Expansion Efforts through Innovations Maintain Pace of Booming Global Automotive Coatings Market.

The core utility of automotive coating products is to enhance the durability of a vehicle while improving its visual appeal. Automotive coatings are essentially used to protect the chassis of a vehicle from harsh external factors such as dust, stones and other particles, UV radiation, and extreme temperatures. Most of this is performed by the primer coating, while the rest can be performed by the basecoat and the clearcoat.

The primer can be used as a leveler to clear manufacturing defects and bumps off the surface of a vehicle. It is mainly used as a protectant from external corrosive elements, while also making it easier for the next coatings to stick to the vehicle surface. The basecoat is applied above the primer and mainly imparts color and other design effects to the vehicle. The clearcoat is applied above the basecoat and provides a glossy layer that is visually attractive and also protects the basecoat from external factors.

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Surge in Automotive Sales Boosts Global Automotive Coatings Market

The key driver for the global automotive coatings market is the rapid ongoing growth of its end user, the automotive industry. The demand for automotive coatings is consistently high in the developing economies of Asia Pacific and Latin America and is also quite high in North America and Europe. This has prompted a growth in demand from the global automotive coatings market. The majority of the demand comes from passenger and commercial vehicles, as a growing percentage of the global population is now able to buy new cars.

Environmental Regulations could Affect Global Automotive Coatings Market
 

Over the past few years, the global automotive coatings market has experienced fluctuations in production due to the increasingly stringent government regulations pertaining to the use of chemicals that are harmful to the environment. Coatings can be detrimental to human health through inhalation or to the environment as a factor in air pollution, or through the environmental effects of the waste products formed during their manufacture.

One of the greater moves in the global automotive coatings market is the adoption of waterborne coatings after the heavy restrictions imposed on the use of volatile organic compounds (VOCs) due to the harmful effects they can have on human and environmental health. Currently, waterborne coats are steadily gaining preference in the global automotive industry. At the same time, the future of the global automotive coatings market is said to be in UV and powder coatings, due to their extremely eco-friendly nature.

Asia Pacific Dominates Global Automotive Coatings Market
 

The Asia Pacific regional segment is currently the largest automobile manufacturer. Therefore, the demand for automotive coatings is proportionally high from Asia Pacific. Asia Pacific is expected to continue its dominance in the global automotive coatings market over the coming years. Europe follows Asia Pacific and is the second largest regional segment of the global automotive coatings market in terms of demand. Although North America is currently in third place, it could surpass Europe over the forecast period to be the second largest region in the global automotive coatings market.Key companies in the global automotive coatings market are Royal DSM, Beckers, Bayer, AkzoNobel, Sherwin-Williams, Axalta Coating Systems, and PPG Industries.

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