Global Automotive Coating Market is projected to reach a value of over USD 28.4 billion by 2027
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
Market Driver:
- 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.
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Market Challenge:
- 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.
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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.
Report Features
Specifics
Historical/Estimated/Forecasted Market Size Years
2019–2027
Base Year for Market Calculation
2020
Forecasted Period
2021–2027 (2021 estimated year, forecasted up to 2027)
Measured Units
Value (USD Million), Volume (Kiloton)
Segments Included
Product, Technology, Application, End-use, and Region
Regional Coverage
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.
- Jotun
- The Valspar Corporation
- Akzo Nobel N.V.
- Nippon Paint Holdings Co., Ltd.
- Arkema SA
- Clariant
- Koninklijke DSM N.V.
- Berger Paints India Limited
- Cabot Corporation
- Bayer AG
- The Sherwin-Williams Company
- Other Key Companies
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Automotive Coating Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Coating Market, by Product
- Primer
- Electrocoat
- Basecoat
- Clearcoat
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
- US
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Content
1 Introduction
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL AUTOMOTIVE COATING MARKET BY PRODUCT, Market Size in USD Million (2019–2027)
7 GLOBAL AUTOMOTIVE COATING MARKET BY TECHNOLOGY, Market Size in USD Million (2019–2027)
8 GLOBAL AUTOMOTIVE COATING MARKET BY APPLICATION, Market Size in USD Million (2019–2027)
9 GLOBAL AUTOMOTIVE COATING MARKET BY END-USE, Market Size in USD Million (2019–2027)
10 Competitive Landscape
11 Company Profiles
12 Appendix
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