Automotive Coatings Market Demand, Recent Trends and Developments Analysis 2024
Category: #reports  By Rahul Sankrityayan  Date: 2020-04-27
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Automotive Coatings Market Demand, Recent Trends and Developments Analysis 2024

Solventborne automotive coatings market size predicted to experience sluggish growth due to strict norms over VOC emission in the atmosphere. The waterborne segment is tipped to exhibit high gains at above 5% in the next few years. The growth is attributed to factors like low flammability, air emission reduction, and less toxicity.

Growing consumer preference to enhance the aesthetic appeal and durability is expected to drive the demand. Moreover, growing demand to protect the vehicle from acid rain, UV radiation, foreign particles and extreme temperature conditions is likely to further the market size. Vehicle manufacturers are now focusing on producing aesthetically appealing vehicles. This further boosts the industry growth.

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Top Companies

  1. Axalta Coatings Systems LLC
  2. BASF SE
  3. PPG Industries
  4. Kansai Paint Co. Ltd.
  5. Nippon Paint Holdings Co. Ltd.
  6. Bayer AG
  7. KCC Corporation
  8. The Valspar Corporation
  9. AkzoNobel N.V.
  10. The Sherwin-Williams Company
  11. Arkema SA
  12. Becker Industrial Coatings Ltd.
  13. Berger Paints India Limited
  14. Cabot Corporation
  15. Clariant
  16. Eastman Chemical Company
  17. Jotun
  18. Lord Corporation
  19. DSM
  20. Solvay S.A.

Growth Drivers

  1. Growing automotive industry in Asia Pacific
  2. Increasing waterborne coatings demand in Europe

Metal applications dominated the sector and are likely to continue the trend. Plastic based automotive coatings segment is expected to register noteworthy growth rate. Increasing demand for lightweight vehicle production to lower emissions and improve fuel efficiency is anticipated to impact the demand positively.

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Light vehicle automotive OEM coatings market size is anticipated to experience significant growth shortly. The increase is attributed to the increasing demand for a vehicle with cutting-edge features including pre-collision technology, automatic light, and GPS tracking. Automotive refinish market segment is poised to witness high growth rates at over 4.5% during the predicted time frame.

The report features the competitive landscape of the automotive coatings market. Key trends, company profiles, business strategies, finance metrics are listed in the report with market evaluation and forecasts. Major participants in the consolidated market include PPG Industries, BASF, Nippon Paint, Axalta Coating Systems, AkzoNobel, and Kansai Paints.

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Sherwin-Williams, Berger Paints, KCC Paint, Arkema SA, Valspar Corporation, Beckers Group, Cabot Corporation, Clariant AG, Eastman Chemical Company, Lord Corporation, Solvay SA and DSM are other prominent names in the industry. BASF is expanding automotive coating production in Thailand.

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About Author

Rahul Sankrityayan

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Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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