Protecting Vehicles from Corrosion and Wear
Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-68705 Format: PDF Pages: 275
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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Research Scope/Taxonomy
Market Analysis by End Use:
Market Analysis by Coating Type:
Market Analysis by Coating Method,:
Market Analysis by Vehicle Type:
Key Companies Profiled
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
15.3.1.1. U.S.
15.3.1.2. 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
16.3.1.1. Brazil
16.3.1.2. Mexico
16.3.1.3. 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
17.3.1.1. Germany
17.3.1.2. Italy
17.3.1.3. France
17.3.1.4. UK
17.3.1.5. Spain
17.3.1.6. Netherlands
17.3.1.7. Norway
17.3.1.8. Russia
17.3.1.9. 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
18.3.1.1. China
18.3.1.2. Japan
18.3.1.3. South Korea
18.3.1.4. India
18.3.1.5. Indonesia
18.3.1.6. Thailand
18.3.1.7. Vietnam
18.3.1.8. Australia & New Zealand
18.3.1.9. 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
19.4.1.1. Saudi Arabia
19.4.1.2. Turkey
19.4.1.3. U.A.E.
19.4.1.4. 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
20.4.1.1. South Africa
20.4.1.2. Nigeria
20.4.1.3. Egypt
20.4.1.4. 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