The Global Automotive Coatings Market size was valued at USD 14.5 billion in 2023 and is projected to reach USD19.8 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.44% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Automotive Coatings Market
Global Automotive Coatings Market Drivers: Extensive Utilization of Passenger Cars Uplifting Market Growth
In recent years, the requirement for automobiles has increased substantially owing to the expansion of ride-hailing services and inclination of the consumers towards cars for intercity intracity travel. The tourism industry has grown significantly across the globe. This is attributed to the increased focus of various governments to boost the arrival of tourists. The increased tourist arrivals have resulted in higher demand for rental cars as they provide comfort to tourists and are cost-effective if compared to taxis. Hence, there is an increased usage of the passenger car fleet of the companies providing rental car services. Along with this, the consumers in the developed developing countries are highly using the personal automotive vehicles for daily commuting purposes. This widespread usage of cars deteriorates their outer paint. As a result, consumers are ensuring that their cars undergo regular maintenance including consistent coating furnishing to maintain its aesthetic looks, positively impacting the demand for automotive coatings.
Scope of the Report and Automotive Coatings Market Segmentation
By Product
-Primer
-E-coat
-Basecoat
-Clearcoat
By Technology
-Waterborne Coatings
-Solventborne Coatings
-Powder Coatings
-UV-Cured Coatings
By Resin Type
-Polyurethane
-Epoxy
-Acrylic
-Others
By End-Users
-OEMs
-Refinish
- the OEMs segment is poised for a substantial market share owing to the increasing manufacturing of passenger cars, vans, and commercial vehicles worldwide.
By Application
-Plastic-Parts
-Metal-Parts
Top leading companies in the Automotive Coatings Market includes:
BASF SE, Axalta Coating Systems, PPG Industries, Inc., Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., The Valspar Corporation, KCC Corporation, The Sherwin-Williams Company, Akzonobel N.V., Covestro AG, Arkema SA, Cabot Corporation, Clariant AG, Lord Corporation, Solvay S.A etc.
Automotive Coatings Market Development
- 2024: BASF SE announced the expansion of its e-coat production facility in Mangalore, India. E-coat is used to secure a car’s body from corrosion.
- 2023: PPG Industries., announced the launch of GLADIATOR XC Matte Extreme coating which is a low-gloss urethane protective coating that can be utilized in various industries including automotive.
For more detailed information about the Automotive Coatings market report, click here – https://www.marknteladvisors.com/research-library/global-automotive-coatings-market.html
Geographical analysis:
North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
- the Asia-Pacific holds a prominent market share owing to the higher number of automobiles manufacturers in the region.
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