According to a research report published by Spherical Insights & Consulting, the Global Automotive Paints Market Size Expected to Grow from USD 8.37 Billion in 2023 to USD 11.43 Billion by 2033, at a CAGR of 3.16% during the forecast period 2023-2033.

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Paint is applied to the surface of an automobile, including the interior and exterior body parts, to protect it from environmental damage. The automobile manufacturers used paints to give an aesthetic look for flourishing the market as well as consumers need to be growing factors for the market. Paints are contained in water-based formulation or polythene-based enamel. The automotive paints are applied to control the temperature for both the interior and exterior. In addition, technological advancements are propelling the development of advanced coatings with improved durability, corrosion resistance, and aesthetics. However, the rising cost of raw materials, higher production cost, limitation in profit margin, and solvents in paints harm the ecosystem, expected to hamper the market growth.

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Automotive Paints Market Size, Share, and COVID-19 Impact Analysis, By Type (Electrocoat, Primer, Basecoat, and Clearcoat), By Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, and Others), By Technology (Solvent Borne, Waterborne, Powder Coating, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.   

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The clearcoat segment is anticipated to hold the largest share of the global automotive paints market during the forecast period.

On the basis of type, the global automotive paints market is divided into electrocoat, primer, basecoat, and clearcoat. Among these, the clearcoat segment is anticipated to hold the largest share of the global automotive paints market during the forecast period. The increasing need for a fine-shine appearance and a desirable exterior look on new and expensive automobiles promotes the market for clearcoats. Furthermore, controlling the temperature and protection against the micro-scratch stimulate segmental growth.

The passenger cars segment is expected to grow at the fastest CAGR in the global automotive paints market during the projected period.

On the basis of vehicle type, the global automotive paints market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and others. Among these, the passenger cars segment is expected to grow at the fastest CAGR in the global automotive paints market during the projected period. Passenger cars are popular in the automobile sector, so their maintenance should be a priority in terms improve appearance, protecting against corrosion, and ensuring lifetime. So, these factors boost the segmental growth.

The waterborne segment is anticipated to grow at the fastest CAGR in the global automotive paints market during the forecast period.

Based on the technology, the global automotive paints market is classified into solvent-borne, waterborne, powder coating, and others. Among these, the waterborne segment is anticipated to grow at the fastest CAGR in the global automotive paints market during the forecast period. Waterborne technology emits fewer volatile organic compounds (VOCs) than solvent-based technologies, making it more environmentally beneficial. So, this factor influenced the segmental growth.

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Asia Pacific is expected to hold the largest share of the global automotive paints market during the forecast period.

The Asia-Pacific market growth is influenced by several factors, including urbanization, fast industrialization, and a flourishing local auto industry.  Paints and coatings needs are also being driven by tight environmental regulations, technological advancements, and rising budgets. Additionally, the region’s position in this industry is strengthened by its stable supply chain and growing investments in the production of automobiles. The strong growth of the automobile industry in countries such as India, Japan, South Korea, and other Asia-Pacific continents adds dominance in regional markets.

North America is anticipated to grow at the fastest pace in the global automotive paints market during the projected period. The United States and Canada, with their huge manufacturing capacity and strong presence of major automakers, are significant contributors to the region’s automotive paints sector expansion. Furthermore, consumer need for personalized car looks and advanced paint technologies propels market expansion so, the region also anticipates investments in research and development aimed at improving paint formulations and application techniques.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global automotive paints market are Axalta Coating Systems, LLC, KCC, Sherwin-Williams Company, BASF SE, AkzoNobel N.V., Henkel Corporation, Berger Paints India Limited, PPG Industries, Inc., Nippon Paint Holdings Co., Ltd., 3M, Sika AG, RPM International Inc., Clariant AG, DOW Chemical, DuPont Coatings & Color Technologies Group, Kansai Paint Co., Ltd., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2024, Nippon Paint introduced Mastercraft, its new automotive body and paint repair brand in Gurgaon (Delhi NCR). The store made a partnership with N-Square Automotive Services.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global automotive paints market based on the below-mentioned segments:

Global Automotive Paints Market, By Type

• Electrocoat
• Primer
• Basecoat
• Clearcoat

Global Automotive Paints Market, By Vehicle Type

• Passenger Cars
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Others

Global Automotive Paints Market, By Technology

• Solvent Borne
• Waterborne
• Powder Coating
• Others

Global Automotive Paints Market, Regional

• North America
  • US
  • Canada
  • Mexico

• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America

• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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