Automotive Specialty Coatings Market to see Huge Growth by 2031

by mansi jain on May 27, 2024 Business 579 Views

The global automotive specialty coatings market is anticipated to grow at a CAGR of 11.1% during the forecast period (2024-2031). The automotive speciality coatings industry has evolved along with the automotive industry globally. The demand for automotive speciality coatings and advancements in coatings technology is influenced by the increase in vehicle production. An increase in the number of applications that required coating, and increasing sales of premium vehicles.

According to the American Chemical Council (ACC), in 2021, The automotive coatings industry employs thousands of workers around the globe. In 2021 in the US, it is estimated that 159 million pounds of polyurethane coatings were used by the automotive industry. This is comprised of approximately 67 million pounds by original equipment manufacturers (OEMs) and another 67 million pounds by the auto refinishing industry. 

Biomass balance approach, renewable raw materials are used as raw materials when manufacturing primary chemical products in the production site. For instance, in December 2022, BASF SE launched automotive coatings using renewable raw materials according to a certified biomass balance approach. The first batch of biomass balance ColorBrite® Airspace Blue ReSource basecoat was delivered to a customer in China. The product helps reduce around 20.0% product's carbon footprint

The tackle extreme weather conditions, the automotive aftermarket has always been on the search for the most durable coating for car owners. For instance, in November 2021, 3M India launched Ceramic Coating for the Indian automotive and paint industry. The product was launched to offer an improved solution to all issues related to exterior car surfaces. 3M Ceramic Coating provides a hydrophobic finish that makes it suitable for water beading, thus maintaining surface durability. 

Some degree of incompatibility with the paint is important for levelling performance the levelling agent emits little VOC (Volatile Organic Compounds), that makes it attractive for high-solids formulations owing to its very low viscosity impact. For instance, in March 2023, Evonik launched a new TEGO® Flow 380 levelling agent for high-quality automotive clear coatings. Evonik's Coating Additives business line is expanding its TEGO® Flow series with an efficient polyacrylate-based levelling agent. TEGO® Flow 380 is suitable for solvent-borne coatings, especially clear coats.

To Request a Sample of our Report on Automotive Specialty Coatings Market:  https://www.omrglobal.com/request-sample/automotive-specialty-coatings-market

Market Coverage

  • The market number available for – 2023-2031
  • Base year- 2023
  • Forecast period- 2024-2031

Segment Covered- 

  • By Resin Type
  • By Technology
  • By Application
  • By End Users

Regions Covered-

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
  • Competitive Landscape- includes Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF SE, PPG Industries, Inc., Sherwin-Williams, and others.

Automotive Specialty Coatings Market Report Segment

By Resin Type

  • Polyurethane
  • Epoxy
  • Acrylic
  • POLYESTER
  • Other (NYLON 6-6/6, Teflon)

By Technology

  • Waterborne Coatings
  • Solvent-Borne Coatings
  • Powder Coatings
  • Uv-Cured Coatings

By Application

  • Anticorrosion
  • Heat Protection
  • Liquid & Stain Repellents
  • Scratch Resistance

By End Users

  • Passenger Vehicle
  • Commercial Vehicle

A full Report of Automotive Specialty Coatings Market is Available @  https://www.omrglobal.com/industry-reports/automotive-specialty-coatings-market

Automotive Specialty Coatings Market Report Segment by Region

North America                                                                                                           

  • United States
  • Canada

Europe

  • UK
  • Germany
  • Spain
  • France
  • Italy
  • Rest of Europe

Asia-Pacific

  • India
  • China
  • Japan
  • South Korea
  • Rest of APAC

Rest of the World

  • Latin America
  • Middle East and Africa 

Company Profiles

  • 3M Co.
  • Akzo Nobel N.V.
  • Arkema S.A.
  • Asian Paints Ltd
  • Axalta Coating Systems Ltd.
  • Beckers Group
  • Berger Paints Ltd
  • DuPont de Nemours, Inc.
  • Hempel Group
  • HMG Paints Ltd.
  • Jotun Group
  • Kansai Paint Co.,Ltd.
  • KCC Corp.
  • Nippon Paint Automotive Coating Co., Ltd.
  • PARKER HANNIFIN CORP.
  • RPM International Inc. 
  • Valspar Corp.

Reasons to buy from us –

  1. We cover more than 15 major industries, further segmented into more than 90 sectors.
  2. More than 120 countries are for analysis.
  3. Over 100+ paid data sources mined for investigation.
  4. Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/automotive-specialty-coatings-market

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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Article source: https://article-realm.com/article/Business/63467-Automotive-Specialty-Coatings-Market-to-see-Huge-Growth-by-2031.html

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