Automotive Underbody Coatings Market: Overview
Underside of vehicles serves as an intermediate between metal components of a vehicle and outer environment. Underbody of vehicles is prone to damages due to harsh environmental conditions. Coatings are applied to the underside of vehicles to protect them against factors such as corrosion, chemicals, moisture, water damage, and chipping of the underbody. Automotive underbody coatings offer a protective layer to vehicles’ underside.
Most of these coatings provide chemical and corrosion resistance, along with several other properties based on different product formulations. Protection of underbody and wheel arches against chip damage is achieved by applying automotive underbody coatings, which protect the metal from debris of gravel, stones, salts, etc. tossed by the road.
Coating process of a vehicle body (automotive coating process) comprises minimum five layers of paint, while the underbody coating process comprises the first two layers in the overall coating process. These two layers provide durable protection against corrosion; however, damage over time requires renewal of these coatings. Automotive aftermarket service providers often provide these services during scheduled vehicle maintenance.
Automotive underbody coatings also offer protection against humidity, moisture, and wet conditions that can seep through the undercarriage of a vehicle through joints or cracks in the paintwork; and cause corrosion.
Elasticity of polymers used in automotive underbody coatings allows for low noise when struck by road debris compared to that with uncoated underbody. As a result, vibrations of vehicles are dampened and kept to a minimum.
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Automotive Underbody Coatings Market Segmentation
Based on product, the automotive underbody coatings market can be segmented into bitumen-based coatings, resin-based coatings, wax-based coatings, and others.
Bitumen-based coatings: These automotive underbody coatings offer durable fortification against corrosion and chipping damage. They also have sound dampening characteristics. Bitumen-based coatings are typically applied by spray or brush over a wide variety of substrates. They offer good performance even in tough conditions, for instance, in off-road applications.
Resin-based coatings: These coatings are typically made from polyurethane and rubber formulations. The elastomeric properties of these resins offer lasting protection against corrosion and chipping damage. They also offer sound dampening effects for a wide variety of substrates. Resin-based coatings can be applied as paints or sprayed over automotive underbodies.
Wax-based coatings: These types of coatings offer anti-corrosive properties across all kinds of substrates. Wax layer can be applied in different thickness by spray and brush; however, it is not used as a top coat.
Based on technology, the automotive underbody coatings market can be bifurcated into solvent-based coatings and water-based coatings. These coatings are available as liquids, aerosol cans, spray paints, and films.
Based on application, the automotive underbody coatings market can be divided into OEM and aftermarket services. At the point of sale, automobiles are equipped with automotive underbody coatings. These coatings are applied in the factory itself. Aftermarket service offers reapplication of these coatings as one their services as part of maintenance & repair services.
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Automotive Underbody Coatings Market Trends
Automotive underbody coatings are an integral part of every vehicle. Rise in demand for vehicles and improvement in manufacturing processes are major drivers of the automotive underbody coatings market. Furthermore, the need to enhance the life of a vehicle by reducing wear & tear and improving the surface resistance of the underbody are boosting the demand for automotive underbody coatings. Hence, demand for automotive underbody coatings is high, especially in production hubs of the world, namely China, India, and Southeast Asia. The shift in trend toward electric vehicles is anticipated to further boost the automotive underbody coatings market in the near future..
Automotive Underbody Coatings Market: Region-wise Outlook
In terms of geography, the global automotive underbody coatings market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is the key region of the automotive underbody coatings market due to the presence of well-developed manufacturing and automotive industries in China, India, and ASEAN. China and India have prominent automotive manufacturing facilities and high sales of vehicles. Thus, demand for automotive underbody coatings is high in these countries.
Demand for automotive underbody coatings is also high in Europe and North America. Presence of advanced automotive industry and high demand for premium products & services in Germany, Italy, and the U.S. are key factors augmenting the demand for automotive underbody coatings in these countries.
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Automotive Underbody Coatings Market: Key Players
Prominent players operating in the automotive underbody coatings market include Covestro AG, Sika AG, Mallard Creek Polymers, Daubert Chemical Company, MOTIP DUPLI B.V., 3M, and Auson AB. These companies offer various automotive underbody coatings directly to customers or to automotive service centers that utilize these coatings during vehicle maintenance and repair.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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