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Pulished Date February, 2020
ID: 9739
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Automotive Paints Market Segmentation By Coating (Primer, Basecoat, Clearcoat, Electrocoat), By Texture Type (Solid, Metallic, Pearlescent, others), By Technology (Waterborne Coatings, Solvent–Borne Coatings, Powder Coatings), By Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle) - Industry Analysis, Size, Share, Growth, Trends and Forecast 2020-2025.

Pulished: February, 2020
ID: 9739
Pages: 175

Market Overview:

The global automotive paints market is projected to succeed in a valuation of US$ 11,966.1 Mn by 2022, registering a CAGR of 4.2% over the forecast period. The different products that fall into automotive paints are electro coats, powder coats, basecoat and clearcoat. Availability of varied choices of color is growing the automotive paints market. Automotive paint is formed from pigments, binders and thinners. These days, automotive paints are witnessing demand for technological advance paints rather than traditional colours. Furthermore, automotive paints manufacturers are more focusing towards minimum wastage spray technology, low volatile compound paints, which is foreseen to support the global automotive paints market.

The global automotive paints market is predicted to witness a surge in demand over the forecast period due to factors like strict government policies and the rising awareness towards the environment. The business is evolving in terms of various options, durability, and reliability. Automotive paints act as a protective coat and supply an ambient appearance, which is predicted to accelerate the market growth over the subsequent six years. Various regulations regarding non-VOC paints have triggered the automotive paints industry demand resulting in the introduction of waterborne coats, which are expected to dominate the solvent-borne coatings. Today, automotive colours are not only used for beautification of the vehicles but also to reinforce surface durability. At an equivalent time, rapid adoption of advanced powder coating and thermal spray technologies is probably going to spice up the expansion of the worldwide automotive paints market. 

Recent Developments:

· McLaren Racing's 2020 Formula 1 car raced into view today before the new season, with AkzoNobel again supplying hi-tech coatings technology for the fashionable MCL35. 

· Improve Lidar Detection with Near-Infrared Reflective Dark Automotive Paint Colors. BASF is leveraging Lidar-detectable coatings made with functional pigments and technologies to reduce NIR absorption and thereby better Lidar mapping performance.

· Clariant, a world leader in specialty chemicals, has let go the Automotive Edition of ColorForward® 2018. The third edition of the color/trend analysis tool designed by this company for automotive designers and marketers includes a replacement prototype format: carpet and textured plaques. 

Drivers and Restraints of Automotive Paints Market:

Drivers:

Factors like an increase in automobile production and upsurge in demand for eco-friendly automotive paints are the key factors driving the expansion of the global automotive paints market. On the contrary, increasingly focused on product cost-effective automotive paints is anticipated to supply remunerative growth opportunities for the player operating within the global automotive paints market. Hiking demand for automobiles and increasing disposable incomes are few of the main elements that are driving the worldwide automotive paint market.

Moreover, durable automotive paints are driving the automotive market as they're preferred by the user while purchasing a vehicle. Furthermore, the rising bourgeoisie population in developing countries and the favorable economic trend is anticipated to spice up the market. Also, the increasing adoption of improved new technologies is predicted to drive the market over the forecast period.

Restraints:

Rise in prices of raw materials to manufacture automotive paints hinders the expansion of the market. Moreover, variable staple prices and environmental regulations are expected to dampen the global automotive paints market. Environmental regulations in developed regions like North America and Europe discourage the assembly of high volatile compound paints, affecting the overall automotive paints market. Furthermore, moderate growth in machinery and appliances for automotive paints manufacturing is predicted to scale back the expansion of demand.

Market Segmentation:

By Coating:

  • Primer
  • Basecoat
  • Clearcoat
  • Electrocoat

By the coating type, the electrocoat segment is predicted to touch a valuation of US$ 3,865.2 Mn in 2022. This segment currently commands with the brink of 30% share of the worldwide automotive paints market and is foreseen to garner a robust CAGR during the outlook period.

By Texture Type

  • Solid
  • Metallic
  • Pearlescent
  • Others

Expanding demand for metallic paints is anticipated to surpass the solid texture paints demand due to the changing buyer preferences towards metallic colors and an increase in sales of premium passenger cars.

By Technology

  • Waterborne Coatings
  • Solvent-borne Coatings
  • Powder Coatings

In terms of technology, the waterborne automotive segment is predicted to steer throughout the foreseen period. The sector commands for over half of the total revenue share of the market and is probably going to succeed in valuation in more than US$ 5,800 Mn by 2022.

By Vehicle Type

  • Passenger Cars 
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle

Based on the vehicle type, the passenger cars segment is anticipated to surpass a valuation of US$ 2,600 Mn by 2017. Additionally, the sector is predicted to soar at a healthy rate during the predicted period. This is primarily due to increasing sales of passenger cars in countries like China and India.

Automotive Paints Market Region wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden

.

  1. Asia Pacific
    1. China
    2. India
    3. Japan
  2. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  3. Middle East and Africa

a. Middle East

b. Africa

In terms of revenue, the North America automotive paints market is predicted to carry the highest spot in the global business. Existence of a huge automotive sector is substantiating the expansion of the market in North America. During the forecast period the region’s market is projected to exhibit a powerful growth. Europe automotive paints market occupies the second place in terms of market share and is anticipated to foresee growth in future. In Europe, major market share of automotive paint is held by Germany. Furthermore, BENELUX is major growing marketplace for automotive paints thanks to the new automotive industrial establishments in these countries. The main driving factors accounting for the expansion of automotive paint market is increasing production of automobiles, burgeoning population and increasing income. The Asia-Pacific automotive paints market accounted for the best share in 2018 and is anticipated to grow rapidly throughout the forecast period. China, being the most important automobile manufacturer country, is predicted to witness robust growth in the local automotive paint market over the estimated period.

Key Players of Market:

Key market players operating in the global market are Akzo Nobel NV, Axalta Coating Systems Ltd., BASF SE, Clariant AG, DuPont Coatings & Color Technologies Group, Kansai Paint Co., Ltd, Nippon Paint Holdings Co Ltd, The Sherwin Williams Company, and The Valspar Corporation

1. Introduction                                

               1.1 Market Definition                    

               1.2 Scope of the report                

               1.3 Study Assumptions                  

               1.4 Base Currency, Base Year and Forecast Periods                         

2. Research Methodology                                          

               2.1 Analysis Design                        

               2.2 Research Phases                      

                              2.2.1 Secondary Research           

                              2.2.2 Primary Research 

                              2.2.3 Data Modelling      

                              2.2.4 Expert Validation  

               2.3 Study Timeline                         

3. Report Overview                                       

               3.1 Executive Summary                

               3.2 Key Inferencees                       

4. Market Dynamics                                     

               4.1 Impact Analysis                        

                              4.1.1 Drivers      

                              4.1.2 Restaints  

                              4.1.3 Opportunities         

               4.2 Regulatory Environment                      

               4.3 Technology Timeline & Recent Trends                           

5. Competitor Benchmarking Analysis                                   

               5.1 Key Player Benchmarking                     

                              5.1.1 Market share analysis        

                              5.1.2 Products/Service   

                              5.1.3 Regional Presence

               5.2 Mergers & Acquistion Landscape                     

               5.3 Joint Ventures & Collaborations                       

6. Market Segmentation                                            

               6.1 Automotive Paints Market, By Coating                          

                              6.1.1 Primer       

                              6.1.2 Basecoat  

                              6.1.3 Clearcoat 

                              6.1.4 Electrocoat            

                              6.1.5 Market Size Estimations & Forecasts (2019-2024)   

                              6.1.6 Y-o-Y Growth Rate Analysis              

                              6.1.7 Market Attractiveness Index           

               6.2 Automotive Paints Market, By Texture Type                

                              6.2.1 Solid          

                              6.2.2 Metallic    

                              6.2.3 Pearlescent            

                              6.2.4 Market Size Estimations & Forecasts (2019-2024)   

                              6.2.5 Y-o-Y Growth Rate Analysis              

                              6.2.6 Market Attractiveness Index           

               6.3 Automotive Paints Market, By Technology                   

                              6.3.1 Waterborne           

                              6.3.2 Solvent–Borne       

                              6.3.3 Powder     

                              6.3.4 Market Size Estimations & Forecasts (2019-2024)   

                              6.3.5 Y-o-Y Growth Rate Analysis              

                              6.3.6 Market Attractiveness Index           

               6.4 Automotive Paints Market, By Vehicle Type                 

                              6.4.1 Passenger Cars      

                              6.4.2 Light Commercial Vehicle  

                              6.4.3 Heavy Commercial Vehicle

                              6.4.4 Market Size Estimations & Forecasts (2019-2024)   

                              6.4.5 Y-o-Y Growth Rate Analysis              

                              6.4.6 Market Attractiveness Index           

7. Geographical Landscape                                        

               7.1 Global Identity Governance and Administration Market, by Region                   

               7.2 North America - Market Analysis (2018 - 2024)                          

                              7.2.1 By Country              

                                             7.2.1.1 USA

                                             7.2.1.2 Canada

                              7.2.2 By Coating              

                              7.2.3 By Texture Type    

                              7.2.4 By Technology       

                              7.2.5 By Vehicle Type     

               7.3 Europe                        

                              7.3.1 By Country              

                                             7.3.1.1 UK

                                             7.3.1.2 France

                                             7.3.1.3 Germany

                                             7.3.1.4 Spain

                                             7.3.1.5 Italy

                                             7.3.1.6 Rest of Europe

                              7.3.2 By Coating              

                              7.3.3 By Texture Type    

                              7.3.4 By Technology       

                              7.3.5 By Vehicle Type     

               7.4 Asia Pacific                 

                              7.4.1 By Country              

                                             7.4.1.1 China

                                             7.4.1.2 India

                                             7.4.1.3 Japan

                                             7.4.1.4 South Korea

                                             7.4.1.5 South East Asia

                                             7.4.1.6 Australia & NZ

                                             7.4.1.7 Rest of Asia-Pacific

                              7.4.2 By Coating              

                              7.4.3 By Texture Type    

                              7.4.4 By Technology       

                              7.4.5 By Vehicle Type     

               7.5 Latin America                           

                              7.5.1 By Country              

                                             7.5.1.1 Brazil

                                             7.5.1.2 Argentina

                                             7.5.1.3 Mexico

                                             7.5.1.4 Rest of Latin America

                              7.5.2 By Coating              

                              7.5.3 By Texture Type    

                              7.5.4 By Technology       

                              7.5.5 By Vehicle Type     

               7.6 Middle East and Africa                         

                              7.6.1 By Country              

                                             7.6.1.1 Middle East

                                             7.6.1.2 Africa

                              7.6.2 By Coating              

                              7.6.3 By Texture Type    

                              7.6.4 By Technology       

                              7.6.5 By Vehicle Type     

8. Key Player Analysis                                   

               8.1 Akzo Nobel NV                         

                              8.1.1 Business Description           

                              8.1.2 Products/Service   

                              8.1.3 Financials 

                              8.1.4 SWOT Analysis       

                              8.1.5 Recent Developments        

                              8.1.6 Analyst Overview  

               8.2 Axalta Coating Systems Ltd                 

               8.3 BASF SE                       

               8.4 Clariant AG                

               8.5 DuPont Coatings & Color Technologies Group                            

               8.6 Kansai Paint Co., Ltd               

               8.7 Nippon Paint Holdings Co Ltd                            

               8.8 The Sherwin Williams Company                        

               8.9 The Valspar Corporation                      

9. Market Outlook & Investment Opportunities                                 

Appendix                                          

               List of Tables                    

               List of Figures                  

  • Global and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms By Cutting Systems and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Automotive Paints Market By Region, From 2020-2025 ( USD Billion )
  2. Global Automotive Paints Market By Coating, From 2020-2025 ( USD Billion )
  3. Global Primer Market By Region, From 2020-2025 ( USD Billion )
  4. Global Basecoat Market By Region, From 2020-2025 ( USD Billion )
  5. Global Clearcoat Market By Region, From 2020-2025 ( USD Billion )
  6. Global Electrocoat Market By Region, From 2020-2025 ( USD Billion )
  7. Global Automotive Paints Market By Texture Type, From 2020-2025 ( USD Billion )
  8. Global Solid Market By Region, From 2020-2025 ( USD Billion )
  9. Global Metallic Market By Region, From 2020-2025 ( USD Billion )
  10. Global Pearlescent Market By Region, From 2020-2025 ( USD Billion )
  11. Global Automotive Paints Market By Technology, From 2020-2025 ( USD Billion )
  12. Global Waterborne Market By Region, From 2020-2025 ( USD Billion )
  13. Global Solvent–Borne Market By Region, From 2020-2025 ( USD Billion )
  14. Global Powder Market By Region, From 2020-2025 ( USD Billion )
  15. Global Automotive Paints Market By Vehicle Type, From 2020-2025 ( USD Billion )
  16. Global Passenger Cars Market By Region, From 2020-2025 ( USD Billion )
  17. Global Light Commercial Vehicle Market By Region, From 2020-2025 ( USD Billion )
  18. Global Heavy Commercial Vehicle Market By Region, From 2020-2025 ( USD Billion )

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