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Automotive Paints Market - Global Industry Analysis

Automotive Paints Market By Vehicle Type (Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Cars), Coat Type (Electro coat, Primer, and Basecoat), By Technology (Solvent, Waterborne, and Powder Coating), By Texture (Solid And Metallic): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 31-May-2021 Category: Chemical & Materials Report Format : PDF Pages: 140 Report Code: ZMR-1976 Status : Published

The global automotive paints market accounted for USD 19.5 Billion in 2020 and is expected to reach USD 29.5 Billion by 2028, growing at a CAGR of 5.2% from 2021 to 2028.

Description

Market Overview    

The global automotive paints market accounted for USD 19.5 Billion in 2020 and is expected to reach USD 29.5 Billion by 2028, growing at a CAGR of 5.2% from 2021 to 2028.  

Automotive paints are sprayed on automobiles surface with the assistance of a spray gun. This paints comprises additive pigments, color pigments, binder and thinner. These are responsible for imparting the necessary viscosity, levelling, appearance, and flexibility to the automotive paints. The paint is used in the temperature-controlled environment to quicken the drying process. The automotive paints increases the endurance of the parts of the vehicle, and enable them to withstand in the extreme temperature condition.

Increase in automobile and automotive sector production and rise in demand for eco-friendly paints are the major factors fuelling the growth of the market. On the contrary, fluctuation in raw material prices limit the growth of the market.

COVID-19 Impact Analysis:

The global automotive paints market has witnessed a decrease in the sales for vehicles due to the lockdown enforcement placed by various governments in order to contain COVID spreading. People had no option but to remain indoor, so the sales of vehicles had decrease drastically. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the world markets are slowly opening to their full potential and theirs a surge in demand of vehicles and accessories. The market would remain bullish in upcoming year.  

Growth Factors

Increase in vehicle production in countries including China, India, Japan, Indonesia, South Korea, U.S., and Germany along with the aging of vehicles is likely to upsurge the growth of the market. This trend is likely to remain dominant over the forecast period. Furthermore, demand for automotive paints is anticipated to grow on account of increasing demand for innovative and specialty products in the automobile sector. Moreover, rising demand for eco-friendly coatings such as powder coatings, UV-cured coatings, and waterborne coatings in emerging economies is anticipated to boost the market in coming years. However, key raw materials like titanium oxide, pigments, additives, and resins face supply imbalance and price variations, which may affect costing and result in the upswing of automotive paints market prices.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

Automotive paints market has been segmented on the basis of vehicle type, coat type, technology, texture, and region. On the basis of technology, segment market is classified into solvent, waterborne, and powder coating. In 2020, Solvent borne coatings dominated the market and accounting for around 44.5% of the total volume. Solvent borne technology is expected to sluggishly grow owing to stringent regulations on VOC emissions, particularly in the developed regions.

 On the basis of coat types, the market is further divided into base coat, clear coat, a primer coat and electro coat. Basecoat is likely to grow over the forecast period owing to the only paint type that consists colors. The coat has maximum contribution in terms of value, as it consists of actual visual properties of color and effects.

The texture type segment is classified into solid texture and metallic texture  

Key Market Players & Competitive Landscape

Some of key players in Automotive Paints Market are BASF SE, Akzonobel N.V., PPG Industries Inc., Kansai Paint Co., Ltd., Paint Holdings Co., Ltd, Nippon, Valspar Corporation, and Arkema SA among others.

The global Automotive Paints Market is segmented as follows:   

By Vehicle Type

  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Passenger Cars

By Coat Type

  • Electro coat
  • Primer
  • Basecoat
  • Clear coat

By Technology

  • Solvent
  • Waterborne
  • Powder Coating

By Texture

  • Solid
  • Metallic

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Vehicle Type
        • 2.1.1.2. Market Attractiveness Analysis, By Coat Type
        • 2.1.1.3. Market Attractiveness Analysis, By Technulogy
        • 2.1.1.4. Market Attractiveness Analysis, By Texture
        • 2.1.1.5. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Automotive Paints Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Automotive Paints Market – Vehicle Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Vehicle Type, 2020 & 2028
    • 4.2. Light Commercial Vehicles
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Heavy Commercial Vehicles
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Passenger Cars
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Automotive Paints Market – Coat Type Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Coat Type, 2020 & 2028
    • 5.2. Electro coat
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Primer
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Basecoat
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Clear coat
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Automotive Paints Market – Technulogy Segment Analysis
    • 6.1. Overview
      • 6.1.1. Market Revenue Share, By Technulogy, 2020 & 2028
    • 6.2. Sulvent
      • 6.2.1. Market Size and Forecast, By Region (USD Billion)
      • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.3. Waterborne
      • 6.3.1. Market Size and Forecast, By Region (USD Billion)
      • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.4. Powder Coating
      • 6.4.1. Market Size and Forecast, By Region (USD Billion)
      • 6.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 6.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 7 Automotive Paints Market – Texture Segment Analysis
    • 7.1. Overview
      • 7.1.1. Market Revenue Share, By Technulogy, 2020 & 2028
    • 7.2. Sulid
      • 7.2.1. Market Size and Forecast, By Region (USD Billion)
      • 7.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 7.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 7.3. Metallic
      • 7.3.1. Market Size and Forecast, By Region (USD Billion)
      • 7.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 7.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 8 Automotive Paints Market – Regional Analysis
    • 8.1. Overview
      • 8.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 8.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 8.2. North America
      • 8.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.2.2. North America Market Revenue, By Vehicle Type, 2016 – 2028
      • 8.2.3. North America Market Revenue, By Coat Type, 2016 – 2028
      • 8.2.4. North America Market Revenue, By Technulogy, 2016 – 2028
      • 8.2.5. North America Market Revenue, By Texture, 2016 – 2028
      • 8.2.6. U.S.
        • 8.2.6.1. U.S. Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.2.6.2. U.S. Market Revenue, By Coat Type, 2016 – 2028
        • 8.2.6.3. U.S. Market Revenue, By Technulogy, 2016 – 2028
        • 8.2.6.4. U.S. Market Revenue, By Texture, 2016 – 2028
      • 8.2.7. Canada
        • 8.2.7.1. Canada Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.2.7.2. Canada Market Revenue, By Coat Type, 2016 – 2028
        • 8.2.7.3. Canada Market Revenue, By Technulogy, 2016 – 2028
        • 8.2.7.4. Canada Market Revenue, By Texture, 2016 – 2028
      • 8.2.8. Mexico
        • 8.2.8.1. Mexico Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.2.8.2. Mexico Market Revenue, By Coat Type, 2016 – 2028
        • 8.2.8.3. Mexico Market Revenue, By Technulogy, 2016 – 2028
        • 8.2.8.4. Mexico Market Revenue, By Texture, 2016 – 2028
    • 8.3. Europe
      • 8.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.3.2. Europe Market Revenue, By Vehicle Type, 2016 – 2028
      • 8.3.3. Europe Market Revenue, By Coat Type, 2016 – 2028
      • 8.3.4. Europe Market Revenue, By Technulogy, 2016 – 2028
      • 8.3.5. Europe Market Revenue, By Texture, 2016 – 2028
      • 8.3.6. Germany
        • 8.3.6.1. Germany Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.3.6.2. Germany Market Revenue, By Coat Type, 2016 – 2028
        • 8.3.6.3. Germany Market Revenue, By Technulogy, 2016 – 2028
        • 8.3.6.4. Germany Market Revenue, By Texture, 2016 – 2028
      • 8.3.7. France
        • 8.3.7.1. France Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.3.7.2. France Market Revenue, By Coat Type, 2016 – 2028
        • 8.3.7.3. France Market Revenue, By Technulogy, 2016 – 2028
        • 8.3.7.4. France Market Revenue, By Texture, 2016 – 2028
      • 8.3.8. U.K.
        • 8.3.8.1. U.K. Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.3.8.2. U.K. Market Revenue, By Coat Type, 2016 – 2028
        • 8.3.8.3. U.K. Market Revenue, By Technulogy, 2016 – 2028
        • 8.3.8.4. U.K. Market Revenue, By Texture, 2016 – 2028
      • 8.3.9. Italy
        • 8.3.9.1. Italy Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.3.9.2. Italy Market Revenue, By Coat Type, 2016 – 2028
        • 8.3.9.3. Italy Market Revenue, By Technulogy, 2016 – 2028
        • 8.3.9.4. Italy Market Revenue, By Texture, 2016 – 2028
      • 8.3.10. Spain
        • 8.3.10.1. Spain Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.3.10.2. Spain Market Revenue, By Coat Type, 2016 – 2028
        • 8.3.10.3. Spain Market Revenue, By Technulogy, 2016 – 2028
        • 8.3.10.4. Spain Market Revenue, By Texture, 2016 – 2028
      • 8.3.11. Rest of Europe
        • 8.3.11.1. Rest of Europe Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.3.11.2. Rest of Europe Market Revenue, By Coat Type, 2016 – 2028
        • 8.3.11.3. Rest of Europe Market Revenue, By Technulogy, 2016 – 2028
        • 8.3.11.4. Rest of Europe Market Revenue, By Texture, 2016 – 2028
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.4.2. Asia Pacific Market Revenue, By Vehicle Type, 2016 – 2028
      • 8.4.3. Asia Pacific Market Revenue, By Coat Type, 2016 – 2028
      • 8.4.4. Asia Pacific Market Revenue, By Technulogy, 2016 – 2028
      • 8.4.5. Asia Pacific Market Revenue, By Texture, 2016 – 2028
      • 8.4.5. China
        • 8.4.5.1. China Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.4.5.2. China Market Revenue, By Coat Type, 2016 – 2028
        • 8.4.5.3. China Market Revenue, By Technulogy, 2016 – 2028
        • 8.4.5.4. China Market Revenue, By Texture, 2016 – 2028
      • 8.4.6. Japan
        • 8.4.6.1. Japan Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.4.6.2. Japan Market Revenue, By Coat Type, 2016 – 2028
        • 8.4.6.3. Japan Market Revenue, By Technulogy, 2016 – 2028
        • 8.4.6.4. Japan Market Revenue, By Texture, 2016 – 2028
      • 8.4.7. India
        • 8.4.7.1. India Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.4.7.2. India Market Revenue, By Coat Type, 2016 – 2028
        • 8.4.7.3. India Market Revenue, By Technulogy, 2016 – 2028
        • 8.4.7.4. India Market Revenue, By Texture, 2016 – 2028
      • 8.4.8. South Korea
        • 8.4.8.1. South Korea Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.4.8.2. South Korea Market Revenue, By Coat Type, 2016 – 2028
        • 8.4.8.3. South Korea Market Revenue, By Technulogy, 2016 – 2028
        • 8.4.8.4. South Korea Market Revenue, By Texture, 2016 – 2028
      • 8.4.9. South-East Asia
        • 8.4.9.1. South-East Asia Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.4.9.2. South-East Asia Market Revenue, By Coat Type, 2016 – 2028
        • 8.4.9.3. South-East Asia Market Revenue, By Technulogy, 2016 – 2028
        • 8.4.9.4. South-East Asia Market Revenue, By Texture, 2016 – 2028
      • 8.4.10. Rest of Asia Pacific
        • 8.4.10.1. Rest of Asia Pacific Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.4.10.2. Rest of Asia Pacific Market Revenue, By Coat Type, 2016 – 2028
        • 8.4.10.3. Rest of Asia Pacific Market Revenue, By Technulogy, 2016 – 2028
        • 8.4.10.4. Rest of Asia Pacific Market Revenue, By Texture, 2016 – 2028
    • 8.5. Latin America
      • 8.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.5.2. Latin America Market Revenue, By Vehicle Type, 2016 – 2028
      • 8.5.3. Latin America Market Revenue, By Coat Type, 2016 – 2028
      • 8.5.4. Latin America Market Revenue, By Technulogy, 2016 – 2028
      • 8.5.5. Latin America Market Revenue, By Texture, 2016 – 2028
      • 8.5.5. Brazil
        • 8.5.5.1. Brazil Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.5.5.2. Brazil Market Revenue, By Coat Type, 2016 – 2028
        • 8.5.5.3. Brazil Market Revenue, By Technulogy, 2016 – 2028
        • 8.5.5.4. Brazil Market Revenue, By Texture, 2016 – 2028
      • 8.5.6. Argentina
        • 8.5.6.1. Argentina Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.5.6.2. Argentina Market Revenue, By Coat Type, 2016 – 2028
        • 8.5.6.3. Argentina Market Revenue, By Technulogy, 2016 – 2028
        • 8.5.6.4. Argentina Market Revenue, By Texture, 2016 – 2028
      • 8.5.7. Rest of Latin America
        • 8.5.7.1. Rest of Latin America Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.5.7.2. Rest of Latin America Market Revenue, By Coat Type, 2016 – 2028
        • 8.5.7.3. Rest of Latin America Market Revenue, By Technulogy, 2016 – 2028
        • 8.5.7.4. Rest of Latin America Market Revenue, By Texture, 2016 – 2028
    • 8.6. The Middle-East and Africa
      • 8.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 8.6.2. The Middle-East and Africa Market Revenue, By Vehicle Type, 2016 – 2028
      • 8.6.3. The Middle-East and Africa Market Revenue, By Coat Type, 2016 – 2028
      • 8.6.4. The Middle-East and Africa Market Revenue, By Technulogy, 2016 – 2028
      • 8.6.5. The Middle-East and Africa Market Revenue, By Texture, 2016 – 2028
      • 8.6.5. GCC Countries
        • 8.6.5.1. GCC Countries Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.6.5.2. GCC Countries Market Revenue, By Coat Type, 2016 – 2028
        • 8.6.5.3. GCC Countries Market Revenue, By Technulogy, 2016 – 2028
        • 8.6.5.4. GCC Countries Market Revenue, By Texture, 2016 – 2028
      • 8.6.6. South Africa
        • 8.6.6.1. South Africa Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.6.6.2. South Africa Market Revenue, By Coat Type, 2016 – 2028
        • 8.6.6.3. South Africa Market Revenue, By Technulogy, 2016 – 2028
        • 8.6.6.4. South Africa Market Revenue, By Texture, 2016 – 2028
      • 8.6.7. Rest of Middle-East Africa
        • 8.6.7.1. Rest of Middle-East Africa Market Revenue, By Vehicle Type, 2016 – 2028
        • 8.6.7.2. Rest of Middle-East Africa Market Revenue, By Coat Type, 2016 – 2028
        • 8.6.7.3. Rest of Middle-East Africa Market Revenue, By Technulogy, 2016 – 2028
        • 8.6.7.4. Rest of Middle-East Africa Market Revenue, By Texture, 2016 – 2028
  • Chapter No. 8 Automotive Paints Market – Industry Analysis
    • 8.1. Introduction
    • 8.2. Market Drivers
      • 8.2.1. Driving Factor 1 Analysis
      • 8.2.2. Driving Factor 2 Analysis
    • 8.3. Market Restraints
      • 8.3.1. Restraining Factor Analysis
    • 8.4. Market Opportunities
      • 8.4.1. Market Opportunity Analysis
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Technulogy Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • Chapter No. 9 Competitive Landscape
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Automotive Paints Market: Company Market Share, 2019
      • 9.1.2. Global Automotive Paints Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 9.1.3. Global Automotive Paints Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Automotive Paints Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 10 Company Profiles
    • 10.1. BASF SE
      • 10.1.1. Company Overview
      • 10.1.2. Key Executives
      • 10.1.3. Product Portfulio
      • 10.1.4. Financial Overview
      • 10.1.5. Operating Business Segments
      • 10.1.6. Business Performance
      • 10.1.7. Recent Developments
    • 10.2. Akzonobel N.V
    • 10.3. PPG Industries Inc
    • 10.4. Kansai Paint Co., Ltd
    • 10.5. Paint Huldings Co., Ltd
    • 10.6. Nippon
    • 10.7. Valspar Corporation
    • 10.8. Company 8
    • 10.9. Company 9
  • Chapter No. 11 Marketing Strategy Analysis
    • 11.1. Marketing Channel
    • 11.2. Direct Marketing
    • 11.3. Indirect Marketing
    • 11.4. Marketing Channel Development Trends
    • 11.5. Economic/Pulitical Environmental Change
  • Chapter No. 12 Research Methodulogy
    • 12.1. Research Methodulogy
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Automotive Paints market. Zion Market Research has collected and analyzed key data belong to the global Automotive Paints market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Automotive Paints across the world has been calculated through primary and secondary research.

Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Automotive Paints industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Automotive Paints market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split into segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Automotive paint plays an essential role in the protection of automobile against corrosion, UV rays, oxidization, and acid rains. These paints have low volatile organic compounds (VOC) and high solid content. Automotive paints are easy to apply and are clean and wear resistance. Over the past few years, the automotive paint technology has established in terms of quality, the durability of products and color choices offered to the buyers.

Growing demand for vehicles worldwide has boosted the growth of the automotive paints market. End users prefer to buy vehicles; featuring durable automotive paint is expected to fuel the market growth in the forecast period. However, high prices of raw material may limit the market growth in near future. Nevertheless, altering government rules and regulations for growing environmental awareness would give many significant opportunities for the growth of the automotive paints market in coming years.

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Automotive paint market is segmented on the basis of vehicle type, coat type, texture type, technology and region. On the basis of vehicle type segment market is classified into light commercial vehicles, heavy commercial vehicles, and passenger cars. The coat type comprises of electro coat, base coat, primer coat, and clear coat. Clear coat was the major coat type segment of automotive paint market in 2016 followed by primer, electro coat, and basecoat. The texture type segment is categorized into solid texture and metallic texture. The metallic paints market is expected to grow at fast pace in the forecast period owing to growing demand for attractive glossy finish offered by these paints. In developed countries metallic paints are utilized extensively even for heavy commercial vehicles along with passenger cars and light commercial vehicles; whereas, in the developing countries, solid paints are preferred as heavy commercial paints. On the basis of technology the automotive paint market is segmented into solvent, waterborne, and powder coating.

In 2016, Asia Pacific was the largest market for automotive paint attributed to recent growth in automotive OEM market in developing countries in the region. Furthermore, favorable macro factors such as largest vehicle production, cheaper labor cost, and government support for manufacturing industry along with the big local market is expected to further boost the market growth in the forecast period. Europe was one of the leading markets for automotive paint in 2016 owing to the presence of leading vehicle producing countries in Europe. Europe was followed by North America, where the U.S. accounts for the largest market in 2016.

The automotive paints market is huge and tremendously fragmented. Key players profiled in the report include BASF SE, Akzonobel N.V., PPG Industries Inc., Kansai Paint Co., Ltd., Paint Holdings Co., Ltd, Nippon, Valspar Corporation, and Arkema SA among others. In 2016, PPG Industries Inc. was one of the market leaders and has a strong presence globally in the market. PPG’s strong research and development and product expansion maintain its position in the automotive paints market. PPG recently launched a new Ultrapax coating system, which is a packaged system of pretreatment products and powder coating to meet the stringent standards to protect metals.


Frequently Asked Questions

The global Automotive Paints Market was valued at USD 19.5 Billion in 2020.

The global Automotive Paints Market is expected to reach USD 29.5 Billion by 2028, growing at a CAGR of 5.2% between 2021 to 2028.

Some of the key factors driving the global Automotive Paints Market growth are increase in Automobile production and rsing demand innovative and eco-friendly automotive paints.

Asia Pacific region held a substantial share of the Automotive Paints Market in 2020. This is attributable to rising middle-class population, improve living standards, shifting consumers preferences, rising economy and growing demand for the luxurious vehicle.  

Some of the major companies operating in Automotive Paints Market are BASF SE, Akzonobel N.V., PPG Industries Inc., Kansai Paint Co., Ltd., Paint Holdings Co., Ltd, Nippon, Valspar Corporation, and Arkema SA among others.

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