Global automotive paints market is projected to grow a rapid pace with a formidable CAGR during the forecast period 2023-2027. The market growth can be accredited to the increasing vehicle production & sales globally on the account of growing purchasing power of the consumers demand for electric and hybrid vehicles, and people’s preference for safe, convenient, and comfortable mode of commuting. Automotive paints are the water-based formula of paints which are sprayed on the automobiles surface and protects the surface of the automobile from environmental damages along with enhancing the aesthetics of the motor vehicles. Besides, the introduction of efficient painting technologies and a gradual shift towards manufacturing paints and coatings that are non-toxic for the environment are acting as another growth-inducing factor. In addition, the adoption of eco-friendly paints is also adding to the market growth. Furthermore, several market players are introducing quality of automotive paints that can protect the vehicle from unwanted dirt, acidic rains, UV rays, corrosion, and oxidation.
The global automotive paints market is segmented on the basis of vehicle type, coat type, technology, texture type, competitive landscape, and regional distribution. Based on the vehicle type the market is bifurcated into passenger cars, light commercial vehicles and heavy commercial vehicles. By coat type the market is fragmented into base coat, primer coat, clear coat and electro coat. Based in the technology the market is divided among powder coatings, waterborne coatings and solvent borne coatings. Among these, the powder coatings segment is projected to propel the market over the coming years. This is primarily because powder coating is environmentally friendly as these paints do not utilize wet paints, therefore they don’t release harmful compounds into the environment. Moreover, this technique is cost-efficient and offer aesthetic finish to the vehicle. By texture the market is differentiated between solid texture and metallic texture.
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Some of the leading players in the Global automotive paints market are Berger Paints, BASF SE, PPG Industries Inc., Axalta Coatings System LLC, Valspar Corporation, Arkema SA, Solvay SA, Nippon Paint Holdings Co., Ltd, Kansai Paint Co. Ltd., Akzonobel N.V. etc.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Source · Form · Application |
| Regional scope | North America; Europe &CIS; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; France; Germany; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; UAE; Saudi Arabia; South Africa; Kuwait |
| Key companies profiled | Berger Paints, BASF SE, PPG Industries Inc., Axalta Coatings System LLC, Valspar Corporation, Arkema SA, Solvay SA, Nippon Paint Holdings Co., Ltd, Kansai Paint Co. Ltd., and Akzonobel N.V. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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