The global automotive paints market is anticipated to grow at a significant CAGR of 4.2% during the forecast period. Government support to the automobile industry has been provided in a variety of forms, including subsidies to firms and direct involvement in industry restructuring plans. The increasing demand for automobiles results in increasing demand for automobile production is driving the growth of the automotive paint market over the forecast. According to India Brand Equity Foundation, in October 2021, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles reached 2,214,745 units. Moreover, the automotive mission plan 2016-26 is a mutual initiative by the government of India and the Indian automotive industry to lay down the roadmap for the development of the industry, which will support the automotive paints market over the forecast. In 2020, India was the fifth-largest auto market, with ~3.49 million units combined sold in the passenger and commercial vehicles categories. It was the seventh-largest manufacturer of commercial vehicles in 2019.
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The life-threatening effects of the COVID-19 Pandemic have intensely affected peoples, their working style, and lifestyles. Almost every industry across the globe has been suffering through the pandemic. One of the impacts of the Covid-19 has been the disruption in the global supply chain, with prices of raw material (RM), as well as freight and logistics, cost turning skywards. COVID-19 has had a major impact on the automotive paint market over the last two years. The supply chain across the industry was disturbed and due to lockdown, the production of automobiles was stopped, resulting in diminishing growth of the market over the forecast. Additionally, the shutdown of other supporting sectors has also affected the automotive paints industry.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Automotive Paints Market by Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Passenger Cars
Global Automotive Paints Market by Paint Type
- Primer
- Basecoat
- Clearcoat
- Electrocoat
6 Global Automotive Paints Market by Technology
- Water Borne
- Solvent Borne
- Powder
Global Automotive Paints Market by Texture
- Solid
- Metallic
- Matte
Global Automotive Paints Market by Painting Equipment
- Airless Spray Gun
- Electrodtstic Spray Gun
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Akzo Nobel
- Covestro AG
- Cresta India Pvt. Ltd.
- DuPont de Nemours, Inc.
- Fabula Coatings India Pvt. Ltd.
- Jotun A/S
- Kansai Paint Co., Ltd.
- Kwality Paints and Coatings Pvt. Ltd.
- Nippon Paint Holdings Co. Ltd.
- PPG Industries, Inc.
- Sheenlac Paints Ltd.
- The Sherwin-Williams Co.
- The Solvay Group
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive paints market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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