Global Automotive Coatings Market Overview:
According to MarkNtel Advisors study the Global Automotive Coatings Market size was valued at USD 14.5 billion in 2023 and is projected to reach USD19.8 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.44% during the forecast period, i.e., 2024-30.
Key Findings of the Study: Automotive Coatings market
Global Automotive Coatings Market Drivers:
Extensive Utilization of Passenger Cars Uplifting Market Growth – In recent years, the requirement for automobiles has increased substantially owing to the expansion of ride-hailing services and inclination of the consumers towards cars for intercity & intracity travel. The tourism industry has grown significantly across the globe. This is attributed to the increased focus of various governments to boost the arrival of tourists. The increased tourist arrivals have resulted in higher demand for rental cars as they provide comfort to tourists and are cost-effective if compared to taxis. Hence, there is an increased usage of the passenger car fleet of the companies providing rental car services. Along with this, the consumers in the developed & developing countries are highly using the personal automotive vehicles for daily commuting purposes. This widespread usage of cars deteriorates their outer paint. As a result, consumers are ensuring that their cars undergo regular maintenance including consistent coating furnishing to maintain its aesthetic looks, positively impacting the demand for automotive coatings.
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Scope of the Automotive Coatings Market Report Segmentation
-By Product
- Primer- Market Size & Forecast 2019-2030F (Thousand Tons)
- E-coat- Market Size & Forecast 2019-2030F (Thousand Tons)
- Basecoat- Market Size & Forecast 2019-2030F (Thousand Tons)
- Clearcoat- Market Size & Forecast 2019-2030F (Thousand Tons)
-By Technology
- Waterborne Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
- Solventborne Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
- Powder Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
- UV-Cured Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
-By Resin Type
- Polyurethane- Market Size & Forecast 2019-2030F (Thousand Tons)
- Epoxy- Market Size & Forecast 2019-2030F (Thousand Tons)
- Acrylic- Market Size & Forecast 2019-2030F (Thousand Tons)
- Others- Market Size & Forecast 2019-2030F (Thousand Tons)
-By End-Users
- OEMs- Market Size & Forecast 2019-2030F (Thousand Tons)
- Refinish- Market Size & Forecast 2019-2030F (Thousand Tons)
-By Application
- Plastic-Parts
- Metal-Parts
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Geographical analysis:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Geographically, the Asia-Pacific holds a prominent market share owing to the higher number of automobiles & manufacturers in the region. Asian countries have robust automotive manufacturing industries due to the business favorable policies & prevalence of the mass consumer base. This presence of the original equipment manufacturers is generating a consistent demand for coatings as well as related automotive paints in the region. Along with this, the growing initiatives by the national governments to boost manufacturing capability would continue to positively contribute to the growth of the Asia Pacific Automotive Lubricants Market.
Furthermore, the rising disposable income of the population in the Asia-Pacific countries has increased the popularity of premium passenger car models. This is resulting in the increased sales of luxury car models from brands such as BMW, Audi, etc. This, in turn, is facilitating the adoption of premium automotive coatings across the region, supporting the market growth.
Global Automotive Coatings Industry Recent Development:
- 2024: BASF SE announced the expansion of its e-coat production facility in Mangalore, India. E-coat is used to secure a car’s body from corrosion.
- 2023: PPG Industries., announced the launch of GLADIATOR XC Matte Extreme coating which is a low-gloss urethane protective coating that can be utilized in various industries including automotive.
Current Landscape of Automotive Coatings Market
The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Automotive Coatings market. The research report profiles major players, including
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- BASF SE
- Axalta Coating Systems
- PPG Industries, Inc.
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co., Ltd.
- The Valspar Corporation
- KCC Corporation
- The Sherwin-Williams Company
- Akzonobel N.V.
- Jotun A/S
- Bayer AG
- Arkema SA
- Beckers Industrial Coatings Ltd.
- Cabot Corporation
- Berger Paints India Ltd.
- Others
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- https://www.entrepreneurshipreporter.com/article/729444787-luxury-furniture-market-valued-at-around-usd-27-65-billion-in-2023-set-to-reach-around-usd-41-95-billion-by-2030
- https://www.keloland.com/business/press-releases/ein-presswire/729444787/luxury-furniture-market-valued-at-around-usd-27-65-billion-in-2023-set-to-reach-around-usd-41-95-billion-by-2030
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