DUBLIN--(BUSINESS WIRE)--The "Automotive Paints Market by Type, Resin, Technology, Paint Equipment, Texture, Content, ICE & EVs, Refinish, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The automotive paints market is estimated to be USD 8.74 Billion in 2018 and is projected to reach USD 10.65 Billion by 2025, at a CAGR of 2.88%, from 2018 to 2025.
The growing vehicle production (especially, passenger cars), stringent VOC emission regulations for paint manufacturing, and changing customer preferences for paint textures are projected to drive the automotive paints industry and advancements in the paint technology. Advancements in automotive safety technologies reduce accidents, thus restricting the refinish market. This would significantly diminish the automotive refinish paint market.
Nowadays, along with engine specifications, quality, and durability, color & texture of the vehicle is also one of the most important factors influencing the buying-decision. Basecoat is expected to grow over the forecast period because it is the only paint type that consists colors. Even though the thickness of the basecoat is minimal, this coat has maximum contribution in terms of value, because it consists of the actual visual properties of color and effects.
Waterborne technology is expected to be the largest segment of the automotive paints market, by technology. Earlier, solvent-borne paints were preferred owing to their lesser price and quick drying properties. However, with the growing stringency of emission regulations monitoring paint production, industry stakeholders are preferring eco-friendly paint technologies such as waterborne technology.
The polyurethane automotive coating is expected to be the largest segment of the automotive paints market, by resin type. This is because polyurethane has increasing use in topcoats (clearcoat and basecoat) to increase the durability of coats, improve appearance, and protect vehicles from scratches.
The automotive refinish paints market is segmented on the basis of resin type. Polyurethane is the dominant resin type in this market, mainly due to its extensive usage in clearcoat and basecoat. Polyurethane resin accounted for the largest share in the overall automotive refinish coating market. It is preferred in clearcoat and basecoat layers due to its excellent weather-, corrosion-, and mechanical resistance.
The study segments automotive paints market by painting equipment as well. The airless spray gun is the widely used painting technique across the globe due to its better spraying efficiency as compared to air spray guns. Due to its low installation cost, it has the largest market across the globe. The study also segmented the market by content types such as pigments, water, resins and solvents.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Paints Market, By Paint Type
7 Automotive Paints Market, By Technology
8 Automotive Paints Market, By Resin Type
9 Automotive Paints Market, By Texture
10 Automotive Paints Market, By Content
11 Automotive Paints Market, By Painting Equipment Type
12 Automotive Paints Market, By Vehicle Type
13 Electric & Hybrid Vehicle Paints Market, By Region
14 Automotive Refinish Paints Market, By Resin Type
15 Automotive Paints Market, By Region
16 Competitive Landscape
17 Company Profiles
- DOW Chemical
- Nippon Paint
- Sherwin Williams
For more information about this report visit https://www.researchandmarkets.com/research/nv8w4w/opportunity?w=4