Global Automotive Paints & Coatings Market to cross $27.5 Mn by 2025

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Automotive Paints Coatings Market to exceed
27.5 Bn by 2025 Global Market Insights Inc.
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Industry Overview

• Automotive Paints Coatings Market to surpass
  USD 27.5 billion by 2025 Rising vehicle
  production coupled with rising consumer
  preference towards dual color alternatives are
  driving the automotive paints coatings 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
• Growing customer expectations primarily with
  respect to sustainability, durability and
  aesthetics of vehicles are enabling automobile
  OEMs to develop new color combinations and
  solutions. Paint manufacturers are collaborating
  with automobile OEMs to reduce toxic substances
  in paints. The development of water-borne
  products with reduced volatile organic compounds
  (VOC) emission eliminates the toxic gas emission
  during painting, thereby promoting worker safety.
  
• Industry participants are collaborating and
  continuously investing in RD for developing
  advanced paint technologies for increasing the
  market share. For instance, in 2018, BASF entered
  into a joint venture with Sirrus for developing
  high performance automotive coatings based on the
  methylene malonate technology. These coatings
  contribute significantly towards lowering
  emissions and offer smooth finish in vehicles.

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• Light commercial vehicle (LCV) automotive paints
  coatings market share will witness around 3
  CAGR owing to increasing sales of light
  commercial vehicles across the globe. For
  instance, according to the International
  Organization of Motor Vehicle Manufacturers
  (OICA) production of LCV in 2018 was 21,072,296
  units accounting for an increase of around 4.2
  as compared to 2017
• Primer coating will account for a significant
  share in the automotive paints coatings market.
  This can be attributed to the superior corrosion
  and scratch protection offered by primers.
  Additionally, these coatings also offer
  significant UV ray protection along with enhanced
  protection against stone chipping.
• 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
  2019 to 2025.

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U.S. Automotive Paints Coatings Market, By
Vehicle, 2018 2025, (USD Million)

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Industry Coverage

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• OEM is expected to hold dominance in automotive
  paints coatings market size over the study
  timeframe. The dominance can be attributed to
  rising vehicle demand across the globe. Industry
  participants are collaboratively working with
  automotive manufacturers to minimize energy
  consumption and CO2 emission from paint
  application activities.
• Asia Pacific automotive paints coatings market
  witness significant growth over the forecast
  timeframe. This can be attributed to the
  improving economic conditions, rising disposable
  income along with higher requirement for personal
  mobility solutions.
• Few of the industry participants in the
  automotive paints coatings market include
  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

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