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Automotive Specialty Coatings Market to Reach 3.75 Bn USD by 2025: M&M

Published on 2018-07-30. Author : SpecialChem

TAGS:  Automotive Coatings     Polyurethane Coatings    

According to a MarketsandMarkets report, the automotive specialty coatings market is estimated to be USD 3.02 billion in 2018 and is projected to reach USD 3.75 billion by 2025, at a CAGR of 3.12%, from 2018 to 2025.

The growing vehicle production, increasing premium vehicle sales, and the increasing adoption rate of AMTs are projected to drive the automotive specialty coatings market and the advancements in the coating technology.

Automotive Specialty Coatings Market to Reach 3.75 Bn USD by 2025
Automotive Specialty Coatings Market to Reach 3.75 Bn
USD by 2025

Largest Demand for Polyurethane Resin


Polyurethane-based coating is widely used in automotive applications because of its excellent properties such as good elasticity at low temperatures, abrasion resistance, solvent and water resistance, and dry clean and machine wash abilities. Polyurethane resins are mostly used to provide high gloss and scratch resistance to plastic parts that are mostly used in a car’s interior applications.

Moreover, polyurethane resins are also used in metals for applications such as engine & exhaust, transmission, and wheel rims as polyurethane provides corrosion resistance to various metal parts. These applications are the largest for specialty coatings, and mostly polyurethane is used in these applications. Hence, polyurethane resin-based coatings market has the largest share of the automotive specialty coatings market, by resin type.

Transmission Segment to have Fastest Growth


The transmission application segment is projected to grow at the fastest growth rate during the forecast period. The amount of coating required for transmission in Europe and North America is higher as Dual Clutch Transmission (DCT) and Automatic Transmission (AT) are preferred in these regions. So, the number of components that require coating also increases.

The amount of coating required for transmission in Asia Oceania and RoW is less as manual transmission is mostly used in these regions, which has less number of components. However, due to the shifting preference toward AMTs all over the world, the amount of coating required for transmission is also expected to increase due to which transmission is the fastest automotive specialty coatings market.

The automotive specialty coatings market consists of manufacturers such as: PPG (US), Axalta (US), AkzoNobel (Netherlands), BASF (Germany), Sherwin Williams (US), Kansai (Japan), Covestro (Germany), Solvay (Belgium), DOW Chemical (US), Nippon Paint (Japan), and KCC (South Korea).


Source: MarketsandMarkets
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