LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028

Chemicals & Materials | Paints

LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028

Market by Product Type, Coat Type, Vehicle Type, End-users, and Country | Forecast 2022-2028

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As per Triton’s research report, the automotive paints and coatings market in Latin America is estimated to witness growth at a CAGR of 5.36% during the forecasting period 2022-2028.



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The countries calculated in the region are:

•         Brazil

•         Mexico

•         Rest of Latin America

Mexico captures the highest market share in Latin America automotive paints and coatings. Mexico and Brazil have the most developed automotive industries in the region, with Mexico producing approximately 3.7 million vehicles each year. The region’s automotive sector is widely supported by prominent automakers, such as Ford, Volkswagen, and Toyota. Furthermore, the region continues to account for substantial sales of light care globally. The surged exports and strong presence of major vehicle manufacturers positions the automotive paints and coatings market on a growth path.

Mexico is leading the automotive sector in the region, emerging as the world’s sixth-largest passenger vehicle manufacturer. Besides, the country is a leading producer and exporter of cargo vehicles and tractor trucks, respectively. The country exports the majority of heavy-duty vehicles to the United States. Besides, the country attracts various global manufacturers through strategic advantages and trade agreements like NAFTA. Furthermore, the automobile sector generates significant revenue in foreign direct investment every year. The robust growth of the automobile sector has ultimately surged the demand for automotive paints and coatings over the years. Therefore, these factors widen the scope and development of the automotive paints and coatings market.

Additionally, several manufacturers like Ford, GM, and Nissan have set up operations in Mexico. The strong presence of prominent automakers, high export volumes, and rising manufacturing boosts the country’s automotive paints and coatings market’s development.

Light commercial vehicles refer to automobiles used to transport goods. The distinction between light commercial vehicles and big trucks is measured in tonnes, ranging from 3.5 to 7. BAF is one of the companies offering paints and coatings for light commercial vehicles. The given market is segmented into vehicle type, product type, end-users, and coat type. The vehicle type is further sectioned into light commercial vehicles, heavy commercial vehicles, and passenger vehicles.

Major enterprises in the market consist of PPF Industries Inc, Red Spot Paint, Kapci Coatings, and RPM International Inc.

PPG Industries manufactures and distributes a wide range of paints, coatings, and specialty materials. Its business segment includes performance and industrial coatings. The performance coatings segment provides sealants, transparencies, adhesives, paints, coatings, wood stains, and others. The industrial coatings include optical lens materials, formulated coatings, adhesives, and sealants, among others. The company serves clients across the automotive, industrial, construction, and consumer products industries. PPG has operations across numerous countries, including Latin American nations.

PPG announced the expansion of automotive OEM clear coat production in its facility in Germany. The $3.27 million project doubles the facility’s capacity for premium clear coats, employing advanced technology to enhance operational efficiency and sustainability.

 

Key deliverables of the report:

·       Market CAGR during the forecasting years 2022-2028

·       Detailed data highlighting key insights, industry components, and market strategies

·      Comprehensive information and estimation of the automotive paints and coatings market revenue growth in Latin America and its influence on the parent market

·       In-depth study of forthcoming trends in consumer behavioral patterns

·       A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces

·    A wide-ranging study of factors that will challenge the LA automotive paints and coatings market’s growth during the upcoming years

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Table of Content

1.     LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET - SUMMARY

2.     INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON AUTOMOTIVE PAINTS AND COATINGS MARKET

2.2. KEY INSIGHTS

2.2.1. INTRODUCTION OF NEW COLORS FOR CAR EXTERIORS

2.2.2. NEW RESIN AND ADDITIVE TECHNOLOGIES DEVELOPMENT METHODS

2.2.3. SHIFTING PREFERENCES IN CAR COLORS

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. KEY MARKET STRATEGIES

2.6.1. MERGERS & ACQUISITIONS

2.6.2. CONTRACTS & AGREEMENTS

2.6.3. EXPANSIONS

2.7. MARKET DRIVERS

2.7.1. TECHNOLOGICAL INNOVATIONS IN METALLIC PIGMENTS

2.7.2. GROWING DEMAND FOR SANITARY CAR INTERIORS

2.7.3. STRONG GOVERNMENT ASSISTANCE

2.7.4. INCREASED DEMAND FOR PASSENGER VEHICLES

2.8. MARKET CHALLENGES

2.8.1. ELEVATED COATINGS COSTS AND RAW MATERIAL SHORTFALLS

2.8.2. REGULATIONS AND FORMULATOR REGISTRATION REQUIREMENTS

2.9. MARKET OPPORTUNITIES

2.9.1. NEW DEVELOPMENTS IN COATINGS

2.9.2. SPECIALLY DESIGNED COATINGS FOR ELECTRIC VEHICLES

3.     LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY PRODUCT TYPE

3.1. SOLVENT-BORNE

3.2. WATERBORNE

3.3. OTHER COATINGS (POWDER COATINGS, ETC)

4.     LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY COAT TYPE

4.1. BASE COAT

4.2. ELECTRO COAT

4.3. CLEAR COAT

4.4. PRIMER

5.     LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY VEHICLE TYPE

5.1. PASSENGER VEHICLES

5.2. LIGHT COMMERCIAL VEHICLES

5.3. HEAVY COMMERCIAL VEHICLES

6.     LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY END-USERS

6.1. ORIGINAL EQUIPMENT MANUFACTURERS (OEM)

6.2. AUTOMOTIVE REFINISH

7.     LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET – REGIONAL OUTLOOK

7.1. BRAZIL

7.2. MEXICO

7.3. REST OF LATIN AMERICA

8.     COMPETITIVE LANDSCAPE

8.1. AKZO NOBEL NV

8.2. AXALTA COATING SYSTEMS

8.3. BASF SE

8.4. BERGER PAINTS LTD

8.5. CONCEPT PAINTS

8.6. HMG PAINTS LTD

8.7. KANSAI PAINT CO LTD

8.8. KAPCI COATINGS

8.9. KCC CORPORATION

8.10. NATIONAL PAINTS FACTORIES CO LTD

8.11. PPG INDUSTRIES INC

8.12. RED SPOT PAINT

8.13. RPM INTERNATIONAL INC

8.14. SHERWIN WILLIAMS

8.15. VALSPAR CORPORATION

9.     RESEARCH METHODOLOGY & SCOPE

9.1. RESEARCH SCOPE & DELIVERABLES

9.2. SOURCES OF DATA

9.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: NEW PASSENGER CAR REGISTRATIONS IN TOP COUNTRIES IN 2020

TABLE 4: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)

TABLE 5: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COAT TYPE, 2022-2028 (IN $ MILLION)

TABLE 6: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY VEHICLE TYPE, 2022-2028 (IN $ MILLION)

TABLE 7: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY END-USERS, 2022-2028 (IN $ MILLION)

TABLE 8: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 9: PRODUCTION AND SALES OF AUTOMOBILES IN BRAZIL (2016-2020)

TABLE 10: PRODUCTION AND SALES OF AUTOMOBILES IN MEXICO (2016-2020)

TABLE 11: PRODUCTION AND SALES OF AUTOMOBILES IN ARGENTINA (2016-2020)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PRODUCT TYPE, 2021 & 2028 (IN %)

FIGURE 3: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY SOLVENT-BORNE, 2022-2028 (IN $ MILLION)

FIGURE 4: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY WATERBORNE, 2022-2028 (IN $ MILLION)

FIGURE 5: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY OTHER COATINGS (POWDER COATINGS, ETC), 2022-2028 (IN $ MILLION)

FIGURE 6: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COAT TYPE, 2021 & 2028 (IN %)

FIGURE 7: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY BASE COAT, 2022-2028 (IN $ MILLION)

FIGURE 8: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY ELECTRO COAT, 2022-2028 (IN $ MILLION)

FIGURE 9: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY CLEAR COAT, 2022-2028 (IN $ MILLION)

FIGURE 10: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PRIMER, 2022-2028 (IN $ MILLION)

FIGURE 11: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY VEHICLE TYPE, 2021 & 2028 (IN %)

FIGURE 12: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PASSENGER VEHICLES, 2022-2028 (IN $ MILLION)

FIGURE 13: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY LIGHT COMMERCIAL VEHICLES, 2022-2028 (IN $ MILLION)

FIGURE 14: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY HEAVY COMMERCIAL VEHICLES, 2022-2028 (IN $ MILLION)

FIGURE 15: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY END-USERS, 2021 & 2028 (IN %)

FIGURE 16: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY ORIGINAL EQUIPMENT MANUFACTURERS (OEM), 2022-2028 (IN $ MILLION)

FIGURE 17: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, BY AUTOMOTIVE REFINISH, 2022-2028 (IN $ MILLION)

FIGURE 18: LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)

FIGURE 19: BRAZIL AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

FIGURE 20: MEXICO AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

FIGURE 21: REST OF LATIN AMERICA AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

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