Automotive paints & coatings market is expected to perform flourishingly over the forthcoming years owing to the rapidly increasing demand for passenger vehicles across the globe. Subsequently, the rising production of passenger vehicles throughout a number of emerging economies is slated to foster the industry’s revenue generation prowess further.

The key players operating in the automotive paints & coatings market are Akzo Nobel N.V., BASF SE., Covestro, The Valspar Corporation, Axalta Coating Systems, KCC Corporation, Clariant AG., Dupont, Eastman, Nippon Paint Holdings, PPG Industries, Inc., Donglai Coating, Wanda refinish. These industry players are well-known for constantly focusing on the development of new products and taking multiple strategic initiatives to maintain their position in the overall business scape.

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Light commercial vehicles are primarily used for transferring goods and mass which is measured in tons to distinguish between heavy and light commercial vehicles. The light commercial vehicle is slated grow at a healthy 3.5% CAGR over the projected time.

These vehicles have a maximum mass of 3.5 to 7 tons. According to the OICA (International Organization of Motor Vehicle Manufacturers), light commercial vehicles are characterized as special vehicles, which are defined by gross vehicle weight. Introduction of strict regulations by several governments pertaining to rising global oil prices, increased penetration of downsized engines, and VOCs emission are expected to further propel the for automotive paints & coatings market size. 

The aftermarket segment will witness around 6% CAGR through the analysis timeframe. The constant moving of consumer focus towards more cost-effective products with improved quality as well as durability will fuel the demand for aftermarket sector over the projected period. Rising number of service centers and auto body shops for repairing automotive and refinishing services will further intensify product penetration.

Europe automotive paints & coatings market is anticipated to hold approximately 15% of the overall market share by the end of the forecast time period. Automotive sales and vehicle registration are increasing at a steady pace in the region due to improving regional economy, effectively underlining customer confidence.

The industry players in the region are constantly focusing on investing in the development of new and improved paints as well as coatings products to address escalating customer demands. These activities are further expected to outline the growth graph of the regional market.

The basecoat segment reportedly surpassed USD 1.5 billion valuation back in 2019. Over the past couple of years, apart from durability, quality, as well as engine specification, color and texture of automobiles is also squaring up to be an important factor that influences the buying-decisions of customers.

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Partial Chapter of the Table of Content

Chapter 1   Methodology and Scope

1.1    Automotive Paints & Coatings Market definition

1.2    Base estimation & working

1.2.1    North America

1.2.2    Europe

1.2.3    Asia Pacific

1.2.4    Latin America

1.2.5    Middle East & Africa

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Automotive Paints & Coatings Market Summary

2.1    Automotive paints & coatings industry 360⁰ synopsis, 2016 - 2026

2.1.1    Business trends

2.1.2    Vehicle trends

2.1.3    Coating type trends

2.1.4    Technology trends

2.1.5    Texture trends

2.1.6    Distribution channel trends

2.1.7    Raw material trends

Chapter 3   Automotive Paints & Coatings Market Insights

3.1    Industry segmentation

3.2    Industry ecosystem analysis

3.2.1    Raw material supplier

3.2.2    Manufacturers

3.2.3    Profit margin analysis

3.2.4    Distribution channel analysis

3.2.4.1    Aftermarket

3.2.4.2    E-commerce

3.2.5    End-users

3.2.6    Value chain disruptions due to COVID-19

3.2.7    Vendor matrix

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