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Automotive Paints and Coatings Market Is Booming Worldwide by 2025 | BASF, Cabot Corp, Clariant AG, Covestro, DuPont, Eastman, PPG Industries, Inc., Valspar

Automotive Paints and Coatings Market Is Booming Worldwide

Rapid proliferation of the global automotive industry has been driving the automotive paints and coatings market size. Additionally, there is a rising trend of vehicle customizations to make it unique in appearance from others, which is also supporting the industry growth. The application of paints and coats not only improves the vehicle aesthetics but also protects the exterior from corrosion causing elements. The rising cases of accidents and crashes will propel repair and restoration services which will further provide significant traction for the market outlook.

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The availability of broad spectrum of economical cars coupled with hassle free financing has been driving the automotive industry growth. Rise in per capita income along with shifting preferences for personal mobility are supporting the industry growth. Passenger cars are expected to witness high sales during the forecast timeframe, which will result in elevated demand for paints and coatings products.

Major players including in the automotive paints and coatings market

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

Primer coatings highly influence the quality of paint applied over it, attributed to the corrosion resistance and scratch protection abilities of the product. Additionally, it significantly protects the outer surface from stone chipping and UV rays. Moreover, the development of advanced primers makes it possible to apply on a plethora of surfaces including stainless steel, aluminum, and fiber glass, further augmenting the primer coating share over the forecast period.

The utilization of solvent based automotive paints and coatings in the automotive industry has led toward the increasing VOCs emissions, which are extremely hazardous to the health. This has followed in implementation of stringent regulations for controlling the VOC emissions, and thus stimulating the industry trends.

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The introduction of waterborne automotive paints and coatings has been widely accepted, owing to the lower VOC emissions and the presence of minimum toxic materials in the products. Moreover, the currently developed products tend to offer more durability and high corrosion resistance along with super gloss, which will be a key driver for the expansion of the waterborne automotive paints and coatings market share during 2019-2025.

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