GreyViews predicts that the Automotive Specialty Coatings Market could grow from USD 8.25 Billon in 2022, to USD 14.93 Billon by 2030.

Automotive Specialty Coatings Market by Product (Primer. Electrocoat. Basecoat. and Clearcoat), By Technology. (Waterborne Coatings. Solventborne Coatings. Powder Coatings. and UV-cured Coatings). By Application. (Metal Parts. and Plastic Parts). By End-use. (Light Vehicle OEM. Commercial Vehicle OEM. and Automotive Refinish). Segmentation. Forecast till 2030.

Pune India, Jan. 02, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the top regions in which the market is strongest. Automotive Specialty Coatings Market The company is in operation at the moment and is expected to grow in the near future. Manufacturers and suppliers are involved in the Automotive Specialty Coatings Market They are found in many countries within the mentioned regions.

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This report gives a comprehensive understanding of market segments that have been created by combining prospects such as Product, Technology and Application. In the following paragraphs are discussed the key drivers, limitations, growth opportunities, and market challenges.

The major players in the global Automotive Specialty Coatings market PPG Industries, Inc, BASF SE, Axalta Coating System, Akzo Nobel N.V, The Sherwin-Williams Company, Solvay S.A, The Dow Chemical Company, Nippon Paint Holdings Co., Ltd, Clariant, Hexion Inc, among others. Manufacturers are looking to expand their market share and market share in the Automotive Specialty Coatings Market worldwide. They pursue expansion strategies such as mergers and acquisitions.

Automotive specialty coatings’ market expansion is largely driven by the rising demand for high-performance, reliable automobiles. Automotive production will grow as more people want to buy these new cars. Industry progress will be impeded by rising tendencies to reduce engine size and increased beverage sales. Between 2022 and 2030, strict regulations regarding volatile organic compound (VOC), are likely to pose problems for the automotive specialty coatings market. The market’s potential growth will be driven by the rise of investments and the rising disposable income. The many benefits of automotive specialty coatings, including strong adhesive properties and improved corrosion protection, substrate compatibility, fire resistance and temporary protection, sealing, as well as their many benefits, are making them more popular. This has an impact on market. Growth could be threatened by the volatility in titanium dioxide’s price, which is one of the most commonly used raw minerals. Enterprises may have a difficult time finding raw materials over the expected time. Metals account for more than 85% of passenger car materials. Nearly every metal is coated to resist rust or degradation.

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Automotive Specialty Coatings Market Report

Segmentation Analysis

In 2022, Basecoat is expected to be one of the fastest-growing segments. 

Clearcoat, Electrocoat and Basecoat are all part of the Product segment. These coatings provide automobiles with the required colour and outside appearance. Expect a significant increase in demand for these coatings over the next few years.

In 2022, Solventborne Coatings will be the fastest-growing segment. 

Technology includes Waterborne Coatings and Solventborne Coatings as well as Powder Coatings and UV-cured Coatings. Consumer demand will be limited by strict regulations that limit the emissions of hazardous air pollutants such as toluene and xylene and methyl ethyl ketones and other volatile organic compounds. Further development would be difficult due to the high toxicity and flammability of these chemicals.

Metal Parts will likely be the fastest-growing sector in 2022. 

The Application segment includes both Metal Parts as well as Plastic Parts. Market growth is expected to be positive due to the increasing use of metals for automobile production. Glazing on metal surfaces would be limited due to the volatility in metal prices and the rise of lightweight materials.

In 2022, Light Vehicle OEM will be the fastest-growing segment. 

End-use includes Light Vehicle OEM (commercial vehicle OEM), and Automotive Refinish. The increased demand for passenger cars from developing countries such as India, Brazil and China, Singapore, Thailand, and Singapore is expected to lead to significant growth. Population growth, rapid urbanization, and higher per capita income will all contribute to the expansion of this market.

Regional Analysis           

The country and key regions are analyzed in detail. The key countries that were analyzed for Automotive Specialty Coatings are the United States, Canada, Mexico and France.

Majority of this was recorded in the Asia Pacific region. The Asia Pacific region saw a significant share. This is due to the growing demand for vehicles and the increasing manufacturing capacity in the region. Some of the Asia Pacific countries that are experiencing a boom in car manufacturing and sales include South Korea, India, Thailand, Thailand, Japan and South Korea. China’s large vehicle production base will drive significant growth.

      Country Analysis

Germany’s Automotive Specialty Coatings market size was valued at USD 0.43 billion in 2022 and is expected to reach USD 1.31 billion by 2030, at a CAGR of 15% from 2023 to 2030. Market growth is likely to be fueled by the growing demand for automobiles that offer greater comfort, safety and convenience, especially in developing and advanced countries. Market expansion is likely to be supported by the rising demand for luxury and top-end vehicles, as well as expanding use of autonomous vehicle technologies.

China’s Automotive Specialty Coatings’ market size was valued at USD 0.48 billion in 2022 and is expected to reach USD 1.68 billion by 2030, at a CAGR of 17% from 2023 to 2030.
China’s large vehicle production base will drive significant growth. China was the most prolific manufacturer of automobiles worldwide due to its abundance of economic labour. It is expected that it will continue to be the leader in this sector.

India’s Automotive Specialty Coatings Market was worth USD 0.37 billion in 2022. It is projected to grow at a CAGR 13% between 2023 and 2030. Over the forecast period, the demand for automotive specialty coatings will rise with increasing urbanization, disposable income, nuclear families, and rising urbanisation.

Covid-19’s Impact
Covid-19 had a significant impact on nearly all industries such as electronics and semiconductors, automotive manufacturing, etc. However, many technology companies have seen an increase in revenue because of significant consumer preferences for technological services. The pandemic has also led to significant technology growth in both developed and developing countries.

Additionally, the global increase in automobile production is driving this market.

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Get in touch

Rocky Shah
GreyViews
Pune India
Phone: (+44) 162-237-1047
Email: [email protected]
Web: https://greyviews.com/
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