As per this study the Global Automotive Coatings Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%. By volume, the market was estimated XX KT in 2021 and is expected to reach XX KT by 2026 with a CAGR of XX%.
Automotive coatings are the coatings which are used for both protection as well as decoration purpose on automobiles. They can be categorized into paints, powders, and sprays as this products help to enhance the appearance and durability of the automobiles and also protect damages from harsh environment condition such as extremely high temperature, chemicals, and other foreign particles. Automotive coatings are also used for repair and maintenance purpose as they offer excellent weather resistance, exceptional color and gloss retention, outstanding oil, chemicals, water, and scratch resistance.
The market of automotive coatings is gaining substantial growth on the account of the increasing production of vehicles and rising demand of automotive refinish for improving appearance and durability of the automobiles. Also, rising production of hybrid and electric vehicles coupled with the advancement in the coating technology is further anticipated to foster the market growth. On the other hand, the volatile price of raw materials is projected to curb product demand.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of automotive coatings.
The broad automotive coatings market has been sub-grouped into product, technology, application, and end-use. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Metal Parts
- Plastic Parts
- Light Vehicle OEM
- Commercial Vehicle OEM
- Automotive Refinish
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for automotive coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Automotive Coatings Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the automotive coatings market includes AkzoNobel, Axalta Coating Systems, BASF, Bayer AG, Kansai Paint, KCC Paint, Nippon Paint, PPG Industries, Sherwin-Williams Company, Valspar Corporation, and others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.