Automotive Coatings Market Size to Hit $37.4 Billion by 2032 | Trends, Growth Drivers & Opportunities

The global automotive industry has witnessed steady growth in vehicle production and ownership.

WILMINGTON, DE, UNITED STATES, August 21, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, “Automotive Coatings Market By Resin Type (Epoxy, Acrylic, Polyurethane, and Others), Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Technology (Solvent-Borne, Water-Borne, Powder Coating, and UV Cured Coatings): Global Opportunity Analysis And Industry Forecast, 2023-2032". According to the report, the global automotive coatings industry generated $18.8 billion in 2022 and is estimated to reach $37.4 billion by 2032, witnessing a CAGR of 7.2% from 2023 to 2032.

Prime determinants of growth

Emerging economies, particularly in Asia-Pacific, have witnessed significant growth in vehicle ownership and production. These regions contribute significantly to the growth of the automotive coating market due to increased vehicle usage. The growth of quick lube centers and vehicle maintenance services has made it convenient for vehicle owners to get regular oil changes and lubricant replacements, driving demand for coatings. In the coming years, it is expected that this will offer various opportunities for the market for automotive coatings.

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Report coverage & details:
Forecast Period 2023–2032
Base Year 2022
Market Size In 2022 $18.8 Billion
Market Size In 2032 $37.4 Billion
CAGR 7.2%
No. Of Pages In Report 400
Segments Covered Resin Type, Vehicle Type, Technology, And Region.
Drivers Robust Use Of Automotive Coating In The Automotive Industry
Advancements In Technology And High Production Of Vehicles
Opportunities Development Of Automotive Coatings And Refinishing And Emerging Markets
Restraints Rise In Health Concern And Environmental Impact

The acrylic resin type segment to maintain its leadership status throughout the forecast period

By resin type, the acrylic resin type segment held the highest market share in 2022, accounting for more than two-fifths of the global automotive coatings market revenue and is estimated to maintain its leadership status throughout the forecast period. Acrylic-based coatings are used to provide an excellent topping to metal. This is expected to boost the demand for solvent-based acrylic coatings in the automotive industry. In addition, acrylic coatings are used for general protection from dirt and grime in both indoor and outdoor applications and they tend to form a thin protecting layer on concrete due to which it is widely used in commercial buildings, residential, and non-residential sectors. This is anticipated to increase the sales of solvent-based concrete sealers; thus, creating remunerative opportunities for the market. However, the epoxy segment is projected to manifest the highest CAGR of 7.3% from 2023 to 2032.

The passenger vehicle type segment to maintain its lead position during the forecast period

By vehicle type, the passenger vehicle segment accounted for the largest share in 2022, contributing to half of the global automotive coatings market revenue, and is estimated to maintain its leadership status throughout the forecast period. Development and improvement of road networks, highways, and transportation infrastructure contribute to the convenience and accessibility of passenger cars. Better infrastructure encourages car ownership and usage. Passenger cars offer convenience and flexibility, allowing individuals and families to travel comfortably and at their own pace. This is especially important as people seek to balance work, leisure, and family needs. Automotive coatings are used to protect frame components, interior, and exterior parts. These factors are anticipated to drive the market demand during the forecast period.

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The water-borne technology segment to maintain its lead position during the forecast period

By technology, the water-borne segment accounted for the largest share in 2022, contributing to half of the global automotive coatings market revenue, and is estimated to maintain its leadership status throughout the forecast period. The utilization of water-based epoxy coatings for interior concrete sealing, do-it-yourself (DIY) projects, waterproofing, wall coating, and other applications is the major key market trend in the global market. The growing population has surged the building & construction activities in both developed and developing economies, wherein water-based epoxy coatings are widely used as a protective membrane to prevent rising damps in floors. For instance, according to a report published by the U.S. Census Bureau, the value of construction in 2021 was $1,589.0 billion, which is 8.2% above the $1,469.2 billion spent in 2020. These factors are anticipated to drive the market demand during the forecast period.

Asia-Pacific to maintain its dominance by 2032

By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the automotive coatings market revenue and is estimated to maintain its leadership status throughout the forecast period. Government initiatives and policies to support the automotive industry and related sectors contribute to market growth. For example, incentives for electric vehicles (EVs) and the development of smart and connected vehicles drive the demand for specialized coatings. Japanese consumers place a high value on quality and aesthetics in their vehicles. The demand for coatings that offer premium finishes and customization options aligns with consumer preferences in the Japanese market. In the Indian market, there is often a preference for cost-effective solutions.

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Leading Market Players: -

Arkema
AkzoNobel
PPG Industries Inc
Solvay
Clariant AG
Nippon Paint Holdings Co., Ltd
Kansai Paints Co. Ltd
Axalta Coating Systems LLC.
BASF India Ltd
Cabot Corporation
Beckers Group AB.

The report provides a detailed analysis of these key players in the global automotive coatings market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

David Correa
Allied Market Research
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