Automotive Paints & Coatings Market Share is Projected to Reach $ 26.8 Bn by 2027

Precedence Research recently published a report on “Automotive Paints & Coatings Market Size, Share and Growth Analysis By Vehicle (Passenger Cars, Heavy Commercial Vehicles, and Light Commercial Vehicles), By Coating Type (Basecoat, Primer, Electrocoat, and Clearcoat), By Technology (Solvent borne, Waterborne, UV Curved, and Powder), By Texture (Metallic, Solid, and Matte), By Distribution Channel (Aftermarket and OEM), By Raw Material (Epoxy, Acrylic, Polyurethane, and Other Resins) – Global Industry Analysis, Trends, Regional Outlook and Forecasts 2020 -2027”. Amid the COVID-19 crisis, the global automotive paints & coatings market value is projected to reach US$ 26.8 billion by 2027, rising at a CAGR of 8.2% from 2020 to 2027.

Automotive paints & coatings are the automotive surface protection solutions. They are applied on the vehicle surface with the assistance of a spray gun. The automotive paints consist of polyurethane-based enamel that protects the automobile surface from environment such as rusting and other damages, thereby enhancing the aesthetics of the vehicle.

Growth Factors

Stringent regulations for harmful emission and growing environmental concerns for paints & coatings manufacturing process predicted to enhance the demand for eco-friendly paints in the market. Furthermore, increasing requirement for maintenance, repair, and restoration of vehicles expected to augment the market growth for automotive paints & coating in the coming years. Increasing vehicle age is the main cause behind its significant repair & maintenance. As per U.S. Bureau of Labor Statistics, around 50% of vehicles are aged between 11-20 years and an average US$ 400 is spent yearly on car repair. This is anticipated to flourish the paints & coating market prominently in the years to come.

However, advancements in the automotive industry have reduced the number of accidents significantly that hinders the refinish market for automotive paints & coatings. Besides this, recent advancements in the paint & coating products for automotive sector have provided highly durable surface finish that exceeds the customer expectation along with it also complies with the environmental regulations. Thus development in the paint chemistry and spraying methods have improved the uniformity in paint layer and paint transfer efficiency, thereby reducing the wastage. The aforementioned factors anticipated to flourish the market growth during the forecast period.

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Regional Snapshots

Europe projects magnificent growth for paints & coatings for the automotive industry owing large automobile production capacity of the region. According to European Automobile Manufacturers Association, 19.2 Mn that accounts to 20% of the total global motor vehicles production were recorded in European Union in the year 2018. Out of the stats presented, 16.5 Mn were passenger vehicles and rests were commercial vehicles. Furthermore, increasing number merger & acquisition in the region expected to showcase significant growth potential in the coming years.

On the contrary, Asia Pacific held substantial revenue share in the global automotive paints & coatings market in 2019. This is mainly attributed to the increased vehicle affordability and rising per capita income in the region. In addition, the region offers large consumer base for the vehicle sale that attracts potential automobile manufacturers to establish their production plant in the region. For instance, Honda Motor Co. Ltd. announced its plan in 2014 to expand its car production in Asia Pacific. The company aimed to sell 1.3 Mn units in China by 2015 and 1.2 Mn in the rest of Asia Pacific by 2016.

Report Highlights

• Europe is one of the major markets for automotive paints & coatings with prominent revenue share in 2019. The growth of the region is mainly due to presence of large number of automotive manufacturers in the region.
• Asia Pacific is expected to show considerable growth during the forecast period owing to rising vehicle affordability among the public. In addition, several players plan to expand their production base in the Asian countries as it has large consumer base.
• By raw material, polyurethane-based coatings led the market with substantial revenue share owing to rising refinishing services market. Rising number of fatalities and accidents on-road increases the refinish service market for paints & coatings. However, epoxy resins expected to offer magnificent growth over the coming years due to improved wear resistance capability and excellent adhesion with metals.
• Rising vehicle sales and increased consumer spending on aesthetics and comfort have bolstered the OEM market. Nonetheless, rising number of accidents and shifting trend towards customized and cost-effective auto parts projected to trigger the aftermarket distribution channel in the coming years.

Key Players & Strategies

The global automotive paints & coatings market seeks high competition due to presence of large number of players in the market. The market for automotive paints & coatings is a niche market with lucrative growth opportunities in the near future. Significant involvement of players in product development is the key factor contributing to the market growth. In May 2020, Clariant AG launched solutions that accelerate the industrial coatings requirement for North America with improved sustainability and performance.

Some of the key players of the market are Akzo Nobel NV, Axalta Coating Systems, BASF SE, Cabot Corp, Clariant AG, Covestro, Donglai Coating Technology, dupont, Eastman, Kansai Paint Co. Ltd, KCC Corporation, Nippon Paint Holdings Co. Ltd, PPG Industries, Inc., The Valspar Corporation., and wanda refinish among others.

Market Segmentation

By Vehicle Type

• Passenger Cars
• Heavy Commercial Vehicles
• Light Commercial Vehicles

By Coating Type

• Basecoat
• Primer
• Electrocoat
• Clearcoat

By Technology Type

• Solvent borne
• Waterborne
• UV Curved
• Powder

By Texture

• Metallic
• Solid
• Matte

By Distribution Channel

• Aftermarket
• OEM

By Raw Material

• Epoxy
• Acrylic
• Polyurethane
• Other Resins

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Takeaways

• Comprehensive analysis of the automotive paints & coatings market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
• Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global automotive paints & coatings market
• Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
• Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
• Comprehensive list of key potential clients across major end-use industries in different geographies
• Thorough import-export analysis  across the globe
• Regional level production output to comprehend the demand-supply scenario
• Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Automotive Paints & Coatings Market, By Vehicle Type

7.1. Automotive Paints & Coatings Market, by Vehicle Type, 2020-2027
7.1.1. Passenger Cars
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Heavy Commercial Vehicles
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Light Commercial Vehicles
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Automotive Paints & Coatings Market, By Coating Type

8.1. Automotive Paints & Coatings Market, by Coating Type, 2020-2027
8.1.1. Basecoat
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Primer
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Electrocoat
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Clearcoat
8.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Automotive Paints & Coatings Market, By Technology Type

9.1. Automotive Paints & Coatings Market, by Technology Type, 2020-2027
9.1.1. Solvent borne
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Waterborne
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. UV Curved
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Powder
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Automotive Paints & Coatings Market, By Texture Type

10.1. Automotive Paints & Coatings Market, by Texture Type, 2020-2027
10.1.1. Metallic
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Solid
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Matte
10.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 11. Global Automotive Paints & Coatings Market, By Distribution Channel

11.1. Automotive Paints & Coatings Market, by Distribution Channel, 2020-2027
11.1.1. Aftermarket
11.1.1.1. Market Revenue and Forecast (2016-2027)
11.1.2. OEM
11.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 12. Global Automotive Paints & Coatings Market, By Raw Material

12.1. Automotive Paints & Coatings Market, by Coating Type, 2020-2027
12.1.1. Epoxy
12.1.1.1. Market Revenue and Forecast (2016-2027)
12.1.2. Acrylic
12.1.2.1. Market Revenue and Forecast (2016-2027)
12.1.3. Polyurethane
12.1.3.1. Market Revenue and Forecast (2016-2027)
12.1.4. Other Resins
12.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 13. Global Automotive Paints & Coatings Market, Regional Estimates and Trend Forecast

13.1. North America
13.1.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.1.2. Market Revenue and Forecast, by Coating (2016-2027)
13.1.3. Market Revenue and Forecast, by Technology (2016-2027)
13.1.4. Market Revenue and Forecast, by Texture (2016-2027)
13.1.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.1.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.1.7. U.S.
13.1.7.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.1.7.2. Market Revenue and Forecast, by Coating (2016-2027)
13.1.7.3. Market Revenue and Forecast, by Technology (2016-2027)
13.1.7.4. Market Revenue and Forecast, by Texture (2016-2027)
13.1.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.1.8.1. Market Revenue and Forecast, by Raw Material (2016-2027)
13.1.9. Rest of North America
13.1.9.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.1.9.2. Market Revenue and Forecast, by Coating (2016-2027)
13.1.9.3. Market Revenue and Forecast, by Technology (2016-2027)
13.1.9.4. Market Revenue and Forecast, by Texture (2016-2027)
13.1.10. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.1.11. Market Revenue and Forecast, by Raw Material (2016-2027)
13.1.11.1.
13.2. Europe
13.2.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.2.2. Market Revenue and Forecast, by Coating (2016-2027)
13.2.3. Market Revenue and Forecast, by Technology (2016-2027)
13.2.4. Market Revenue and Forecast, by Texture (2016-2027)
13.2.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.2.7.
13.2.8. UK
13.2.8.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.2.8.2. Market Revenue and Forecast, by Coating (2016-2027)
13.2.8.3. Market Revenue and Forecast, by Technology (2016-2027)
13.2.9. Market Revenue and Forecast, by Texture (2016-2027)
13.2.10. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.10.1. Market Revenue and Forecast, by Raw Material (2016-2027)
13.2.11. Germany
13.2.11.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.2.11.2. Market Revenue and Forecast, by Coating (2016-2027)
13.2.11.3. Market Revenue and Forecast, by Technology (2016-2027)
13.2.12. Market Revenue and Forecast, by Texture (2016-2027)
13.2.13. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.14. Market Revenue and Forecast, by Raw Material (2016-2027)
13.2.14.1.
13.2.15. France
13.2.15.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.2.15.2. Market Revenue and Forecast, by Coating (2016-2027)
13.2.15.3. Market Revenue and Forecast, by Technology (2016-2027)
13.2.15.4. Market Revenue and Forecast, by Texture (2016-2027)
13.2.16. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.16.1. Market Revenue and Forecast, by Raw Material (2016-2027)
13.2.17. Rest of Europe
13.2.17.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.2.17.2. Market Revenue and Forecast, by Coating (2016-2027)
13.2.17.3. Market Revenue and Forecast, by Technology (2016-2027)
13.2.17.4. Market Revenue and Forecast, by Texture (2016-2027)
13.2.18. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.2.18.1. Market Revenue and Forecast, by Raw Material (2016-2027)
13.3. APAC
13.3.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.3.2. Market Revenue and Forecast, by Coating (2016-2027)
13.3.3. Market Revenue and Forecast, by Technology (2016-2027)
13.3.4. Market Revenue and Forecast, by Texture (2016-2027)
13.3.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.3.7. India
13.3.7.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.3.7.2. Market Revenue and Forecast, by Coating (2016-2027)
13.3.7.3. Market Revenue and Forecast, by Technology (2016-2027)
13.3.7.4. Market Revenue and Forecast, by Texture (2016-2027)
13.3.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.9. Market Revenue and Forecast, by Raw Material (2016-2027)
13.3.10. China
13.3.10.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.3.10.2. Market Revenue and Forecast, by Coating (2016-2027)
13.3.10.3. Market Revenue and Forecast, by Technology (2016-2027)
13.3.10.4. Market Revenue and Forecast, by Texture (2016-2027)
13.3.11. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.11.1. Market Revenue and Forecast, by Raw Material (2016-2027)
13.3.12. Japan
13.3.12.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.3.12.2. Market Revenue and Forecast, by Coating (2016-2027)
13.3.12.3. Market Revenue and Forecast, by Technology (2016-2027)
13.3.12.4. Market Revenue and Forecast, by Texture (2016-2027)
13.3.12.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.12.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.3.13. Rest of APAC
13.3.13.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.3.13.2. Market Revenue and Forecast, by Coating (2016-2027)
13.3.13.3. Market Revenue and Forecast, by Technology (2016-2027)
13.3.13.4. Market Revenue and Forecast, by Texture (2016-2027)
13.3.13.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.3.13.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.4. MEA
13.4.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.4.2. Market Revenue and Forecast, by Coating (2016-2027)
13.4.3. Market Revenue and Forecast, by Technology (2016-2027)
13.4.4. Market Revenue and Forecast, by Texture (2016-2027)
13.4.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.4.7. GCC
13.4.7.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.4.7.2. Market Revenue and Forecast, by Coating (2016-2027)
13.4.7.3. Market Revenue and Forecast, by Technology (2016-2027)
13.4.7.4. Market Revenue and Forecast, by Texture (2016-2027)
13.4.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.9. Market Revenue and Forecast, by Raw Material (2016-2027)
13.4.10. North Africa
13.4.10.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.4.10.2. Market Revenue and Forecast, by Coating (2016-2027)
13.4.10.3. Market Revenue and Forecast, by Technology (2016-2027)
13.4.10.4. Market Revenue and Forecast, by Texture (2016-2027)
13.4.11. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.12. Market Revenue and Forecast, by Raw Material (2016-2027)
13.4.13. South Africa
13.4.13.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.4.13.2. Market Revenue and Forecast, by Coating (2016-2027)
13.4.13.3. Market Revenue and Forecast, by Technology (2016-2027)
13.4.13.4. Market Revenue and Forecast, by Texture (2016-2027)
13.4.13.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.13.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.4.14. Rest of MEA
13.4.14.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.4.14.2. Market Revenue and Forecast, by Coating (2016-2027)
13.4.14.3. Market Revenue and Forecast, by Technology (2016-2027)
13.4.14.4. Market Revenue and Forecast, by Texture (2016-2027)
13.4.14.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.4.14.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.5. Latin America
13.5.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.5.2. Market Revenue and Forecast, by Coating (2016-2027)
13.5.3. Market Revenue and Forecast, by Technology (2016-2027)
13.5.4. Market Revenue and Forecast, by Texture (2016-2027)
13.5.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.5.6. Market Revenue and Forecast, by Raw Material (2016-2027)
13.5.7. Brazil
13.5.7.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.5.7.2. Market Revenue and Forecast, by Coating (2016-2027)
13.5.7.3. Market Revenue and Forecast, by Technology (2016-2027)
13.5.7.4. Market Revenue and Forecast, by Texture (2016-2027)
13.5.8. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.5.8.1. Market Revenue and Forecast, by Raw Material (2016-2027)
13.5.9. Rest of LATAM
13.5.9.1. Market Revenue and Forecast, by Vehicle (2016-2027)
13.5.9.2. Market Revenue and Forecast, by Coating (2016-2027)
13.5.9.3. Market Revenue and Forecast, by Technology (2016-2027)
13.5.9.4. Market Revenue and Forecast, by Texture (2016-2027)
13.5.9.5. Market Revenue and Forecast, by Distribution Channel (2016-2027)
13.5.9.6. Market Revenue and Forecast, by Raw Material (2016-2027)

Chapter 14. Company Profiles

14.1. Akzo Nobel NV
14.1.1. Company Overview
14.1.2. Product Offerings
14.1.3. Financial Performance
14.1.4. Recent Initiatives
14.2. Axalta Coating Systems
14.2.1. Company Overview
14.2.2. Product Offerings
14.2.3. Financial Performance
14.2.4. Recent Initiatives
14.3. BASF SE
14.3.1. Company Overview
14.3.2. Product Offerings
14.3.3. Financial Performance
14.3.4. Recent Initiatives
14.4. Cabot Corp
14.4.1. Company Overview
14.4.2. Product Offerings
14.4.3. Financial Performance
14.4.4. Recent Initiatives
14.5. Clariant AG
14.5.1. Company Overview
14.5.2. Product Offerings
14.5.3. Financial Performance
14.5.4. Recent Initiatives
14.6. Covestro
14.6.1. Company Overview
14.6.2. Product Offerings
14.6.3. Financial Performance
14.6.4. Recent Initiatives
14.7. Donglai Coating Technology
14.7.1. Company Overview
14.7.2. Product Offerings
14.7.3. Financial Performance
14.7.4. Recent Initiatives
14.8. Dupont
14.8.1. Company Overview
14.8.2. Product Offerings
14.8.3. Financial Performance
14.8.4. Recent Initiatives
14.9. Eastman.
14.9.1. Company Overview
14.9.2. Product Offerings
14.9.3. Financial Performance
14.9.4. Recent Initiatives
14.10. Kansai Paint Co. Ltd
14.10.1. Company Overview
14.10.2. Product Offerings
14.10.3. Financial Performance
14.10.4. Recent Initiatives
14.11. KCC Corporation
14.11.1. Company Overview
14.11.2. Product Offerings
14.11.3. Financial Performance
14.11.4. Recent Initiatives
14.12. Nippon Paint Holdings Co. Ltd
14.12.1. Company Overview
14.12.2. Product Offerings
14.12.3. Financial Performance
14.12.4. Recent Initiatives
14.13. PPG Industries, Inc.
14.13.1. Company Overview
14.13.2. Product Offerings
14.13.3. Financial Performance
14.13.4. Recent Initiatives
14.14. The Valspar Corporation.
14.14.1. Company Overview
14.14.2. Product Offerings
14.14.3. Financial Performance
14.14.4. Recent Initiatives
14.15. Wanda Refinish
14.15.1. Company Overview
14.15.2. Product Offerings
14.15.3. Financial Performance
14.15.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions

Chapter 16. Appendix

16.1. About Us
16.2. Glossary of Terms

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