Automotive Specialty Coatings Market by Layer (Primer, Basecoat), by Technology (Solvent, Water based), by Resin (Polyurethane, Acrylic), by Application (Engine & Exhaust), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2019 to 2027)

AUTOMOTIVE SPECIALTY COATINGS MARKET: Summary

The Global Automotive Specialty Coatings Market is projected to reach around USD 3.8 billion by 2027 at a CAGR of around 2.8%.

Automotive specialty coatings are used on the surface of various vehicle parts to protect them from environmental damage such as UV radiation, corrosion, and for decoration purposes.  Benefits of specialty coatings help in improving vehicle performance under extreme temperature, substrate compatibility and enhances durability. It is applied on components such as engine, steering system, brake system, wheel rims, exhaust, suspension system, and others.

AUTOMOTIVE SPECIALTY COATINGS MARKET: Drivers & Restraint

Market Driver:

  • Strict Regulations Regarding Volatile Organic Compounds (VOC) Emissions

Government has imposed strict regulations for coatings makers such as National Volatile Organic Compound Emission Standards for Architectural Coatings, National Emission Standards for Hazardous Air Pollutants (NESHAP) and others to limit the use of volatile organic compounds (VOCs) in their products. VOCs contain a variety of chemicals that are widely found in products such as solvent-based paints/coatings, sealants, adhesives, organic solvents, and others. VOC-containing products cause air pollution and have adverse health effects. Hence, automotive coating technologies are shifting towards waterborne and powder coatings, as it's eco-friendly and cuts down the amount of VOCs they contain.

Therefore, strict regulations regarding VOC emissions are expected to boost the market growth during the forecast period.

 

  • Rise in Vehicle Production 

Growing vehicle production increases the number of coating applications which directly helps in propelling the demand for the automotive specialty coatings market. In 2018, India, Malaysia, Thailand, Russia and among others are the prominent countries that have shown positive growth of 8%, 12.2%, 9%, 13.9%, respectively. Moreover, rise in electric vehicle production in developing nations has increased the production of multi-material coating for bodyweight reduction such as aluminum, magnesium, ultra-high-strength steel (UHSS), carbon fiber reinforced polymers and various high-strength plastics.

Thus, the rise in vehicle production is anticipated to drive the market growth during the assessment period.

Market Restraint:

  • Volatility of Raw Material Prices

Raw materials such as resins, hardeners, aluminum paste, solvents, additives, catalysts, emulsion polymers, and others are used for the production of specialty coating. The cost of raw materials plays a vital role for coating manufacturers, as more than 50% of the operating costs are allotted to raw materials. Fluctuation in the prices of these materials is a major factor likely to hamper the market growth during the assessment period. Most of the raw materials used in the coatings industry are petroleum-based which adds up the cost on account of the supply-demand gap and uncertain shortages of crude oil.

Thus, the volatility of raw material prices is a major restraining factor for the market growth.

Automotive Specialty Coatings Market: Key segments

  • Based on Layer: Primer, Base Coat, Clear Coat, and E-Coat.
  • Based on Technology: Solvent Based, Water Based, Powder Coating and UV Cured Coating.
  • Based on Resin: Polyurethane, Acrylic, Epoxy, Polyesters, and Others.
  • Based on Application: Engine & Exhaust, Transmission System, Brake System, Steering System, Suspension System, Wheel Rims and Others.
  • Based on Region Covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

Automotive Specialty Coatings MARKET: Report Scope

The report on the automotive specialty coatings 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.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2018-2027

Base Year for Market Calculation

2019

Forecasted Period

2020-2027 (2020 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million), Volume (Kiloton)

Segments Included

 Layer, Technology, Resin, and Application

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South Africa

KEY Companies Covered

  • PPG Industries, Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • BASF SE
  • Axalta Coating Systems
  • Akzo Nobel N.V.
  • The Sherwin-Williams Company
  • Solvay
  • Nippon Paint Holdings Co., Ltd.
  • Covestro AG
  • Valspar
  • KCC Corporation
  • Other Key Companies

Automotive Specialty Coatings Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Automotive Specialty Coatings Market, by Layer

  • Primer
  • Base Coat
  • Clear Coat
  • E-Coat

Automotive Specialty Coatings Market, by Technology

  • Solvent-Based
  • Water-Based
  • Powder Coating
  • UV Cured Coating

Automotive Specialty Coatings Market, by Resin

  • Polyurethane
  • Acrylic
  • Epoxy
  • Polyesters
  • Others

Automotive Specialty Coatings Market, Application

  • Engine & Exhaust
  • Transmission System
  • Brake System
  • Steering System
  • Suspension System
  • Wheel Rims
  • Others

Automotive Specialty Coatings Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Norway
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions answered by the report

  • What are the prominent developments affecting the market globally and its growth?
  • What will be the impact of the developments in the market on the industry and the market players in the future?
  • What are the evolving variations of the market worldwide?
  • 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 world?
  • How are the key players leveraging in the present market scenario globally?

Report Audience

  • Automotive Specialty Coatings Market Providers
  • Automotive Specialty Coatings Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Automotive Specialty Coatings 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 SPECIALTY COATINGS MARKET STUDY

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Strict Regulations Regarding Volatile Organic Compounds (VOC) Emissions
      2. Rise in Vehicle Production
    3. Restraint
      1. Volatility of Raw Material Prices
    4. Opportunities
      1. Growing Adoption of High-End Vehicles
      2. Emergence of New Materials in Coatings
    5. Challenges
      1. Disadvantages Associated with Specialty Coatings
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. AUTOMOTIVE SPECIALTY COATINGS MARKET BY LAYER, Market Size in USD Million and Kiloton (2019-2027)
    1. Introduction
    2. Primer
    3. Base Coat
    4. Clear Coat
    5. E-Coat
  7. AUTOMOTIVE SPECIALTY COATINGS MARKET BY TECHNOLOGY, Market Size in USD Million and Kiloton (2019-2027)
    1. Introduction
    2. Solvent-Based
    3. Water-Based
    4. Powder Coating
    5. UV Cured Coating
  8. AUTOMOTIVE SPECIALTY COATINGS MARKET BY RESIN, Market Size in USD Million and Kiloton (2019-2027)
    1. Introduction
    2. Polyurethane
    3. Acrylic
    4. Epoxy
    5. Polyesters
    6. Others
  9. AUTOMOTIVE SPECIALTY COATINGS MARKET BY APPLICATION, Market Size in USD Million and Kiloton (2019-2027)
    1. Introduction
    2. Engine & Exhaust
    3. Transmission System
    4. Brake System
    5. Steering System
    6. Suspension System
    7. Wheel Rims
    8. Others
  10. AUTOMOTIVE SPECIALTY COATINGS MARKET BY REGION, Market Size in USD Million and Kiloton (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Norway
      7. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  11. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  12. COMPANY PROFILES
    1. PPG Industries, Inc.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. BASF SE
    3. Axalta Coating Systems
    4. Akzo Nobel N.V.
    5. The Sherwin-Williams Company
    6. Solvay
    7. Nippon Paint Holdings Co., Ltd.
    8. Covestro AG
    9. Valspar
    10. KCC Corporation
    11. Other Key Companies
  13. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY

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