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    North America Automotive Coatings Market Size By Application (Metals, Plastic), By End-Use (Light Vehicle OEM, Commercial OEM, Automotive Refinish), By Technology (Solvent borne, Waterborne, UV – Cured), By Product (Primer, Electrocoat, Basecoat, Clearcoat), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026
    Published Date: May 2021   |   Report ID: GR1805   |   Delivery: PDF  Request Free Sample

    North America Automotive Coatings Market size crossed USD 4.5 billion in 2019 and is anticipated to expand at 4.5% CAGR from 2020 to 2026.

    North America Automotive Coatings Market

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    Automotive coatings are applied on vehicles such as cars, motorcycles, truck, and buses for a layer of protection as well as aesthetic purposes. Automotive coatings comprise of different types such as body coat, primer, base coat, and clearcoat which protect vehicle surface from air, wind, rain, snow, humidity, and UV radiation. Based on emulsions, there are two types of automotive coatings: water-based and solvent-based automotive coatings. Solvent based automotive coatings contains volatile organic compounds and water-based automotive coatings are free from volatile organic compounds.

    Rising use of coatings for protecting car from various external factors and offering a pleasant appearance to the vehicle has driven the demand for automotive coatings in North America. Also, consumer emphasize on adopting chemical free paints and coatings is likely to boost the demand for water-based automotive coatings as these do not contain VOCs.

    North America Market, By Product

    Electrocoat is an immersion painting method used for painting vehicle body. Electrocoat has been popular among vehicle manufacturers owing to its ability to paint and coat a wide range of complex parts and high uniformity of coating. Adoption of electrocoating technology has also been driven by increasing utilization of fast coating methods in factories which help in improving manufacturing speed.

    Growing deployment of immersion painting techniques for commercial as well as passenger vehicle painting in United States and Canada will accelerate the demand for automotive electrocoating. 

    North America Market, By Application

    Depending upon applications, the metal segment is estimated to register highest growth of nearly 4.5% through 2026. Automotive coatings used on metal surface plays a key role in offerings protection against UV, corrosion, humidity, rain, snow, and moisture. The demand for effective metal coatings has increased owing to increasing focus by manufacturers on providing extra layer of protection to vehicle surfaces.

    Automotive coatings are applied on metal surfaces as these prevent damage caused by solvents, environmental factors, and chemicals. The utilization of automotive coatings on metal surface is anticipated to be fuelled by growing importance on protecting vehicle surface.

    North America Market, By End-Use

    In terms of end uses, the commercial OEM segment will observe around 4.4% growth rate during the forecast period. Growing popularity of light weight trucks and light commercial vehicles in United States and Canada has been driving the commercial vehicle industry. Such rise in the demand for commercial vehicles has bolstered the production levels of commercial vehicles in North America, boosting the consumption of automotive paints and coatings.

    The number of heavy trucks produced as increased from nearly 543 thousand in 2018 to over 583 thousand in 2019. This increase in the production of commercial vehicles is owing to rising logistics and transportation and travelling industry. Further, increase in the adoption of advance coating technologies for providing surface protection will fuel the market demand for commercial vehicles.

    Competitive Industry Landscape

    Key market players include BASF SE, Lord Corporation, Solvay S.A., Axalta Coatings Systems LLC, Bayer AG, AkzoNobel N.V., PPG Industries, Inc., Clariant, Arkema SA, The Sherwin-Williams Company, and Eastman Chemical Company.

    Coating manufacturers are investing in new technologies through partnerships and collaborations for extending their products capabilities to cater changing market demands. In 2020, PPG partnered with U.S. Department of Energy (DOE) Lawrence Berkeley National Laboratory (LBNL) for developing energy-efficient coatings systems for vehicle manufacturers.

    Frequently Asked Question(FAQ) :

    What is the expected valuation of the North America automotive coatings market?
    The market for automotive coatings in North America surpassed USED 4.5 billion in 2019 and will expand at a 4.5% CAGR through 2026 with increasing trend for protecting cars and providing a pleasant appearance.
    How will electrocoat products spur North America automotive coating industry outlook?
    The electrocoat segment will witness an appreciable gain by 2026 owing to use of fast coating methods in factories and high uniformity of coating.
    How will metals influence the growth of the North America automotive coatings sector?
    The metal segment will expand at around 4.5% CAGR through 2026 owing to the soaring demand to offer protection against corrosion, UV, moisture, snow and humidity.
    How are commercial OEMs fueling North America automotive coatings segment?
    The commercial OEM segment will expand at a 4.4% CAGR through 2026 due to immense popularity of light commercial vehicles and light weight trucks in the U.S. and Canada.

    Get this research report on North America Automotive Coatings Market customized according to your business requirements.

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