Global Automotive Coatings Market Drivers, Trends And Restraints For 2022-2031
Automotive Coatings Global Market Report 2022 : Market Size, Trends, And Forecast To 2026
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As per The Business Research Company’s “Automotive Coatings Global Market Report 2022”, the automotive coatings market share is predicted to reach a value of $18.56 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The automotive coatings market is expected to grow to $24.55 billion in 2026 at a CAGR of 7.2%. The increasing demand for lightweight vehicles is significantly contributing to the growth of the automotive coatings market.
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Key Trends In The Automotive Coatings Market
Strategic collaborations between companies have emerged as a key trend gaining popularity in the automotive coating market. Companies in the automotive coating industry are undergoing various collaborations to develop new technologies and products. For instance, in 2020, IGL Coatings, a pioneer in ceramic and automobile eco-friendly coatings, has announced a strategic partnership with Yamaclar, a multi-generational Turkish company that manufactures various automotive paints, for the distribution of its products in Turkey. Moreover, in 2020, BASF, a Germany-based automotive manufacturer in China, signed a cooperative agreement with GACNE, a pioneer in the automotive paint industry, to improve product quality and efficiency while also implementing digital automotive coatings solutions.
Overview Of The Automotive Coatings Market
The automotive coatings market consists of sales of automotive coatings by entities (organizations, sole traders, and partnerships) that are applied on the surface of automobiles to protect them from corrosion and improve their aesthetic value. Automotive coatings are used to coat interior and exterior parts of vehicles with some powder or liquid to enhance the look and toughness of automobiles and also to make them heat and shock-resistant.
Learn more on the global automotive coatings market report at:
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Automotive Coatings Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
• By Coat Type: Clearcoat, Basecoat, E-Coat, Primer
• By Resin Type: Polyurethane, Epoxy, Acrylic
• By Technology: Waterborne Coatings, Solventborne Coatings, Powder coatings, UV-Cured Coatings
• By Substrate: Metal, Plastics
• By End-Use: Light Vehicle OEM, Commercial OEM, Automotive Refinish
• By Geography: The global automotive coatings market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific holds the largest share in the market.
Major market players such as The Valspar Corporation, Solvay, Sherwin-Williams Company, PPG Industries, Nippon Paint Automotive Coatings Co. Ltd., Lord Corporation, KCC Paint, Kansai Paint Co. Ltd, Arkema SA, Eastman Chemical, Clariant AG, Cabot Corporation
Trends, opportunities, strategies and so much more.
Automotive Coatings Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides in-depth automotive coatings market research. The market report analyzes automotive coatings global market size, automotive coatings global market growth drivers, automotive coatings global market segments, automotive coatings global market major players, automotive coatings global market growth across geographies, and automotive coatings global market competitors’ revenues and market positioning. The automotive coatings market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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