Automotive Speciality Coating Market

Global Automotive Speciality Coating Market Size (2024 to 2032)

The global automotive speciality coating market was valued at USD 3.50 billion in 2023 and is anticipated to reach a valuation of USD 4.95 billion in 2024 from USD 4.95 billion by 2032 growing at a CAGR of 3.92% from 2024 to 2032.

The automotive speciality coating market is multiplying due to the expansion of the automotive sector. These coatings are mainly used in aerospace and defence, oil and gas industries, petroleum and chemical factories, refineries, and power stations. The exponential growth in automotive industries is directly affecting the target market size and trends. The global automotive speciality coating market expanded in 2015 because of the rising production of automotive devices. It is classified into different parts based on the material used for the process like alkyd, polyamide, epoxy, and acrylic urethane. These materials are used for coating in different industries. The coating is not only used for application for maintenance but it is sometimes used for increasing the beauty of the components.

Market Growth

The global automotive speciality coating market has increased rapidly since 2017 due to the increasing population of nations, production of vehicles and application of coating. The automotive industry is also attached to the coating market. Increasing the production of vehicles or all other components is the main reason for market growth. Various types of coatings are available in the market so consumers can easily decide which is preferable for their work. The increasing adoption rate of automated manual transmission (AMTs) drives the market. Water Borne technique is the largest as well as most used technique. Also, solvent-borne techniques are used for coating, and it is preferred for its low price, quick drying nature, and eco-friendliness.

Market Drivers

In Automotive speciality Coating Market, there are some important factors that drive the whole market. The first factor is, the increasing demand for vehicles and the production of vehicles or components of vehicles is leading to the growth of the market. Also, the population of every nation is increasing rapidly so demand for different components and automotive applications which have coating is the main factor.

The second most important driver of the market is the increasing number of coating applications. Different types of coating are available in the market and it is preferable for customers, so the market size is increasing day by day. Some are eco-friendly for the environment. The most important growth factor is the increasing number of sales of premium vehicles.

Market Restraints

In the Automotive speciality Coating Market, there are some factors that limit the whole market. Now in every production and manufacturing industry, a new trend rapidly increases which is engine downsizing. This trend is the first restraint factor in this market. Then the increasing number of sales of BEV and FCEV models of application. Also the up and down of the cost of raw material of coating components are the most important factor. The production of coating material may use hazardous chemicals and limitations on the use of such material are standing as restraints factors on the production of coating material.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Automotive Speciality Coating Market Analysis By Application

Engine downsizing is a restraining factor in this segment. But wheel rims and others are playing a vital role in market growth. As well as transmission and interior are creating a new market for coating. The increasing number of industries and the production of vehicles gives new opportunities for these sectors. The wheel rims segment expected the most considerable share. The amount of coating required for the wheel rims depends on two factors: the size of the wheel and the number of wheels required for the vehicle.

Global Automotive Speciality Coating Market Analysis By Technology Type

The production or manufacturing of coating components plays the most important role because of the technology the market growth is also secured. The first technology is solvent-borne which prefers low market price rather than other technology and it is easily available in the market. In 2018, solvent-borne technology held the largest share of the market. Water coating technology is the largest as well as fastest-growing market technology in the world. It’s eco-friendly for the environment. Then powder coating technology holds a stable amount of market share. Different types of components are needed for powder coating technology, which will directly affect it.

Global Automotive Speciality Coating Market Analysis By Resin Type

Polyurethane is highly used in high gloss and scratch resistance for plastic components which is used in the interior or internal part of the application. Polyurethane is used on metal so it will apply to interior parts and wheel rims of vehicles for corrosion resistance. Also, polyurethane is used directly on metal and is creating a big market for coating.

Global Automotive Speciality Coating Market Analysis By Substrate

Plastic is used for lightweight materials. The metal is used for the anti-corrosive and hardness and it will long live material.

Global Automotive Speciality Coating Market Analysis By Hybrid and Electric Vehicle

All types of vehicles have different markets in different regions. HEV segment is the expected segment to have the largest share in the global market.

Global Automotive Speciality Coating Market Analysis By Vehicle Type

In the Asia market, passenger cars and LCVs are the most used applications so the coating market for LCVs and Passenger cars is high in Asian Region. Also, in other countries, the LCV is the most used application by people so market participation is high.

REGIONAL ANALYSIS

In the Asia Pacific region, the high market for automotive specialty coating is for LCV. It is also the largest market for automotive speciality coatings. Passenger cars and LCVs are having major production in this area. China is the leading country in this market. Wheel rim coating is estimated largest share in this area in the coming years.

KEY MARKET PLAYERS

PPG (US), Axalta (US), AkzoNobel N.V. (Netherlands), BASF SE (Germany), Sherwin Williams (US), Kansai (Japan), Covestro (Germany), Solvay AG (Belgium), DOW Chemical (US), Nippon Paints (Japan), KCC (South Korea). These are the market players that are dominating the global automotive specialty coating market.

RECENT HAPPENINGS IN THE GLOBAL AUTOMOTIVE SPECIALTY COATING MARKET 

• In 2018, OerlikonBalzers began a new manufacturing and production unit in Slovakia. The new plant is considered crucial for coating and heat-treating automotive elements.
• In July 2018, Carlisle Fluid Technology (CFT), a part of Carlisle Companies, opened its facility in Bournemouth in (UK). This unit will produce handguns, automatic guns, and powder finishing improving the manufacturing abilities of the firm. These guns are used for the powder coatings like tribo guns.
• In May 2018, Ionbond, an IHI Corporation division, extended its coating ability at its service centre in France. Various cutting tool coating products are developed in this unit.
• The hydrometer industry is offering new anti-fog coatings with long-lasting quality and water sheeting capabilities.

DETAILED SEGMENTATION OF THE GLOBAL AUTOMOTIVE SPECIALITY COATING MARKET INCLUDED IN THIS REPORT

This research report on the global automotive specialty coating market is segmented and sub-segmented into the following categories.

By Application

• Exhaust  
• Interior   
• Transmission  
• Wheel Rims

By Technology Type

• Solvent Borne  
• Water Borne Coating
• Powder Coating

By Resin Type

• Epoxy
• Acrylic
• Polyamide

By Substrate

• Plastic
• Metal

By Hybrid and Electric Vehicle

•  HEV
• PHEV
• BEV

By Vehicle Type

• Passenger Car
• LCV
• HCV

By Region

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa