Global Automotive Speciality Coatings Market, By Application (Engine & Exhaust, Interior, Transmission, Wheel Rims), Type (Solvent- Borne, Waterborne, Powder Coatings), Resin Type (Polyurethane, Epoxy, Acrylic), Substrate (Metal, Plastic), Electric & Hybrid Vehicle Type (HEV, PHEV, BEV), Vehicle Type (Passenger Car, LCV, HCV), End-Use (Commercial OEM, Automotive Refinish, Light Vehicle OEM) – Industry Trends and Forecast to 2030.
Automotive Speciality Coatings Market Analysis and Size
The global car sales figure in 2022 grew to an estimated 66.1 million in 2022. Though there was an economic slowdown at a global level, the figure is projected to go past 70 million in 2023. Advancements in the automobile exterior models and interior components will result in positively impacting subsequent and related markets. One such market is automotive speciality coatings market. The manufacturers of automotive speciality coatings are aggressively expanding their businesses to meet the growing demand from the automotive industry.
Data Bridge Market Research analyses that the automotive speciality coatings market, valued at USD 3.55 billion in 2022, will reach USD 4.63 billion by 2030, growing at a CAGR of 3.37% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Automotive Speciality Coatings Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Engine & Exhaust, Interior, Transmission, Wheel Rims), Type (Solvent- Borne, Waterborne, Powder Coatings), Resin Type (Polyurethane, Epoxy, Acrylic), Substrate (Metal, Plastic), Electric & Hybrid Vehicle Type (HEV, PHEV, BEV), Vehicle Type (Passenger Car, LCV, HCV), End-Use (Commercial OEM, Automotive Refinish, Light Vehicle OEM)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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AkzoNobel N.V. (Netherlands), PPG Industries Inc., (U.S.), The Sherwin-Williams Company (U.S.), RPM International Inc. (U.S.), NIPSEA GROUP (Singapore), Arkema (France), Cardolite Corporation (U.S.), BASF SE (Germany), Evonik Industries AG (Germany), Reichhold LLC (U.S.), DSM (Netherlands), Qualipoly Chemical Corp. (Taiwan), Arakawa Chemical Industries,Ltd. (Japan), Eternal Materials Co.,Ltd. (Taiwan), Wacker Chemie AG (Japan), and DIC CORPORATION (Japan)
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Market Opportunities
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Market Definition
Automotive speciality coatings refers to the coating materials used on the exterior and interior of automotive vehicles to protect the surface against dust, rain, and harmful chemicals. In the interiors, the automotive speciality coatings provide are used over components and systems such as suspension system, break system, wheel system, and others. Automotive speciality coatings offer more than just protection. They improve the aesthetic appearance of the vehicle/model.
Automotive Speciality Coatings Market Dynamics
Drivers
- Growing number of vehicles on the road will bolster the market growth
The demand for automotive speciality coatings is directly proportional production of vehicles/ automobiles, especially two-wheelers and passenger cars. This indicates that the rise in the manufacturing rate of automobiles will positively impact the market for automotive speciality coatings. Further, going vehicle interior applications and rising demand for automated manual transmission will further bolster the demand for speciality coatings from the automotive industry.
- Increased demand for premium vehicles will drive the growth
Rising personal disposable income of citizens of developing economies, such as India, China, Brazil and more, is directly influencing the demand for premium and luxurious vehicles. The needs to attain a good social status among friends, family, and public has induced the demand for socially acceptable premium vehicles. In addition, growing tastes and preferences for colours, textures, and aesthetically appealing designs will further widen the scope of growth for the market.
Opportunities
- Rising awareness about sustainable metal coatings is a major driver
Growth and expansion of the automotive industry has presented an excellent opportunity for the automotive coatings market to propel during the forecast period. Rising awareness in the automotive industry pertaining to the availability and benefits of sustainable automotive speciality coatings is a positive sign for the market. Rising trend of adopting sustainable and economical products that offer better longevity and durability will emerge as a lucrative market opportunity.
Restraints/Challenges
- High costs will derail the market growth rate
Fluctuations in the prices of raw materials in combination will create hindrances for the growth of the market. Volatility in the prices of importing and exporting components, parts, and raw materials will further derail the growth of the market. Conclusively, rising final costs of automobiles goes out of budget for middle class families, thereby indirectly acting as a market restraint.
This automotive speciality coatings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive speciality coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Speciality Coatings Market Scope
The automotive speciality coatings market is segmented on the basis of application, type, resin type, substrate, electric & hybrid vehicle type, vehicle type, and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Engine & Exhaust
- Interior
- Transmission
- Wheel Rims
Type
- Solvent- Borne
- Waterborne
- Powder Coatings
Resin Type
- Polyurethane
- Epoxy
- Acrylic
Substrate
- Metal
- Plastic
Electric & Hybrid Vehicle Type
- HEV
- PHEV
- BEV
Vehicle Type
- Passenger Car
- LCV
- HCV
End-use
- Commercial OEM
- Automotive Refinish
- Light Vehicle OEM
Automotive Speciality Coatings Market Regional Analysis/Insights
The automotive speciality coatings market is analyzed and market size insights and trends are provided by country, application, type, resin type, substrate, electric & hybrid vehicle type, vehicle type, and end-use as referenced above.
The countries covered in the automotive speciality coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the automotive speciality coatings market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are the presence of major players, large scale presence of automotive industry in the region, and growing purchasing power of the people.
North America will register the highest growth rate during this forecast period owing to the growing industrialization, rising focus of the major players to expand their manufacturing base in this region, and growing demand for premium vehicles.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Speciality Coatings Market Share Analysis
The automotive speciality coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive speciality coatings market.
Some of the major players operating in the automotive speciality coatings market are:
- AkzoNobel N.V. (Netherlands)
- PPG Industries Inc., (U.S.)
- The Sherwin-Williams Company (U.S.)
- RPM International Inc. (U.S.)
- NIPSEA GROUP (Singapore)
- Arkema (France)
- Cardolite Corporation (U.S.)
- BASF SE (Germany)
- Evonik Industries AG (Germany)
- Reichhold LLC (U.S.)
- DSM (Netherlands)
- Qualipoly Chemical Corp. (Taiwan)
- Arakawa Chemical Industries,Ltd. (Japan)
- Eternal Materials Co.,Ltd. (Taiwan)
- Wacker Chemie AG (Japan)
- DIC CORPORATION (Japan)
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