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By 2022, Automotive Coatings Market Size Is Driven by Its Rising Demand In Automotive Industry

Author : Ronak Bora | Published Date : 2019-08-09 

Asia Pacific automotive industry growth is the major driving factor for the rise in automotive coatings market. Recent infrastructural developments including road connectivity, coupled with growing PPP of emerging countries of East and South East Asia will have a positive impact on the market in the next few years. China controls over a quarter of the global automotive market, both in terms of demand as well as supply. 

Advancements in powder coating technology owing to the high volatile organic compound (VOC) content in solventborne coatings will also have a positive influence on the global automotive coatings market. Superior features of powder coatings include easy customization, high efficiency, durability, easy application, and minimum wastage. Increasing application of this technology in primer and basecoat for external body, engine and accessories, interior parts such as steering wheels, dashboard, ashtray, battery tray, luggage racks, etc. Will catalyze the global automotive coatings market in the next eight years. 

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EPA and REACH regulations pertaining to the VOC amount in solventborne coatings will hamper the automotive coatings market growth in North America and Europe. Powder, UV-cured, and waterborne coatings may, however, substitute solventborne coatings in these regions in the upcoming years. Global automotive coatings market will also be restrained due to fluctuating prices of the raw materials for the coatings production which includes titanium oxide, binders, pigments, additives, and resins.  

Solventborne automotive coatings market led the global share accounting to more than USD 7.9 billion in 2014. However, it is losing share to other technologies such as waterborne and powder coatings because of its high VOC content and strict environmental regulations imposed by EPA, REACH, and other regulatory bodies against it

Light weight oems are the largest end-user segment with more than 40% of the overall automotive coatings market share as light-weight personal cars are prevailing the global automotive market. It accounted for more than USD 7.5 billion in 2014 and is expected to have a healthy growth on the account of increasing personal cars demand.

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.

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.

Glimpse of Table of Content (ToC)

Chapter 3   Automotive Coatings Market Insights

3.1    Automotive Coatings Market segmentation

3.2    Automotive Coatings Market size and forecast, 2012 - 2022

3.3    Automotive Coatings Market Ecosystem analysis

3.3.1     Vendor matrix

3.4    Raw material trends

3.5    Technology trends

3.6    Regulatory trends

3.7    Industry impact forces

3.7.1     Growth drivers

3.7.1.1    Growing automotive industry in Asia Pacific

3.7.1.2    Growing demand for powder coatings

3.7.2     Industry pitfalls and challenges

3.7.2.1    Fluctuating raw material prices

3.8    Growth potential analysis

3.9    Porter’s analysis

3.10  Company market share analysis, 2014

3.11  PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-coatings-market-report

 

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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