Global Synthetic and Bio-Based Coatings for Automotives Market Size, Share, Growth Report 2030

September 28, 2023

Description

Synthetic & Bio-Based Coatings for Automotives Market: Overview

The use of synthetic compounds to coat an automobile is known as a synthetic coating. Use of organic and biodegradable compounds for the process of coating is known as the bio-based coating. The market for synthetic and bio-based coating can be categorized based on the technology used and the composition of the coating. The automotive coating can either encompass of bio-based material or synthetic material. The automotive coating can be done either internally or externally of the automotive. The synthetic coating provides superior appearance and luster to the interior surface of the automotive.

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Synthetic & Bio-Based Coatings for Automotives Market: Segmentation

The synthetic and bio-based coatings for automotive can be segmented into its application and region. On the basis of application, the market is categorized as films, textiles, injection molding, and others. Geographically, the market is diversified into Asia Pacific, Europe, Central, South and North America, and the Middle East and Africa. The regions can be further sub-segmented into countries. In North America, countries such as Mexico, Canada, and the USA are active in the market; in Europe, countries namely UK, Germany, France, and Russia; in Asia-Pacific, countries such as India, China, and Japan; in the Middle East and Africa, Saudi Arabia and Brazil from the Central and South America.

Synthetic & Bio-Based Coatings for Automotives Market: Growth Factors

Earlier, injection molding dominated the global application market. Various industries such as construction, packaging, automotive, electronics, furniture, consumer goods, and medical equipment use injection molding. Different regions are pushing the usage of polypropylene in various applications owing to its significant factors. These significant factors include the initiatives taken by the government to encourage rapid industrialization, increasing disposable income, infrastructure development, and urbanization. Other applications are film and textile applications. In the recent years, injection molding dominated the global market. Similarly, film applications are also expecting to grow in the coming years. Organizations such as REACH, ASTM, and FDA have raised strict rules regarding the manufacturing and usage of polypropylene. This, in turn, may hinder the market growth in the future.

Synthetic & Bio-Based Coatings for Automotives Market: Regional Analysis

The dominating region in the global market is Asia-Pacific followed by Europe and North America. Rising demand from the end-use industries in the developing countries is expected to drive the regional markets. Owing to the saturation of the end-use market, the developed regions such as North America and Europe are having a moderate market growth. The countries such as India, China, Argentina, and Brazil will lead their respective regional market due to the increase in the economies.

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Synthetic & Bio-Based Coatings for Automotives Market: Competitive Players

The key industries in the synthetic and bio-based coatings for automotive market include Japan Polypropylene Corporation, Reliance Industries Ltd., BASF, ExxonMobil, Total S.A, INEOS, PetroChina Company Ltd., Qatar Petrochemical Company, SABIC, Braskem, Sinopec, Borealis AG, LyondellBasell Industries, DuPont, Bayer Material Science, Fulton Pacific, Washington Penn Plastic Company, Inc., Nippon Paints, KCC Paints, Nooro Paints and Coating, and Chevron Phillips Chemical Company.

Synthetic & Bio-Based Coatings for Automotives Market: Regional Segment Analysis