A coating is a layer that is applied to a substrate to provide color and glossiness while also shielding it from the outside environment. The coating also offers protection from rust, UV rays, and temperature changes. Demand for automobile coatings is driven by properties including scratch resistance, substrate compatibility, and environmental friendliness. Manufacturers of new passenger automobiles, light commercial vehicles, and large commercial vehicles all employ automotive OEM coatings.
Moreover, only in the aftermarket, when coatings are added to automobiles after the primary manufacturing process, are automotive refinish coatings utilized. Additionally, there is growing global demand to utilize eco-friendly car coatings. Companies are focusing on the development of automobile coatings with cutting-edge technologies that abide by existing and future environmental standards as a result of rising raw material costs and tightening environmental rules on VOC levels.
While government laws have an impact on research and development spending, the need for automotive paints and coatings is mostly driven by the rising demand for automobiles. The improvements brought about by strict fuel emission rules in terms of production procedures, paint products, and the carbon footprint of the sector. To maximize paint and coating adherence and corrosion resistance, for instance, metal surfaces need to be pre-treated with paint and coatings.
In the near future, many companies will have attractive prospects thanks to the soaring investments to increase car manufacturing. For instance, luxury automakers are increasing their presence in Brazil, India, and Indonesia, three rising economies with sizable middle- and upper-class populations. The demand for vehicles and related goods, such as coatings and accessories, has also increased in these developing economies due to the rise in macroeconomic and disposable income growth in such countries.
Furthermore, interior automobile coatings provide the surface an aesthetic boost and add tangible qualities to exude comfort and elegance. To stop metal from rusting, numerous measures are used while applying these coatings. The base coat, priming stages, and clearcoat are all included in the coating process. The clear coat is used to give a transparent and glossy finish. The automotive coating is widely used in the automotive industry to enhance the vehicle’s look and performance.
Without pigments, a clear coat of vehicle paint is either paint or resin that gives the car no color. Simply put, the colored resin is covered with a layer of transparent resin. The clear coat coating is present in almost all modern automobiles. Contrary to common perception, regular automobile waxing is necessary to preserve a car in excellent condition, even if it has been coated with a clear coat. An automobile that has been routinely detailed can be distinguished from one that has not.
Moreover, the automobile will look shinier and more opulent thanks to clear car paint, which also gives the appearance that the paint is wetter and deeper. There are other practical benefits, though, that are more significant. One significant benefit is that this coating shields against UV radiation from the sun and other sources that can degrade automotive paint. As a result, the paint on your automobile will continue to look fresh.
Market Segmentation by Layer
- Electrocoat
- Primer
- Basecoat
- Clearcoat
Market Segmentation by Technology
- Water-borne Coatings
- Solvent-borne Coatings
- Powder Coatings
- UV-cured Coatings
Market Segmentation by Application
- Metal Parts
- Plastic Parts
Market Segmentation by End User
- Light Vehicle OEM
- Commercial Vehicle OEM
Market Segmentation by Geography
- North America Automotive OEM Coatings market
- By layer
- By technology
- By application
- By end user
- By country – U.S. and Canada
- Europe Automotive OEM Coatings market
- By layer
- By technology
- By application
- By end user
- By country – Germany, Spain, France, U.K., and Rest of Europe
- Asia-Pacific (APAC) Automotive OEM Coatings market
- By layer
- By technology
- By application
- By end user
- By country –China, Japan, India, and Rest of APAC
- Rest of the World (RoW) Automotive OEM Coatings market
- By layer
- By technology
- By application
- By end user
- By country –Mexico, Brazil, Turkey, and Others
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The growth of the can coatings market is driven by the expanding food and beverage industry and increasing recyclability of cans. Because of these factors, the market is expected to register a CAGR of 3.5% during the forecast period. At this rate, the market is projected to increase its revenue from $2,100.6 million in 2017 to $2,588.9 million by 2023. Additionally, the surging demand for can coatings from developing countries holds great growth opportunity for market players.
The market players, such as Akzo Nobel N.V., Kansai Paint Co. Ltd., TIGER Coatings GmbH & Co. KG, Eastman Chemical Company, National Paints Factories Co. Ltd., The Sherwin-Williams Company, VPL Coatings GmbH & Co KG, PPG Industries Inc., and Toyo Ink SC Holdings Co. Ltd., offer can coatings in the unexplored economies of the Latin America (LATAM), Middle East and Africa (MEA), and Asia-Pacific (APAC) regions. The coated cans are used in several industries for packaging, transportation, and selling of different products, as they protect the products from outer environmental factors.
