Automotive Paints Market valued was US$ 7.71 Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during the forecast period of 2019 to 2026.
Automotive paints market
The driving factor for the automotive paints market is the increase in vehicle production and its use in dual purpose of decoration as well as protection. Increasing population, infrastructure demand, rise in income, various features and consumer preferences are the key factors to growth in the automotive paint market. High cost in development is restraining the market growth at the global level.
Based on the vehicle type, the automotive paints market is segmented into Light commercial vehicles, Heavy commercial vehicles and Passenger cars. Passenger cars segment is expected to grow at the largest CAGR of XX% during the forecast period due to rise in mid-size vehicle production and its variance option in paint on vehicle will be the factor for growth.
Based on the technology, the automotive paints market is segmented into Powder coatings, Water borne coatings and Solvent borne coatings. Powder coatings segment is projected to expand at the CAGR of XX% over the upcoming period owing to growing technological advancements, increasing demand from applications and supporting environmental regulations will be the growing factor for automotive paints market.
Region-wise, the market in Asia Pacific is expected to expand at a high CAGR of XX% during the forecast period. The market growth in the region can be attributed to the increased vehicle production, high demand for passenger cars and luxury vehicles and growing public awareness towards eco-friendly paints. Also, the production expansions made by automobile paint manufacturer to meet the rising consumer demand globally, increasing use of advanced technology, and improve the quality measures are likely to boost the automotive paints market in the region.
Automotive paints market share is consolidated, as the key multinational players occupy the major industry share. Akzo Nobel NV, Axalta Coating Systems Ltd., BASF SE, Clariant AG, DuPont Coatings & Color Technologies Group, Deft Inc, Kansai Paint Co Ltd, Nippon Paint Holdings Co Ltd, The Sherwin Williams Company, PPG, AkzoNobel, Sherwin Williams, Valspar, Solvay, DOW Chemical, 3M, KCC and The Valspar Corporation with brand portfolio expansion, mergers, collaborations and acquisitions are the key strategies adopted by the top players. For instance, in 2018, PPG to acquire architectural paint and coatings wholesaler ProCoatings.
The objective of the report is to present a comprehensive analysis of Global Automotive paints Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Automotive paints Market dynamics, structure by analyzing the market segments and project the Global Automotive paints Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Automotive paints Market make the report investor’s guide.
Scope of the Automotive Paints Market
Automotive Paints Market, By Vehicle Type
• Light commercial vehicles
• Heavy commercial vehicles
• Passenger cars
Automotive Paints Market, By Coat Type
• Base coat
• Clear coat
• Primer coat
• Electro coat
Automotive Paints Market, By Texture Type
• Metallic texture
• Solid texture
Automotive Paints Market, By Technology
• Powder coatings
• Waterborne coatings
• Solvent borne coatings
Automotive Paints Market,By Geography
• North America
• Middle East & Africa
• Latin America
Key Players in the Automotive Paints Market:
• Akzo Nobel NV
• Axalta Coating Systems Ltd.
• BASF SE
• Clariant AG
• DuPont Coatings & Color Technologies Group
• Deft Inc
• Kansai Paint Co Ltd
• Nippon Paint Holdings Co Ltd
• The Sherwin Williams Company
• Sherwin Williams
• DOW Chemical
• The Valspar Corporation
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