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Automotive Paints & Coatings Market Business Insights, End Users Application And Forecast To 2025
Automotive Paints & Coatings Market
Polyurethanes will hold considerable share in the automotive paints & coatings market owing to enhanced resistance to chemical and weathering conditions. The improved corrosion resistance and durable properties increases the polyurethane coatings usage in heavy commercial vehicles (HCV). Paint manufactures are launching new premium quality products for HCVs to increase their revenue.
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Passenger cars will grow considerably in the automotive paints & coatings market over the study timeframe. The growth can be attributed to the availability of a wide vehicle model range across diversified price range. The availability of easier vehicle financing alternatives along with discounts offered by vehicle manufacturers in festive seasons to increase their sales are further supporting the market demand. Additionally, the entry of new players in the market are supporting the revenue generation over the projected timeframe.
Company Profiled:
1. Akzo Nobel NV
2. Axalta Coating Systems
3. BASF
4. Cabot Corp
5. Clariant AG
6. Covestro
7. Donglai Coating Technology
8. dupont
9. Eastman
10. Kansai Paint Co., Ltd
11. KCC Corporation
12. Nippon Paint Holdings Co. Ltd
13. PPG Industries, Inc.
14. Valspar
15. wanda refinish
Europe will showcase significant growth in automotive paints & coatings market owing to stringent vehicle paint regulations. The limiting usage of VOC based paints and development of wide water-borne paints and coatings are boosting the product penetration across the region. Moreover, the presence of multiple automobile OEMs focusing on offering a wide range of vehicles with diversified paint schemes at varied costs further accelerates the regional share over the study timeframe.
Clear coat automotive paints & coatings market will showcase considerable growth owing to benefits offered by this coat in protecting primer and base coats from adverse environmental conditions. The clear coat is non pigmented and offers superior mirror finish and glossy appearance to the vehicles. Additionally, the coat is also mixed with UV blockers to protect the base coat from harmful sun rays that fades the paint. Industry participants are continuously upgrading their portfolio for improving their market share.
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Matte paint texture will witness significant growth in the automotive paints & coatings market owing to non-reflective appearance, rough and sandy texture. The characteristics of textures including prevention from discoloration and oxidation, makes them suitable for wider applications. The matte texture is widely used in higher end automobiles. The paint offers improved protection form finger prints and offers premium color finish compared to its counterparts. However, easier visibility of scratches or dents may limit its usage over the study timeframe.
Water-borne paint technology will account for a considerable share in the automotive paints & coatings market. The benefits offered by the water-borne technology including reduced toxic materials content along with stringent regulations pertaining to reduction of VOC emission from painting process will support the market growth. Moreover, the improved durability along with higher corrosion resistance further expands the segment share from 2019 to 2025.
OEMs will hold dominance in the automotive paints & coatings market over the forecast timeframe. The dominance can be credited to the increasing vehicle production across the globe. Automotive manufactures are focusing on offering environment friendly and durable products with a wide range of color options. The automotive suppliers are expanding their paint shop network to support the higher vehicle production.
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Major automotive paints & coatings market players include Eastman, Nippon Paints Holdings Co. Ltd., Cabot Corp, Covestro, Dupont, PPG Industries Inc, and BAFS SE. The other notable participants are Axaltra Coating Systems, Donglai Coating Technology, Akzo Nobel NV, Wanda refinish, Valspar, and Clariant AG.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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