GLOBAL AUTOMOTIVE PAINT MARKET SIZE STUDY, BY PAINT TYPE (ELECTROCOAT, PRIMER, BASECOAT, CLEARCOAT), BY TECHNOLOGY (SOLVENT-BORNE, WATERBORNE, POWDER COATING), BY RESIN TYPE (POLYURETHANE, EPOXY, ACRYLIC), TEXTURE (SOLID TEXTURE, METALLIC TEXTURE, MATTE FINISH PAINTS, PEARLESCENT PAINTS, SOLAR REFLECTIVE PAINTS ), BY VEHICLE TYPE (PASSENGER CAR, LIGHT COMMERCIAL VEHICLE, TRUCKS, BUSES), BY CONTENT (ELECTROCOAT, SOLVENT-BORNE PAINTS, WATERBORNE PAINTS) AND REGIONAL FORECASTS 2020-2027
As per a new research report, the opportunity in the global automotive paint market is expected to rise at a CAGR of 2.88% over the period from 2020 to 2027. The report, titled "Global Automotive Paint Market Size study, by Paint Type (Electrocoat, Primer, Basecoat, Clearcoat), by Technology (Solvent-Borne, Waterborne, Powder Coating), by Resin Type (Polyurethane, Epoxy, Acrylic), Texture (Solid Texture, Metallic Texture, Matte Finish Paints, Pearlescent Paints, Solar Reflective Paints ), by Vehicle Type (Passenger Car, Light Commercial Vehicle, Trucks, Buses), by Content (Solvent-Borne Paints, Waterborne Paints) and Regional Forecasts 2020-2027," is recently added to the repository of
With a number of active players, the global automotive paint market demonstrates a fragmented and highly competitive landscape. The key players, including
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Soaring Demand for Automobiles Supports Global Automotive Paint Market
In 2019, the worldwide automotive paint market stood at
The trends in automotive market impact the global automotive paints market directly. At present, automobile manufacturers are focusing on using eco-friendly and green components. Environmental concerns and stringent emission regulations and has encouraged paint manufacturers to produce eco-friendly automotive paints, which is expected to boost the demand by twofold in the near future.
On the flip side, the rise in raw material prices may hamper the growth in the worldwide automotive paint market over the next few years. However, the market is anticipated to gain balance soon due to the increasing emphasis on producing cost-efficient automotive paints, states the research report.
Impact of COVID 19 on Global Automotive Paint Market
One of the severely impacted markets from the Coronavirus pandemic is the global automotive industry. With the production of automobiles being stopped completely, the demand for components, including automotive paints, also decreased to a great extent. However, now as the production has resumed, the global automotive paint market is projected to gain its momentum in the near future.
Among all the regions,
Key Findings: *The demand for electrocoat paints will continue to remain higher than other automotive paints. *Passenger cars will emerge as the key end user of automotive paints. *
The global automotive paint market is segmented into:
By Paint Type *Electrocoat *Primer *Basecoat *Clearcoat
By Technology *Solvent-Borne *Waterborne *Powder Coating
By Resin Type *Polyurethane *Epoxy *Acrylic *Other Resins
By Texture *Solid Texture *Metallic Texture *Matte Finish Paints *Pearlescent Paints *Solar Reflective Paints
By Vehicle Type *Passenger Car *Light Commercial Vehicle *Trucks *Buses
By Content *Solvent-Borne Paints *Waterborne Paints
By Region *
Companies Mentioned in the Report *PPG *
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