Automotive Coating Market: Summary
The Global Automotive Coating Market is projected to reach a value of over USD 28.4 billion by 2027 at a CAGR of around 6.2%.
Water-resistant dry coating applied to the various parts of vehicles for decorative, functional, and protective purpose is known as an automotive coating. Good elastomeric finish and greater surface harness are some of the important properties of the coating. They are served for different purpose on a different substance such as composite, plastic and metal. Enhanced gloss, better clarity, excellent finish, along with considerable durability and weather ability are some of the benefits offered by automotive coating for the surface of the object.
Automotive Coating Market: Drivers & Challenge
- Growing Demand for Waterborne Technology
Growing awareness about volatile organic compound (VOC) and regulations regarding its emission from hazardous air pollutants present in them like xylene, ethylbenzene, toluene, and methyl ethyl ketone. For instance, according to the Environmental Protection Agency (EPA), regulates VOC emission through National Volatile Organic Compound Emission Standards for Consumer and Commercial Products. VOC controls for products are typically based on the application of products, such as automotive refinish coating, aerosol coating, and consumer products. The constantly evolving environmental standards are increasing demand for water-based automotive coating. Moreover, water-based coatings are identical to the solvent-based coating in terms of pigments and binders, they differ in carrying agent. Thus, the growing demand for waterborne technology has expected to drive the growth of the automotive coating market during the forecasted period.
- Volatility of Raw Material Prices
Pigments, solvents, additives, and binders are raw materials used for manufacturing of automotive coatings. Volatile price of titanium dioxide is one of the most commonly used raw materials which result in fluctuation of the product price. This fluctuation may lead to the lesser sale margin of the product and may hamper the over market. Moreover, difficulty in sourcing the raw material may be another challenge posed for the volatility of the raw material price. Thus, the volatility of raw material price has expected to pose a major challenge for the growth of the automotive coatings market.
Automotive Coating Market: Key Segments
- Segmentation based on product: Primer, Electrocoat, Basecoat, and Clearcoat.
- Segmentation based on technology: Waterborne Coating, Solventborne Coating, Powder Coating, and UV-curved Coating.
- Segmentation based on application: Metal Parts, and Plastic Parts.
- Segmentation based on end-use: Light Vehicle OEM, Commercial Vehicle OEM, and Automotive Refinish.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Automotive Coating Market: Report Scope
The report on the automotive coating market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Kiloton)
Product, Technology, Application, End-use, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- PPG Industries, Inc.
- Axalta Coating Systems
- Kansai Paint Co.,Ltd.
- The Valspar Corporation
- Akzo Nobel N.V.
- Nippon Paint Holdings Co., Ltd.
- Arkema SA
- Koninklijke DSM N.V.
- Berger Paints India Limited
- Cabot Corporation
- Bayer AG
- The Sherwin-Williams Company
- Other Key Companies
Automotive Coating Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Coating Market, by Product
Automotive Coating Market, by Technology
- Waterborne Coating
- Solventborne Coating
- Powder Coating
- UV-curved Coating
Automotive Coating Market, by Application
- Metal Parts
- Plastic Parts
Automotive Coating Market, by End-use
- Light Vehicle OEM
- Commercial Vehicle OEM
- Automotive Refinish
Automotive Coating Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Automotive Coating Market Providers
- Automotive Coating Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Automotive Coating Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AUTOMOTIVE COATING MARKET STUDY