Automotive Coatings Market worth $19.0 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 21, 2023 /PRNewswire/ -- The Report "Automotive Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Vehicle Type (Passenger Cars, Commercial Vehicles), Technology Type (Solvent-based, Water-based, Powder-based), Coat Type (Clearcoat, Basecoat) & Region - Global Forecast to 2028", is projected to reach a market size of USD 19.0 billion by 2028 from USD 15.5 billion in 2023, at a CAGR of 4.1%. Asia pacific is the one of the largest markets for automotive coatings. The demand for automotive coatings is increasing in the Clearcoat, Basecoat, Primer, and E-Coat. The demand from developing nations, such as China, India, Mexico, Germany, Indonesia, and Brazil are expected to drive the global automotive coatings market.

Browse in-depth TOC on "Automotive Coatings Market"

250 – Tables
70 – Figures
300 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=3359935

Primer by coat type segment is expected to account second largest share of the automotive coatings market during the forecasted period.

Primers play a crucial role in the coating system by preparing the substrate surface for subsequent layers of paint. One key function of primers is to promote adhesion, ensuring that the paint adheres securely to the vehicle surface. This adhesion is vital for the overall durability and longevity of the coating system. primers contribute to corrosion resistance by creating a protective barrier between the substrate and environmental elements. The automotive industry places a strong emphasis on preventing corrosion to enhance the lifespan of vehicles, especially considering exposure to various weather conditions and road salts. Primers provide an effective defense against corrosion, making them an essential component in the automotive coating process.

Polyurethane, by resin type segment hold the largest share in overall automotive coatings market during forecast period.

polyurethane coatings are renowned for their exceptional durability and resistance to various environmental factors. They provide a robust protective layer that shields vehicles from UV radiation, weathering, chemicals, and abrasion. This durability ensures that the automotive coatings maintain their aesthetic appeal and protective qualities over an extended period, contributing to their widespread adoption. polyurethane coatings offer versatility in terms of application and performance. They can be formulated to provide different finishes, including high gloss, matte, or satin, meeting the diverse aesthetic preferences of consumers. Polyurethane coatings also adhere well to various substrates, including metal, plastic, and composite materials, making them suitable for application across different components of a vehicle.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=3359935

Asia Pacific region likely to be the fastest growing automotive coatings market during the forecast period.

Asia-Pacific is a major hub for automotive manufacturing. The region has witnessed a surge in both production and sales of automobiles. The automotive industry's growth is a direct driver for the demand for automotive coatings as manufacturers seek high-quality and technologically advanced coatings to meet consumer expectations and regulatory standards. The Asia-Pacific region, particularly countries like China and India, has been experiencing rapid economic growth. This growth has led to an increase in disposable income, urbanization, and an expanding middle class. As a result, there is a growing demand for automobiles, driving the need for automotive coatings to protect and enhance the aesthetic appeal of vehicles.

BASE SE (Germany), PPG Industries, Inc. (US), Axalta coating systems (US), Akzo Nobel N.V. (Netherlands), and Kansai Paint Co., Ltd (Japan) are the key players in the global automotive coatings market.

Browse Adjacent Market: Coatings Adhesives Sealants and Elastomers Market Research Reports

Related Reports:

Green Coatings Market - Global Forecast to 2027

Powder Coatings Market - Global Forecast to 2028

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-coating-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-coating.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg