The global automotive specialty coatings market is anticipated to grow at a CAGR of 11.1% during the forecast period (2023-2030). The automotive speciality coatings industry has evolved along with the automotive industry globally. The demand for automotive speciality coatings and advancements in coatings technology is influenced by the increase in vehicle production. An increase in the number of applications that required coating, and increasing sales of premium vehicles.
According to the American Chemical Council (ACC), in 2021, The automotive coatings industry employs thousands of workers around the globe. In 2021 in the US, it is estimated that 159 million pounds of polyurethane coatings were used by the automotive industry. This is comprised of approximately 67 million pounds by original equipment manufacturers (OEMs) and another 67 million pounds by the auto refinishing industry.
Browse the full report description of “Automotive Specialty Coatings Market Size, Share & Trends Analysis Report by Resin Type (Polyurethane, Epoxy, Acrylic, Polyester and Other), by Technology (Waterborne Coatings, Solvent-borne Coatings, Powder Coatings and UV-cured Coatings), by Application (Anticorrosion, Heat Protection, Liquid & Stain Repellents and Scratch Resistance), and by End-user(Passenger Vehicle and Commercial Vehicle), Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/automotive-specialty-coatings-market
Biomass balance approach, renewable raw materials are used as raw materials when manufacturing primary chemical products in the production site. For instance, in December 2022, BASF SE launched automotive coatings using renewable raw materials according to a certified biomass balance approach. The first batch of biomass balance ColorBrite® Airspace Blue ReSource basecoat was delivered to a customer in China. The product helps reduce around 20.0% product's carbon footprint
The tackle extreme weather conditions, the automotive aftermarket has always been on the search for the most durable coating for car owners. For instance, in November 2021, 3M India launched Ceramic Coating for the Indian automotive and paint industry. The product was launched to offer an improved solution to all issues related to exterior car surfaces. 3M Ceramic Coating provides a hydrophobic finish that makes it suitable for water beading, thus maintaining surface durability.
Some degree of incompatibility with the paint is important for levelling performance the levelling agent emits little VOC (Volatile Organic Compounds), that makes it attractive for high-solids formulations owing to its very low viscosity impact. For instance, in March 2023, Evonik launched a new TEGO® Flow 380 levelling agent for high-quality automotive clear coatings. Evonik's Coating Additives business line is expanding its TEGO® Flow series with an efficient polyacrylate-based levelling agent. TEGO® Flow 380 is suitable for solvent-borne coatings, especially clear coats.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Resin Type
o By Technology
o By Application
o By End Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF SE, PPG Industries, Inc., Sherwin-Williams, and others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Automotive Specialty Coatings Market Report Segment
By Resin Type
By Technology
By Application
By End Users
Global Automotive Specialty Coatings Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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