February 2019: Adroit Market Research launched a study on, “Global Automotive Coatings Market Size 2017 by Product (E-coat, Basecoat, Primer, and Clearcoat), by Application (Metal and Plastic), by Technology (Waterborne, UV-Cured, Solventborne, and Powder Coating), by End-use (Light Vehicle OEM, Commercial OEM, and Automotive Refinish), by Region and Forecasts from 2018 to 2025”. The study covers the global automotive coatings market size for a period between 2015 and 2025. The global automotive coatings market report also includes qualitative insights of the market movement. The global automotive coatings market share for different segments including product, technology, application, and end-user has been covered in the study. The automotive coatings market trends 2018 for different regions and countries.
The global automotive coatings market size is estimated to be worth USD 31.79 billion by 2025 driven by the rising sales of automobiles coupled with growing advancements in automotive coatings across the globe. The global automotive sector has been growing due to the large scale urbanization resulting out of the rising standard of living of the consumers. This has been a major contributing factor for the global automotive coatings market development.
Automotive coatings help in enhancing the durability of automobiles and protect them from hazardous elements. The cost of specialized automotive coatings over the conventional coatings or paints may be considered high but the advantages are innumerable. The global automotive coatings market share is expected to be dominated by the basecoat segment to reach a share of 38.1% in terms of volume by 2025. The demand for basecoats is expected to increase as they provide additional benefits such as desired color and exterior aesthetics to automobiles. Furthermore, the escalating demand for environment-friendly implementation is also expected to drive the global automotive coating market share.
Geographically, Asia Pacific was leading the global automotive coatings market on account of increasing vehicle manufacturing in the rapidly emerging economies. Fast-paced growth of GDP and the highly aspirational consumers in this region have been the two main growth drivers for the booming automobile market. For instance, in China, an emerging middle class is expected to drive the steady growth of the Chinese auto market, with the markets for replacement of vehicles and new purchases growing rapidly. The Asia Pacific is expected to account for 58.8% of the global automotive coatings market revenue share by 2025.
In February 2018, BASF’s coating division launched its new product lines in Europe for its Glasurit and R-M refinish paint brands, which render automotive refinishing more sustainable. These products were the first refinish products to be manufactured in accordance with the certified biomass balance approach which contributes towards reducing CO2 emissions.
BASF, Axalta, AkzoNobel, Valspar, Nippon, and Sherwin-Williams are some of the major players in the global automotive coatings market. The major players in the market have implemented the strategy of introducing eco-friendly coatings which render the coating process more effective. Such strategic additions are expected to propel the market growth during the forecast period.
Key segments of the global automotive coatings market
Product Overview, 2015-2025 (Kilo Tons) (USD Million)
Technology Overview, 2015-2025 (Kilo Tons) (USD Million)
- Powder Coating
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
End-use Overview, 2015-2025 (Kilo Tons) (USD Million)
- Light Vehicle OEM
- Commercial OEM
- Automotive Refinish
Regional Overview, 2015-2025(Kilo Tons) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of MEA