Press Releases

Automotive Paints and Coatings Market Size To Grow USD 36.05 Billion by 2030

The global automotive paints and coatings market size reached  USD 17.41 bn in 2022 and it is predicted to touch around USD 36.05 bn by 2032 with a CAGR of 7.60% from 2023 to 2032.


Automotive paints & coatings are the automotive surface protection solutions. They are applied on the vehicle surface with the assistance of a spray gun. The automotive paints consist of polyurethane-based enamel that protects the automobile surface from environment such as rusting and other damages, thereby enhancing the aesthetics of the vehicle.

Get a Sample:

Automotive Paints and Coatings Market Growth Factors

Stringent regulations for harmful emission and growing environmental concerns for paints & coatings manufacturing process predicted to enhance the demand for eco-friendly paints in the market. Furthermore, increasing requirement for maintenance, repair, and restoration of vehicles expected to augment the market growth for automotive paints & coating in the coming years. Increasing vehicle age is the main cause behind its significant repair & maintenance. As per U.S. Bureau of Labor Statistics, around 50% of vehicles are aged between 11-20 years and an average US$ 400 is spent yearly on car repair. This is anticipated to flourish the paints & coating market prominently in the years to come.

However, advancements in the automotive industry have reduced the number of accidents significantly that hinders the refinish market for automotive paints & coatings. Besides this, recent advancements in the paint & coating products for automotive sector have provided highly durable surface finish that exceeds the customer expectation along with it also complies with the environmental regulations. Thus development in the paint chemistry and spraying methods have improved the uniformity in paint layer and paint transfer efficiency, thereby reducing the wastage. The aforementioned factors anticipated to flourish the market growth during the forecast period.

Get More Info: Autonomous Vehicle Market Will Hit Massive Growth in Near Future

Report Highlights

  • Europe is one of the major markets for automotive paints & coatings with prominent revenue share in 2019. The growth of the region is mainly due to presence of large number of automotive manufacturers in the region.
  • Asia Pacific is expected to show considerable growth during the forecast period owing to rising vehicle affordability among the public. In addition, several players plan to expand their production base in the Asian countries as it has large consumer base.
  • By raw material, polyurethane-based coatings led the market with substantial revenue share owing to rising refinishing services market. Rising number of fatalities and accidents on-road increases the refinish service market for paints & coatings. However, epoxy resins expected to offer magnificent growth over the coming years due to improved wear resistance capability and excellent adhesion with metals.
  • Rising vehicle sales and increased consumer spending on aesthetics and comfort have bolstered the OEM market. Nonetheless, rising number of accidents and shifting trend towards customized and cost-effective auto parts projected to trigger the aftermarket distribution channel in the coming years.

Regional Snapshots

Europe projects magnificent growth for paints & coatings for the automotive industry owing large automobile production capacity of the region. According to European Automobile Manufacturers Association, 19.2 Mn that accounts to 20% of the total global motor vehicles production were recorded in European Union in the year 2018. Out of the stats presented, 16.5 Mn were passenger vehicles and rests were commercial vehicles. Furthermore, increasing number merger & acquisition in the region expected to showcase significant growth potential in the coming years.

On the contrary, Asia Pacific held substantial revenue share in the global automotive paints & coatings market in 2019. This is mainly attributed to the increased vehicle affordability and rising per capita income in the region. In addition, the region offers large consumer base for the vehicle sale that attracts potential automobile manufacturers to establish their production plant in the region. For instance, Honda Motor Co. Ltd. announced its plan in 2014 to expand its car production in Asia Pacific. The company aimed to sell 1.3 Mn units in China by 2015 and 1.2 Mn in the rest of Asia Pacific by 2016.

Key Players & Strategies

The global automotive paints & coatings market seeks high competition due to presence of large number of players in the market. The market for automotive paints & coatings is a niche market with lucrative growth opportunities in the near future. Significant involvement of players in product development is the key factor contributing to the market growth. In May 2020, Clariant AG launched solutions that accelerate the industrial coatings requirement for North America with improved sustainability and performance.

Some of the key players of the market are Akzo Nobel NV, Axalta Coating Systems, BASF SE, Cabot Corp, Clariant AG, Covestro, Donglai Coating Technology, dupont, Eastman, Kansai Paint Co. Ltd, KCC Corporation, Nippon Paint Holdings Co. Ltd, PPG Industries, Inc., The Valspar Corporation., and wanda refinish among others.

Automotive Paints and Coatings Market Segmentation

By Vehicle Type

  • Passenger Cars
  • Heavy Commercial Vehicles
  • Light Commercial Vehicles

By Coating Type

  • Basecoat
  • Primer
  • Electrocoat
  • Clearcoat

By Technology Type

  • Solvent borne
  • Waterborne
  • UV Curved
  • Powder

By Texture

  • Metallic
  • Solid
  • Matte

By Distribution Channel

  • Aftermarket
  • OEM

By Raw Material

  • Epoxy
  • Acrylic
  • Polyurethane
  • Other Resins

By Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

You can place an order or ask any questions, please feel free to contact at | +1 9197 992 333

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Prathamesh Sakpal

Recent Posts

Traction Motor Market Size To Reach USD 29.66 Billion By 2032

The global traction motor market size was estimated at USD 12.79 billion in 2023 and…

1 week ago

Traction Inverter Market Size to Hit USD 73.08 Bn By 2032

The global traction inverter market size reached USD 17.93 billion in 2023 and is expected…

1 week ago

Automotive Seat Belts Market Size To Attain USD 25.49 Bn By 2032

The global automotive seat belts market size surpassed USD 19.03 billion in 2023 and is…

1 week ago

Gasoline Direct Injection Device Market Size, Report by 2032

The global gasoline direct injection (GDI) device market size was valued at USD 7.54 billion…

2 weeks ago

Automotive Fuel Injector Market Size, Share, Report by 2032

The global automotive fuel injector market size reached US$ 69.25 billion in 2023 and is…

2 weeks ago

Automotive VVT System Market Size to Rake USD 102.39 Bn by 2032

The global automotive VVT system market size reached  USD 66.57 billion in 2023 and is…

2 weeks ago