The global automotive paints and coatings market has been estimated at USD 18.57 billion in 2016 and is projected to reach USD 24.37 billion by 2021, at a CAGR of 5.59% during the forecast period, 2016 to 2021.
The increasing demand for metallic coating, shifting consumer preferences towards the vehicle color and weight, improved technological changes; coupled with the growth of the automotive industry are expected to drive the growth of the automotive paints and coatings industry, globally. However, the market faces certain drawbacks, such as the volatility of raw material prices, and the increasing government regulations regarding environmental issues and energy cost. These factors may act as roadblocks to the growth of the market.
The global automotive paints and coatings market has been segmented, by technology, into solvent-borne, water-borne, and powder technologies. In 2015, the global share of solvent-borne coatings was the highest at 68.2%. However, with strict regulations on the VOC emissions, both consumers and producers are shifting their preferences towards water-borne and powder technology. The automotive paints and coatings market is also broadly segmented by layer into E-coat, primer, base coat, and clear coat.
Growth in the Automotive Industry
Increasing Demand for Metallic Coating
Shifting Consumer Preferences
Improved Technological Changes
Increasing Government Regulations
Volatility in Raw Material Prices
Innovation in UV Technology
Some of the major companies dominating this market:
Kansai Paint Co., Ltd.
Nippon Paint Holdings Co., Ltd.
The Valspar Corp.
Key Topics Covered:
2. Executive Summary
3. Automotive Paints and Coatings Market
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis (Market Size, Growth and Forecast)