Automotive Underbody Coatings Market

Automotive Underbody Coatings Market: Stay up-to-date on the latest trends and opportunities in the automotive underbody coatings market, with insights into market size, competitive landscape, and growth drivers

Protecting Vehicles from Corrosion and Wear

Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-68705 Format: PDF Pages: 275

Report Highlights

According to a research survey conducted by ChemView Consulting, Automotive Underbody Coatings Market is estimated to be worth US$ 15.64 Bn in 2023. The market is expected to grow at a CAGR of 4.30% between 2023 and 2033 to hit US$ 23.83 Bn by 2033 end.

Key Market Trends

Increased Demand for Eco-Friendly Underbody Coatings

With growing concerns over environmental pollution, automotive manufacturers are increasingly seeking eco-friendly alternatives to traditional underbody coatings. This trend is driving the demand for innovative coatings made from sustainable materials that offer superior protection against corrosion and abrasion.

The Future of Automotive Underbody Protection

Nano-coatings are emerging as a game-changing technology in the automotive industry, offering superior protection against corrosion, abrasion, and impact damage. These coatings are formulated with advanced nano-particles that create a highly durable, long-lasting layer of protection that can withstand harsh conditions.

Market Drivers

Growing Sales of SUVs and Pick-up Trucks Propel Automotive Underbody Coatings Market

The increasing popularity of SUVs and pick-up trucks in several regions, including North America and Europe, is driving the growth of the automotive underbody coatings market. These vehicles are more susceptible to damage from rough terrain and off-road driving, which has increased the demand for underbody coatings to protect them from corrosion and other damage. As a result, the sales of automotive underbody coatings are expected to grow significantly in the coming years, especially in regions where these vehicles are popular.

Stringent Environmental Regulations Encourage Adoption of Environment-Friendly Automotive Underbody Coatings

The global automotive industry is facing increasing pressure from regulatory bodies to reduce its carbon footprint and adopt sustainable practices. This has led to the development of environment-friendly automotive underbody coatings that comply with stringent environmental regulations. The adoption of such coatings is expected to increase, as automakers and coating manufacturers are increasingly focused on reducing their environmental impact and meeting sustainability goals.

Segmentation Insights

After conducting a thorough analysis of the Automotive Underbody Coatings Market, we have identified the top three trending segments in the industry. These segments are witnessing high demand, strong market growth, and widespread adoption. Here are the top three segments, presented in a professional and attractive manner:

Most Popular (Fastest Growth Rate)

Solvent-Based Coatings – OEMs

Solvent-Based Coatings have emerged as the most popular choice in the Automotive Underbody Coatings Market for OEMs. These coatings offer excellent corrosion protection, durability, and ease of application, making them an ideal choice for original equipment manufacturers. The high-quality performance and reliable formulation of Solvent-Based Coatings make them the preferred choice for consumers seeking efficient and long-lasting underbody coatings for their vehicles.

Most Selling (Largest Market Share)

Bitumen-Based Coatings – Commercial Vehicles

Bitumen-Based Coatings are the most selling product in the Automotive Underbody Coatings Market for Commercial Vehicles. These coatings offer exceptional resistance to abrasion, impact, and corrosion, making them ideal for use in heavy commercial vehicles such as HCVs and LCVs. The high-performance and long-lasting protection of Bitumen-Based Coatings make them the go-to choice for consumers seeking reliable and effective underbody coatings for their commercial vehicles.

Trending (Gaining Traction)

Resin-Based Coatings – Aftersales Market

Resin-Based Coatings are gaining significant traction in the Automotive Underbody Coatings Market for the Aftersales Market. These coatings offer excellent adhesion, flexibility, and resistance to chemicals, making them an ideal choice for aftermarket applications such as repair and maintenance of vehicles. The high-quality performance and versatility of Resin-Based Coatings make them the trending choice for consumers seeking cost-effective and reliable underbody coatings for their vehicles.

Regional Insights

Driving Demand: Europe Automotive Underbody Coatings Market on the Rise

The automotive underbody coatings market in Europe is expected to experience significant growth in the coming years due to a combination of factors. Firstly, with the increasing focus on reducing carbon emissions, automotive manufacturers are incorporating more lightweight materials in their vehicles, leading to greater vulnerability to corrosion. This is driving demand for high-performance coatings that can protect the underbody from rust and damage caused by exposure to harsh environmental conditions.

Growing Automotive Production in Asia Pacific Region Driving Demand for Underbody Coatings

The Asia Pacific automotive underbody coatings market is expected to experience significant growth in the coming years due to the increasing production of automobiles in the region. The demand for underbody coatings is rising as they provide corrosion protection and sound insulation to the vehicles. The surge in vehicle sales in countries like China, India, and Indonesia, along with the growing awareness among customers about the importance of vehicle maintenance, is driving the market’s growth.

Report Includes

Research Scope/Taxonomy
Market Analysis by End Use:

  • OEM
  • Aftersales Market

Market Analysis by Coating Type:

  • Solvent-Based
  • Bitumen-Based
  • Resin-Based
  • Wax-Based
  • Water Based

Market Analysis by Coating Method,:

  • Spray applied
  • Brush applied

Market Analysis by Vehicle Type:

  • Passenger cars
  • Commercial Vehicles
  • HCV
  • LCV

Analyst Credentials

Key Companies Profiled

  • 3M
  • AkzoNobel NV
  • Henkel Corporation
  • Sika AG
  • Mallard Creek Polymers
  • The Sherwin-Williams Company
  • Henry Company
  • PPG
  • Covestro AG
  • Daubert Chemical Company

1.1. Global Market Snapshot

1.2. Key Success Factors

1.3. Strategic Analysis and Recommendations

2.1. Market Taxonomy

2.2. Market Definitions

3.1. Preliminary Investigation & Research Design

3.2. Secondary Research & Primary Research

3.3. Data Analysis & Econometric Modelling

3.4. Expert Data Validation

4.1. Supply-Side Trends

4.2. Demand-Side Trends

5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032

5.2. Incremental $ Opportunity Index, 2022-2032

5.3. Global Market Volume (Tons) Analysis, 2017 – 2032

6.1. Regional Level Pricing Analysis and Forecast

6.1.1. Manufacturers Level Pricing

6.1.2. Distributor Level Pricing

6.2. Global Pricing Analysis Benchmark

6.3. Cost Breakdown Analysis

7.1. Cross Analysis of Coating Type W.R.T. End Use

8.1. Regional Supply Vs. Demand Gap Assessment

8.2. Top Producing Countries Analysis

9.1. Macroeconomic Factors

9.2. Forecast Factors

9.3. Market Dynamics

9.3.1. Driver

9.3.2. Restraint

9.3.3. Opportunity

9.4. Supply Chain Analysis

9.4.1. List Raw Material Suppliers

9.4.2. List of Manufacturers

9.4.3. List of Distributors

9.4.4. List of End-Users

9.4.5. End-Users Consumption Analysis

9.4.6. Average Profitability Margin Analysis

9.5. Covid-19 Impact Assessment

9.5.1. Economy/Cluster Projections

9.5.2. Covid-19 Economic Assessment

9.5.3. Impact on Target Market

9.5.4. Recovery Scenario

9.6. Regulatory Framework

9.6.1. Regulations of Key Countries

9.6.2. Potential Impact of Regulations

9.7. Porter’s Five Forces Analysis

9.8. Technology Landscape

10.1. Introduction

10.2. Key Market Trends

10.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End Use [Value (US$ Mn) and Volume (Tons) Analysis]

10.3.1. OEM

10.3.2. Aftersales Market

10.3.3. Conical Diamond Wires

10.4. Market Attractiveness Analysis by End Use

11.1. Introduction

11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Coating Type [Value (US$ Mn) and Volume (Tons) Analysis]

11.2.1. Solvent-Based

11.2.2. Bitumen-Based

11.2.3. Resin-Based

11.2.4. Wax-Based

11.2.5. Water Based

11.3. Market Attractiveness Analysis by Coating Type

12.1. Introduction

12.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Coating Method [Value (US$ Mn) and Volume (Tons) Analysis]

12.2.1. Spray applied

12.2.2. Brush applied

12.3. Market Attractiveness Analysis by Coating Method

13.1. Introduction

13.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Vehicle Type [Value (US$ Mn) and Volume (Tons) Analysis] Passenger cars

13.3. Commercial Vehicles

13.4. HCV

13.5. LCV

13.6. Attractiveness Analysis by Vehicle Type

14.1. Introduction

14.2. Key Market Trends

14.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]

14.3.1. North America

14.3.2. Latin America

14.3.3. Europe

14.3.4. Asia-Pacific

14.3.5. Middle East

14.3.6. Africa

14.4. Market Attractiveness Analysis by Region

15.1. Introduction

15.2. Key Market Trends

15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

15.3.1. By Country U.S. Canada

15.3.2. By End Use

15.3.3. By Coating Type

15.3.4. By Coating Method

15.3.5. By Vehicle Type

15.4. Market Attractiveness Analysis

15.4.1. By Country

15.4.2. By End Use

15.4.3. By Coating Type

15.4.4. By Coating Method

15.4.5. By Vehicle Type

16.1. Introduction

16.2. Key Market Trends

16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

16.3.1. By Country Brazil Mexico Rest of Latin America

16.3.2. By End Use

16.3.3. By Coating Type

16.3.4. By Coating Method

16.3.5. By Vehicle Type

16.4. Market Attractiveness Analysis

16.4.1. By Country

16.4.2. By End Use

16.4.3. By Coating Type

16.4.4. By Coating Method

16.4.5. By Vehicle Type

17.1. Introduction

17.2. Key Market Trends

17.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

17.3.1. By Country Germany Italy France UK Spain Netherlands Norway Russia Rest of Europe

17.3.2. By End Use

17.3.3. By Coating Type

17.3.4. By Coating Method

17.3.5. By Vehicle Type

17.4. Market Attractiveness Analysis

17.4.1. By Country

17.4.2. By End Use

17.4.3. By Coating Type

17.4.4. By Coating Method

17.4.5. By Vehicle Type

17.4.6. By End Use

17.4.7. By Coating Type

18.1. Introduction

18.2. Key Market Trends

18.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

18.3.1. By Country China Japan South Korea India Indonesia Thailand Vietnam Australia & New Zealand Rest of Asia-Pacific

18.3.2. By End Use

18.3.3. By Coating Type

18.3.4. By Coating Method

18.3.5. By Vehicle Type

18.4. Market Attractiveness Analysis

18.4.1. By Country

18.4.2. By End Use

18.4.3. By Coating Type

18.4.4. By Coating Method

18.4.5. By Vehicle Type

19.1. Introduction

19.2. Key Market Trends

19.3. Pricing Analysis

19.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

19.4.1. By Country Saudi Arabia Turkey U.A.E. Rest of the Middle East

19.4.2. By End Use

19.4.3. By Coating Type

19.4.4. By Coating Method

19.4.5. By Vehicle Type

19.5. Market Attractiveness Analysis

19.5.1. By Country

19.5.2. By End Use

19.5.3. By Coating Type

19.5.4. By Coating Method

19.5.5. By Vehicle Type

20.1. Introduction

20.2. Key Market Trends

20.3. Pricing Analysis

20.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]

20.4.1. By Country South Africa Nigeria Egypt Rest of Africa

20.4.2. By End Use

20.4.3. By Coating Type

20.4.4. By Coating Method

20.4.5. By Vehicle Type

20.5. Market Attractiveness Analysis

20.5.1. By Country

20.5.2. By End Use

20.5.3. By Coating Type

20.5.4. By Coating Method

20.5.5. By Vehicle Type

21.1. Tier Structure Breakdown

21.2. Market Share Analysis

21.3. Production Capacity Analysis

21.4. Company Footprint Analysis

21.4.1. Product Footprint of Players

21.4.2. Regional Footprint of Players

21.4.3. Channel Footprint of Players

21.5. Brand Preference Analysis

21.6. Competition Dashboard

22.1. 3M

22.1.1. Company Overview

22.1.2. Product & Financial Portfolio

22.1.3. Manufacturing Facilities

22.1.4. Recent Developments

22.1.5. SWOT Analysis

22.1.6. Strategy Overview

22.2. AkzoNobel NV

22.3. Henkel Corporation

22.4. Sika AG

22.5. Mallard Creek Polymers

22.6. The Sherwin-Williams Company

22.7. Henry Company

22.8. PPG

22.9. Covestro AG

22.10. Daubert Chemical Company