Automotive Coatings Market has been envisaged to record a moderate CAGR of over 4.0% through 2027

Top 5 companies in the automotive coatings market will continue to hold nearly two-fifth market share, with an average revenue range of US$ 5Bn to US$ 8 Bn. This further implies a high consolidation of the automotive coatings market at the brim.

The automotive coatings market continues to witness significant transformation ranging from new material developments in the vehicle production to higher popularity of traditional colors compared to “more colorful” alternatives.

 

Automotive coatings market analysis and forecast by vehicle type

The automotive coatings market is expected to witness an increase in volume sales of over 3,500 tons in 2018 over 2017, according to a recent Fact.MR study. Refinish formulations continue to gain center stage in the automotive coatings market, while water-borne coatings are gaining increased focus for basecoats.

Water borne automotive coatings have gained utter prominence over the years of evolution, primarily driven by environmental and health concerns of the solvent-borne automotive coatings.

The study estimates nearly 6 in 10 tons of automotive coating sold worldwide in 2018 to be water-borne. However, demand for waterborne coatings as primer surface layer is likely to witness decline in tandem with increasing palpability of UV cure automotive coatings.

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UV cure variants, albeit accounting for minor share of the market currently, have emerged as fast-selling automotive coatings and the status quo is likely to prevail in 2018 and beyond.

Demand for solvent borne coatings is expected to remain higher than solvent-borne coatings in 2018, despite concerns regarding their environmental and health impacts. Preference for solvent borne automotive coatings is primarily undergird by their relative superiority in retention of pigments liquid and binding agents.

 

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