Market Research Report
Automotive Paints & Coatings Market Size By Vehicle, Texture, Distribution Channel, Raw Material, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020-2026
|Published by||Global Market Insights Inc.||Product code||979299|
|Published||Content info||550 Pages
Delivery time: 2-3 business days
|Automotive Paints & Coatings Market Size By Vehicle, Texture, Distribution Channel, Raw Material, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020-2026|
|Published: December 18, 2020||Content info: 550 Pages||
Automotive Paints & Coatings
Market Size By Vehicle (Light Commercial Vehicles, Heavy Commercial Vehicles, Passenger Cars), By Coating Type (Primer, Basecoat, Clearcoat, Electrocoat), By Technology (Waterborne, Solvent-borne, Powder, UV Curved), By Texture (Solid, Metallic, Matte), By Distribution Channel (OEM, Aftermarket), By Raw Material (Polyurethane, Epoxy, Acrylic, Other Resins) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026.
The automotive paints & coatings market is projected to expand exponentially over the coming years owing to rapid urbanization, rising income level, growing demand for acrylic raw materials, and high demand for primer to impart corrosion resistance to vehicle structure.
Innovative as well as more sustainable solutions help manufacturers of paints & coatings to advance their formulations. Automotive paints & coatings and the essential processes used to apply coat on automobile surfaces represent the avant-garde of technologies that can produce durable surfaces, exceeding the expectation of customers of maximizing efficiency, appearance, as well as meeting environmental guidelines.
At present, the automotive painting processes are much more uniform than they were in present mainly because of the numerous benefits of cathodic electrodeposition, one or more than one component solvent-borne clear coats, inorganic pretreatments, liquid base coats, and powder or liquid primer surfaces.
The automotive paints & coatings market is bifurcated into different segments in terms of vehicle, coating, technology, texture, distribution channel, raw material, and regional landscape.
Based on coating, the automotive paints & coatings market is categorized into electrocoat, clearcoat, basecoat, and primer. Among these, primer coating segment will witness around 4.5% CAGR through the forecast time period owing to its demand to impart corrosion resistance to vehicle structure.
The primer fills as well as smooths slight scratches and imperfections that might be created during previous coating steps. At present, primers must enhance the adhesion between the topcoat and the E-coat, providing protection from chipping, improving the appearance of paint and to be ecologically compatible with emission rules.
With respect to technology, the market is bifurcated into UV curved, powder, solvent borne, and waterborne. Solvent borne technology segment will capture over 40% share in the overall industry by the end of the analysis timeframe. This anticipated growth is accredited to superior durability. These types of paint technology generally produce a harder finish which is much more tolerant of harmful conditions mainly during the period of drying.
Based on texture, the automotive paints & coatings market is classified into matte, metallic, and solid. Among these, solid texture segment will witness around 4.5% CAGR over the forthcoming time period since these offers superior coverage.
In terms of raw material, the overall automotive paints & coatings market is segmented into acrylic, epoxy, polyurethane, and other resins. Among these, acrylic segment will witness steady growth as these are inexpensive and offer superior durability. These raw materials last longer in comparison to other raw materials and usually form a hard type shell when they dry out.
On the geographical front, the LATAM region will exhibit nearly 4.5% CAGR over the forecast time period. Rising income level along with rapid urbanization will drive the automotive industry thereby propelling the overall market share.