Zion Market Research Global Automotive Paints Market, 2016 – 2022 | Page 2

Aquafeed Market
Zion Market Research has published a new report titled “Automotive Paints Market
by Vehicle Type (Light Commercial Vehicles, Heavy Commercial Vehicles, and
Passenger Cars), by Coat Type (Electro Coat, Primer, Basecoat, Clear Coat), by
Technology (Solvent, Waterborne, and Powder Coating), by Texture (Solid and
Metallic) – Global Industry Perspective, Comprehensive Analysis and Forecast,
2016 – 2022”. According to the report, global automotive paints market was valued at
USD 18.5 billion in 2016, is expected to reach USD 25.7 billion by 2022 and is
anticipated to grow at a CAGR of 5.2% between 2016 and 2022.
Global automotive paints market has been witnessing robust growth over the past few
years owing to increase vehicle production in countries including China, India, Japan,
Indonesia, South Korea, U.S., and Germany along with the aging of vehicles. This trend
is expected to continue over the forecast period. Furthermore, demand for automotive
paints is expected to grow on account of increasing demand for innovative and
specialty products in the automobile sector. Additionally, rising demand for eco-friendly
coatings such as powder coatings, UV-cured coatings, and waterborne coatings in
emerging economies is anticipated to boost the market in coming years. However, key
raw materials like titanium oxide, pigments, additives, and resins face supply imbalance
and price variations, which may affect costing and result in the upswing of automotive
paints market prices.