Market by Product Type, Coat Type, Vehicle Type, End-users, and Country | Forecast 2022-2028
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.
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
Want
to get specific insights? Our team of analysts can customize this report based
on your preferences. Connect with us here.
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VIEW REPORT1. 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
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)
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)