Automotive Coatings Market Size and Share

Pune, India, January 10, 2022 (GLOBE NEWSWIRE) –

The global automotive coatings market size is expected to show tremendous growth during the forecast period as automotive coatings will be widely used to protect vehicles against a wide range of external factors. An increasing number of people demand a wide color palette to improve the aesthetic appearance of their automobiles. In addition, the increasing use of chemical-free paints will drive the production of automotive coatings around the world.

The regional trends that will positively influence the outlook for the automotive coatings industry are explained below:

  • North America (regional valuation expected to reach $ 6 billion)

High utilization of electroplating process:

Electrocoat is expected to hold a significant share of Automotive Coatings Market in North America by 2027. It is a dip painting process commonly used by automobile manufacturers because it is able to paint a variety of complex parts with high uniformity. Electrocoat is known to spread paint evenly over a component, providing a clean look.

The demand for rapid coating methods in factories will play a key role in amplifying the deployment of electroplated coating technologies. Dip painting techniques are increasingly adopted in passenger and utility vehicles, which will further enhance the use of the electroplating process.

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Metal parts will widely use automotive coatings:

The regional automotive coatings of metal component applications market size will register a strong CAGR in the coming years. Automotive coatings are widely used on metal surfaces as they provide component protection against snow, moisture, UV rays, corrosion, moisture and rain. Manufacturers are focused on providing additional protection to vehicle surfaces, which will increase the use of automotive coatings on metal parts.

The presence of commercial equipment manufacturers stimulates the production of automotive coatings:

The presence of commercial OEMs is steadily increasing, and light trucks and other light commercial vehicles are widely used in the United States and Canada, which has helped the commercial vehicle industry to advance. These factors have boosted the production of automotive coatings to not only improve the appearance of the vehicle, but also provide high protection against external factors, such as dirt and dust.

  • Europe (regional valuation should exceed $ 5 billion)

Water-based automotive coating technologies are gaining momentum:

Water-based automotive coating technology is expected to capture a significant portion of the regional industry. The technology is gaining traction among end users because it does not use volatile organic compounds due to their harmful effects on the environment. Water-based automotive paints improve air quality, thereby stimulating their demand among vehicle manufacturers.

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The use of solvent-based automotive coatings is increasing:

Solvent-based automotive coatings will occupy a significant share of the regional market. Solvent-based coatings are widely used by vehicle manufacturers because they have a base like lacquer or enamel. Any automotive coating containing a solvent increases its durability and creates a uniform film. It also reduces the drying time of the paint, which will promote its adoption.

Car modification activities are experiencing a significant increase:

A large number of people are opting for car modification business as the region is experiencing an increase in the number of car enthusiasts. The increased per capita income of customers allowed them to splurge on expensive modifications, including changing the color of the car to elevate its appearance. In addition, the demand for simple and economical customization will drive the use of automotive coatings in the region.

  • Asia-Pacific (regional assessment over $ 17.2 billion)

Robust use of the basecoat process:

The basecoat process will capture a significant share of the regional automotive coatings market by 2027. Basecoat is the first color coat painted on the surface of a vehicle. Getting the right base coat is important because it plays a key role in improving the final appearance of the automobile.

Base coats are the subject of technological innovations, with more emphasis placed on water-based technologies than on solvent-based technologies. Water-based basecoats do not emit too much odor, which will propel their demand among end users.

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UV Cured Automotive Coatings Used To Promote Durability:

UV-cured automotive coatings will be used on a large scale by car manufacturers as the region experiences rapid urbanization. In addition, the per capita income of the population is increasing at a notable rate.

UV curing technology will be widely used in automotive coatings to reduce the carbon footprint of the paints and coatings industry and promote sustainability. Organizations are stepping up research and development to improve the effectiveness of UV-cured automotive paints, driving uptake.

About graphical research:

Graphical Research is a business research firm that provides industry information, market forecasts and strategic contributions through granular research reports and advisory services. We publish targeted research reports with the aim of meeting a variety of client needs, from market penetration and entry strategies to portfolio management and strategic perspectives. We understand that business requirements are unique: our syndication reports are designed to ensure relevance to industry participants throughout the value chain. We also provide custom reports tailored to exact client needs, with dedicated analyst support throughout the purchase lifecycle.


        


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