Press release
Automotive Coatings Global Market Report 2024 - By Growth, Key Trends, Drivers, Analysis, Forecast By 2033
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Automotive Coatings industry. This report on Automotive Coatings market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The automotive coatings market size has grown strongly in recent years. It will grow from $20.22 billion in 2023 to $21.99 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to automotive industry growth, environmental regulations, consumer preferences, OEM and aftermarket demand, globalization of automotive trade. The automotive coatings market size is expected to see strong growth in the next few years. It will grow to $30.88 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
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Key Market Players:
The Valspar Corporation, Solvay SA, Sherwin-Williams Company, Pittsburgh Plate Glass Company, Nippon Paint Automotive Coatings Co. Ltd.
Market Drivers:
According to the Automotive Coatings Market Report 2024 by The Business Research Company, the increasing global automobile production is expected to propel the growth of the automotive coatings market going forward. Vehicle production refers to the process of manufacturing, assembling, and constructing various types of vehicles, such as automobiles, trucks, buses, motorcycles, and other motorized vehicles. Automobiles uses automotive coatings to enhance aesthetics, protect against corrosion, and ensure durability, thereby extending the lifespan and preserving the appearance of the vehicle.
More information about the Global Automotive Coatings Market Report -
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Market segments for Automotive Coatings include:
• By Coat Type: Clearcoat, Basecoat, E-Coat, Primer
• By Resin Type: Polyurethane, Epoxy, Acrylic
• By Technology: Waterborne Coatings, Solventborne Coatings, Powder coatings, UV-Cured Coatings
• By Substrate: Metal, Plastics
• By End-Use: Light Vehicle OEM, Commercial OEM, Automotive Refinish.
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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