Automotive Coatings Market: Solvent-borne Coatings Currently in Demand Despite Concerns

Rockville, USA, 2019-Apr-23 — /EPR Network/ — A recently compiled report of Fact.MR, titled “Automotive Coatings Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018-2027,” gives a comprehensive analysis on the automotive coatings market worldwide. Size of the automotive coatings market has been evaluated for the historical period (2013-2017) and forecast period (2018-2027), and has been delivered in terms of value (US$ Bn) and volume (tons). The report also offers a detailed analysis and forecast on key segments and the competitive landscape of the automotive coatings market.

The automotive coatings market continues to witness significant transformation ranging from new material developments in the vehicle production to higher popularity of traditional colors compared to “more colorful” alternatives. The automotive coatings market is expected to witness an increase in volume sales of over 3,500 tons in 2018 over 2017, according to a recent Fact.MR study. Refinish formulations continue to gain center stage in the automotive coatings market, while water-borne coatings are gaining increased focus for basecoats.

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Compact Painting Processes Gain Emphasis to Attain Future Sustainability Targets

Coating process innovation and automotive design continue to drive the demand & supply trends in the automotive coatings market, with automakers exploring materials for creating multi-substrate designs and manufacturing light-weight cars. OEMs are continuously taking efforts to optimize the automotive coating process along with quality retention, as coating is deemed most energy- and cost-intensive process and has largest environmental footprint in the automotive industry.

Segmentation

The report offers a detailed analysis and forecast on the automotive coatings market based on a segmental analysis. Key segments identified in the automotive coatings market report include resin type, coat type, vehicle type, technology and region. All the automotive coatings market segments have been analyzed and important market numbers such as the market share, Y-o-Y growth, and revenue & volume comparison has been offered for these segments.

The report has split the automotive coatings market regionally into Middle East & Africa (MEA), North America, Europe, Japan, Latin America and Asia-Pacific excluding Japan (APEJ). A country-level analysis on all these regional markets for automotive coatings has also been offered in key dedicated chapters of the report.

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Material Constraints Ebb Smart Coatings Development

Focus on smart coatings in the automotive industry has been increasing in tandem with the use of low-temperature cure coating system, wherein the process requires modification into complete coating system. This further ensures all coating layers to be entirely cured at set specific temperature. Technology of low temperature curing, faster drying, along with high gloss has recently witnessed permeation in the bus and truck manufacturing. Key attributes of smart automotive coatings such as self-cleaning & self-healing, and solar reflective functionalities are expected to further drive their penetration into the industry.

Competition Landscape

Fact.MR’s study on the automotive coatings market delivers important information on the demand & supply trends of automotive coatings across the globe, coupled with a scrutinized assessment on competition landscape of the automotive coatings market. Exhaustive analysis on leading and emerging players in the automotive coatings market is offered in the report, which involves company overview, product overview, key financials and recent developments.

Key players profiled in the report include Nippon Paint (USA), Benjamin Moore & Co., Behr Process Corp., Kansai Paint Co. Ltd., BASF Coatings, Axalta Coating Systems, Nippon Paint Holdings Co., RPM International Inc., The Sherwin-Williams Co., AkzoNobel, and PPG.

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