Data Bridge Market Research analyses that the automotive coatings market was valued at USD 16.24 billion in 2021 and will reach USD 28.26 billion by the year 2029, at a CAGR of 7.17% during the forecast period of 2022 to 2029.
Automotive coatings offer substantial beneficial properties for the surface of an object such as enhanced gloss, better clarity, excellent finish, along with considerable durability and weather ability. Additionally, these protective coatings also offer significant resistance to abrasion, impact, and chemicals. The clear coat segment accounted for the largest share, in terms of volume, of the overall automotive coating market
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Some of the major players operating in the automotive coatings market are BASF SE (Germany), Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), Kansai Paint Co., Ltd (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), KCC Corporation (South Korea), Sherwin-Williams (U.S.), AkzoNobel (Netherlands), and Jotun A/S (Norway) among others.
Global Automotive Coatings Market Scope:
The automotive coatings market is segmented on the basis of technology type, product type, application, end-use and resin. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology type
- Water-borne
- Solvent-borne
- Powder coating
- UV-cured
- Others
On the basis of technology type, automotive coatings market is segmented into water-borne, solvent-borne, powder coating, UV-cured and others.
Product type
- Electrocoat
- Primer
- Lear coat
- Basecoat
Based on product type, automotive coatings market is segmented into electrocoat, primer, clearcoat and basecoat.
Application
- Plastic
- Metal
Based on application, automotive coatings market is segmented into plastic and metal.
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Automotive Coatings Market Regional Analysis/Insights:
The automotive coatings market is analysed and market size insights and trends are provided by country, technology type, product type, application, end-use and resin as referenced above.
The countries covered in the automotive coatings market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the automotive coatings market due to the increasing expenditure for the development of improved infrastructure, rising preferences of consumer towards personal conveyance and rising growth of automotive industry within the region.
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