PUBLISHER: Allied Market Research | PRODUCT CODE: 1192977
PUBLISHER: Allied Market Research | PRODUCT CODE: 1192977
Automotive paints are majorly used on the surface of automobiles to protect them from environment damages. They consist of three important layers, primer, base coat, and clear coat. Primer is used to get the surface ready for painting as it helps the surface of paints from sticking to the vehicle. Base coat can be defined as the actual-colored paint of the vehicle, which is applied on the top of the primer layer. In addition, it does not contain any hardener or strengthener, and is a raw paint applied on the primer. Furthermore, on the top base coat, a layer of clear coat is applied to protect the base coat impart a glossy finish.
With rise in demand for vehicle ownerships, there has been increase in passenger car demand. Furthermore, manufacturers have widened their product offerings covering broad array of vehicle segment such as hatchback, sedan, crossover, and SUVs, which boosts the growth of the segment. In addition, rise in need for passenger cars is anticipated to boost demand for vehicle aesthetics, which propels demand for automotive paints.
In addition, high sales of electric passenger vehicle sales are expected to support the automotive paint market. Availability of many color shades, various texture designs, and others. For instance, according to the international energy agency (IEA) report, in 2020, Electric car sales reached a record 3 million, up by 40% from 2019. This strong growth was a stark contrast with general car market sluggishness globally, with overall car sales down 16% due to the COVID-19 crisis. After a decade of rapid growth, there are now over 10 million electric cars on the road, representing ~1% of the global car stock. High sales of electric and ICE passenger vehicles are expected to propel demand for automotive paints during the forecast period.
For the purpose of analysis, the global automotive paints market is segmented on the basis of coating, texture type, technology, vehicle type and sales channel. By coating, the market is segmented as primer, base coat, clear coat, electrocoat. On the basis of texture type, the market is studied across solid, metallic, pearlescent and others. On the basis on technology, the market is classified as waterborne coatings, solvent borne coatings and powder coatings. On the basis of vehicle type, the market is segmented as passenger cars, light commercial vehicles, and heavy commercial vehicle. On the basis of sales channel, the market is segmented as OEM and aftermarket.
Some major companies profiled in the report include BASF SE, PPG Industries Akzo Nobel N.V., Axalta Coatings Systems LLC, The Sherwin Williams Company, Kansai Paints Co. Ltd., Nippon Paints Holdings Co. Ltd., DuPont de Nemours Inc. Clariant AG and Solvay S.A.
Key Benefits For Stakeholders
By Vehicle Type
By Technology
By Coating
By Texture Type
By Sales Channel
By Region