Automotive paint is a water-based formula, which is applied on the surfaces of automobiles with the assistance of a spray gun. These paints consist of polyurethane-based enamel which helps to protect the surface of the automobile from environmental damage. In addition, the parts of the automobile are arranged in an assembly and then automotive paint is applied at a controlled environmental temperature. Moreover, the increase in automobile production and upsurge in the demand for eco-friendly automotive paints are the key factors driving the growth of the automotive paint market. For instance, in September 2021, Nippon Paint India, part of the NIPSEA Group, has launched a new international automotive refinish product system under the n-MAX brand.
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Based on coating, the market is segmented into utility electrocoat, primer, basecoat, clearcoat. The clearcoat category is to witness higher CAGR during the forecast period owing to get the glossy and clear appearance of the paint of the vehicle. Moreover, the clear coat is the topcoat of paint that is put on your car after the colored paint and primer. In addition, it is a clear, glossy coating designed to protect your paint from the elements while also enhancing the appearance of your paint. Hence, the factors driving the growth of the market.
Based on texture type, the market is categorized into solid, metallic, matte, pearlescent, and solar reflective. Among these, the pearlescent to hold a significant share in the market in 2020. The pearlescent texture is referred to as pearl or mica, which means the color appears different when seen from different angles. Moreover, It makes the car glow and looks more classy than the metallic paint.
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For a better understanding of the market adoption of the Automotive paints industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. APAC is anticipated to be the region with the highest market for automotive paints due to its high vehicle production and growing economies. The automotive paint industry has developed alongside the vehicle. Automotive sectors are working hard to provide their customers with products that are ecologically friendly and use cutting-edge technology. The bulk of vehicles manufactured globally, as well as in APAC, are passenger cars. Passenger automobiles are projected to represent the largest market for automotive paints. Additionally, Asia and Oceania are anticipated to be the biggest markets for electric and hybrid cars. The hybrid vehicle market is anticipated to be the largest for automotive paints since hybrid vehicles are becoming more and more popular throughout the world.
Some of the major players operating in the market include 3M Co, Akzo Nobel N.V., Axalta Coating Systems Ltd, BASF SE, Covestro AG, Kansai Paint Co Ltd., NIPSEA GROUP, Sherwin-Williams Company, Solvay S.A., and PPG Asian Paints Pvt Ltd.
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Global Automotive paints Market Segmentation
Market Insight, by Coating
- Electrocoat
- Primer
- Basecoat
- Clearcoat
Market Insight, by Texture Type
- Solid
- Metallic
- Matte
- Pearlescent
- Solar reflective
Market Insight, by Resin Type
- Polyurethane
- Epoxy
- Acrylic
- Other Resins
Market Insight, by Technology Type
- Solvent-borne
- Waterborne
- Powder Coating
Market Insight, by Technology Type
- Passenger Car
- Commercial Vehicle
Market Insight, by Region
- North America
- US
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- 3M Co
- Akzo Nobel N.V.
- Axalta Coating Systems Ltd
- BASF SE
- Covestro AG
- Kansai Paint Co Ltd.
- NIPSEA GROUP
- Sherwin-Williams Company
- Solvay S.A.
- PPG Asian Paints Pvt Ltd
Table Of Content-
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE AUTOMOTIVE PAINTS MARKET
6 AUTOMOTIVE PAINTS MARKET REVENUE, 2020-2028F
7 MARKET INSIGHTS BY COATING
8 MARKET INSIGHTS BY TEXTURE TYPE
9 MARKET INSIGHTS BY RESIN TYPE
10 MARKET INSIGHTS BY TECHNOLOGY TYPE
11 MARKET INSIGHTS BY VEHICLE TYPE
12 MARKET INSIGHTS BY REGION
13 AUTOMOTIVE PAINTS MARKET DYNAMICS
14 AUTOMOTIVE PAINTS MARKET OPPORTUNITIES
15 AUTOMOTIVE PAINTS MARKET TRENDS
16 DEMAND AND SUPPLY-SIDE ANALYSIS
17 VALUE CHAIN ANALYSIS
18 COMPETITIVE SCENARIO
19 COMPANY PROFILED
20 DISCLAIMER
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