New York, NY, Aug. 23, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Automotive Coatings Market By Product (Polyurethane, Epoxy, Acrylic, and Others), By Technology (Solvent-Borne, Water-Borne, Powder, and UV-Cured), and By Coat (Clear Coat, Basecoat, Primer, and E-Coat): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global automotive coatings market was USD 15.56 billion in 2018 and is expected to reach around USD 24.85 billion by 2025, growing at a CAGR of 6.92% between 2019 and 2025.
Automotive coatings are applied on automotive/vehicle metal surfaces to ensure protection against corrosion and rust. Automotive coatings are lightweight in nature apart from being abrasion-resistant, chemical-resistant, and retain gloss. The global automotive coatings market is likely to experience significant growth over the upcoming years, owing to the growing number of vehicles and substantial developments of protective features like UV-radiation protection, protection from extreme temperature acid rain, and others provided by automotive manufacturers. Rapid urbanization and improving living standards of the global population are also driving the automotive coatings market. However, the volatile raw material prices of automotive coatings may hamper the automotive coatings market growth across the globe to some extent.
Browse through 105 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Automotive Coatings Market: By Product, Type, Industry Size, Share, Segments, Analysis and Forecast, 2018–2025”.
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The automotive coatings market is mainly fragmented based on technology, product, and coat. By product, the automotive coatings market includes acrylic, epoxy, polyurethane, and others (melamine, saturated polyester resin, and alkyds). The epoxy segment was the fastest growing in the market and accounted for a significant share in 2018. By technology, the automotive coatings market is categorized into water-borne, powder, solvent-borne, and UV-cured. Water-borne held a major share in 2018. By coat, the automotive coatings market is divided into basecoat, clear coat, e-coat, and primer. In 2018, the clear coat segment was the leading segment of the automotive coatings market globally.
In 2018, the Asia Pacific held the largest share of the automotive coatings market globally. In terms of value, the region is estimated to show the highest CAGR in the years ahead. China and India have been making vital contributions to the region’s automotive coatings market. China, India, Thailand, Indonesia, and South Korea are witnessing steady growth rates in the automotive coatings consumption across various end-user industries. Additionally, flourishing automotive industry, increasing purchasing power, developing infrastructure, and positive economic growth are some of the important factors that are expected to drive the automotive coatings market in the region in the years ahead. In the Asia Pacific region, growing automotive production and sales in China, Japan, India, and South Korea, rising rate of industrialization, and constantly growing demand for the automotive/vehicle will also boost the automotive market coatings in the future.
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Europe held the second-largest automotive coatings market share in 2018, due to stringent vehicle paint regulations and continuously growing automotive industry. Rapid industrial growth, innovative automotive designing process, developing coating process innovations are leading to huge investments in the automotive sector and increasing the regional demand for eco-friendly coatings, which is also fuelling the automotive coatings market in Europe.
In North America, the U.S. is the main player in the automotive coatings market apart from being a major regional contributor to the automotive coatings materials product growth in 2018. North American countries (the U.S., Canada, and Mexico) are also observing rising demand for automotive coatings materials due to the flourishing automotive sector.
Browse the full “Automotive Coatings Market By Product (Polyurethane, Epoxy, Acrylic, and Others), By Technology (Solvent-Borne, Water-Borne, Powder, and UV-Cured), and By Coat (Clear Coat, Basecoat, Primer, and E-Coat): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”Report at https://www.zionmarketresearch.com/report/automotive-coatings-market
The Latin American and the Middle Eastern and African regions are projected to experience notable automotive coatings market growth over the forecast timeframe. This can be attributed to the significant investments made by international companies for several automotive coatings projects in these regions. Governments of South Africa, Brazil, Argentina, and the UAE are promoting technological use to further their automotive coatings market.
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Some major players of the automotive coatings market are BASF, Axalta Coating Systems, Kansai Paint, Nippon Paints, Mitsui Chemicals, PPG Industries, Sherwin Williams, 3M Company, Beckers Group, KCC Paint, Arkema, Jotun, Clariant, Bayer, Berger Paints, Valspar Corporation, DSM, Cabot Corporation, Lord Corporation, Solvay, and Matrix System Automotive Finishes.
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This report segments the global automotive coatings market into:
Global Automotive Coatings Market: Product Analysis
- Polyurethane
- Epoxy
- Acrylic
- Others
Global Automotive Coatings Market: Technology Analysis
- Solvent-Borne
- Water-Borne
- Powder
- UV-Cured
Global Automotive Coatings Market: Coat Analysis
- Clear Coat
- Basecoat
- Primer
- E-Coat
Global Automotive Coatings Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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