Automotive Coatings Market 2021 Report delivers in-depth data on industry trends are given intimately, which makes it possible to outline the market landscape and probable future issues. The report performs a systematic analysis of the global Single-Use Bioreactors market and various related factors that range from market drivers, market restraints, market segmentation, opportunities, challenges, and market revenues to competitive analysis.
The report looks over the market with reference to general market conditions, market improvement, market scenarios, development, cost, and profit of the required market regions, position, and comparative pricing between major players.
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Automotive Coatings Market Size
The Global Automotive Coatings Market is estimated to grow from USD 17.82 Billion in 2019 to reach USD 27.64 Billion by 2027, at a CAGR of 5.7% during the forecast period from 2020-2027.
A thorough analysis on market effect factors, market risks, technological progress, consumer buying behaviour is covered along with value chain analysis, upstream and downstream market development trends and price and cost trends for product and raw materials.
Covid-19 Impact Analysis
Covid-19 impact analysis focuses on analysing pre- and post-pandemic growth trends, short term and long-term industry dynamics across major regions. Covid-19 recovery path analysis gives insights on the major strategies implemented by industries to respond and recover from the economic crisis due to Covid-19 pandemic. Also, SWOT analysis, PESTEL analysis and Porter's Five forces analysis is clear understanding of market growth influencing factors.
The report offers critical market information crucial for business decisions and strategy implementation based on current market trends and scope. The report also adds strategic inputs gained from key opinion leaders and business decision makers in the related industry.
North America accounted for the largest share of more than 45% in 2019
At regional level, market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America was the dominant regional market in 2019 with revenue share of about 46.8% in 2019, whereas the Asia Pacific market is expected to grow at the fastest pace oh CAGR 6.4% during the forecast period.
The emerging countries like Thailand, Indonesia, India, South Korea & China are experiencing a gradual rise in the use of automotive coating across its end user industry. China, due to the rising purchasing power, high economic growth rate, is expected to remain as the largest market in the Asia Pacific region during the forecast period. Also, the global production capacity shift from the developed regions to the developing countries is expected to enhance the further growth.
Automotive coating solutions also help in improved protection from the environmental aggressors like moisture, snow, water and rust. Various customers are continuously for the use of these products as even after the rough use, these help in proper maintenance of the vehicles. Various industry players are continuously investing in introducing different high-performance and economical solutions in order to remain ahead in the competition.
Based on Technology
Waterborne technology to show lucrative growth during the forecast period of 2020 to 2027
Based on Technology, the market is segmented into Waterborne, Solvent borne and UV - Cured technologies. Waterborne technology is expected to grow with the fastest CAGR of 6.8% during the forecast period of 2020 to 2027.
Waterborne coatings possess very low residual toxicity as well do not contain any volatile compounds. Also, the gradual shift to the non-toxic solutions coupled with the rising adoption of various sustainable products in the paint shops is expected to boost the market for Waterborne technology segment.
Based on Resin
Polyurethane Resin segment dominated the global automotive coating market in 2019
Based on Resin, the market is segmented into Polyurethane, Acrylic, Epoxy and Others. Wherein, the Polyurethane segment dominated the market by about 36.12% in 2019. The high share of this segment is due to the rising use of polyurethane in the topcoat. Greater flexibility along with high impact, corrosion and heat resistance makes this resin the most suitable for its use in the basecoat as well as in the clearcoat, thus making this segment the most dominant in the market.
Based on the Product
Clearcoat segment by product acquired the maximum share of global automotive coating market in 2019
Based on the Product, the market is segmented into Primer, Basecoat, Electrocoat and Clearcoat. Clearcoat segment acquired the maximum share of about 34.8% in 2019, whereas the Basecoat segment is estimated to grow at the fastest CAGR of 6.5% during the forecast period. Various key players are into innovating new technologies which are used in the automotive coating industry.
The latest technologies omit the initial primer layer and instead replace it with two layers of the basecoat. Our of the two layers, one layer is the advanced basecoat and the other one absorbs UV. These new technologies are thus driving the overall growth of the basecoat market segment.
By End Use
Light vehicle OEM end user dominated global automotive coating market by more than 40% in 2019
By End Use, the market is segmented into Commercial OEM, Light vehicle OEM and Automotive Refinish. Light vehicle OEM dominated the market in 2019, by acquiring about 42.9% of the global market and is likely to keep dominating the market with the in the upcoming years.
Rising demand for the passenger cars in the developing countries like Thailand, Singapore, China, India, Brazil and similar is expected boost the growth of this segment. Coupled with this, increasing per capita income, rapid urbanization and the population growth are adding to the market growth. Automotive Refinish segment is expected to grow with the fastest CAGR of 6.8% during the forecast years of 2020 to 2027.
Key Market Players:
- BASF SE
- Axalta Coating Systems
- PPG Industries, Inc.
- Kansai Paint Co., Ltd
- Nippon Paint Holdings Co., Ltd.
- The Valspar Corporation
- KCC Corporation
- Jotun A/S
- Bayer AG, KCC Corporation
- Arkema SA
- Becker Industrial Coatings Ltd.
- Berger Paints India Limited
- Cabot Corporation
- Eastman Chemical Company
- Solvay S.A.
The report is prepared by thorough primary and secondary research. Secondary data sources include company websites, magazines, press releases, SEC filings, various paid databases and others. Primary research involves interviews with key industry experts, KOLs, major vendors from both supply and demand side.
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Key Highlights of Automotive Coatings Market Report:
- Granular analysis of market size estimates in terms of value (revenue), volume and growth rate at country and region level for each segment and sub-segment
- Current industry trends and developments shaping the market
- Competitive market share analysis for major market players, pricing and cost analysis along with product benchmarking
- Qualitative analysis of growth driving factors, opportunities, restraints, market challenges and risks or threats
- Market attractiveness analysis for each major segment
- To analyse the revenue pockets in the market for stakeholders or major vendors by categorizing the specific high growth segments
Global Automotive Coatings market report is segmented as:
- Solvent borne
- UV - Cured
By End Use
- Commercial OEM
- Light vehicle OEM
- Automotive Refinish
The regional scope covers value (revenue) and volume data for below mentioned countries and regions:
- North America (U.S., Canada, Rest of North America)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia Pacific (China, Japan, India, Southeast Asia, Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East and Africa)
Key Advantages to purchase Automotive Coatings Market Report:
- To gain complete analysis on market potential, growth and trends data
- To analyse current competitive trends in the market and strategies used by key players to strengthen their businesses & leading market position
- Evaluate major market challenges and risks and implement solutions or strategies to mitigate the market risks
- To gain clear understanding of global market scope, potential, growth influencing drivers, restraints and opportunities
- To perceive future market outlook and growth prospects for strategic business decisions like geographic or product portfolio expansion
- Besides syndicate reports, we also offer customized research solutions and consulting services for specific business needs
Years considered in the report are:
- Historic Years: 2016-2019
- Base Year: 2019
- Estimated Year: 2020
- Forecast Year 2020 to 2027
Table of Content
- Research Methodology
2.1. Research Methodology
2.3. Research limitations
- Executive Summary
- Post COVID-19 Industry Dynamics
- COVID-19 Impact Analysis on Industry
5.1. Restrictions due to COVID-19
5.2. Demand-side Constraints
5.3. Supply-side Constraints
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