Comparing 17 vendors in Automotive Coatings across 0 criteria.

Market Presence
Contenders Contenders
Market Leaders Market Leaders
Emerging Companies Emerging Companies
Innovators Innovators
PPG
KAPCI
Asian Paints
Beckers Group
Shanghai Kinlita
BASF
AkzoNobel
Axalta Coating
Berger Paints
Jotun A/S
Sherwin Williams
KCC
Kansai Paint
Nippon Paint
Arkema
Red Spot
WEG S.A.
Product Footprint
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POWERED BY MARKETSANDMARKETS
Dec 13, 2024
 
Summary

The Automotive Coatings Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Automotive Coatings. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 110 companies of which the Top 17 Automotive Coatings Companies were categorized and recognized as the quadrant leaders.

Automotive coatings are applied on vehicles for protection and decorative purposes. It provides protection from heat and cold, dirt, UV radiation, and various external environmental side effects to the vehicle body. Coatings are divided into different various types, namely E-coat, primer, basecoat, and clearcoat. Automotive coatings are an excellent example of cutting-edge technologies that can provide long-lasting surfaces, surpass customers' expectations for aesthetics, maximize efficiency, and adhere to environmental standards.

The 360 Quadrant maps the Automotive Coatings companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the automotive coatings’ quadrant. While the top criteria for product footprint evaluation included Resin Type (Polyurethane, Epoxy, Acrylic, and Others), Technology (Solvent-based, Water-based, and Powder-based), and Coat Type (E-coat, Primer, Basecoat, Clearcoat).

Key trends highlighted in 360 Quadrants:

  • The global automotive coatings market achieved a valuation of USD 15.0 billion in 2022 CAGR from 2022 to 2027. The automotive coatings industry has closely evolved alongside the automotive sector, both of which continually advance to offer advanced technology and sustainable products to their customers. The demand for automotive coatings is predominantly influenced by factors such as market trends in the automotive industry, environmental regulations, health and safety standards, consumer preferences, lifestyle changes, and economic growth. These factors have a positive impact on the automotive coatings sector, thereby fostering its growth.
  • The automotive coatings market is experiencing substantial growth, driven by increasing demand in the Asia Pacific region, notably in China and India. The surge in demand for automotive coatings can be attributed to heightened requirements from end-use industries. The adoption of eco-friendly and health-conscious coating technologies is anticipated to propel the automotive coatings market forward.
  • In 2022, the Asia Pacific region held a commanding share of almost 55% in the automotive coatings market, in terms of value. This is primarily attributed to the increasing trend of strategic partnerships and innovation among industry players, as well as the growing demand for both commercial and lightweight vehicles in this geographical area. The Southeast Asian region, comprising countries like Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, has witnessed one of the most rapid expansions in the automotive paint and coatings sector in Asia over the past few years.
  • North America boasts a varied market with numerous automotive coating manufacturers. These automotive coatings companies place their primary emphasis on developing new products to meet the growing demands of end-users. Technological advancements in manufacturing and the delivery of top-notch final products are the driving forces behind the North American automotive coatings market.
  • Based on the resin segmentation, the polyurethane automotive coatings accounted for the largest segment in the overall automotive coatings market. This is mainly due to its increased usage in topcoats (clearcoat and basecoat) and its properties such as excellent weather, corrosion, and mechanical resistance. This segment is expected witness a high growth in the near future.
  • While solvent-based technology currently holds the top position in the automotive coatings market with a market share of nearly 40%, it is projected to witness a decline in market share during the forecast period, primarily driven by strict environmental regulations in North America and Europe. The growing apprehension about the presence of Volatile Organic Compounds (VOCs) in solvents is leading to their gradual replacement by alternative technologies like water-based and powder-based coatings. Due such environmental norms it is therefore predicted that water-based technology segment will be the fastest growing segment.
  • In 2022, the clearcoat segment took the lead in the automotive coatings market, constituting roughly 35% of the total market volume for that year. Specifically, the clearcoat segment's market size was 1,188 kilotons in 2022, and it is anticipated to grow to 1,514 kilotons by 2027. Some of the notable automotive coatings companies that offer clearcoat include PPG, Axalta Coatings, AkzoNobel, Kansai Paints, Nippon Paint, BASF, and Sherwin-Williams among others. These companies offer a diverse portfolio of automotive coatings and cater to specific requirements of the industry while providing maximum efficiency and protection.
  • Leading automotive coatings companies have introduced innovative technologies that eliminate the need for a primer layer in the coating process in recent years. This trend is expected to be adopted in the automotive coatings industry in the coming years. For instance, automotive coatings companies like PPG and BASF launched innovative products in the domain. BASF launched first biomass balance automotive coatings using renewable raw materials according to a certified biomass balance approach in China in December 2022. While PPG launched launch of PPG ENVIRO-PRIME EPIC 200R coatings, a suite of electrocoat (e-coat) products that cure at lower temperatures than competing technologies in June 2023.
  • The automotive coatings market is fragmented, and as of 2023, the foremost five manufacturers consist of PPG Industries, Inc., Axalta Coating Systems, AkzoNobel NV, Kansai Paint Co., Ltd, and Nippon Paint Holdings Co., Ltd. These leading companies collectively hold approximately 35-45% of the overall automotive coatings market share, leaving the remainder in the hands of small and medium-sized automotive coatings companies.
  • The dynamics of the Automotive Coatings industry are advancing at a rapid pace. Automotive Coatings companies are modifying their Automotive Coatings portfolio in order to meet the ever-evolving demand of automotive applications. Factors such as growing automotive and EV sales, technological advancement in powder-based coating technology, and green, environmental-friendly, and healthier coating systems are driving factors of the automotive coatings market.
  • Investments in China's automotive sector present substantial growth prospects for automotive coatings manufacturers specializing in powder-based coatings, given that these coatings are extensively used in this industry.

 
Frequently Asked Questions (FAQs)
Some well-known automotive coatings companies include PPG Industries, AXALTA, Kansai Paint, AkzoNobel and Nippon Paint These companies are recognized for their commitment to developing and implementing automotive coatings solutions across various industries.
Automotive coatings are specialized materials that are applied to the surfaces of cars to offer durability, appeal, and protection. These coatings include functional layers such as primers, basecoats, clearcoats, and others.
Primers, bases, and clearcoats are the main three categories of automotive coatings. Basecoats offer color and effects, primer coatings offer adhesion and corrosion resistance, and clearcoats offer glossiness and security.
Automotive coatings give the exterior of the car the appropriate color, gloss, and finish, improving its aesthetics and adding to the brand's identity.
On a metal substrate, a car's paint job typically consists of an e-coat, primer, base coat, and clear finish. Mica is an extra paint layer that some hues contain.
As a way prevent water, salt, and other corrosive substances from coming into direct contact with the metal surface of the car and producing rust, automotive coatings operate as a barrier between the metal body of the vehicle and the outside environment.
The durability and appearance of vehicle coatings can be preserved with regular washing and waxing. Additionally, it's crucial to stay away from harsh chemicals that can harm the coating.
Yes, there is a growing trend toward eco-friendly coatings that have lower amounts of volatile organic compounds (VOCs) and have less of an impact on the environment during production and application.
Yes, special effects like metallic finishes, iridescent effects, and other textures may be made using custom automobile coatings to make vehicles stand out.
Due to rising vehicle demand, developments in coating technology, and ongoing search for novel and sustainable solutions, the market for automotive coatings is anticipated to expand steadily.
 
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360 Quadrants

360 Quadrants is a scientific research methodology by MarketsandMarkets to understand market leaders in 6000+ micro markets

360 Quadrants

360 Quadrants is a scientific research methodology by MarketsandMarkets to understand market leaders in 6000+ micro markets

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