Automotive Coatings Market Research Reports 2019-2026 Expected to Grow at a Healthy CAGR with 5% | Top players: BASF SE, PPG Industries, Bayer AG

Automotive Coatings Market Research Reports 2019-2026 Expected to Grow at a Healthy CAGR with 5% | Top players: BASF SE, PPG Industries, Bayer AG

The automotive coatings market can be segmented into various types based on different parameters. For instance, by technology the industry is segmented into waterborne, solvent borne and UV-cured, while based on product, it is categorized into primer, basecoat, clearcoat, and electrocoat.

Car coatings possess several beneficial characteristics including UV protection, color retention, and ease of use, among others.

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In the modern era, younger generations such as millennials are showing a rising propensity toward auto ownership. This, in turn, has created a shift in customer preference for enhanced aesthetics and attractive exteriors, as well as vehicle protection. One of the best ways to fulfill all these requirements is through the adoption of automotive coatings.

Automotive coating technologies are advanced components that provide durable surfaces, thereby optimizing efficiency, enhancing appearance and meeting ecological prerequisites. In essence, a car coating is a second layer added over the vehicle’s regular paint. Although they are derived from man-made materials, these materials are different from car waxes and paint sealants, and exhibit a much thinner viscosity, similar to water.

Rising inclination towards pre-owned vehicles will drive the automotive coatings market

Once a significantly stigmatized and frowned-upon endeavor, the pre-owned vehicle space has gained considerable appeal among younger generations in the present landscape. Many value-seeking individuals and families are rapidly turning to refurbished cars over newer vehicles to fulfil three main considerations, technology, resale value and safety reign. In fact, over 4 million pre-owned cars were bought and sold over the 2018-19 period, while just 3.6 million new car sales were registered over the same period.

This shift in preference towards refurbished cars is likely to add great impetus to the automotive coatings industry outlook. Rising inclination of customers towards customization and overall maintenance of their refurbished cars will significantly enhance the adoption of automotive coatings over the years.

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The automotive coatings market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026, for the following segments:

By Application

  • Metals
  • Plastic

By End-Use

  • Light vehicle OEM
  • Commercial OEM
  • Automotive Refinish

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