Automotive Paint and Coatings Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET INTRODUCTION
Automotive paints and coatings are used to protect as well as f the parts and body of any vehicle. These paints and coatings are capable of producing durable surfaces, maximizing efficiency, exceeding customers' expectations of appearance, as well as meeting environmental regulations. Automotive paints and coatings have proven to improve the durability of a vehicle by protecting it from extreme temperature, foreign particles, UV radiation, and acid rain.
MARKET DYNAMICS
The key factor bolstering the automotive paint and coatings market is the increasing vehicle production and rising demand for carbon footprint technologies. Demand from the aftermarket for automotive paint and coatings is also driving the market growth. Also, the automotive paint and coatings market growth are propelled by the efforts made by the paint and coats manufacturers to offer cost-effective and wide-ranging effective solutions through their extensive product portfolio, without compromising the quality of the paints.
MARKET SCOPE
The "Global Automotive Paint and Coatings Market Analysis to 2031" is a specialized and in-depth study of the automotive paint and coatings industry with a special focus on the global market trend analysis. The report aims to provide an overview of automotive paint and coatings market with detailed market segmentation by coat type, formulation, vehicle type, and geography. The global automotive paint and coatings market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive paint and coatings market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global automotive paint and coatings market is segmented on the basis of coat type, formulation, and vehicle type. Based on coat type, the market is segmented into primer, clear coat, basecoat, electro coat, and others. On the basis of the formulation the market is segmented into solvent-borne, water-borne, and others. The market on the basis of the vehicle type is classified into passenger, commercial, and two-wheelers.
REGIONAL FRAMEWORK Shejal Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive paint and coatings market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The automotive paint and coatings market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting automotive paint and coatings market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and SAM after evaluating political, economic, social and technological factors affecting the automotive paint and coatings market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive paint and coatings market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The automotive paint and coatings market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting automotive paint and coatings market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and SAM after evaluating political, economic, social and technological factors affecting the automotive paint and coatings market in these regions.
MARKET PLAYERS
The reports cover key developments in the automotive paint and coatings market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for expansion of business and customer base of market players. The market payers from automotive paint and coatings market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Paint and Coatings in the global market. Below mentioned is the list of few companies engaged in the automotive paint and coatings market.
The report also includes the profiles of key automotive paint and coatings companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- AkzoNobel N.V.
- Arkema Group
- Axalta Coating Systems
- BASF SE
- Beckers Group
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd
- PPG Industries, Inc.
- Solvay S.A
- The Valspar Corp.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
- Automotive Paint and Coatings Market - By Coat Type
- Automotive Paint and Coatings Market - By Formulation
- Automotive Paint and Coatings Market - By Vehicle Type
- Automotive Paint and Coatings Market - By Region
- By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AUTOMOTIVE PAINT AND COATINGS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. AUTOMOTIVE PAINT AND COATINGS MARKET - KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. AUTOMOTIVE PAINT AND COATINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. AUTOMOTIVE PAINT AND COATINGS - GLOBAL MARKET OVERVIEW
6.2. AUTOMOTIVE PAINT AND COATINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. AUTOMOTIVE PAINT AND COATINGS MARKET REVENUE AND FORECASTS TO 2028 - COAT TYPE
7.1. OVERVIEW
7.2. COAT TYPE MARKET FORECASTS AND ANALYSIS
7.3. PRIMER
7.3.1. Overview
7.3.2. Primer Market Forecast and Analysis
7.4. CLEAR COAT
7.4.1. Overview
7.4.2. Clear Coat Market Forecast and Analysis
7.5. BASECOAT
7.5.1. Overview
7.5.2. Basecoat Market Forecast and Analysis
7.6. ELECTRO COAT
7.6.1. Overview
7.6.2. Electro coat Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. AUTOMOTIVE PAINT AND COATINGS MARKET REVENUE AND FORECASTS TO 2028 - FORMULATION
8.1. OVERVIEW
8.2. FORMULATION MARKET FORECASTS AND ANALYSIS
8.3. SOLVENT-BORNE
8.3.1. Overview
8.3.2. Solvent-borne Market Forecast and Analysis
8.4. WATER-BORNE
8.4.1. Overview
8.4.2. Water-borne Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. AUTOMOTIVE PAINT AND COATINGS MARKET REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
9.1. OVERVIEW
9.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. PASSENGER
9.3.1. Overview
9.3.2. Passenger Market Forecast and Analysis
9.4. COMMERCIAL
9.4.1. Overview
9.4.2. Commercial Market Forecast and Analysis
9.5. TWO-WHEELERS
9.5.1. Overview
9.5.2. Two-wheelers Market Forecast and Analysis
10. AUTOMOTIVE PAINT AND COATINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1. North America Automotive Paint and Coatings Market Overview
10.1.2. North America Automotive Paint and Coatings Market Forecasts and Analysis
10.1.3. North America Market Forecasts and Analysis - By Coat Type
10.1.4. North America Market Forecasts and Analysis - By Formulation
10.1.5. North America Market Forecasts and Analysis - By Vehicle Type
10.1.6. North America Market Forecasts and Analysis - By Countries
10.1.6.1. US market
10.1.6.1.1. US Market by Coat Type
10.1.6.1.2. US Market by Formulation
10.1.6.1.3. US Market by Vehicle Type
10.1.6.2. Canada market
10.1.6.2.1. Canada Market by Coat Type
10.1.6.2.2. Canada Market by Formulation
10.1.6.2.3. Canada Market by Vehicle Type
10.1.6.3. Mexico market
10.1.6.3.1. Mexico Market by Coat Type
10.1.6.3.2. Mexico Market by Formulation
10.1.6.3.3. Mexico Market by Vehicle Type
10.2. EUROPE
10.2.1. Europe Automotive Paint and Coatings Market Overview
10.2.2. Europe Automotive Paint and Coatings Market Forecasts and Analysis
10.2.3. Europe Market Forecasts and Analysis - By Coat Type
10.2.4. Europe Market Forecasts and Analysis - By Formulation
10.2.5. Europe Market Forecasts and Analysis - By Vehicle Type
10.2.6. Europe Market Forecasts and Analysis - By Countries
10.2.6.1. France market
10.2.6.1.1. France Market by Coat Type
10.2.6.1.2. France Market by Formulation
10.2.6.1.3. France Market by Vehicle Type
10.2.6.2. Germany market
10.2.6.2.1. Germany Market by Coat Type
10.2.6.2.2. Germany Market by Formulation
10.2.6.2.3. Germany Market by Vehicle Type
10.2.6.3. Italy market
10.2.6.3.1. Italy Market by Coat Type
10.2.6.3.2. Italy Market by Formulation
10.2.6.3.3. Italy Market by Vehicle Type
10.2.6.4. Russia market
10.2.6.4.1. Russia Market by Coat Type
10.2.6.4.2. Russia Market by Formulation
10.2.6.4.3. Russia Market by Vehicle Type
10.2.6.5. UK market
10.2.6.5.1. UK Market by Coat Type
10.2.6.5.2. UK Market by Formulation
10.2.6.5.3. UK Market by Vehicle Type
10.2.6.6. Rest of Europe market
10.2.6.6.1. Rest of Europe Market by Coat Type
10.2.6.6.2. Rest of Europe Market by Formulation
10.2.6.6.3. Rest of Europe Market by Vehicle Type
10.3. ASIA PACIFIC (APAC)
10.3.1. Asia Pacific Automotive Paint and Coatings Market Overview
10.3.2. Asia Pacific Automotive Paint and Coatings Market Forecasts and Analysis
10.3.3. Asia Pacific Market Forecasts and Analysis - By Coat Type
10.3.4. Asia Pacific Market Forecasts and Analysis - By Formulation
10.3.5. Asia Pacific Market Forecasts and Analysis - By Vehicle Type
10.3.6. Asia Pacific Market Forecasts and Analysis - By Countries
10.3.6.1. South Korea
10.3.6.1.1. South Korea Market by Coat Type
10.3.6.1.2. South Korea Market by Formulation
10.3.6.1.3. South Korea Market by Vehicle Type
10.3.6.2. China market
10.3.6.2.1. China Market by Coat Type
10.3.6.2.2. China Market by Formulation
10.3.6.2.3. China Market by Vehicle Type
10.3.6.3. India market
10.3.6.3.1. India Market by Coat Type
10.3.6.3.2. India Market by Formulation
10.3.6.3.3. India Market by Vehicle Type
10.3.6.4. Japan market
10.3.6.4.1. Japan Market by Coat Type
10.3.6.4.2. Japan Market by Formulation
10.3.6.4.3. India Market by Vehicle Type
10.3.6.5. Australia market
10.3.6.5.1. Australia Market by Coat Type
10.3.6.5.2. Australia Market by Formulation
10.3.6.5.3. Australia Market by Vehicle Type
10.3.6.6. Rest of APAC market
10.3.6.6.1. Rest of APAC Market by Coat Type
10.3.6.6.2. Rest of APAC Market by Formulation
10.3.6.6.3. Rest of APAC Market by Vehicle Type
10.4. MIDDLE EAST AND AFRICA (MEA)
10.4.1. Middle East and Africa Automotive Paint and Coatings Market Overview
10.4.2. Middle East and Africa Automotive Paint and Coatings Market Forecasts and Analysis
10.4.3. Middle East and Africa Market Forecasts and Analysis - By Coat Type
10.4.4. Middle East and Africa Market Forecasts and Analysis - By Formulation
10.4.5. Middle East and Africa Market Forecasts and Analysis - By Vehicle Type
10.4.6. Middle East and Africa Market Forecasts and Analysis - By Countries
10.4.6.1. South Africa market
10.4.6.1.1. South Africa Market by Coat Type
10.4.6.1.2. Rest of APAC Market by Formulation
10.4.6.1.3. Rest of APAC Market by Vehicle Type
10.4.6.2. Saudi Arabia market
10.4.6.2.1. Saudi Arabia Market by Coat Type
10.4.6.2.2. Saudi Arabia Market by Formulation
10.4.6.2.3. Saudi Arabia Market by Vehicle Type
10.4.6.3. UAE market
10.4.6.3.1. UAE Market by Coat Type
10.4.6.3.2. UAE Market by Formulation
10.4.6.3.3. UAE Market by Vehicle Type
10.4.6.4. Rest of MEA market
10.4.6.4.1. Rest of MEA Market by Coat Type
10.4.6.4.2. Rest of MEA Market by Formulation
10.4.6.4.3. Rest of MEA Market by Vehicle Type
10.5. SOUTH AMERICA (SAM)
10.5.1. South America Automotive Paint and Coatings Market Overview
10.5.2. South America Automotive Paint and Coatings Market Forecasts and Analysis
10.5.3. South America Market Forecasts and Analysis - By Coat Type
10.5.4. South America Market Forecasts and Analysis - By Formulation
10.5.5. South America Market Forecasts and Analysis - By Vehicle Type
10.5.6. South America Market Forecasts and Analysis - By Countries
10.5.6.1. Brazil market
10.5.6.1.1. Brazil Market by Coat Type
10.5.6.1.2. Brazil Market by Formulation
10.5.6.1.3. Brazil Market by Vehicle Type
10.5.6.2. Argentina market
10.5.6.2.1. Argentina Market by Coat Type
10.5.6.2.2. Argentina Market by Formulation
10.5.6.2.3. Argentina Market by Vehicle Type
10.5.6.3. Rest of SAM market
10.5.6.3.1. Rest of SAM Market by Coat Type
10.5.6.3.2. Rest of SAM Market by Formulation
10.5.6.3.3. Rest of SAM Market by Vehicle Type
11. INDUSTRY LANDSCAPE
11.1. MERGERS & ACQUISITIONS
11.2. MARKET INITIATIVES
11.3. NEW DEVELOPMENTS
12. AUTOMOTIVE PAINT AND COATINGS MARKET, KEY COMPANY PROFILES
12.1. AKZONOBEL N.V.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products & Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. ARKEMA GROUP
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products & Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. AXALTA COATING SYSTEMS
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products & Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. BASF SE
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products & Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. BECKERS GROUP
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products & Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. KANSAI PAINT CO. LTD.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products & Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. NIPPON PAINT HOLDINGS CO. LTD
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products & Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. PPG INDUSTRIES, INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products & Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SOLVAY S.A
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products & Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. THE VALSPAR CORP.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products & Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. AkzoNobel N.V.
2. Arkema Group
3. Axalta Coating Systems
4. BASF SE
5. Beckers Group
6. Kansai Paint Co. Ltd.
7. Nippon Paint Holdings Co. Ltd
8. PPG Industries, Inc.
9. Solvay S.A
10. The Valspar Corp.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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