Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Automotive Paints Market by Type (E-Coat, Primer, Basecoat, Clearcoat), Resin (PU, Epoxy, Acrylic), Technology (Solvent, Water, Powder), Paint Equipment (Airless, Electrostatic), Texture, Content, ICE & EVs, Refinish and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The automotive paints market is estimated to be USD 8.4 billion in 2023 and is projected to reach USD 9.9 billion by 2028, at a CAGR of 3.2%.
The automotive paints market is witnessing growth, driven by increased electric vehicle production and SUV popularity. Waterborne paints, with fewer VOCs, are the fastest-growing segment, favored for sustainability. Stringent environmental regulations are pushing for innovative, eco-friendly solutions, boosting the waterborne technology segment. The market dynamics show a mature presence in refinishing paints, and basecoat dominates, driving heavy investment.
North America is the second fastest-growing market, with robust vehicle production and strict VOC regulations promoting low-VOC paints. Industry stakeholders include Tier 1 companies and OEMs, with a focus on sustainability. The comprehensive report covers key market segments and highlights the importance of adapting to environmental regulations and innovation in paint manufacturing for future success.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 307 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $8.4 Billion |
| Forecasted Market Value (USD) by 2028 | $9.9 Billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
Premium Insights
- Increase in Vehicle Production to Drive Growth
- Base Coat to Acquire Maximum Market Share by Value in 2028
- Solvent-Borne to be Largest Segment by Value During Forecast Period
- Polyurethane to Hold Largest Market Share by Value in 2028
- Metallic to be Largest Segment by Volume During the Forecast Period
- Passenger Car to Secure Leading Market Position by Value During Forecast Period
- Pigment & Colorant to Record Highest CAGR During Forecast Period
- Bev to Surpass Other Segments by Value During Forecast Period
- Asia-Pacific to be Largest Market During Forecast Period
- Polyurethane to Secure Leading Market Position During Forecast Period
- Asia-Pacific to be the Largest Market for Electrostatic Spray Guns During the Forecast Period
Case Studies
- Mitsubishi Chemical Group
- Popular Paints
- Twin City Fan
- Popularity of Automotive Colors Worldwide
- Popular Automotive Colors
Market Overview
Drivers
- Rising Production of Sustainable Automotive Paints due to Stringent Emission Regulations
- Expansion of Established Players in Refinish Paints Market
- Restraints
- Reduced Number of Accidents and Refinish Jobs due to Advancements in Autonomous Technologies
Opportunity
- Emergence of Innovative Paint Technologies
- Growing Popularity of SUVs
Challenges
- Lack of Adequate Waste Management Infrastructure in Developing Countries
- Rapidly Changing Consumer Preferences
- Decline in Vehicle Sales
- Trends and Disruptions Impacting Customers' Businesses
Technology Analysis
- Nano-Ceramic Coatings
- Smart Paints
- Self-Cleaning Paints
- Dress Up
- Self-Healing Wraps
- Paint Atomizers
- Smart Automotive Paint Booths
- Antimicrobial Coatings
- Impact of Electric Vehicles on Automotive Paints Market
Company Profiles
Key Players
- Ppg Industries, Inc.
- Basf Se
- Axalta Coating Systems, LLC
- Akzo Nobel N.V.
- The Sherwin-Williams Company
- Kansai Paint Co., Ltd.
- Solvay
- Nippon Paint Holdings Co., Ltd.
- Covestro Ag
- Clariant
Other Players
- Jotun
- Skshu Paint Co., Ltd.
- Kcc Corporation
- Donglai Coating Technology (Shanghai) Co., Ltd.
- Dupont
- Standox
- Nexa Autocolor
- 3M
- Wacker Chemie Ag
- Ppg Asianpaints
Analyst's Recommendations
- Asia-Pacific to be Major Market for Automotive Paints
- Environment Friendliness and Better Strength-To-Weight Ratio to Drive Polyurethane Segment
- Conclusion
For more information about this report visit https://www.researchandmarkets.com/r/p6w1f9
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