The Market For Automotive Coatings Is Likely To Be Valued At US$ 33.44 Billion by 2032

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Automotive Coatings market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.

Sales of automotive coatings amounted to US$ 16.3 Billion in FY 2021, and is forecast to experience a year-over-year expansion rate of 4.3% in 2022, reaching US$ 17 Billion.

Furthermore, the industry is poised to document a value CAGR worth 7% from 2022 to 2032, reaching a market value of US$ 33.44 Billion by the conclusion of the said period of assessment. Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Automotive Coatings market.

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Key findings of the Automotive Coatings market study:

• The report provides a present market outlook on Automotive Coatings. Additionally, the Automotive Coatings market share is anticipated to grow with a CAGR of 7% in the forecast period.
• Regional breakdown of the Automotive Coatings market based on predefined taxonomy.
• Innovative manufacturing processes implemented by Automotive Coatings vendors in detail.
• Region-wise and country-wise fragmentation of the Automotive Coatings market to grasp the revenue, and growth outlook in these areas.
• Changing preferences among consumers across various regions and countries.
• Factors (Positive and Negative) impacting the growth of the global Automotive Coatings market.
• Automotive Coatings price, market share, and Trends forecast for assessment period 2022-2032

Key Segments Covered in the Automotive Coatings Industry Report

• By Resin Type :
  • Acrylics-based Automotive Coatings
  • Fluoropolymers-based Automotive Coatings
  • Urethanes-based Automotive Coatings
  • Epoxy-based Automotive Coatings
  • Poly Alkyds-based Automotive Coatings
  • Amines-based Automotive Coatings
• By Vehicle Type :
  • Passenger Cars
  • Commercial Vehicles
• By Technology :
  • Water Borne Automotive Coatings
  • Solvent Borne Automotive Coatings
  • UV Cure Automotive Coatings
• By Coat Type :
  • Top Coat
  • Primer
  • Base Coat
  • Clear Coat
• By Region :
  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

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What makes this Research different from others?

• COVID- Impact analysis- The report includes details of the impact of the pandemic on the Automotive Coatings market further including insights on the pre-COVID situation. Additionally, this report benefits in terms of post-COVID recovery prospects, changing consumer demands, and buying patterns valuable for Automotive Coatings companies.
• Industrial trend analysis- The research covers recent trends in the field of Automotive Coatings which are augmented with the applicable technologies and shifts in industrial processes. The scope for digital and industrial technologies is discussed in order to help client firms to understand the benefits and risks included in light of market trends.
• Automotive Coatings Sustainability metrics- The rising concerns of environmentally friendly production and consumption are taken to next level in this research, as research is focused on emerging methods of ensuring sustainability. These insights include climate-friendly initiatives adopted by some players in the industry. Furthermore, details of manufacturers’ impact on carbon footprint are evaluated intend to make clients aware of their contribution to sustainable development goals.

Competitive Landscape

With an average revenue range of US$ 5 Billion-US$ 8 Billion, the top five firms in the automotive coatings industry will continue to command roughly two-fifths of the market. This also suggests a high level of consolidation in the automotive coatings industry at the apex, as opposed to a fragmented nature at the apex. Recent developments in the market are as follows:

• In January 2022, Axalta Coating Systems introduced its new Global Automotive Color of the Year 2022 series of automotive coatings- specifically the Royal Magenta series. The new coatings shade is not only designed to enhance aesthetic appeal, but also provide more robust finish, protecting automotive bodies from abiotic conditions.
• PPG Industries announced in April 2022 its decision to introduce the PPG ENVIROCRONTM P8 Series Anti-Graffiti Coating at the PaintExpo 2022. The product is a hybrid powder coating that stands up to the harshest cleaners and chemicals and is designed to leave no trace of surface damage or graffiti residues. Since it is formulated without block agents, they contain no carcinogenic, mutagenic or toxic-to-reproduction (CMR) substances commonly found in other products.
• In May 2022, automotive giant BMW announced a collaboration with BASF in order to incorporate its CathoGuard 800 ReSource e-coat at its plants in Leipzig, Germany, and Rosslyn, South Africa. Additionally, BMW also intends to leverage the company’s iGloss matt ReSource Clearcoat throughout Europe. These coatings are capable of reducing CO2 emissions in the plants by as much as 40% per coating layer, which is equivalent to more than 15,000 tons.

Market Players:

• 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
• PPG

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