Automotive Coatings Market Outlook and Forecasted Analysis Through 2027

Top 5 companies in the automotive coatings market will continue to hold nearly two-fifth market share, with an average revenue range of US$ 5Bn to US$ 8 Bn. This further implies a high consolidation of the automotive coatings market at the brim, whereas a splintered nature at the brink. Robust sales infrastructure, sound operations and established global presence continue to retain buoyancy of Tier 1 players in the automotive coatings market. While product developments and innovations are key strategies adopted by leading automotive coatings manufacturers, small and mid-sized companies are increasingly focusing on the introduction of new products, collaborations with leading players and suppliers to strengthen their manufacturing capabilities and distribution, as key expansion strategies.

Compact Painting Processes Gain Emphasis to Attain Future Sustainability Targets

Coating process innovation and automotive design continue to drive the demand & supply trends in the automotive coatings market, with automakers exploring materials for creating multi-substrate designs and manufacturing light-weight cars. OEMs are continuously taking efforts to optimize the automotive coating process along with quality retention, as coating is deemed most energy- and cost-intensive process and has largest environmental footprint in the automotive industry. This has further led automotive coatings behemoths such as PPG Industries, Axalta Coating Systems, and BASF to develop compact painting process, which is becoming the standard of choice in order to attain future sustainability targets. Major compact automotive coatings process being implemented worldwide include B1:B2, 2-Wet and 3-Wet processes, and other primer-less technologies that include LCV painting and Eco Concept for cars.

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Shift of Automakers from Metals to Plastic to Remain Gradual Influencer for Automotive Coatings Developments

As automakers continue to explore various lightweight material alternatives to the traditional steel, a gradual shift is being witnessed toward multi-material approach in a bid to realize effective weight reduction. Key materials being explored by the automakers include various high-strength plastics and carbon fiber reinforced polymers. Significant challenges are faced by coating formulators and applicators alike, in case of vehicles manufactured from multi-metal substrates. This is further expected to drive innovation across the overall automotive coating process and supply chain. However, the shift from metals to plastics in the automotive industry is not expected to be substantial, but gradual. Despite concerns over coatings on multi-metal substrates, the automotive coatings market will continue to remain influenced by the gradual metal to plastic shift of automakers.

Material Constraints Ebb Smart Coatings Development

Focus on smart coatings in the automotive industry has been increasing in tandem with the use of low-temperature cure coating system, wherein the process requires modification into complete coating system. This further ensures all coating layers to be entirely cured at set specific temperature. Technology of low temperature curing, faster drying, along with high gloss has recently witnessed permeation in the bus and truck manufacturing. Key attributes of smart automotive coatings such as self-cleaning & self-healing, and solar reflective functionalities are expected to further drive their penetration into the industry. However, ability of being painted in large quantities with quality retention over the vehicle’s lifetime is a key challenge impeding the market penetration of smart automotive coatings.

Solvent-borne Coatings Currently in Demand Despite Concerns

Demand for solvent borne automotive coatings is expected to increase at a comparatively higher rate than water-borne coatings in 2018, despite rising environmental and health concerns associated with these variants. Relative preference for solvent-borne solutions is hinged on the fact that these automotive coatings retain the bond between pigments liquid and binding agents. However, substantial efforts being taken to curtail or eliminate emissions at the time of hardening owing to environmental and health concerns allude a decline in future demand for solvent-borne automotive coatings.

Competition Landscape

Fact.MR’s study on the automotive coatings market delivers important information on the demand & supply trends of automotive coatings across the globe, coupled with a scrutinized assessment on competition landscape of the automotive coatings market. Exhaustive analysis on leading and emerging players in the automotive coatings market is offered in the report, which involves company overview, product overview, key financials and recent developments.

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Key players profiled in the report include Nippon Paint (USA), Benjamin Moore & Co., Behr Process Corp., Kansai Paint Co. Ltd., BASF Coatings, Axalta Coating Systems, Nippon Paint Holdings Co., RPM International Inc., The Sherwin-Williams Co., AkzoNobel, and PPG.

Recent Developments of Automotive Coatings Manufacturers

  • Axalta Coating Systems has recently announced the launch of its StarLite, a modern tech-savvy, premium color for current as well as future automobiles. This automotive coating is light and reflective which is based on tri-coat process, and offers enhanced functionalities.
  • PPG Industries has introduced its PPG ENVIROCRON Extreme Protection, which is a powder automotive coating system, formulated for offering corrosion and chip resistance to coil-springs in OEM vehicles.
  • The Sherwin-Williams Co. has recently launched its range of refinish systems, majorly waterborne, that offer highly productive basecoat and consistent performance along with premium experience. These automotive coatings are approved for use in the National Rule as well as regulated areas.

 Definition

Automotive coatings are coatings used for both aesthetics and protection purposes, and are more convoluted and tedious activity compared to other industrial coatings. Basecoat plays a pivotal role in automotive coatings, with constituents representing special-effect substances and pigments.

About the Report

This report on the automotive coatings market is an exhaustive compilation of actionable and valuable insights. The report offers an in-depth assessment on the automotive coatings market, which incorporates study on important dynamics including growth drivers, restraints, trends, and opportunities for the automotive coatings market.

The report primary focuses on the provision of authentic intelligence to its readers with regard to the automotive coatings market, which would enable them in gathering and devising strategies on the basis of the insights delivered on the automotive coatings market. In key sections of the report, an overview on the automotive coatings market has been offered which includes a concise introduction to the automotive coatings market, along with an accurate definition of the target product – automotive coatings.

This further enables the clients in better understanding current as well as future potential for growth of the automotive coatings market. Leveraging insights and data offered on the automotive coatings market in this report, clients are enabled to take informed steps for their businesses in the automotive coatings market. Size of the automotive coatings market has been evaluated in terms of volume (Tons) and value (US$ Mn).

Segmentation

The report offers a detailed analysis and forecast on the automotive coatings market based on a segmental analysis. Key segments identified in the automotive coatings market report include resin type, coat type, vehicle type, technology and region. All the automotive coatings market segments have been analyzed and important market numbers such as the market share, Y-o-Y growth, and revenue & volume comparison has been offered for these segments.

The report has split the automotive coatings market regionally into Middle East & Africa (MEA), North America, Europe, Japan, Latin America and Asia-Pacific excluding Japan (APEJ). A country-level analysis on all these regional markets for automotive coatings has also been offered in key dedicated chapters of the report.

Additional Questions Answered

This report offers answers to several other important queries apropos of the automotive coatings market, other than the insights offered above. Some of the key queries are listed below.

  • What will be the automotive coatings market size in 2019?
  • Which region will remain most lucrative for the automotive coatings market growth?
  • Which resin type is preferred for the automotive coatings, what is their market size in 2018?
  • What is the market share comparison between coat types in the automotive coatings market?
  • What will be growth rate of UV core automotive coatings in 2018?
  • What will be volume sales of automotive coatings for passenger cars in 2018?

Research Methodology

Insights and forecast offered on the automotive coatings market are based on a robust research methodology that is used to develop this report on the automotive coatings market. The research methodology used involves exhaustive secondary as well as primary researches to gain detailed information on the automotive coatings market.

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Analysts have leveraged the research approach to arrive at the automotive coatings market size offered, along with other important numbers such as revenue share and CAGR of all the market segments identified in the report. Information collected on the automotive coatings market is transitioned via many validation funnels, before their inclusion in the report.

Fact.MR’s unique research approach ensures credibility of the data obtained and statistics derived, which in turn offers readers with accurate information, and authentic data on the automotive coatings market. Scope of the automotive coatings market report is to deliver precise intelligence and valuable insights on the automotive coatings market, thereby enabling clients to make proper decision for future growth of their businesses in the automotive coatings market.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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