GLOBAL AUTOMOTIVE PAINTS & COATINGS MARKET FORECAST 2019-2027
• The global automotive paints and coatings market is projected to grow from $XX billion in 2018 to $XX billion by 2027, growing at a CAGR of 3.58% during the forecast period. • The base year considered for the market study is 2018 and the forecasting years are from 2019 to 2027. • The risen eco-friendly paints and coating requirement in the various industries is the prime factor responsible for the growth of the market across the globe. • Furthermore, these automotive paints and coatings are not only used to enhance the appearance or for the purpose of beautification of vehicles, but also used as a preventive measure or protection layer for vehicles. • These benefits are also responsible for the increasing demand of the market during the forecast period.
• The automotive paints and coatings market is segmented on the basis of technology, coat type, vehicle type and geography. • On the basis of coat type, the automotive paints and coatings market is segmented into base coat, electrocoat, clear coat and primer. • The automotive paints and coatings market by vehicle type is further segmented into passenger cars, light commercial vehicles and heavy commercial vehicles. • The varied technology equipped in the market are solvent-borne, water-borne and others. The increasing demand for eco-friendly paints and coatings from the automotive industry and the booming automobile industry are major driving factors for the growth of the automotive paints and coatings market. • On the contrary, stringent regulations and policies by the government, environmental issues like VOC and CO2 emissions are restraining the growth of the market.
The global automotive paints and coatings market is projected to grow from $XX billion in 2018 to $XX billion by 2027, growing at a CAGR of 3.58% during the forecast period.
North America's automotive paints and coatings market revenue are expected to reach $xx billion in the year 2018 and are anticipated to touch $xx billion in the year 2027, at the CAGR of 3.00%.
Europe’s automotive paints and coatings market revenue are expected to grow $XX billion in the year 2019 and are anticipated to touch $XX billion in the year 2027, at a CAGR of 3.06%.
Asia Pacific’s automotive paints and coatings mark et revenue are expected to reach $xx billion in the year 2019 and are expected to touch $XX billion in the year 2027, at a CAGR of 4.18%.
The leading market players in the automotive paints and coatings market are Axalta Coating Systems, AkzoNobel, Basf Se, Covestro, Dowdupont Inc., Fortech Products Inc., Kansai Paint Co. Ltd., KCC Corporation, Nippon Paint Holdings Ltd, PPG Industries, Inc., Rpm International, Solvay Group, The Sherwin Williams Company and Valspar Corporation.