The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Automotive Coatings Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
Automotive Coatings Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report, 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. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in Automotive Coatings Market Segmentation?
The report has segmented the market into the following categories:
By Product
- Primer- Market Size & Forecast 2019-2030F (Thousand Tons)
- E-coat- Market Size & Forecast 2019-2030F (Thousand Tons)
- Basecoat- Market Size & Forecast 2019-2030F (Thousand Tons)
- Clearcoat- Market Size & Forecast 2019-2030F (Thousand Tons)
By Technology
- Waterborne Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
- Solventborne Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
- Powder Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
- UV-Cured Coatings- Market Size & Forecast 2019-2030F (Thousand Tons)
By Resin Type
- Polyurethane- Market Size & Forecast 2019-2030F (Thousand Tons)
- Epoxy- Market Size & Forecast 2019-2030F (Thousand Tons)
- Acrylic- Market Size & Forecast 2019-2030F (Thousand Tons)
- Others- Market Size & Forecast 2019-2030F (Thousand Tons)
By End-Users
- OEMs- Market Size & Forecast 2019-2030F (Thousand Tons)
- Refinish- Market Size & Forecast 2019-2030F (Thousand Tons)
By Application
- Plastic-Parts
- Metal-Parts
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Key Factor Driver Automotive Coatings Industry Growth by 2030
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.
Who are the Key Players Operating in the Automotive Coatings Industry?
The top companies of the Automotive Coatings market ruling the industry are:
- 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.
- Jotun A/S
- Bayer AG
- Arkema SA
- Beckers Industrial Coatings Ltd.
- Cabot Corporation
- Berger Paints India Ltd.
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FAQs (Frequently Ask Questions)
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