The global hi-tech paints and coatings for autonomous vehicles market drug market is expected to grow at a significant CAGR during the forecast period (2024-2031). The major factors propelling the growth of the global hi-tech paints and coatings for autonomous vehicles market include rising government initiatives for road safety and rising demand for autonomous vehicles (L4 and L5). According to World Health Organization (WHO), around 1.2 million individuals die and approximately 50 million people get injured due to road traffic accidents every year. Additionally, the advanced properties of hi-tech paints and coatings compared to traditional coatings will propel the growth of the market.
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The global economy, particularly the automobile sector, has been hit hard by the COVID-19 pandemic. This is attributed to the instability of the automotive supply chain and production globally. Additionally, the rising demands of LiDAR will propel the growth of the market. The term “Light Detection and Ranging” refers to a sensor technology that can generate a map of the area around a person.
The key players contributing to the growth of the global hi-tech paints and coatings for autonomous vehicles market by adopting various strategies such as product launches & developments, mergers and acquisition, partnerships, and agreements, include Axalta Coating Systems, AccuCoat Inc., AkzoNobel N.V., Abrisa Technologies, BASF SE, among others. For instance, in July 2021, a leading player in liquid and powder coating solutions, Axalta Coating Systems showcased its coating solutions for autonomous vehicles at the 31st International Conference on Automotive Body Finishing (SURCAR).
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Market Coverage
- Segment Covered-
o By Application Type
o By Product Type
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Axalta Coating Systems, AccuCoat Inc., AkzoNobel N.V., Abrisa Technologies, BASF SE, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Hi-Tech Paints and Coatings for Autonomous Vehicles by Segments
By Application Type
- Pigment for Exterior Paint
- Window Glass
- Windshield
- Infotainment System
- Optical Component
- LiDAR
- Camera
By Product Type
- Pigments for Basecoat
- Anti-Reflective Coatings
- Anti-Fingerprint Coatings
- Self-Cleaning Coatings
- Others
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