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Global Automotive Coatings Market Demand & Forecast Analysis, 2016-2032

Introduction to Automotive Coatings Market

Automotive Coatings plays an important role in the aesthetics of automotive vehicles. Automotive coatings market is evolving day by day. Many developments in terms of new products, finishes and technologies can be observed in the market. The new developments are shaping opportunities in the automotive industry.

Automotive Coating Market Segmentation

The  global Automotive Paints or coatings market is classified in foru main segments that are: Primer, Base Coat, E-Coat and Clear Coat. Primer is very important part in automotive coatings which provide protection against corrosion and forms a basis for the application of the Base Coat. Primer generally applied by E-coat technology and corrosion resistant coatings are being used in the process. Base coat is the crucial part of the automotive coatings which contains pigments and gives specific colour to the vehicle. Base coat is applied after the primer. The main attraction of the vehicle is its colour which is imparted by base coat. Clear coat is a transparent coat applied after base coat. It gives finish and glossy look to the surface.

Global Automotive Coating Market, by Coat Type, 2016-2032 (Kilo Tons)

Automotive Coating Market, by Coat Type
Source: Secondary & Primary Research and Prismane Consulting estimates

Automotive Coating Demand

Global Automotive Coatings market is witnessing a strong growth after recovery of global economy from Covid 19 pandemic. Global automotive coatings market was estimated to be more than 4,200 kilo tons in 2022. The automotive coatings market worldwide is projected to grow at more than 4% CAGR during the forecast period. Asia Pacific accounted for more than 50% of the global automotive coatings demand in 2022. High GDP growth along with increasing spending pawer is projected to drive automotive sale in the region. Expansions in the automotive industry in Asia Pacific is also bolstering the consumption of automotive coatings in the region.

Automotive Coating Demand by Region

China is the leading automotive coatings market in the Asia Pacific region, whereas India is expected to be the fastest growing automotive coatings market globally. North America is the second in terms of total demand for automotive coatings with its share of more than 23%. Europe (Western Europe and Central Eastern Europe) followed North America in terms of demand for automotive coatings with a third position in the global automotive coatings market, in 2022. Central & South America and Middle East & Africa accounted for a small portion of the global automotive coatings market in 2022. The automotive sector displays significant potential for growth, especially in emerging markets. The increasing demand for environmentally friendly products and alternative painting technologies is driven by the tightening regulations in various countries. There are abundant opportunities for business expansion arising from technological innovations, including CASE (Connected, Autonomous, Shared & Services, and Electric).

Global Automotive Coating Market, by Region- 2022 (Kilo Tons)

Automotive Coating Market, by Region- 2022 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting estimates

Automotive Coating Market Dynamics

Automotive coatings market growth is dependent on developments in the automotive market. New developments in Automotive sector including EV development and hybrid vehicles is driving the demand for automotive coatings globally. Rising environmental concerns are expected to push sustainable options in the automotive industry. This is projected to drive the demand for EVs and hybrid vehicles. Additionally, initiatives from governments in terms of subsidies and award for sustainable vehicles is boosting the consumption of automotives globally. The Boost in the EV sector will push the development of special coatings for EVs, which is expected to drive the automotive coatings market in coming years.

Stringent government norms regarding VOC content for automotive coatings is driving the development of new and advanced coating technologies such as water-based coatings, pawer coatings and other technologies. Rising demand for water-based technologies is expected to be an important driver for automotive coatings market. Painting or coating equipment also play a crucial role in the automotive coatings market growth. Advancements in robotic painting equipment is also supporting the automotive coatings market growth. Continuous efforts for development of cost-effective technologies are expected to drive the demand for automotive coatings during the forecast period.

Key Players in Automotive Coatings Market

Automotive coatings market is dominated by few major players including AkzoNobel, Axalta Coatings System LLC, Beckers Group, Hempel, Nippon Paint Holdings Co., Ltd, PPG Industries, Inc. and The Sherwin-Williams Company

Recent Development in the Automotive Coating Market

The recent market developments underscore a growing demand for automotive coatings. Important advancements includes:

Axalta's introduction of Next Generation Basecoat Technology for the Automotive Refinish Industry in Latin America

AkzoNobel's successful acquisition of the wheel liquid coatings business from LankwitzerLackfabrik GmbH, enhancing the company s performance coatings portfolio.

BASF India's Coatings division has expanded its Automotive Coatings Application Centre to enhance customer service capabilities. 

Additionally, 3M has introduced a Ceramic Coating for the Indian Automotive Aftermarket, while PPG has acquired Cetelon, an automotive coatings manufacturer. Axalta has also completed the waterborne expansion of its Jiading plant to meet the rising market demand for eco-responsible coatings.

Scope of Report 

The Automotive Coatings report describes the global Automotive Coatings market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Resin, Category, Coat and Application
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  Automotive Coatings Market data in terms of volume and value for each end-use 
   at regional and country level
•  Automotive Coatings Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Resins
          -  Coat Type
          -  Category
          -  Application
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2016 – 2021
          -  Base - 2022
          -  Forecast Period - 2023 – 2032
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance      
      • Automotive
         • Automotive Production, By Region / Country
         • Automotive Production, By OEM, By Type 
           • Sedan
           • SUV
           • Others
5.  Introduction to Automotive Coatings and Market Overview 
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
6.  Market Dynamics and Industry Trends 
      •  Market Dynamics and COVID-19 Impact
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
7.  Global Automotive Coatings Demand Analysis, By Coat Type, By Resin Type,  By Category, By Application (Volume, Value) (2016–2032) 
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016 – 2032)
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Automotive Coatings Market, By Resin
               -  Acrylic
               -  Epoxy
               -  Polyurethane
               -  Other Resins
      •  Global Automotive Coatings Market, By Category
               -  Solvent-based
               -  Water-borne Coatings
               -  Powder Coatings
      •  Global Automotive Coatings Market, By Coat Type
               -  Base Coat
               -  Clear Coat
               -  E-Coat
               -  Primer
      •  Global Automotive Coatings Market, By Category
               -  Passenger Cars
               -  Commercial Vehicles
8.  Demand Analysis and Market Review, By Region, By Country (Volume, Value), (2016– 2032)
      •  Strategic Issues and COVID-19 Impact
      •  Demand Analysis and Forecast (2016-2032)
      •  Demand Growth Rate (%)
      •  Automotive Coatings Market, By Resin
      •  Automotive Coatings Market, By Category
      •  Automotive Coatings Market, By Coat Type
      •  Automotive Coatings Market, By Application
Note: Demand Analysis has been provided for all major Regions / Countries as mentioned below. The demand(consumption) split by Coat Type, Resin Type, Category and Application has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  ASEAN
         -  Rest of Asia-Pacific
      •  Central & South America
      •  Middle East & Africa
Note: CAGR will be calculated for all the segments, technology and end-use industries to arrive at the regional/global demand growth for the forecast period (2023 – 2032)
9.  Pricing Analysis
10.  Key Strategic Issues and Business Opportunity Assessment 
      •  Market Attractiveness Assessment
      •  Prospective & Target Market Study
11.  Strategic Recommendation & Suggestions
12.  Company Analysis and Market Share Analysis
      • Automotive Coatings Manufacturers Profiles/ Company Analysis
         -  Basic Details
         -  Headquarter, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Recent Developments
         -  Companies Covered
             - AkzoNobel
             - Axalta Coatings System LLC
             - Beckers Group
             - Hempel
             - Nippon Paint Holdings Co., Ltd
             - PPG Industries, Inc.
             - The Sherwin-Williams Company
             - Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
13.  Appendices
      •  Demand- Regions
      •  Demand– Countries

Scope of Report 

The Automotive Coatings report describes the global Automotive Coatings market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Analysis
•  Demand Composition, by Resin, Category, Coat and Application
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Demand Balance 
•  Automotive Coatings Market data in terms of volume and value for each end-use 
   at regional and country level
•  Automotive Coatings Market analysis for demand, at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Latest Trends and market developments
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment


Frequently Asked Questions

How big is Automotive Coatings Market?
Global automotive coatings market was estimated to be more than 4,200 kilo tons in 2022. The automotive coatings market worldwide is projected to grow at more than 4% CAGR during the forecast period.
Who are the key manufacturers in the global Automotive Coatings market?
Automotive coatings market is dominated by few major players including AkzoNobel, Axalta Coatings System LLC, Beckers Group, Hempel, Nippon Paint Holdings Co., Ltd, PPG Industries, Inc. and The Sherwin-Williams Company
Which country dominates the global Automotive Coatings market?
China is the leading automotive coatings market in the Asia Pacific region, whereas India is expected to be the fastest growing automotive coatings market globally. North America is the second in terms of total demand for automotive coatings with its share of more than 23%.