Automotive Paints Market

Automotive Paints Market accounted for US$7.30Bn in 2017 is expected to reach US$11.26 Bn. by 2026 at a CAGR of 5.57%. The driving factor for the Automotive Paints Market is an increase in vehicle production and its use in dual purpose of decoration as well as protection. Increasing population, infrastructure demand, a rise in income, various features and consumer preferences are the key factors to growth in automotive paint market. High cost and development will be the restraint for Automotive Paints market. The automotive paints market is segmented into the vehicle type, Coat Type, Texture type, Technology, and geography. In terms of Vehicle Type, Passenger cars segment will hold higher demand due to the rise in mid-size vehicle production and its variance option in the paint on a vehicle will be the factor for growth. In technology, Powder coatings segment will grow at a fast pace owing to growing technological advancements, increasing demand from applications and supporting environmental regulations will be the growth factor for automotive paints market. Among region, Asia Pacific is expected to grow at the highest CAGR 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 of 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.

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The scope of the Automotive Paints MarketBy Vehicle Type

• Light commercial vehicles • Heavy commercial vehicles • Passenger cars

By Coat Type

• Base coat • Clear coat • Primer coat • Electro coat

By Texture Type

• Metallic texture • Solid texture

By Technology

• Powder coatings • Waterborne coatings • Solvent borne coatings

By Geography

• North America • Europe • Asia-Pacific • 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 • PPG • AkzoNobel • Sherwin Williams • Valspar • Solvay • DOW Chemical • 3M • KCC • The Valspar Corporation

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