In 2024, the market size of automotive coatings will exceed 26.5 billion US dollars

According to the latest research report of global market insights, the market size of automotive coatings is expected to exceed US $26.5 billion by 2024 Increasing environmental problems, increasing consumer demand and the concept of environmental sustainability are driving the demand for low VOC emission vehicles, which may promote the growth of automotive paint market Consumer demand for sports aesthetics and vehicle styles and for UV, chemical, corrosion and durability of automotive coatings is also increasing By 2024, the global market size of waterborne coatings will exceed US $10.5 billion Increased car production and per capita disposable income in China, India, Japan and South Korea could trigger demand for car products Luxury models in increasing demand need protective and glossy coatings to protect vehicles from corrosion, as extreme temperature changes, foreign particles, acid rain and UV radiation will affect automotive coatings The U.S automotive coatings market share based on metal applications is likely to grow significantly by more than 3.5% over the forecast period Due to the improvement of living standards and the constant change of consumers' aesthetic characteristics of simplicity, the demand for luxury cars is increasing, resulting in the increase of market scale By 2024, the demand for plastic applications in the German automotive coatings market is expected to reach 542.4 million US dollars The EU's strict regulations on VOC emissions and lower operating costs will lead to market growth People's awareness of green environmental protection products and low toxic products is constantly improving, which may promote product demand India's automotive touch up paint industry is likely to grow by more than 5% at the end of the forecast period An increasing trend in technology to improve fuel efficiency by reducing vehicle weight is likely to boost market growth India has a lot of big car production bases Most automakers, including Tata, Fiat, Skoda, Toyota, Hyundai and Audi, have moved to India because of their affordable workforce The increasing demand for luxury cars with high requirements for protection and aesthetics may accelerate the market share of automotive coatings Major automotive coatings and raw materials manufacturers include Clariant, Nippon, BASF, Sherwin Williams, Arkema, kkc, Berger paints, Cabot Corporation, Solvay and Kansai paints.