Automotive Paints Market Size, Share, Growth Report 2030

Automotive Paints Market

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

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

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.

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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:

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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  

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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.

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The global Automotive Paints Market is segmented as follows:   

By Vehicle Type

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

Methodology

Free Analysis

FrequentlyAsked 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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