Automotive Paints And Coatings Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 - 2025

Report Code: CMR 13358 Report Format: PDF + Excel (Delivery in 48 Hrs)
Overview

Automotive Paints and Coatings Market size is forecast to reach $26.8 billion by 2025, after growing at a CAGR of 3.5% during 2020-2025. Rising vehicle production coupled with rising consumer preference towards dual color alternatives are driving the market share. Industry players are investing in technologies and finishes to give customers alternatives for customizing their vehicles. Additionally, scratch resistance along with improved gloss finishing and corrosion resistance are gaining significant traction in the market.
 
Key Takeaways
  • Shifting consumer preference for buying pre-owned and refurbished vehicles is showcasing strong growth prospects for automotive paints and coatings market size.
  • Increasing consumer inclination towards customization, repair, and maintenance of refurbished vehicles will significantly augment the utilization of automotive paints & coatings over the study timeframe.
  • The COVID-19 outbreak has exposed several challenges for the automotive sector. Governments globally are preparing for a broader spread of the virus. Consequently, 80 percent of automotive and related companies report that Coronavirus will have a direct impact on their 2020 revenues. 78 percent of companies do not have enough staff to run a full production line.
  • COVID-19 have become the biggest impact for automotive crisis globally, and thus restraining the market growth. And it is also been expected that the outbreak of COVID-19 will be seen in whole year of 2020, and few months in 2021.
By Paint Type - Segment Analysis

The market is segmented into paint type which includes electrocoat, primer, basecoat, and clearcoat. Owning to its superior corrosion and scratch protection, primer coating is accounted with most significant share in automotive paints and coatings market. Additionally, these coatings also offer significant ultraviolet (UV) ray protection along with enhanced protection against stone chipping. Also, the development of advanced primers with the capability of applying in stainless steel, cold rolled steel, aluminum, and fiber glass further accelerates the segment share over the projected timeframe.

By Technology Type - Segment Analysis

The growth in the waterborne automotive paints & coatings market share can be credited to the stringent rules and regulations pertaining to the reduction of VOCs in automotive paints and coatings. Additionally, the presence of minimum toxic materials along with lower flammability compared to solvent based paints further expands the segment size. Additionally, higher gloss polish along with durable finishing over long period further expands the segment growth from 2022 to 2025.

By Resin Type - Segment Analysis

Polyurethanes accounted for considerable share in the automotive paints and coatings market. Polyurethanes materials are widely used in paints owing the benefits offered including higher resistance to solvents along with superior mechanical and weathering damage resistance. Industry players are focusing on introducing environmentally friendly polyurethane coatings for improving their market share.

By Texture Type - Segment Analysis

Matte paint texture consists the highest share in texture type segment of automotive paints & coatings market, this is due its non-reflective appearance, rough and sandy texture. The characteristics of textures including prevention from discoloration and oxidation, makes them suitable for wider applications. The matte texture is widely used in high end automotive. The paint offers improved protection form finger prints and offers premium color finish compared to its counterparts. However, easier visibility of scratches or dents may limit its usage over the study timeframe.

By Vehicle Type - Segment Analysis

Passenger cars will grow considerably in the automotive paints & coatings market over the study timeframe. The growth can be attributed to the availability of a wide vehicle model range across diversified price range. The availability of easier vehicle financing alternatives along with discounts offered by vehicle manufacturers in festive seasons to increase their sales are further supporting the market demand.

Geography - Segment Analysis

APAC, due to its huge vehicle production and improving economy, leads the market share in 2019 and is expected to continue its dominance during the forecast period. The automotive paints industry has evolved along with the automotive industry. Both industries are continuously progressing to provide advanced technologies and eco-friendly products to their customers. Passenger cars hold the largest share of total vehicle production globally and also in APAC. Passenger cars are expected to be the largest market for automotive paints. APAC is estimated to be the largest market for electric and hybrid vehicles also. The hybrid vehicle is estimated to be the largest market for automotive paints due to the rapid acceptance of hybrid vehicle across the world.

Drivers – Automotive Paints and Coatings Market
  • The growing environmental concerns and stringent emission regulations for paints and coatings manufacturing process is enhancing the market growth of new innovative eco-friendly paints.
The demand for automotive paints is driven by the increasing demand for vehicles, whereas technologies and R&D investments are influenced by government regulations. Likewise, the future growth and advancements in the automotive paints market will be driven by stringent emission regulations and norms regarding paint products, manufacturing processes, and the industry’s CO2 footprint. Conventionally, chromate and phosphate conversion coatings (CC) were preferred for these pre-treatment activities. These types of coatings emit high VOC emission. However, owing to new non-VOC regulations, these coating chemicals are getting replaced with low- or non-VOC surface pre-treatments. In U.S, the federal rules governing the use of VOCs fall under the umbrella of the Environmental Protection Agency’s National Emission Standards for Hazardous Air Pollutants (NESHAP) guidelines. Due to such regulations, automotive paint technologies are changing to waterborne and powder coating technologies due to their low VOC emission as compared to solvent-borne technology.

Challenges – Automotive Paints and Coatings Market
  • The growing technological advancements in automotive safety aspects to reduce accidents is somehow restrain the market growth.
The increase in the number of road accidents is one of the major concerns for automobile manufacturers and governments. As per the National Highway Traffic Safety Administration (NHTSA), total fatalities due to road accidents in the US only was 37,461 in 2016, which grew by 5.6% from 2015. However, the automotive industry is witnessing a rapid evolution of safety features. The demand for safety features is expected to increase exponentially in the coming years. Due to increasing concerns of vehicle and passenger safety, vehicles are now equipped with advanced and smart features. The growing technological advancements in order to reduce accidents have constrained the growth of the market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Automotive Paints and Coatings market. In 2019, the market of Automotive Paints and Coatings has been consolidated by the top five players accounting for xx% of the share. Automotive Paints and Coatings Market top 10 companies are Nippon Paint Holdings Co. Ltd, Covestro, Cabot Corp, Eastman, PPG industries Inc, Dupont, and BASF SE. Other notable players include Wanda Refinish, Axaltra Coating Systems, Donglai Coating Technology, KCC Corporation, Akzo Nobel NV, Clariant AG, and Valspar., among others.

Acquisitions/Technology Launches:
  • The automotive industry is going to witness high competition owing to the adoption of new strategies including long term contracts, partnerships, and new product developments to gain high visibility in the market. In February 2018, BASF launched the Glasurit and R-M refinish paint brand in European market. The paints are certified according to biomass balance approach to reduce the CO2 emission.
1. Automotive Paints And Coatings Market - Overview
        1.1 Definitions and Scope
2. Automotive Paints And Coatings Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Automotive Paints And Coatings Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Automotive Paints And Coatings Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Automotive Paints And Coatings Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Automotive Paints And Coatings Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Automotive Paints And Coatings Market - Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Automotive Paints And Coatings Market - By Type of Resin (Market Size -$Million / $Billion)
8.1 Polyurethane
8.2 Epoxy
8.3 Acrylic
9. Automotive Paints And Coatings Market - By Technology (Market Size -$Million / $Billion)
9.1 Solvent-Borne
9.2 Water-Borne
9.3 Powder
10. Automotive Paints And Coatings - By Layer (Market Size -$Million / $Billion)
10.1 E-Coat
10.2 Primer
10.3 Base Coat
10.4 Clear Coat
11. Automotive Paints And Coatings - By Coating Type (Market Size -$Million / $Billion)
11.1 Automotive OEM
11.2 Automotive Refinish
12. Automotive Paints And Coatings - By Geography (Market Size -$Million / $Billion)
        12.1 Automotive Paints And Coatings Market - North America Segment Research
        12.2 North America Market Research (Million / $Billion)
            12.2.1 Segment type Size and Market Size Analysis
            12.2.2 Revenue and Trends
            12.2.3 Application Revenue and Trends by type of Application
            12.2.4 Company Revenue and Product Analysis
            12.2.5 North America Product type and Application Market Size
                  12.2.5.1 U.S
                  12.2.5.2 Canada
                  12.2.5.3 Mexico
                  12.2.5.4 Rest of North America
        12.3 Automotive Paints And Coatings- South America Segment Research
        12.4 South America Market Research (Market Size -$Million / $Billion)
            12.4.1 Segment type Size and Market Size Analysis
            12.4.2 Revenue and Trends
            12.4.3 Application Revenue and Trends by type of Application
            12.4.4 Company Revenue and Product Analysis
            12.4.5 South America Product type and Application Market Size
                  12.4.5.1 Brazil
                  12.4.5.2 Venezuela
                  12.4.5.3 Argentina
                  12.4.5.4 Ecuador
                  12.4.5.5 Peru
                  12.4.5.6 Colombia
                  12.4.5.7 Costa Rica
                  12.4.5.8 Rest of South America
        12.5 Automotive Paints And Coatings- Europe Segment Research
        12.6 Europe Market Research (Market Size -$Million / $Billion)
            12.6.1 Segment type Size and Market Size Analysis
            12.6.2 Revenue and Trends
            12.6.3 Application Revenue and Trends by type of Application
            12.6.4 Company Revenue and Product Analysis
            12.6.5 Europe Segment Product type and Application Market Size
                  12.6.5.1 U.K
                  12.6.5.2 Germany
                  12.6.5.3 Italy
                  12.6.5.4 France
                  12.6.5.5 Netherlands
                  12.6.5.6 Belgium
                  12.6.5.7 Denmark
                  12.6.5.8 Spain
                  12.6.5.9 Rest of Europe
        12.7 Automotive Paints And Coatings - APAC Segment Research
        12.8 APAC Market Research (Market Size -$Million / $Billion)
            12.8.1 Segment type Size and Market Size Analysis
            12.8.2 Revenue and Trends
            12.8.3 Application Revenue and Trends by type of Application
            12.8.4 Company Revenue and Product Analysis
            12.8.5 APAC Segment - Product type and Application Market Size
                  12.8.5.1 China
                  12.8.5.2 Australia
                  12.8.5.3 Japan
                  12.8.5.4 South Korea
                  12.8.5.5 India
                  12.8.5.6 Taiwan
                  12.8.5.7 Malaysia
                  12.8.5.8 Hong kong
                  12.8.5.9 Rest of APAC
        12.9 Automotive Paints And Coatings - Middle East Segment and Africa Segment Research
        12.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            12.10.1 Segment type Size and Market Size Analysis
            12.10.2 Revenue and Trend Analysis
            12.10.3 Application Revenue and Trends by type of Application
            12.10.4 Company Revenue and Product Analysis
            12.10.5 Middle East Segment Product type and Application Market Size
                  12.10.5.1 Israel
                  12.10.5.2 Saudi Arabia
                  12.10.5.3 UAE
            12.10.6 Africa Segment Analysis
                  12.10.6.1 South Africa
                  12.10.6.2 Rest of Middle East & Africa
13. Automotive Paints And Coatings Market - Entropy
        13.1 New product launches
        13.2 M&A s, collaborations, JVs and partnerships
14. Automotive Paints And Coatings Market - Industry / Segment Competition landscape Premium
        14.1 Market Share Analysis
            14.1.1 Market Share by Country- Top companies
            14.1.2 Market Share by Region- Top 10 companies
            14.1.3 Market Share by type of Application - Top 10 companies
            14.1.4 Market Share by type of Product / Product category- Top 10 companies
            14.1.5 Market Share at global level - Top 10 companies
            14.1.6 Best Practises for companies
15. Automotive Paints And Coatings Market - Key Company List by Country Premium
16. Automotive Paints And Coatings Market Company Analysis
        16.1 Market Share, Company Revenue, Products, M&A, Developments
        16.2 Akzonobel N V
        16.3 Ashland Incorporated
        16.4 Axalta Coating System
        16.5 Bayer
        16.6 Bollig Kemper
        16.7 Cabot Corp
        16.8 Donglai Coating Technology Co ,Ltd
        16.9 Dow Corning
        16.10 Eastman
        16.11 Feidal Coating
        16.12 Kansai Paint Co , Ltd
        16.13 Kao Corporation
        16.14 Kcc Corp
        16.15 Lord Corp
        16.16 N Coating Corp
        16.17 Nafine Chemical Industry Group Co., Ltd
        16.18 Nippon Paint Holding Co , Ltd
        16.19 Ppg Industries, Inc
        16.20 Shanghai Coating Co Ltd
        16.21 Shanghai Kinlita
        16.22 The Sherwin-Williams Co
        16.23 Company 22
        16.24 Company 23 & More
*Financials would be provided on a best efforts basis for private companies
17. Automotive Paints And Coatings Market - Appendix
        17.1 Abbreviations
        17.2 Sources
18. Automotive Paints And Coatings Market - Methodology
        18.1 Research Methodology
            18.1.1 Company Expert Interviews
            18.1.2 Industry Databases
            18.1.3 Associations
            18.1.4 Company News
            18.1.5 Company Annual Reports
            18.1.6 Application Trends
            18.1.7 New Products and Product database
            18.1.8 Company Transcripts
            18.1.9 R&D Trends
            18.1.10 Key Opinion Leaders Interviews
            18.1.11 Supply and Demand Trends

List of Tables

1 US Automotive Paints And Coatings Market Size 2018
2 Canada Automotive Paints And Coatings Market Share 2018
3 Brazil Automotive Paints And Coatings Market Outlook 2019 - 2023
4 Mexico Automotive Paints And Coatings Market Research 2018
5 Germany Automotive Paints And Coatings Market Trends 2019 - 2023 
6 France Automotive Paints And Coatings Market Growth 2019 - 2023 
7 UK Automotive Paints And Coatings Market Demand 2019 - 2023 
8 Italy Automotive Paints And Coatings Market Segmentation 2018
9 Russia Automotive Paints And Coatings Market Analysis 2019 - 2023
10 China Automotive Paints And Coatings Market Revenue 2019 - 2023
11 Japan Automotive Paints And Coatings Market Volume 2019 - 2023
12 South Korea Automotive Paints And Coatings Market Potential 2019 - 2023
13 India Automotive Paints And Coatings Market Leaders 2018
14 Saudi Arabia Automotive Paints And Coatings Market Forecast 2019 - 2023 
15 Kuwait Automotive Paints And Coatings Market Value 2018

List of Figures

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