Automotive Paints Market to Soar to $29.7 Billion by 2031 with 4.1% CAGR | AMR

Automotive Paints Market

The global automotive paints market is experiencing rapid growth worldwide.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 7, 2024 /EINPresswire.com/ -- The global 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐏𝐚𝐢𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at $20.5 billion in 2021, and is projected to reach $29.7 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031. Automotive paint is used on automobiles for both protective and decorative purposes, automotive paint is sprayed on automobile surfaces with assistance of a spray gun. These paints consist of polyurethane-based enamel, which protects surface from environmental damage, thus enhancing aesthetics of motor vehicles. The process of automobile painting comprises defined steps to ensure application of protective and efficient coating. Parts and body panels of automobiles are arranged into a temporary assembly known as body-in-white (BIW). Subsequently, automotive paint is applied in a temperature-controlled environment to accelerate the drying process. Multiple stages of application are done to ensure integrity of the paintwork for an extended period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 326 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/686

The Automotive Paints Market report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

The report offers a detailed segmentation of the global automotive paints market based on vehicle type, technology, coating, texture type, sales channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/automotive-paints-market/purchase-options

In addition, key manufacturers have carried numerous developments in the global automotive paints market. For instance, in May 2022, Axalta Coating Systems, one of the largest suppliers of automotive paints and coatings solutions launched its new range of primers Alesta ZeroZinc in Europe, the Middle East, and Africa. Thus, high use and development in primers are expected to drive demand for primers during the forecast period.

The global automotive paints market is segmented into the coating, texture type, technology, vehicle type, and region. Depending on coating, the market is classified as a primer, base coat, clear coat, and electrocoat. By texture type, it is categorized into solid, metallic, pearlescent, and others. On the basis of technology, it is segregated into waterborne coatings, solvent-borne coatings, and powder coatings. As per vehicle type, it is fragmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By technology, the waterborne coatings segment held the largest share in 2021, accounting for more than two-thirds of the global automotive paints market and would dominate the market in terms of revenue during the forecast period. However, the powder coatings segment would cite the fastest CAGR of 8.3% throughout the forecast period. The solvent borne coatings segment is also analyzed in the report.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐁𝐀𝐒𝐅 𝐒𝐄, 𝐊𝐚𝐧𝐬𝐚𝐢 𝐏𝐚𝐢𝐧𝐭𝐬 𝐂𝐨. 𝐋𝐭𝐝., 𝐍𝐢𝐩𝐩𝐨𝐧 𝐏𝐚𝐢𝐧𝐭𝐬 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬 𝐂𝐨. 𝐋𝐭𝐝, 𝐂𝐥𝐚𝐫𝐢𝐚𝐧𝐭 𝐀𝐆, 𝐀𝐤𝐳𝐨 𝐍𝐨𝐛𝐞𝐥 𝐍.𝐕., 𝐃𝐮𝐏𝐨𝐧𝐭 𝐝𝐞 𝐍𝐞𝐦𝐨𝐮𝐫𝐬 𝐈𝐧𝐜, 𝐏𝐏𝐆 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬, 𝐒𝐨𝐥𝐯𝐚𝐲 𝐒.𝐀., 𝐓𝐡𝐞 𝐒𝐡𝐞𝐫𝐰𝐢𝐧 𝐖𝐢𝐥𝐥𝐢𝐚𝐦𝐬 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐀𝐱𝐚𝐥𝐭𝐚 𝐂𝐨𝐚𝐭𝐢𝐧𝐠𝐬 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐋𝐋𝐂

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/686

By sales channel, the OEM segment accounted for the highest share in 2021, for nearly two-thirds of the global automotive paints market revenue and is expected to continue its lead during the forecast period. The aftermarket segment, however, would manifest the fastest CAGR of 4.7% during the forecast period.

Factors such as increase in automobile production and surge in demand for eco-friendly automotive paints are the key factors that drive growth of the global automotive paints market. However, rise in prices of raw materials to manufacture automotive paints hinder growth of the market. On the contrary, increase in focus to produce cost-effective automotive paints is anticipated to offer remunerative growth opportunities for the player operating in the market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/686

By region, Asia-Pacific held the major share in 2021, contributing to more than half of the global automotive paints market revenue. The LAMEA region, simultaneously, would showcase the fastest CAGR of 5.6% during the forecast period. The other provinces studied through the report include North America and Europe.

Presently, the global automotive paints market is dominated by Asia-Pacific followed by Europe, North America, and LAMEA. In Asia-Pacific, the market is mainly driven by China, owing to the optimistic automotive sector scenario. In North America, the U.S. is expected to witness considerable growth in the automotive paints industry during the forecast period.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Automotive Camera Market - https://www.alliedmarketresearch.com/automotive-camera-market

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Automotive Voice Recognition System Market - https://www.alliedmarketresearch.com/automotive-voice-recognition-system-market-A07279

Autonomous Vehicle Market - https://www.alliedmarketresearch.com/autonomous-vehicle-market

David Correa
Allied Market Research
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