Global Market Study on Automotive Paint: Development of Non-toxic Paints & Coatings Aiding Market Progress


Automotive Paint  Market
  • Report code : PMRREP2840 |
  • Industry : Automotive |
  • Published On : Aug-2020 |
  • Pages : 300 Pages |
  • Format : Automotive Paint  Market Automotive Paint  Market Automotive Paint  Market Automotive Paint  Market

The global automotive paint market size is projected to witness an above-average growth over the next couple of years. Demand for automotive paints is growing due to constant improvements in their properties and functionalities. Today, automotive paints are not only used for the beautification of the vehicles but also to enhance surface durability. Automotive paints increase the endurance of metal and aluminium parts of a vehicle, enabling them to withstand extreme environmental conditions such as heat, acid, UV radiation, and dust particles. Moreover, automakers are channelizing efforts to improve overall car coat and painting techniques. Several layers of paint and coating are applied on modern vehicles, which can reach thickness of nearly 100 µm (0.1mm). In order to ensure proper application of automotive paint, most manufacturers follow a highly systematic and precautious preparation procedure. Automotive paints usually comprise a combination of coating layers, which include primer paint, basecoat, and clearcoat.

Automotive Paint Market Trends

Surging Automotive Sector: Global sales of automotive paint are increasing owing to rising production of vehicles, coupled with robust growth of the automotive sector in countries such as Brazil, China, Mexico, India, and South Korea. In addition, growing trends of automotive restorations and refurbishing are likely to reflect favourably on the sales prospects of automotive paints in the aftermarket vertical. At the same time, rapid adoption of advanced powder coating and thermal spray technologies is likely to boost the growth of the global automotive paint market.

Reduction of Emission-producing Products: Companies that manufacture automotive paints are focusing on the development of products that are eco-friendly. This is primarily due to increasing concerns over emission of toxic gasses in the environment. The automotive sector is under pressure to reduce the effects of their products that contribute to environmental degradation. Moreover, government organisations and environmental bodies are encouraging the utilization of technologies that help in lowering emission levels. Hence, companies are shifting towards painting and coating products that are non-toxic.

Regional Outlook of Automotive Paint Market

In terms of revenue, North America is expected to hold the top spot as far as global automotive paint market share is concerned. Existence of a massive automotive sector is substantiating the growth of the automotive paint market in North America. During the forecast period of 2020 to 2030, the region’s market is projected to exhibit an impressive growth as compared to other regions.

COVID-19 Impact on Automotive Paint Market

The COVID-19 pandemic has led to almost all countries, economies, and industries going into declining growth. Lockdowns, travel and trade restrictions and regulations, suspension of manufacturing activities due to labor shortage, and reduced demand across sectors are being witnessed throughout the world. With the COVID-19 crisis putting the brakes on regular economic activities, sales of new vehicles have plunged across the globe, thereby badly impacting the automotive paint market too. As lockdowns and restrictions ease with the containment of the virus, and manufacturing picks pace, the automotive paint market will go back to its original growth trajectory.

Analysts’ Viewpoint

A detailed view of the global automotive paint market has led our analysts to conclude that, the market is projected to expand at a steady CAGR of around 5% over the forecast period of 2020 to 2030. North America will play a leading part in this growth, with metallic finish paint witnessing high demand from end users. Players in the automotive paint market can also look to solvent-borne paint bases for increased returns and profits.

Automotive Paint Market - Scope of the Report

Persistence Market Research (PMR) recently published a report on the global automotive paint market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the automotive paint market structure. This market research report presents exclusive facts and figures about how the automotive paint market will grow over the forecast period of 2020 to 2030.

Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the automotive paint market over the forecast period.

The study is relevant for stakeholders in the automotive paint market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the automotive paint market can leverage the information and statistics presented in PMR’s research report.

The report includes facts and figures related to the macro- as well as macro-economic factors that are impacting the growth of the automotive paint market. The study also offers actionable insights based on the future trends in the automotive paint market. Furthermore, regional players and new entrants in the automotive paint market can also use the information presented in this report to make business decisions and gain momentum in the market.

Key Segments of Automotive Paint Market

PMR’s study on the automotive paint market is divided into five significant segments – coating, finish, vehicle, paint base, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.

Coating

Finish

Vehicle

Paint Base

Region

  • Electrocoat
  • Primer
  • Basecoat
  • Clearcoat
  • Metallic
  • Solid
  • Pearlescent
  • Others
  • Compact Passenger Cars
  • Mid-sized Passenger Cars
  • Premium Passenger Cars
  • Luxury Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Solvent-borne
  • Water-borne
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific 
  • Middle East & Africa

Key Questions Answered in PMR’s Automotive Paint Market Report

  • Which region is anticipated to hold a prominent market share in the global automotive paint market over the forecast period?
  • What will be the key driving factors propelling the demand for automotive paint during the forecast period?
  • How will current trends impact the automotive paint market?
  • Who are the significant market participants in the automotive paint market?
  • What are the crucial strategies of prominent players in the automotive paint market to upscale their positions in this landscape?

Automotive Paint Market: Research Methodology

In PMR’s research report on the global automotive paint market, an exclusive research methodology is utilized to conduct comprehensive research on the development of the automotive paint market, and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure precision and reliability of the conclusions.

Secondary resources are referred to by analysts during the evaluation of the automotive paint market study, which comprise facts and figures from the World Bank, IMF, US Energy Information Administration, International Energy Agency, local & regional government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, engineering managers, and production managers, to provide insightful information about the global automotive paint market.

Comprehensive information acquired from primary and secondary resources is validated from companies operating in the automotive paint market, to make PMR’s projections on the growth prospects of the market more accurate and reliable.

Companies covered in Automotive Paint Market Report

  • Sherwin-Williams Company
  • Akzo Nobel N.V.
  • Valspar Corporation
  • BASF SE
  • PPG Industries
  • NIPPON PAINT
  • Kansai Paint Co., Ltd.
  • Axalta Coating Systems Ltd
  • DuPont Coatings & Color Technologies Group
  • Clariant AG
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