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Report Overview
The global automotive coating market attained a value of nearly USD 28.72 billion in 2023. The market is further expected to grow at a CAGR of 5.80% during the forecast period of 2024-2032 to reach a value of USD 47.70 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Automotive Coating Market Size
The global automotive coating market size is projected to grow at a CAGR of 5.80% in the forecast period of between 2024 and 2032, reaching an approximate value of USD 47.70 billion by 2032.
Key Trends in the Market
An automotive coating is a material used as a layer on top of automotive components for protective, decorative, and functional purposes. Important characteristics of these coatings include an excellent elastomeric finish and increased surface hardness. Various types of automotive coatings are available for specific material types such as metals, composites, and polymers. The coatings can be used internally, externally, as primer, basecoat, or clear coat, among others.
- With the rising vehicle production, the market is expected to witness significant growth during the forecast period. As automotive coatings improve the aesthetics and durability of automobiles and shield them from harsh weather conditions such rain, extreme temperatures, UV radiation, and foreign particles, the automotive coating market is expected to witness significant growth.
- There have been several technological advancements in automotive coatings, including their properties of deposition, improvements in monitoring droplets during application, and new insights into materials used. The market demand for automotive coatings is anticipated to increase as a result of these factors in the upcoming years.
- Rising per capita income, growing population, and increasing vehicle use are additional drivers propelling the global market for automotive coatings. Around the world, there are an increasing number of people who own cars as a hobby and invest in the aesthetic appearance of their cars by changing coatings regularly. This is promoting market expansion.
Automotive Coating Market Report Snapshots
Automotive Coating Market Size
Automotive Coating Market Analysis
Automotive Coating Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market for automotive coating is projected to grow at a CAGR of 5.80% between 2024 and 2032.
The automotive coating market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 47.70 billion by 2032.
The major drivers of the market include the technological developments in coatings, increasing per capita income, increasing vehicle use, and growing sales of pre-owned vehicles.
Increasing vehicle production and expansion of vehicle repair and body shops are the key trends propelling the growth of the market.
The major regions in the market for automotive coatings are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The market on the basis of coat type can be segmented into internal coating, external coating, e-coat, primer, basecoat, and clearcoat, among others.
The major players in the industry are BASF SE, PPG Industries, Inc., Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., and KCC Corporation, among others.
Automotive coatings can be used to provide protection to an automotive component, or to increase the aesthetic appeal of the vehicle.
The different resin types in the market for automotive coatings include polyurethane, epoxy, and acrylic, among others.
The various technologies in the market include solvent-borne, water-borne, and powder coating, among others.
In 2023, the market reached an approximate value of USD 28.72 billion.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124