Global Automotive And Transportation Coatings Market Size By Product (Waterborne Coating, Solvent Borne Coating), By Application (Automotive, Plane), By Geographic Scope And Forecast

Automotive And Transportation Coatings Market Size And Forecast

Automotive And Transportation Coatings Market size was valued at USD 27.51 Billion in 2020 and is projected to reachUSD 40.51 Billion by 2028,

growing at aCAGR of 4.96% from 2021 to 2028.

Rising demand for Automotive & Transportation Coatings for the purpose of increasing durability, enhancing of appearance of automotive & Transportation vehicles driving the market growth. Increased production of automotive and transportation vehicles in various developing nations, such as South Africa, South Korea, Brazil, India, and China fueling the growth of the market. Furthermore, rising demand for automotive refinish as a result of vehicle repair and maintenance is expected to propel the market forward over the forecast period. The Global Automotive And Transportation Coatings Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automotive And Transportation Coatings Market Definition

Automotive & Transportation coatings are used to coat the surfaces of automobiles & Transportation and exemplify the futuristic technologies capable of producing long-lasting surfaces, maximizing overall efficiency while complying with environmental standards. They also enhance a vehicle's overall durability and look while protecting it from UV rays, extreme temperatures, and foreign particles. These coatings are used to improve the durability and resistance of automobiles and vehicles against high temperatures, dust, foreign particles, corrosion, and rusting. Original equipment manufacturers (OEMs) apply these coatings to automobiles during manufacturing.

E-coat or electro-coat, primer, base coat, and clear coat are the order in which the coatings are applied to substrates. Gloss paint is the most often used paint for a number of reasons, including reducing the impact on the environment of paint. New automobile coatings are applied in layers with a total thickness of ~100 µm. (0.1mm). To ensure proper use, these coating applications necessitate preliminary steps and preparation. Basecoat is used after the groundwork paint has been put in a coating process. Following that, a clear coat of paint is applied to the structure, providing a polished and transparent surface that also resists UV rays. Powder coating is a solvent-free surface coating method that produces no volatile organic compounds (VOC).

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Global Automotive And Transportation Coatings Market Overview

Rising demand for automotive & transportation coatings for the purpose of increasing durability, and enhancing of appearance of automotive & transportation vehicles driving the market growth. The Global Automotive And Transportation Coatings Market is expected to rise owing to an increase in demand for these coatings for the purpose of increasing vehicle durability and enhancing appearance. These coatings can also protect automobiles from the adverse effects of harsh weather conditions such as UV radiation, excessive temperatures, foreign particles, and acid rain.

These advantages are projected to expand the scope of the Global Automotive And Transportation Coatings Market's rapid growth in the near future. Increased production of automotive & transportation vehicles in various developing nations, such as South Africa, South Korea, Brazil, India, and china fueling the growth of the market. Increased automotive & transportation vehicle production in developing countries such as South Africa, South Korea, Brazil, India, and China, as a result of rising income and population growth, is anticipated to fuel growth in the Global Automotive And Transportation Coatings Market in the coming years. Additionally, rising demand for automotive refinish as a result of vehicle repair and maintenance is expected to propel the market forward over the forecast period.

However, fluctuating raw material prices required for manufacturing automotive and transportation coatings, as well as various environmental regulations in developing and developed nations related to automotive production, are projected to restrain the global market's growth. Furthermore, increased demand for various eco-friendly coatings such as powder coatings, waterborne coatings, and UV-cured coatings are also expected to boost the growth of the Automotive And Transportation Coatings Market globally. This offers a lucrative growth opportunity for the market.

Global Automotive And Transportation Coatings Market: Segmentation Analysis

The Global Automotive And Transportation Coatings Market is Segmented on the basis of Product, Application, And Geography.

Automotive And Transportation Coatings Market, By Product

• Waterborne Coating
• Solvent Borne Coating
• Powder Coating
• UV-cured Coating

Based on Product, The market is segmented into Waterborne Coating, Solvent Borne Coating, Powder Coating, and UV-cured Coating. The Waterborne Coating segment is dominating the market with the highest market share and is anticipated to grow substantially and dominate the global market during the forecast period. This is owing to its low toxicity, low VOC levels, and low HAP emissions, all of which helps reduce air emission. Regulations in North America and Europe encourage the use of eco-friendly coating technologies. As a result, water-borne technology is likely to increase substantially during the forecasted years.

Automotive And Transportation Coatings Market, By Application

• Automotive
• Plane
• Truck
• Train
• Others

Based on Application, The market is segmented into Automotive, Plane, Truck, Train, and Others. The Automotive segment is witnessing the highest market share with strong market growth during the forecast period in the Global Automotive And Transportation Coatings Market. This is owing to an increase in production in the automotive industry.

Automotive And Transportation Coatings Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• On the basis of Geography, The Automotive And Transportation Coatings Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North America and Europe regions are dominating the market with the highest market stake and are expected to grow substantially and dominate the Global Automotive And Transportation Coatings Market throughout the forecast period. Asia-Pacific is expected to be the fastest-growing Automotive And Transportation Coatings Market.

Key Players

• The "Global Automotive And Transportation Coatings Market" study report will provide a valuable insight with an emphasis on the global market including some of the major players such as
• BASF, Evonik, Axalta Coating Systems, PPG, Nippon Paint, Kansai Paint, AkzoNobel, Sherwin-Williams, Covestro AG, Arkema, Beckers Group, Berger Paints India Limited, Eastman, Clariant AG, Royal DSM, Lord Corporation

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In May 2021: PPG completed its acquisition of Worwag, a global manufacturer of coatings for industrial and automotive applications.
• In February 2020: PPG Industries announced the acquisition of Industria Chimica Reggiana (ICR) SpA, a paints and coatings manufacturer for the automotive refinish and light industrial coatings industries. ICR is established in Italy and manufactures automotive refinish products under the SPRINT brand, such as putties, primers, basecoats, and clear coats.
• In July 2019: BASF SE invested nearly USD 40 million in North America to boost its automotive coatings production. The investments will increase capacity at the company's manufacturing facilities in Greenville, Ohio, and Tultitlan, Mexico.