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Global Automotive Underbody Coatings Market Growth 2024-2030
Product Code:816775
Published Date: Oct 04,2024
Pages: 96
Region: Global
Category: Chemical & Material
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Automotive Underbody Coatings are coatings specifically used to protect the bottom of a car, designed to enhance its appearance and durability, and protect the car from damage in harsh environmental conditions such as acid rain, extreme temperatures, UV radiation, and foreign particles.
The global Automotive Underbody Coatings market size is projected to grow from US$ 1847 million in 2024 to US$ 2090 million in 2030; it is expected to grow at a CAGR of 2.1% from 2024 to 2030.
LP Information, Inc. (LPI) ' newest research report, the “Automotive Underbody Coatings Industry Forecast” looks at past sales and reviews total world Automotive Underbody Coatings sales in 2023, providing a comprehensive analysis by region and market sector of projected Automotive Underbody Coatings sales for 2024 through 2030. With Automotive Underbody Coatings sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Automotive Underbody Coatings industry.
This Insight Report provides a comprehensive analysis of the global Automotive Underbody Coatings landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Automotive Underbody Coatings portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Automotive Underbody Coatings market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Automotive Underbody Coatings and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Automotive Underbody Coatings.
With the increasing requirements of the automotive industry for product performance and durability, the growth prospects of the underbody coatings market are quite optimistic.
In terms of regional distribution, Asia Pacific will become the largest market in 2023, accounting for 53.52% of the market share. This trend is expected to continue as the automotive manufacturing industry in the region continues to grow, especially in China, Japan, India, South Korea and Southeast Asia. The rapid economic development and accelerated urbanization in the Asia-Pacific region have driven the demand for automobiles, thereby promoting the market growth of underbody coatings.
In terms of product types, rubberized automotive underbody coatings account for 59.15% of the global market, showing its advantages in durability and protective performance. This coating can not only effectively isolate the external environment from the bottom of the car, but also reduce noise and vibration, and enhance the driving experience. In addition, passenger cars are the largest end-use segment in the market, accounting for about 77.71% of the market share in 2023, reflecting consumers' strong demand for passenger car coatings.
The market competition is relatively fierce, and the industry concentration is high. The world's major automotive underbody coatings manufacturers include PPG, Henkel, Swarovski, 3M, Sika and ThreeBond. In 2023, the world's top five manufacturers accounted for about 51% of the market share, and these companies maintained their competitive advantages through continuous technological innovation and product research and development. However, with the rapid development of the market, new entrants are also increasing, and the competitive situation is becoming more complex.
In terms of market drivers, the demand for automotive underbody coatings is mainly affected by the following aspects: First, with the increase in automobile production and sales, the demand for high-performance coatings is also growing. Secondly, consumers' concerns about vehicle durability and safety have prompted automakers to invest more in chassis protection. In addition, the stringency of environmental regulations is also increasing, prompting manufacturers to use more environmentally friendly coatings to meet compliance requirements.
From the perspective of industry development opportunities, the automotive underbody coatings market faces many opportunities. With the advancement of high-performance coating technology, more innovative products will enter the market in the future. In addition, the popularity of electric and hybrid vehicles has also provided new growth points for the underbody coatings market. Such models usually require more professional coatings to cope with different usage environments. At the same time, the government's support policy for environmentally friendly products will further promote the development of the industry, and manufacturers can meet market demand by developing low-VOC (volatile organic compound) coatings.
This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Underbody Coatings market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Rubberized
Asphalt Based
Wax Based
Others
Segmentation by Application:
Passenger Car
Commercial Vehicle
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
PPG
Henkel
Sherwin-Williams
3M
Sika
ThreeBond
Lubrizol
Jenolite
Key Questions Addressed in this Report
What is the 10-year outlook for the global Automotive Underbody Coatings market?
What factors are driving Automotive Underbody Coatings market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Automotive Underbody Coatings market opportunities vary by end market size?
How does Automotive Underbody Coatings break out by Type, by Application?