$27.64 Bn Automotive Coatings Market - Global Forecast to 2027: North America accounted for the largest share of more than 45% in 2019 - ReportCrux

ReportCrux Market Research has published a Latest report titled Automotive Coatings Market by Technology (Waterborne, Solvent borne, UV – Cured); by Resin (Polyurethane, Acrylic, Epoxy); by Product (Primer, Basecoat, Electrocoat, Clearcoat); by End Use (Commercial OEM, Light vehicle OEM, Automotive Refinish) and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027.

Automotive Coatings Market Size
The global Automotive Coatings Market is estimated to grow from USD 17.82 Billion in 2019 to reach USD 27.64 Billion by 2027, at a CAGR of 5.7% during the forecast period from 2020-2027.

A thorough analysis on market effect factors, market risks, technological progress, consumer buying behaviour is covered along with value chain analysis, upstream and downstream market development trends and price and cost trends for product and raw materials.

Request a Sample PDF of Report @ https://reportcrux.com/request-sample-report/Automotive-Coatings-Market

Covid-19 impact analysis
Covid-19 impact analysis focuses on analysing pre- and post-pandemic growth trends, short term and long-term industry dynamics across major regions. Covid-19 recovery path analysis gives insights on the major strategies implemented by industries to respond and recover from the economic crisis due to Covid-19 pandemic. Also, SWOT analysis, PESTEL analysis and Porter's Five forces analysis is clear understanding of market growth influencing factors.

The report offers critical market information crucial for business decisions and strategy implementation based on current market trends and scope. The report also adds strategic inputs gained from key opinion leaders and business decision makers in the related industry.

Regional Analysis
North America accounted for the largest share of more than 45% in 2019

At regional level, market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America was the dominant regional market in 2019 with revenue share of about 46.8% in 2019, whereas the Asia Pacific market is expected to grow at the fastest pace oh CAGR 6.4% during the forecast period.

The emerging countries like Thailand, Indonesia, India, South Korea & China are experiencing a gradual rise in the use of automotive coating across its end user industry. China, due to the rising purchasing power, high economic growth rate, is expected to remain as the largest market in the Asia Pacific region during the forecast period. Also, the global production capacity shift from the developed regions to the developing countries is expected to enhance the further growth.

Key Market Players Analysis:
BASF SE
Axalta Coating Systems
PPG Industries, Inc.
Kansai Paint Co., Ltd
Nippon Paint Holdings Co., Ltd.
The Valspar Corporation
KCC Corporation
Sherwin-Williams
AkzoNobel
Jotun A/S
Bayer AG, KCC Corporation
Arkema SA
Becker Industrial Coatings Ltd.
Berger Paints India Limited
Cabot Corporation
Clariant
Eastman Chemical Company
DSM
Solvay S.A.
Others

Segmentation Analysis
Automotive coating solutions also help in improved protection from the environmental aggressors like moisture, snow, water and rust. Various customers are continuously for the use of these products as even after the rough use, these help in proper maintenance of the vehicles. Various industry players are continuously investing in introducing different high-performance and economical solutions in order to remain ahead in the competition.

Based on Technology

Waterborne technology to show lucrative growth during the forecast period of 2020 to 2027

Based on Technology, the market is segmented into Waterborne, Solvent borne and UV - Cured technologies. Waterborne technology is expected to grow with the fastest CAGR of 6.8% during the forecast period of 2020 to 2027.

Waterborne coatings possess very low residual toxicity as well do not contain any volatile compounds. Also, the gradual shift to the non-toxic solutions coupled with the rising adoption of various sustainable products in the paint shops is expected to boost the market for Waterborne technology segment.

Based on Resin

Polyurethane Resin segment dominated the global automotive coating market in 2019

Based on Resin, the market is segmented into Polyurethane, Acrylic, Epoxy and Others. Wherein, the Polyurethane segment dominated the market by about 36.12% in 2019. The high share of this segment is due to the rising use of polyurethane in the topcoat. Greater flexibility along with high impact, corrosion and heat resistance makes this resin the most suitable for its use in the basecoat as well as in the clearcoat, thus making this segment the most dominant in the market.

Based on the Product

Clearcoat segment by product acquired the maximum share of global automotive coating market in 2019

Based on the Product, the market is segmented into Primer, Basecoat, Electrocoat and Clearcoat. Clearcoat segment acquired the maximum share of about 34.8% in 2019, whereas the Basecoat segment is estimated to grow at the fastest CAGR of 6.5% during the forecast period. Various key players are into innovating new technologies which are used in the automotive coating industry.

The latest technologies omit the initial primer layer and instead replace it with two layers of the basecoat. Our of the two layers, one layer is the advanced basecoat and the other one absorbs UV. These new technologies are thus driving the overall growth of the basecoat market segment.

By End Use

Light vehicle OEM end user dominated global automotive coating market by more than 40% in 2019

By End Use, the market is segmented into Commercial OEM, Light vehicle OEM and Automotive Refinish. Light vehicle OEM dominated the market in 2019, by acquiring about 42.9% of the global market and is likely to keep dominating the market with the in the upcoming years.

Rising demand for the passenger cars in the developing countries like Thailand, Singapore, China, India, Brazil and similar is expected boost the growth of this segment. Coupled with this, increasing per capita income, rapid urbanization and the population growth are adding to the market growth. Automotive Refinish segment is expected to grow with the fastest CAGR of 6.8% during the forecast years of 2020 to 2027.

The report is prepared by thorough primary and secondary research. Secondary data sources include company websites, magazines, press releases, SEC filings, various paid databases and others. Primary research involves interviews with key industry experts, KOLs, major vendors from both supply and demand side.

Are you Looking for Regional Insights / Report Customization?: https://reportcrux.com/request-customization/Automotive-Coatings-Market

Global Automotive Coatings market report is segmented as:
By Technology

Waterborne
Solvent borne
UV - Cured
By Resin

Polyurethane
Acrylic
Epoxy
Others
By Product

Primer
Basecoat
Electrocoat
Clearcoat
By End Use

Commercial OEM
Light vehicle OEM
Automotive Refinish
The regional scope covers value (revenue) and volume data for below mentioned countries and regions:

North America (U.S., Canada, Rest of North America)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Southeast Asia, Rest of Asia Pacific)
Latin America (Brazil, Mexico, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa)

Years considered in the report are:
Historic Years: 2016-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2020 to 2027

Table of Content
1. Preface

2. Research Methodology
2.1. Research Methodology
2.2. Models
2.3. Research limitations

3. Executive Summary

4. Post COVID-19 Industry Dynamics

5. COVID-19 Impact Analysis on Industry
5.1. Restrictions due to COVID-19
5.2. Demand-side Constraints
5.3. Supply-side Constraints

6. Market Price & Cost Analysis
6.1. Price Trend Analysis of the Market

Continued....

Browse Full Report Access here: https://reportcrux.com/summary/7191/Automotive-Coatings-Market

Contact Us:
Company Name: ReportCrux Market Research
Name: Ms. Samantha M.
Email: samantha@reportcrux.com
Website : https://reportcrux.com/
Phone: +1-888-526-5515 (US/Canada), +91 89561 57215 (India)

ReportCrux is a global market intelligence aggregator and publisher of market research reports, business information reports, economic and equity reports. We cater a diverse range of industrial sectors along with niche domains and sub-domains within the industry. We offer exclusive blend of cutting-edge market insights for the critical business needs.

This release was published on openPR.