Automotive Paints: The market size, in terms of value, is projected to grow at a promising CAGR of 5.15% to reach $11,340.7 Million by 2020.

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Initially, engine specifications, serviceability, quality, and durability of the vehicle were the major factors considered by the buyer in the decision-making process for buying a vehicle. Presently, the color of the vehicle is one of the most important factors considered by a buyer while making a buying-decision regarding a vehicle. As the market for vehicles is growing world over, the global market for automotive paints is estimated to grow at a CAGR of 5.15% in terms of value. The key factors responsible for the growth in the automotive paints market are demand for low-carbon footprint technologies, buyer preference, and growing stringency of regulations & norms regarding paints.

Owing to the favorable macro factors such as cheaper labor, largest vehicle production, government support for manufacturing industry, and the large local market, Asia-Oceania is estimated to be the largest paints market in terms of market value. It comprises countries such as China, India, Japan, and South Korea where majority of the production is concentrated. Global OEMs have established their production bases in China owing to the attractiveness of the domestic market and low cost of production. Asia-Oceania is estimated to be followed by North America where waterborne paints are preferred over solvent-borne paints. The increasing demand for low or no volatile organic compounds and the stringent paint regulations & norms are expected to drive the market for waterborne and powder coatings.

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In context with coat types, paints market in the clearcoat segment accounts for the maximum share followed by primer, electrocoat, and basecoat. Coats are now being merged together to form three coats instead of four. Either the basecoat is merged with clearcoat to form a single clearcoat or vice versa. Many Tier-I and OEMs are coming up with new and innovative coating technologies that are soon gaining value in the market because of its cost savings and less wastages along with supreme quality and durability.

The paints market for metallic paints will see a steady growth in the coming years as the demand for metallic finish is on a steady rise given the attractive glossy finish offered by these paints. In developed regions such as Europe and North America, metallic paints are used widely even for heavy commercial vehicles along with passenger cars and light commercial vehicles; whereas, in the Asia-Oceania region, solid paints are preferred as heavy commercial paints.

The global paints market is dominated by many international as well as local players; some of them being PPG Industries, Inc. (U.S.), Axalta Coating Systems LLC (U.S.), Kansai Paint Co. Ltd. (Japan), Arkema SA (France), BASF SE (Germany), and Nippon Paint Holdings Co. Ltd. (Japan).

Scope of the Report

The global automotive paints market is analyzed in terms of volume (million gallons) and value ($million) for the below-mentioned segments.

By Region
Asia-Oceania
North America
Europe
Rest of the World (RoW)
By Technology
Solvent-borne
Waterborne
Powder Coating
By Coat Type
Electrocoat
Primer
Basecoat
Clearcoat
By Texture
Solid
Metallic
By Content


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