Global Film Coating Agent for Automotive Market
Global Film Coating Agent for Automotive Market was valued at USD 4,651.22 million in 2022 and is slated to reach USD 9,360.82 million by 2030 at a CAGR of 8.36% from 2023-2030.
A chemical known as a film coating agent for automotive application is used to coat the surface of automotive parts with a thin, protective layer. Protection from corrosion, increased durability, improved look, reduced glare, increased heat resistance, and improved adherence of other coatings are just a few advantages that this film can offer.
Market Drivers
The Global Vehicle sales have increased from 78.7 million Units in 2020 to 82.6 million units in 2021. Of these sales of passenger cars were 53 million Units in 2020, which increased to 53.6 million units in 2021. Similar trends are witnessed with increasing population, purchasing power, improving lifestyles & standard of living, and developing infrastructure across the globe that is expected to boost the film coating agent for automotive market industry. EVs are expected to play a key part in the goal of zero emissions objectives set for 2050, for which the industry is preparing. The increased investments in various technological, infrastructural, and R&D Sectors have necessitated coating manufacturers to supply qualitative products to these end users, to capitalize on the increased demand in every region.
Market Restraints
Price and availability of raw materials are key factors for Film Coating manufacturers in deciding their cost structure and future investments. The key raw materials used in film coatings are resins, additives, and solvents obtained through petroleum distillates. Prices for these materials have been highly volatile, the coating manufacturing industry gets affected by higher-by-higher transport costs driven by inconsistent fuel prices, and higher manufacturing costs resulting from increasing energy costs. Such instability in raw materials costs with regulatory pressure from governmental organizations poses risks to profit margins of automotive coating manufacturers. To maintain profit Margins, the production costs are expected to be transferred to automobile manufacturers and subsequently, customers. The need for better performance coating has been driven by many factors, such as increasing demand for premium cars, preference for colors with trendy colors and demand for durable coatings. This has led to higher production costs, for both coatings and high manufacturers. Film Coating agent for automotive manufacturers have to balance fluctuating raw material prices, innovative products with Color variation and increased durability with decreased emissions.
Covid-19 Impact
The COVID-19 pandemic, that began in China and spread throughout the world, and had a drastic impact on the Global Film Coating Agent for Automotive Market. COVID-19 affected the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
COVID-19 has had a truly global impact, where supply chain has faced multiple fractures – at component suppliers, at manufacturing sites and in the ‘last mile’ to the customer. With the pandemic sparking a major global recession, demand and prices for most industrial commodities have been driven lower.
Global Film Coating Agent for automotive market fell into the trap of chain reaction as the global market for all kinds of automobiles was affected due to the covid 19 Pandemic, and the subsequent economic collapse.
Recent Development
In July 2022, BASF SE launched a new range of film coating agents for automotive applications. The new range is said to offer improved performance and durability.
In June 2022, Axalta Coating Systems announced the acquisition of Covestro's automotive film coating business. The acquisition is expected to strengthen Axalta's position in the global film coating market.
In May 2022, PPG Industries launched a new film coating agent for automotive applications. The new film coating agent is said to offer improved scratch resistance and UV protection.
Market Segmentation
Global Film Coating Agent for Automotive Market is segmented into By Type, Ceramic Coating, Polymer Coating, Others. By Application such as Commercial Vehicle, Passenger Cars.
Regional Analysis
In terms of market share in 2022, North America will continue to dominate the automotive film coating agent industry. This is brought on by the fact that the area is home to numerous automakers, including General Motors, Ford, and Fiat Chrysler Automobiles. The market expansion in this area is also being fueled by the rising demand for passenger automobiles and light commercial vehicles. The second-largest market for film coating agents for the automotive industry is Europe. The market in this region is expanding as a result of rising acceptance of sophisticated safety features in automobiles and rising demand for electric vehicles.
Key Players
This report includes a list of numerous Key Players, 3M, Avalon King, CarPro, CQuartz, ONYX Coating, Gtechniq, Nanolex, Optimum.
Market Taxonomy
By Type
By Application
By Region
Global Film Coating Agent for Automotive Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Film Coating Agent for Automotive Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Film Coating Agent for Automotive Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Film Coating Agent for Automotive Market Share Analysis, By Type
5.3 Global Film Coating Agent for Automotive Market Size and Forecast, By Type
5.3.1 Ceramic Coating
5.3.2 Polymer Coating
5.3.3 Others
6 Global Film Coating Agent for Automotive Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Film Coating Agent for Automotive Market Share Analysis, By Application
6.3 Global Film Coating Agent for Automotive Market Size and Forecast, By Application
6.3.1 Commercial Vehicle
6.3.2 Passenger Cars
7 Global Film Coating Agent for Automotive Market, By Region
7.1 Global Film Coating Agent for Automotive Market Share Analysis, By Region
7.2 Global Film Coating Agent for Automotive Market Size and Forecast, By Region
7.3 Global Film Coating Agent for Automotive Market Trends and Forecast, By Region
8 North America Film Coating Agent for Automotive Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Film Coating Agent for Automotive Market Size and Forecast, By Type
8.3 North America Film Coating Agent for Automotive Market Size and Forecast, By Application
8.4 North America Film Coating Agent for Automotive Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Type
8.4.1.2 Market Size and Forecast, By Application
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Type
8.4.2.2 Market Size and Forecast, By Application
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Type
8.4.3.2 Market Size and Forecast, By Application
9 Europe Film Coating Agent for Automotive Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Film Coating Agent for Automotive Market Size and Forecast, By Type
9.3 Europe Film Coating Agent for Automotive Market Size and Forecast, By Application
9.4 Europe Film Coating Agent for Automotive Market Size and Forecast, By Country
9.4.1.1 Market Size and Forecast, By Type
9.4.1.2 Market Size and Forecast, By Application
9.4.2 France
9.4.2.1 Market Size and Forecast, By Type
9.4.2.2 Market Size and Forecast, By Application
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Type
9.4.3.2 Market Size and Forecast, By Application
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Type
9.4.4.2 Market Size and Forecast, By Application
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Type
9.4.5.2 Market Size and Forecast, By Application
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Type
9.4.6.2 Market Size and Forecast, By Application
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Type
9.4.7.2 Market Size and Forecast, By Application
10 Asia Pacific Film Coating Agent for Automotive Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Film Coating Agent for Automotive Market Size and Forecast, By Type
10.3 Asia Pacific Film Coating Agent for Automotive Market Size and Forecast, By Application
10.4 Asia Pacific Film Coating Agent for Automotive Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Type
10.4.1.2 Market Size and Forecast, By Application
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Type
10.4.2.2 Market Size and Forecast, By Application
10.4.3 India
10.4.3.1 Market Size and Forecast, By Type
10.4.3.2 Market Size and Forecast, By Application
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Type
10.4.4.2 Market Size and Forecast, By Application
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Type
10.4.5.2 Market Size and Forecast, By Application
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Type
10.4.6.2 Market Size and Forecast, By Application
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Type
10.4.7.2 Market Size and Forecast, By Application
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Type
10.4.8.2 Market Size and Forecast, By Application
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Type
10.4.9.2 Market Size and Forecast, By Application
11 Latin America Film Coating Agent for Automotive Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Film Coating Agent for Automotive Market Size and Forecast, By Type
11.3 Latin America Film Coating Agent for Automotive Market Size and Forecast, By Application
11.4 Latin America Film Coating Agent for Automotive Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Type
11.4.1.2 Market Size and Forecast, By Application
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Type
11.4.2.2 Market Size and Forecast, By Application
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Type
11.4.3.2 Market Size and Forecast, By Application
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Type
11.4.4.2 Market Size and Forecast, By Application
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Type
11.4.5.2 Market Size and Forecast, By Application
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Type
11.4.6.2 Market Size and Forecast, By Application
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Type
11.4.7.2 Market Size and Forecast, By Application
12 Middle East Film Coating Agent for Automotive Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Film Coating Agent for Automotive Market Size and Forecast, By Type
12.3 Middle East Film Coating Agent for Automotive Market Size and Forecast, By Application
12.4 Middle East Film Coating Agent for Automotive Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Type
12.4.1.2 Market Size and Forecast, By Application
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Type
12.4.2.2 Market Size and Forecast, By Application
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Type
12.4.3.2 Market Size and Forecast, By Application
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Type
12.4.4.2 Market Size and Forecast, By Application
12.4.5.1 Market Size and Forecast, By Type
12.4.5.2 Market Size and Forecast, By Application
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Type
12.4.6.2 Market Size and Forecast, By Application
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 3M
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Avalon King
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 CarPro
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 ONYX Coating
14.4.1 Overview
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Gtechniq
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Nanolex
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Optimum
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 PPG Industries
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
