India Automotive Paints and Coatings Market To Set Massive CAGR of 5.30% During 2024-2032

Automotive Paints and Coatings Market - India

Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 5.30% (2024-2032)

Market Size in 2023: USD 982.3 Million

Market Size in 2032: USD 1,573.1 Million

The India automotive paints and coatings market is growing, driven by increased vehicle production and demand for durable, aesthetic finishes. According to the latest report by IMARC Group, the market reached USD 982.3 Million in ​2023​. Looking forward, IMARC Group expects the market to reach USD 1,573.1 Million by ​2032​, exhibiting a growth rate (CAGR) of 5.30% during 2024-2032.

India Automotive Paints and Coatings Market Trends and Drivers:

  • Rising Automotive Industry and Vehicle Production:
    • The growing automotive industry and increasing vehicle production are key drivers of the market.
  • Increasing Consumer Demand for Automobiles:
    • Consumer demand for automobiles is rising, leading manufacturers to focus on enhancing vehicles' aesthetic appeal and durability with advanced paint and coating solutions.
  • Growth of the Automotive Aftermarket:
    • The demand for high-quality paints and coatings is driven by the expanding automotive aftermarket, including repair and customization services.
  • Government Regulations on Emissions and Environmental Standards:
    • Stringent government regulations are pushing manufacturers to adopt eco-friendly and sustainable coating technologies, further boosting market growth.
  • Adoption of Innovative Coating Technologies:
    • Emerging trends include the use of waterborne coatings, powder coatings, and UV-cured coatings, which offer superior performance and reduced environmental impact.
  • Rising Popularity of Electric Vehicles:
    • The demand for specialized coatings, such as those providing thermal management and corrosion resistance, is increasing with the growing popularity of electric vehicles.
  • Advancements in Nanotechnology:
    • Nanotechnology is leading to the development of coatings with improved scratch resistance, self-healing properties, and longevity, contributing to market growth.
  • Customization and Personalization of Vehicle Exteriors:
    • The trend towards vehicle customization is driving the need for a broader range of colors, finishes, and special effects, further propelling market expansion over the forecast period.

India Automotive Paints and Coatings Market Report Segmentation:

Breakup by Resin Type:

  • Polyurethane
  • Epoxy
  • Acrylic
  • Others

Breakup by Technology:

  • Solvent-borne
  • Water-borne
  • Powder
  • Others

Breakup by Layer:

  • E-coat
  • Primer
  • Base Coat
  • Clear Coat

Breakup by Application:

  • Automotive OEM
  • Automotive Refinish

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East and Northeast India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Ask Analyst for Customization and Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=21140&flag=C

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact US:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145

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