Automotive Specialty Coatings Market - Global Forecast to 2025: Increasing Number of Coating Applications to Increase the Demand
DUBLIN, Feb. 14, 2019 /PRNewswire/ --
The "Automotive Specialty Coatings Market by Application (Engine Exhaust, Interior, Transmission, Wheels), Technology (Solvent-borne, Water-borne, Powder), Resin, Substrate, ICE, Electric & Hybrid Vehicle & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The automotive specialty coatings market is estimated to be USD 3.02 billion in 2018 and is projected to reach USD 3.75 billion by 2025, at a CAGR of 3.12%, from 2018 to 2025.
The growing vehicle production, increasing application of coatings, and the increasing adoption rate of AMTs are projected to drive the automotive specialty coatings industry and the advancements in the coating technology.
Waterborne technology is expected to be the largest as well as the fastest growing market for automotive specialty coatings by 2025. Solvent-borne coating technology has the largest market share in 2018. Solvent-borne coatings were preferred due to their lower price and quick drying properties. However, with the growing stringency of VOC emission regulations monitoring the coating production, the industry stakeholders are preferring eco-friendly coating technologies, such as waterborne.
The polyurethane resin segment is expected to be the largest as well as the fastest growing automotive specialty coatings market, by resin type. Polyurethane resins are mostly used to provide high gloss and scratch resistance to plastic parts that are mostly used in the interior applications of cars. Moreover, polyurethane resins are also used on metal for applications such as engine & exhaust, transmission, and wheel rims to make them corrosion-resistant. Advancement in technology such as direct to metal coating will have a huge positive impact on the polyurethane market as polyurethane is the only resin that can be used in the direct to metal coating technology.
Wheel rims market is expected to be the largest automotive specialty coatings market, by applications. The amount of coating required for wheel rims is dependent on two factors, namely, wheel rim size and the number of wheels required per vehicle. Passenger cars and LCVs in Europe and North America are mostly sedans, SUVs, and pick-up trucks, which use bigger rims. Whereas, passenger cars and LCVs that are produced in the Asia Oceania region mostly require less amount of coating. This difference will impact the market in these respective regions.
Plastics & others segment is estimated to be the fastest growing market in automotive specialty coatings market by substrate. This growth is attributed to the adoption of plastic components to reduce the overall vehicle weights.
The HEV segment is estimated to hold the largest market share in the automotive specialty coatings market, by electric & hybrid vehicle type. The large market share is attributed to the higher sales of HEVs than BEVs and PHEVs in all the regions. The market is also estimated to grow with the HEV market. Asia Oceania and North America are the largest markets for HEV, in terms of vehicle sales. Hence, these markets are expected to be the largest markets for automotive specialty coatings for HEVs.
The Asia Oceania region is estimated to be the largest market for automotive specialty coatings during the forecast period. Asia Oceania region is estimated to be the largest producer of passenger cars and LCVs, which are the largest contributors in the automotive specialty coatings market.
In Asia Oceania, China is the leading country in automotive specialty coatings market where passenger car & LCV are the leading vehicle types. Wheel rims coating is estimated to have the largest market share and transmission coating is estimated to be the fastest growing application area in the Asia Oceania region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Automotive Green Coatings Market
4.2 Market, By Region
4.3 Market, By Technology
4.4 Market, By Substrate Type
4.5 Market, By Ice Vehicle Type
4.6 Market, By Applications
4.7 Market, By Resin Type
4.8 Market, By Electric & Hybrid Vehicle Type
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Vehicle Production to Fuel the Automotive Specialty Coatings Market
5.2.1.2 Increasing Number of Coating Applications to Increase the Demand for Specialty Coatings
5.2.2 Restraints
5.2.2.1 Growing Trends of Engine Downsizing
5.2.2.2 Increasing Sales of BEV
5.2.3 Opportunities
5.2.3.1 Increasing Sales of Premium Vehicles
5.2.3.1.1 Premium Vehicles
5.2.3.1.2 HEV & PHEV
5.2.4 Challenges
5.2.4.1 Stringency of Volatile Organic Compound (VOC) Regulations
6 Automotive Specialty Coatings Market, By Applications
6.1 Introduction
6.2 Engine & Exhaust
6.3 Interior
6.4 Transmission
6.5 Wheel Rims
6.6 Other Applications
7 Automotive Specialty Coatings Market, By Technology
7.1 Introduction
7.2 Solvent-Borne
7.3 Waterborne
7.4 Powder Coatings
8 Automotive Specialty Coatings Market, By Resin Type
8.1 Introduction
8.2 Polyurethane
8.3 Epoxy
8.4 Acrylic
8.5 Other Resin Types
9 Automotive Specialty Coatings Market, By Substrate
9.1 Introduction
9.2 Metal
9.3 Plastic & Others
10 Automotive Specialty Coatings Market, By Electric and Hybrid Vehicle
10.1 Introduction
10.2 Battery Electric Vehicle
10.3 Hybrid Electric Vehicle
10.4 Plug-In Hybrid Vehicle
11 Automotive Specialty Coatings Market, By Ice Vehicle Type
11.1 Introduction
11.2 Passenger Car
11.3 Light Commercial Vehicle
11.4 Trucks
11.5 Buses
12 Automotive Specialty Coatings Market, By Region
12.1 Introduction
12.2 Asia Oceania
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Thailand
12.2.6 Asia Oceania Others
12.3 North America
12.3.1 US
12.3.2 Canada
12.3.3 Mexico
12.4 Europe
12.4.1 Germany
12.4.2 France
12.4.3 UK
12.4.4 Spain
12.4.5 Turkey
12.4.6 Russia
12.4.7 Europe Others
12.5 Rest of the World (RoW)
12.5.1 Brazil
12.5.2 Iran
12.5.3 RoW Others
13 Competitive Landscape
13.1 Overview
13.2 Automotive Specialty Coatings Market: Market Ranking Analysis
13.3 Competitive Scenario
13.3.1 Expansions
13.3.2 Mergers & Acquisitions
13.3.3 New Product Launches/New Product Developments
13.3.4 Partnerships/Joint Ventures
14 Company Profiles
14.1 PPG
14.2 BASF
14.3 Axalta
14.4 Akzo Nobel
14.5 Sherwin-Williams
14.6 Kansai
14.7 Solvay
14.8 Covestro
14.9 DOW Chemical
14.10 KCC
14.11 Nippon Paint
14.12 Additional Cps
14.12.1 Asia Oceania
14.12.1.1 Kangnam Jevisco
14.12.1.2 Chembond Chemicals
14.12.2 Europe
14.12.2.1 Clariant
14.12.2.2 Nsp Coatings
14.12.2.3 Oerlikon Metco
14.12.2.4 Berlac AG
14.12.3 North America
14.12.3.1 Decc Company
14.12.3.2 Hexion
14.12.3.3 Lord Corporation
14.12.3.4 Electro Tech Coatings
For more information about this report visit https://www.researchandmarkets.com/research/xndlc2/automotive?w=5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article