Automotive Coatings Market Slated to Witness Tremendous Growth by 2027

The automotive coatings market continues to witness significant transformation ranging from new material developments in the vehicle production to higher popularity of traditional colors compared to “more colorful” alternatives. The automotive coatings market is expected to witness an increase in volume sales of over 3,500 tons in 2018 over 2017, according to a recent Fact.MR study. Refinish formulations continue to gain center stage in the automotive coatings market, while water-borne coatings are gaining increased focus for basecoats.

Water borne automotive coatings have gained utter prominence over the years of evolution, primarily driven by environmental and health concerns of the solvent-borne automotive coatings. The study estimates nearly 6 in 10 tons of automotive coating sold worldwide in 2018 to be water-borne. However, demand for waterborne coatings as primer surface layer is likely to witness decline in tandem with increasing palpability of UV cure automotive coatings.

 In this automotive coatings market study, the following years are considered to predict the market footprint:

• History Year: 2013 - 2017


• Base Year: 2013


• Estimated Year: 2027


• Forecast Year: 2018 – 2027

The business intelligence study of the automotive coatings market covers the estimation size of the market both in terms of value (Mn/Bn USD) and volume (x units). In a bid to recognize the growth prospects in the automotive coatings market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market. Each segment of the automotive coatings market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:

• North America (U.S., Canada)


• Latin America (Brazil, Mexico)


• Europe (U.K., Germany)


• APEJ (China, India)

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The key players in the global automotive coatings market report consist of

• PPG


• AkzoNobel


• The Sherwin-Williams Co.


• RPM International Inc.


• Nippon Paint Holdings Co.


• Axalta Coating Systems


• BASF Coatings


• Kansai Paint Co. Ltd.


• Behr Process Corp.


• Benjamin Moore & Co.


• Nippon Paint (USA)

Each market player encompassed in the automotive coatings market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R&D projects, and business tactics. In addition, the automotive coatings market study scrutinizes the strengths, weaknesses, opportunities and threats (SWOT) analysis.

On the basis of resin type, the global automotive coatings market report covers the footprint, and consumption of the segments including

• Acrylics


• Fluoropolymers


• Urethanes


• Epoxy


• Poly Alkyds


• Amines

The global automotive coatings market covers the demand trends of coat type which includes

• Top Coat


• Primer


• Basecoat


• Clear coat

Acrylics to Remain Preferred Resin for Automotive Coatings

Fact.MR study opines that acrylics will remain the top-selling resin in the automotive coatings market, as these resins witness predominant use in passenger cars, trailed by fluoropolymers. However, recent shift in manufacturer preferences have led the demand for amines and poly alkyds, and it is highly likely that these resins will record relatively faster volume sales in 2018 and beyond.

Shares of the automotive coatings market are expected to remain clustered at the top and splintered at the bottom. Top 5 players will collectively account for nearly 40% share of the automotive coatings market. Supremacy of these players will be upheld by their sound operations and robust sales infrastructure worldwide. Small and mid-sized automotive coatings manufacturers are focused toward collaborations with established players as a key expansion strategy to strengthen their distribution and manufacturing capabilities.

Leading automotive coatings manufacturing companies emphasize providing automotive OEMs and key Tier 1 customers with value-added, best-in-class service products. These products are targeted at cutting down cost for customers while increasing their shareholder value in the automotive coatings market. Provision of cost-effective structure management to customers for maintaining safety standards and enabling process optimization, is a key focus area of leading automotive coatings market players.

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“Lightweighting of vehicles and the shift toward low-temperature curing have been driving advancements in automotive coatings in recent years, with leading manufacturers exploring use of high-strength plastics and carbon fiber-reinforced polymers. Automotive coatings manufacturers are also concentrating on the development of “smart coatings” that feature enhanced performance characteristics including solar-reflective functionalities and self-healing or dirt-phobic,” says a lead analyst at Fact.MR