Global Automotive Coatings Market is estimated to be US$ 23.50 billion by 2030 with a CAGR of 4.50%
Global Automotive Coatings Market accounted for US$ 15.23 billion in 2020 and is estimated to be US$ 23.50 billion by 2030 and is anticipated to register a CAGR of 4.50%. Demand and supply trends in the automotive coatings market are still being driven by coating process innovation and automotive design, with automakers researching materials for building multi-substrate designs and manufacturing light-weight cars. Coating is the most energy- and cost-intensive process in the automobile industry, with the highest environmental imprint. OEMs are constantly working to improve the car coating process while maintaining quality. This has prompted automotive coatings behemoths like PPG Industries, Axalta Coating Systems, and BASF to develop compact painting processes, which are quickly becoming the industry standard for meeting future sustainability goals.
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