Automotive coatings coat automobile surfaces with advanced technologies that produce durable surfaces and a high-quality appearance while maximizing efficiency and meeting environmental regulations. According to BlueQuark Research & Consulting, the global automotive coatings market will likely witness considerable growth during the forecasted period. Factors such as the surging production of vehicles owing to the growing need from consumers are the critical factor for propelling the Automotive coatings market growth in the forecasted period. Further, the increasing demand for water-borne technology will likely boost the need for the automotive coatings market in the forecasted period. Furthermore, the expanding demand for refinishing of vehicles globally owing to vehicle repair and maintenance raises the need for paints and coatings, which is expected to drive the demand for Automotive coatings market growth in the forecasted period. However, several crude materials, including acrylics, titanium dioxides and pigments used in manufacturing these coatings, are difficult to obtain from petroleum-based chemicals. The pricing of such materials fluctuates. Thus, such complications in raw materials sourcing are primarily impeding the growth of the automotive coating market.

Coatings are extensively used in automotive industries in modern designs of headlamps that are made of blow molding compounds (BMC) for headlamp reflectors that are covered by a polycarbonate lens. Both the parts are coated mainly by UV coatings. Moreover, automotive coatings have significantly reduced corrosion protection, resulting in a long-lasting appearance. 

The growth of the global automotive market is the growing number of electric vehicles (EVs) due to increasing environmental concerns in various countries. The market is also propelled by the rising adaptation of luxury vehicles owing to improving living standards demand. Automotive Coating is mainly utilized for protection and decoration. The Automotive coatings are applied in various steps to preserve metal from rust. The coating application contains the primer steps, clear coat and base coat, which provide transparent and glossy Coating. It is the ability to withstand the UV rays. Automotive Coating broadly finds its application in the automobile industry to enhance the appearance and performance of a vehicle. These factors may enhance the market demand for automotive coatings. Application on plastic parts and surfaces is expected to gain importance owing to lightweight, design flexibility, corrosion resistance, cost reduction, excellent durability, and recyclability. The increasing carbon fiber and composites usage in vehicle manufacturing will stimulate industry demand over the forecast period. Factors like protection from corrosion, cost-cutting in production to ease bulk manufacturing, enhanced aesthetics, meeting the ecological and governing standards and maintenance and its characteristics, and improved robustness and performance may critically influence the development and application of various innovative coatings in the Automotive Coatings Market. The relative putting of these market factors is excessive, and the superiority of a single element at an outlay of the other feature is inconceivable. Developments in manufacturing technologies and paint formulations are added to the extension of these coating substances and have determined the application of automotive coatings. The growing production of vehicles due to the increasing need from consumers is the factor driving the market growth. In addition, the growing industrialization is driving the demand for commercial vehicle, and increasing adaption of the automotive coatings by end users are the factors applying a positive outlook on the market growth.

The Asia Pacific region was the most significant global automotive coatings market since most of the automotive production occurs in the area. Major countries in the title of automotive coatings in the region include India, China, and Japan, among others. It is awaited that the Asia-Pacific region will witness the highest market growth during the forecasted period. Though solvent-borne technology currently accounts for a significant market share, it is expected to witness a sluggish growth rate during the forecast period. The continuously evolving environmental standards result in a growing demand for water-based automotive coatings. The water-based coatings are similar to the solvent-based coatings in pigments and binders, but they differ in carrying agents. Mild co-solvent reducers and additives have been introduced to improve water-based coatings' performance and drying times. Polyurethane is the widely utilized product type of automotive coatings. Polyurethane coatings offer resistance against corrosion and abrasion. They are used extensively in automotive clear coats and can be applied as water-borne and solvent-borne formulations. The polyurethane segment will dominate the automotive coatings market during the forecast period. Epoxy is another critical segment of the global automotive coatings market. Acrylic automotive coatings are water-based and contain lower amounts of volatile organic compounds (VOCs). The feature is estimated to expand rapidly during the forecast period. 

The global automotive coatings market is fragmented. Major market players were Axalta Coatings Systems LLC, BASF SE, PPG Industries, and Akzo Nobel NV, among others.

In June 2020, BASF announced a cooperation agreement with Guangzhou Automobile Group New Energy Co. Ltd. (GACNE), a subsidiary of GAC, to strengthen their strategic partnership further to explore digital coatings solutions for the automotive industry.

In 2021, PPG acquired Hemmelrath's Erlenbach site to nurture its automotive coatings portfolio. This acquisition will help the company enhance its automotive coatings, adding to its formulating and production proficiency. The clearcoat unit uses a fully automated manufacturing technology with faster and shorter manufacturing periods and produces numerous batch sizes of around 25 metric tons.

In 2021, IGL Coatings introduced Eco clear Aegis, a graphene-reinforced anti-corrosion clear coating. This green coating solution is crystalline and can bear and preserve the surface from extreme atmospheric corrosive conditions. The Coating's transparency can recognize the early signs of corrosion, providing the way for faster precautionary measures.

The Global Automotive Coatings Market report provides deep insight into the current and future state of the Automotive Coatings market across various regions. The study comprehensively analyzes the automotive coatings market by segmenting based on Resin Type (Polyurethane, Epoxy, Acrylic, and Other Resin Types), Technology (Solvent-Borne, Water-Borne, and Powder), Application (OEM and Refinish), and Geography (Asia-Pacific, North America, South America, Europe, and the Middle East & Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth, in detail. The study covers & includes emerging market size, trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of prominent companies, including their market shares and projects.