Automotive Paint Market 2022 Regional Competitions, Latest CAGR, SWOT Data, Opportunity and Forecast by 2027

Astute Analytica released a new market report on the Automotive Paint Market. The in-depth study of the industry includes inputs, information, and data from primary and secondary sources that have been evaluated and verified by specialists in the target market.

Along with significant data and other pertinent information, the study evaluates the competitive landscape and global market growth trend based on the business overview and helps businesses and investment organizations better grasp the market's growth characteristics.

The Global Automotive Paint Market size will grow from US$ 18,023.8 million in 2021 to US$ 23,244.2 million by 2027, registering a tremendous compound annual growth rate (CAGR) of 4.3% during the forecast period 2022 to 2027.

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Regional Analysis:

As economies reopen and countries are lifting limitations, the US chemical industry is forecast for a significant recovery in 2022, which could boost plant utilization rates that were affected hard by the pandemic. In the United States, industrial production is forecast to increase by 5.5 percent in 2021 and 4.3 percent in 2022. Chemical volumes in the United States are forecast to rise 1.5 % in 2021 and 3.0% in 2022, while shipments to rise 8.0 % in 2021 and 2022, following a 13.5% drop in 2020.

The Asia Pacific region size value was 36.0% market share, maintaining the largest market share across all regions. As a result of the existence of critical developing economies such as China, India, and Japan in this region, recording the largest market share in the market. Paints and coatings, water treatment, personal care ingredients and cosmetics, electronics, agriculture, and other sectors employ chemicals throughout the Asia-Pacific area. For foreign investors, these places provide excellent investment options. China was the largest specialty chemical market in Asia in 2019, accounting for about 38.9% of the global market. India came in second with a 23.1% share of the total market.

COVID-19 Impact:

Almost every product people use has chemicals. Chemical businesses are functioning in a radically different paradigm as the effects of COVID-19 ripple over the globe and economic activity grinds to a standstill. There is a chasm in the demand for chemicals across end markets. The global supply networks disrupted, chemical companies' stock prices have taken major hits, and chemical manufacturer competitive orders have switched swiftly in the United States, the Middle East, China, and Europe.

Major Key Players in Automotive Paint Market are:

3M
Akzo Nobel N.V
Axalta Coating Systems LLC
BASF SE
Clariant AG
DOW Chemical
DuPont Coatings & Color Technologies Group
Kansai Paint Co. Ltd.
KCC
Nippon Paint Holdings Co. Ltd.
PPG Industries
Sherwin-Williams Company
Solvay
The Sherwin-Williams
Valspar Corporation
Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Automotive Paint Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market's overall size.

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Segmentation Overview

By Type

Electrocoat
Primer
Basecoat
Clearcoat
By Technology

Solvent-borne
Waterborne
Powder Coating
By Resin

Polyurethane
Epoxy
Acrylic
Other Resins
By Texture

Solid
Metallic
Matte
Pearlescent
Solar reflective
By Vehicle

Passenger Cars
Light Commercial Vehicle
Heavy Commercial Vehicle
By Channel

OEMs
Aftermarket
By Region

North America
US **
Canada
Mexico
South America
Argentina
Brazil
Rest of South America
Europe
UK **
Germany **
Italy
France
Spain
Russia
Poland
Rest of Europe
Asia Pacific
China **
Japan **
India **
ASEAN
South Korea **
Rest of Asia Pacific
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of the Middle East & Africa
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About Astute Analytica:

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This release was published on openPR.