Automotive Coatings Market Key Players are BASF, PPG Industries, AkzoNobel, Arkema SA, Clariant, Jotun, DSM, Solvay, Axalta Coating Systems

Automotive Coatings Market size will cross USD 28 billion by 2022; as per the latest report by Global Market Insights, Inc. Asia Pacific automotive industry growth is the major driving factor for the rise in automotive coatings market. Recent infrastructural developments including road connectivity, coupled with growing PPP of emerging countries of East and South East Asia will have a positive impact on the market in the next few years. China controls over a quarter of the global automotive market, both in terms of demand as well as supply.

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Vehicle production in the country recorded a volume of over 23.7 million units in 2014, while around 23.5 million vehicles were sold in the same year. Japan and India followed with sales of over 5.5 million and 3 million vehicles respectively in 2014. Attractive and protective coatings are gaining popularity for protecting the vehicles from corrosion or decolorization due to harmful ultraviolet rays, atmospheric acidity, highly inconsistent climate, extreme temperature variation, etc. while enhancing the aesthetic features.

Primer automotive coatings market may surpass USD 3.5 billion by 2022. Primer acts as protector and leveler for automobiles and other components as it is the first layer of coating applied. It protects from heat differences, stone-chips, bumps, UV-light and corrosion and makes easier for paints to stick to the surface.

Basecoat automotive coatings market should witness over 5% gains by the end of forecast period. It is applied after primer to provide exact color and effects as desired on components. Basecoat is categorized into metallic, solid and pearlescent paints. Solid paints provide only color, metallic paint creates a sparkling effect with color and pearlescent paints contain special pigment called as pearls to provide sparkle to the finished work.

Light weight OEMs may surpass USD 11.5 billion by 2022. It is the major end-user segment with over 40% of the total automotive coatings market share. Light weight OEMs includes personal car along with tracking devices, automatic lights and other sophisticated technologies may boost product demand.

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Asia Pacific, driven by China, India, and Japan, is a significant consumer region with over 50% of the global automotive coatings market size. This dominance is on the account of developing infrastructure and increasing purchasing power of the people of the emerging countries.

Global automotive coatings market share is competitive and consolidated with prominent players including AkzoNobel, PPG Industries, BASF and Axalta Coatings. Other key manufacturers include Nippon Paint, Kansai Paints, Berger Paints, Sherwin-Williams, DSM, Arkema, KCC Paint, Lord Corporation, Valspar Corp, Beckers Group, Clariant, Eastman Chemical Company, Solvay and Cabot Corporation.

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