cured coatings. By coat-type, the market is segmented into clear coat, basecoat, primer, and e-coat. Geographically, the automotive coatings market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Key market players in this sector involve BASF, PPG Industries, Kansai Paints, Nippon Paints, AkzoNobel, Arkema SA, Beckers Group, Berger Paints, Clariant AG, Solvay, and Axalta Coating Systems.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the current trends, along with estimations and dynamics through 2016-2023, which will help identify prevailing market opportunities.
- Major countries in each region are mapped as per individual market revenue.
- Region-wise and country-wise automotive coatings market conditions have been comprehensively analyzed in the report.
- Key players of the automotive coatings market have been listed.
- This study evaluates a competitive landscape and value chain to understand the competitive environment across geographies.
- An in-depth analysis of segmentation of the automotive coatings market within the market has been provided.
Automotive Coatings Market Key Segments
By Resin Type
- Others (Alkyd, Polyester, etc.)
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Powder Coating
- UV cured coatings
By Coat Type
- Clear coat
- Others (Anti-Rust
- North America
- Rest of Europe
- Rest of Asia-Pacific