Data Bridge Market Research analyses that the automotive coatings market was valued at USD 16.24 billion in 2021 and will reach USD 28.26 billion by the year 2029, at a CAGR of 7.17% during the forecast period of 2022 to 2029.Automotive coatings are water-resistant dry coatings applied to various parts of a vehicle for functional, decorative, and protective purposes. Such coatings possess important properties such as good elastomeric finish and greater surface hardness. They serve different purposes for different substrates such as plastics, composites, and metal.
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Market Analysis and Insights
Automotive coatings offer substantial beneficial properties for the surface of an object such as enhanced gloss, better clarity, excellent finish, along with considerable durability and weather ability. Additionally, these protective coatings also offer significant resistance to abrasion, impact, and chemicals. The clear coat segment accounted for the largest share, in terms of volume, of the overall automotive coating market
COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation and it also very badly impacted the market of automotive coatings because of the covid-19 and lockdown all the shopping places and workshops are closed and it hindered the market. The cases of COVID–19 and decrease in sales of automobiles has limit the market growth. Major industry players are rapidly entering into long term contracts with suppliers so as to attempt to retain their customer base.
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Automotive Coatings Market Scope
The automotive coatings market is segmented on the basis of technology type, product type, application, end-use and resin. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology type
- Water-borne
- Solvent-borne
- Powder coating
- UV-cured
- Others
On the basis of technology type, automotive coatings market is segmented into water-borne, solvent-borne, powder coating, UV-cured and others.
Product type
- Electrocoat
- Primer
- Learcoat
- Basecoat
Based on product type, automotive coatings market is segmented into electrocoat, primer, clearcoat and basecoat.
Application
- Plastic
- Metal
Based on application, automotive coatings market is segmented into plastic and metal.
End-User
- Commercial OEM
- Automotive refinish
- Light vehicle OEM
On the basis of end-use, automotive coatings market is segmented into commercial OEM, automotive refinish and light vehicle OEM.
Resin
- Epoxy
- Polyurethane
- Acrylic
- Others
On the basis of resin, automotive coatings market is segmented into epoxy, polyurethane, acrylic and others.
Competitive Landscape and Automotive Coatings Market Share Analysis
The automotive coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive coatings market.
The major players covered in the silicon nitride market report are
BASF SE (Germany), Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), Kansai Paint Co., Ltd (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), KCC Corporation (South Korea), Sherwin-Williams (U.S.), AkzoNobel (Netherlands), and Jotun A/S (Norway) among others.
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