Automotive Paints and Coatings Market in India 2024: Industry Size, Share & Report 2032

India Automotive Paints and Coatings Market Overview

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 India automotive paints and coatings market size 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.

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India Automotive Paints and Coatings Market Trends and Drivers:

The growth of India's automotive paints and coatings market is driven by the expanding automotive industry and rising vehicle production. Increasing consumer demand for automobiles has led manufacturers to focus on enhancing the aesthetic appeal and durability of vehicles through advanced paint and coating solutions.

Additionally, the automotive aftermarket, including repair and customization services, is boosting demand for high-quality paints and coatings. Furthermore, stringent government regulations on vehicle emissions and environmental standards are pushing manufacturers to adopt eco-friendly and sustainable coating technologies, further accelerating market growth. 

Emerging trends in the India automotive paints and coatings market include the adoption of innovative technologies such as waterborne coatings, powder coatings, and UV-cured coatings. These technologies offer superior performance, reduced environmental impact, and compliance with regulatory standards. Furthermore, the increasing popularity of electric vehicles is driving the demand for specialized coatings that provide thermal management and corrosion resistance.

In addition to this, advancements in nanotechnology are enabling the development of coatings with improved scratch resistance, self-healing properties, and improved longevity, which is acting as another significant growth-inducing factor. Customization and personalization of vehicle exteriors are becoming more prevalent, leading to a higher need for a broad range of colors, finishes, and special effects, which is anticipated to drive the India automotive paints and coatings market over the forecasted period.

India Automotive Paints and Coatings Industry Segmentation:

The report has segmented the market into the following categories:

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.

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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.

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