+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Global Automotive Coatings Market, Forecast to 2026

  • ID: 5090347
  • Report
  • May 2020
  • Region: Global
  • 161 Pages
  • Frost & Sullivan
1 of 2

Enquire about COVID-19 updates for this product.

Enquire Now
Rapid Motorization and Robust Passenger Car Production in Asia-Pacific Drive Market Growth

The automotive coatings market is bifurcated into OEM and refinish applications. The OEM market is further divided by product type into e-coat, primer, basecoat, and clearcoat, by technology type into solvent-borne, water-borne, and powder coatings, and by chemistry type into polyurethane (PU), epoxy, polyester, and acrylic. The refinish segment is further divided by product type into undercoat, basecoat, clearcoat, and thinners/hardeners, by technology type into solvent-borne and water-borne coatings, and by chemistry type into polyurethane (PU), epoxy, polyester, and acrylic.

The market for automotive coatings used in OEM applications contributed to the largest share in the automotive coatings market in 2019 and is slated to register higher growth compared to refinish applications during the forecast period, underpinned by increasing passenger car production, especially in Asia-Pacific countries such as China, India, Japan, and South Korea. However, the ongoing global economic slowdown, coupled with the rising incidence of coronavirus infections is expected to hamper the automotive OEM coatings market globally during the short and medium terms of the forecast period. Within the OEM segment, by product type, the clearcoat market accounted for the largest volume share in 2019, primarily due to its high demand for improving the aesthetic appearance and enhancing the durability of the coating system.

Moreover, by chemistry type, acrylic is expected to remain the largest market in the automotive OEM coatings industry throughout the forecast period, owing to its excellent crosslinking features compared to other resins. The market for automotive refinish coatings in developed countries of North America and Europe is slated to register negative volume growth during the forecast period. The rate of accidents has been declining in these regions, owing to improved traffic management systems and advancement in car safety features. This, in turn is expected to reduce collision repair rates and hampers the subsequent consumption volume of automotive coatings in the refinish market. Within the refinish segment, by product type, the basecoat market accounted for the largest revenue share in 2019, mainly due to the increasing consumption of higher-priced and quality-intensive water-borne basecoat systems worldwide. Moreover, by chemistry type, PU is the most preferred choice of resin for refinish applications, due to its excellent pigment wetting, color matching, and color retention properties.

For both OEM and refinish applications, water-borne coatings are expected to grow at the fastest rate, primarily due to increasingly stringent government regulations worldwide against the use of coatings with high VOC content.

Asia-Pacific accounted for the largest volume share in the automotive coatings market, for both OEM and refinish applications in 2019 and is expected to continue its dominance during the forecast period. Increasing urbanization and demographic growth, coupled with robust automotive vehicle production and increasing road traffic are largely responsible for driving the demand for automotive coatings in the region.

The market for automotive coatings in North America and Europe is already in a mature stage. However, increasing demand for environmentally sustainable and value-added coating products in these regions is expected to boost revenue growth, for both OEM and refinish applications, in these regions.

A majority of the demand for automotive coatings in the Middle East and ROW is from Turkey, Russia, Brazil, Argentina, Mexico, Morocco, South Africa, Algeria, Iran, Saudi Arabia, United Arab Emirates, and Bahrain. The increasing demand for technologically advanced products is expected to create a higher demand for both OEM and refinish automotive coatings in these countries.

Regulatory authorities, such as the US Environmental Protection Agency (EPA), the Canadian Council of Ministers of the Environment (CCME), the European Parliament (EP), and the Chinese Ministry of Ecology and Environment (MEE), enforce regulations against emission of volatile organic compounds (VOC) from automotive coatings. Chemicals with low VOC content are increasingly being selected by automotive coating manufacturers based on the need to adhere to these standards.

Owing to the complexity of production process and severity of application areas, the market for a majority of the automotive coatings is highly consolidated with strong presence of branded companies having excellent manufacturing expertise. Rather than developing alternate chemistries, coating manufacturers are more focused on improving the performance characteristics of existing formulations, with the ultimate goal of improving the color, finish, and aesthetics based on specific requirements of customers worldwide. These factors, in turn, help companies develop value-added coatings with advanced features, such as shorter curing times and faster application process. Moreover, leading companies are set to strengthen their market share by vertical integration, partnerships, or mergers & acquisitions (M&A) and improving customer collaboration.

Note: Product cover images may vary from those shown
2 of 2

1. Executive Summary

  • Executive Summary - Key Findings
  • Executive Summary - Strategic Factsheet
  • Market Engineering Measurements
  • CEO’s Perspective

2. Market Overview

  • Market Definitions
  • Geographic Scope
  • Key Questions This Study Will Answer

3. Forecast and Trends - Total Automotive Coatings Market

  • Market Engineering Measurements
  • Forecast Assumptions
  • Revenue Forecast
  • Unit Shipment Forecast
  • Unit Shipment and Revenue Forecast Discussion
  • Pricing Trends and Forecast
  • Pricing Trends and Forecast Discussion
  • Percent Revenue Forecast by Application Type
  • Revenue Forecast by Application Type
  • Percent Unit Shipment Forecast by Application Type
  • Unit Shipment Forecast by Application Type
  • Unit Shipment and Revenue Forecast Discussion by Application Type
  • Percent Revenue Forecast by Region
  • Revenue Forecast by Region
  • Percent Unit Shipment Forecast by Region
  • Unit Shipment Forecast by Region
  • Unit Shipment and Revenue Forecast Discussion by Region

4. Dynamic Strength, Weakness, Opportunity, Threat (SWOT) Analysis and Noteworthy Standards and Regulations

  • Dynamic SWOT Analysis
  • Key Regulations

5. Key Trends - Technology and Product

  • Technology and Product Trends

6. Value Chain and Market Share Analysis

  • Value Chain - Automotive OEM Coatings Market
  • Value Chain - Automotive Refinish Coatings Market
  • Key Value Chain Takeaways for Both Automotive OEM and Refinish Coatings Markets
  • Indicative List of Market Participants
  • Market Share
  • Competitive Environment
  • Competitive Factors and Assessment

7. Growth Opportunities and Companies to Action

  • Growth Opportunity 1 - Increasing Passenger Car Production and Road Traffic in Developing Countries
  • Growth Opportunity 2 - Demand for Higher - quality Automotive Coatings in the Developed World
  • Strategic Imperatives for Success and Growth

8. Vertical Market Analysis - Automotive OEM Coatings Market

  • Key Findings
  • Market Engineering Measurements

9. Drivers and Restraints - Automotive OEM Coatings Market

  • Market Drivers
  • Drivers Explained
  • Market Restraints
  • Restraints Explained
  • Graphical Summary of the Drivers and Restraints
  • Unit Shipment and Revenue Forecast
  • Unit Shipment and Revenue Forecast Discussion
  • Pricing Trends and Forecast
  • Pricing Trends and Forecast Discussion
  • Percent Revenue Forecast by Region
  • Revenue Forecast by Region
  • Percent Unit Shipment Forecast by Region
  • Unit Shipment Forecast by Region
  • Unit Shipment and Revenue Forecast Discussion by Region
  • Percent Revenue Forecast by Product Type
  • Revenue Forecast by Product Type
  • Percent Unit Shipment Forecast by Product Type
  • Unit Shipment Forecast by Product Type
  • Unit Shipment and Revenue Forecast Discussion by Product Type
  • Percent Revenue Forecast by Technology Type
  • Revenue Forecast by Technology Type
  • Percent Unit Shipment Forecast by Technology Type
  • Unit Shipment Forecast by Technology Type
  • Unit Shipment and Revenue Forecast Discussion by Technology Type
  • Percent Revenue Forecast by Chemistry Type
  • Revenue Forecast by Chemistry Type
  • Percent Unit Shipment Forecast by Chemistry Type
  • Unit Shipment Forecast by Chemistry Type
  • Unit Shipment and Revenue Forecast Discussion by Chemistry Type
  • Market Share
  • Competitive Environment
  • Vertical Market Analysis - Automotive Refinish Coatings Market
  • Key Findings
  • Market Engineering Measurements
  • Drivers and Restraints - Automotive Refinish Coatings Market
  • Market Drivers
  • Drivers Explained
  • Market Restraints
  • Restraints Explained
  • Summary of the Drivers and Restraints
  • Unit Shipment and Revenue Forecast
  • Unit Shipment and Revenue Forecast Discussion
  • Pricing Trends and Forecast
  • Pricing Trends and Forecast Discussion
  • Percent Revenue Forecast by Region
  • Revenue Forecast by Region
  • Percent Unit Shipment Forecast by Region
  • Unit Shipment Forecast by Region
  • Unit Shipment and Revenue Forecast Discussion by Region
  • Percent Revenue Forecast by Product Type
  • Revenue Forecast by Product Type
  • Percent Unit Shipment Forecast by Product Type
  • Unit Shipment Forecast by Product Type
  • Unit Shipment and Revenue Forecast Discussion by Product Type
  • Percent Revenue Forecast by Technology Type
  • Revenue Forecast by Technology Type
  • Percent Unit Shipment Forecast by Technology Type
  • Unit Shipment Forecast by Technology Type
  • Unit Shipment and Revenue Forecast Discussion by Technology Type
  • Percent Revenue Forecast by Chemistry Type
  • Revenue Forecast by Chemistry Type
  • Percent Unit Shipment Forecast by Chemistry Type
  • Unit Shipment Forecast by Chemistry Type
  • Unit Shipment and Revenue Forecast Discussion by Chemistry Type
  • Market Share
  • Competitive Environment

10. The Last Word

  • The Last Word - 3 Big Predictions
  • Legal Disclaimer

11. Appendix

  • Market Engineering Methodology
  • Abbreviations and Acronyms Used
  • List of Exhibits
Note: Product cover images may vary from those shown
3 of 2

Loading
LOADING...

Adroll
adroll