Automotive paints are used for decoration as well as protection of automobiles. The positive outlook of the automotive industry is garnering the demand for automotive paints in the forecast period. The introduction of water-based paints that have a low environmental impact is the emerging trend in the industry. Economic growth and technological advancements in the industry are expected to drive consumer inclination towards the use of eco-friendly paints over the coming years.
MARKET DYNAMICS
The automotive paints market is anticipated to grow in the forecast period owing to driving factors such as developments in the field of eco-friendly paints and increasing environmental concerns. The growth of the refinish market is further expected to fuel market growth. Nevertheless, innovations in paint technology offer lucrative growth opportunities for the players operating in the automotive paints market during the forecast period.
MARKET SCOPE
The "Global Automotive Paints Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of automotive paints market with detailed market segmentation by technology, texture, vehicle type, and geography. The global automotive paints market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive paints market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global automotive paints market is segmented on the basis of technology, texture, and vehicle type. Based on technology, the market is segmented as waterborne, solvent-borne, and powder coating. On the basis of the texture, the market is segmented as metallic, matte finish, solar reflective, solid, and pearlescent. The market on the basis of the vehicle type is classified as passenger cars, light commercial vehicles, and heavy commercial vehicles.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global automotive paints market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The automotive paints market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting automotive paints market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the automotive paints market in these regions.
MARKET PLAYERS
The reports cover key developments in the automotive paints market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from automotive paints market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive paints in the global market. Below mentioned is the list of few companies engaged in the automotive paints market.
The report also includes the profiles of key automotive paints companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- 3M Co
- Akzo Nobel N.V.
- Axalta Coating Systems, LLC
- BASF SE
- Covestro AG
- Kansai Paint Co., Ltd.
- NIPSEA GROUP (Nippon Paint)
- Sherwin-Williams Co
- Solvay
- The PPG Asian Paints Company
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.