Market research covered in this Automotive Coatings Market report helps the management of a firm in planning by providing accurate and up-to-date information about the consumer’s demands, their changing tastes, attitudes, preferences, buying intentions, etc. This research aids in correlative relationships between the product brand and consumers’ needs and preferences. Additionally, this report brings into light key market dynamics of the sector. The competitive landscape section of the report gives a clear insight into the market share analysis of key industry players.
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The company profiles of all the major market players and brands that are dominating the Automotive Coatings Market with moves like product launches, joint ventures, merges, and accusations which in turn are affecting the sales, import, export, revenue, and CAGR values have been cited in the report. The study consists of a market attractiveness analysis, wherein each segment is benchmarked based on its market size, growth rate, and general attractiveness.
The research further covers segments such as product type, market share, availability on-premises, and end-users type, and availability in geographical regions such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. The dedicated section on the opportunities and challenges ahead of Automotive Coatings Market participants is a valuable addition to this report. The section is capable of improving business knowledge about the latest innovations and needed improvisation to keep the market position intact with time in the forecast period 2023- 2032.
Competition Landscape
With an average revenue range of US$ 5 Billion-US$ 8 Billion, the top five firms in the automotive coatings industry will continue to command roughly two-fifths of the market. This also suggests a high level of consolidation in the automotive coatings industry at the apex, as opposed to a fragmented nature at the apex. Recent developments in the market are as follows:
In January 2022, Axalta Coating Systems introduced its new Global Automotive Color of the Year 2022 series of automotive coatings- specifically the Royal Magenta series. The new coatings shade is not only designed to enhance aesthetic appeal, but also provide more robust finish, protecting automotive bodies from abiotic conditions.
PPG Industries announced in April 2022 its decision to introduce the PPG ENVIROCRONTM P8 Series Anti-Graffiti Coating at the PaintExpo 2022.
The product is a hybrid powder coating that stands up to the harshest cleaners and chemicals and is designed to leave no trace of surface damage or graffiti residues. Since it is formulated without block agents, they contain no carcinogenic, mutagenic or toxic-to-reproduction (CMR) substances commonly found in other products.
In May 2022, automotive giant BMW announced a collaboration with BASF in order to incorporate its CathoGuard 800 ReSource e-coat at its plants in Leipzig, Germany, and Rosslyn, South Africa. Additionally, BMW also intends to leverage the company’s iGloss matt ReSource Clearcoat throughout Europe. These coatings are capable of reducing CO2 emissions in the plants by as much as 40% per coating layer, which is equivalent to more than 15,000 tons.
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Key Segments Covered in the Automotive Coatings Industry Report
By Resin Type :
Acrylics-based Automotive Coatings
Fluoropolymers-based Automotive Coatings
Urethanes-based Automotive Coatings
Epoxy-based Automotive Coatings
Poly Alkyds-based Automotive Coatings
Amines-based Automotive Coatings
By Vehicle Type :
Passenger Cars
Commercial Vehicles
By Technology :
Water Borne Automotive Coatings
Solvent Borne Automotive Coatings
UV Cure Automotive Coatings
By Coat Type :
Top Coat
Primer
Base Coat
Clear Coat
By Region :
North America
Latin America
Europe
Japan
APEJ
MEA
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Which type of resin is the most popular in the automotive coatings market?
Acrylics with a gleaming appearance will be a major growth driver in the coming years.
Acrylics are expected to account for approximately 55% of the market, according to Fact.MR
Acrylics are also expected to maintain their market dominance. Acrylics’ advantages, such as their glossy appearance and other advantages, are expected to be significant drivers of market demand.
The report clarifies several important questions about the Automotive Coatings Market:
1. Which regional market is expected to grow the most during the forecast period?
2. How has the rise in raw material prices caused by the COVID-19 pandemic affected the growth of the Automotive Coatings Market?
3. Why are market participants concentrating on R&D and innovation?
4. Are market participants increasing their global presence? If so, how so?
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