The global automotive paint market size was US$ 10.5 billion in 2021. The global automotive paint market size is forecast to reach US$ 14.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2022 to 2030. 

Automotive paint is a water-based mixture that sprays on the surface of an automobile with the help of a spray gun. These paints are made out of polyurethane-based enamel, protecting the vehicle's surface from environmental harm while improving its appearance. The process of painting a car follows many procedures to ensure that a protective and efficient coating is applied. The automobile's pieces and body panels assemble into a temporary assembly known as body-in-white (BIW). In order to speed up the drying process, automotive paint is applied in a temperature-controlled environment. In addition, in order to preserve the integrity of paintwork for an extended period of time, used in multiple phases of the application.

Factors Influencing Market Growth

• Factors driving the global market include increasing automobile production and rising demand for eco-friendly automotive paints.
• The growing prices of raw materials to manufacture automotive paints may slow down the overall market growth.
• The rise in focus produces cost-effective automotive paints is forecast to offer lucrative growth opportunities for the global market during the forecast period. 

Impact Analysis of COVID-19

The COVID-19 pandemic had a negative impact on the global automotive paints market. Several governments worldwide imposed a lockdown in order to curb the spread of COVID-19. As a result, many automotive industries came to halt owing to the unavailability of raw materials and lack of labor. In addition, people were only buying essentials, which reduced the demand for automobiles. This declined the demand for automotive paints. Additionally, the COVID-19 pandemic suspended many ongoing projects and plans. As a result, the market declined in the production of vehicles and usage of automotive paints.

Regional Insights

The Asia Pacific region garnered the highest share in the market in 2021 and is forecast to retain its dominance during the forecast period. As a result of the rising rate of economic activity and technical progress. In addition, with the increasing development in automobile production in China, India, Indonesia, and other Asian countries in recent years, there has been a surge in demand for automotive paints in the region. The rising demand for coatings has led to the development of more environmentally friendly and better-performing paints. Thus, these factors are forecast to drive the market in the region. 

Leading Competitors

The leading prominent companies profiled in the global automotive paint market are:

• BASF SE
• PPG Industries, Incorporated
• Akzo Nobel N.V
• Axalta Coating Systems, LLC
• The Sherwin-Williams
• Kansai Paint Co., Ltd
• Nippon Paint Holdings Co., Ltd
• DuPont
• Clariant AG
• Solvay S.A.
• Other Prominent Players

Scope of the Report

The global automotive paint market segmentation focuses on Coating, Texture Type, Technology, Painting Equipment, Vehicle Type, and Region.

Segmentation based on Coating

• Primer
• Basecoat
• Clearcoat
• Electrocoat

Segmentation based on Texture Type

• Solid
• Metallic
• Pearlescent
• Others

Segmentation based on Technology

• Waterborne Coatings
• Solvent Borne Coatings
• Powder Coatings

Segmentation based on Painting Equipment

• Airless Spray Gun
• Electrostatic Spray Gun

Segmentation based on Vehicle Type

• Passenger Cars
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America