Truck Coating Market Trends and Forecast
The future of the global truck coating market looks promising with opportunities in the tank truck, flatbed truck, garbage truck, dump truck, and panel truck markets. The global truck coating market is expected to reach an estimated $565.3 billion by 2030 with a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are increasing demand for corrosion-resistant coatings in the trucking industry to extend vehicle lifespan, rising emphasis on aesthetic appeal and brand identity through custom truck coatings, and growing adoption of eco-friendly and low-VOC coatings in response to regulatory standards worldwide.
• Lucintel forecasts that electrodeposition coating is expected to witness the highest growth over the forecast period.
• Within this market, tank truck is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Truck Coating Market
• United States – PPG Industries launched a low-VOC truck coating series to comply with EPA regulations, aiming for 25% market share by 2025 with support from government incentives.
• Germany – BASF introduced a durable truck coating with enhanced scratch resistance, targeting 15% reduction in maintenance costs and aligned with government emissions standards.
• China – Nippon Paint partnered with local transport companies to deploy eco-friendly truck coatings, supported by government subsidies promoting sustainable transportation solutions.
• Brazil – AkzoNobel announced a partnership with truck manufacturers to develop high-gloss coatings, aiming to capture 30% of the South American market by 2024, supported by government tax incentives for automotive innovation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Truck Coating Market by Segment
The study includes a forecast for the global truck coating market by type, application, and region.
Truck Coating Market by Type [Value from 2018 to 2030]:
• Electrodeposition Coating
• Primer
• Top Coat
Truck Coating Market by Application [Value from 2018 to 2030]:
• Tank Truck
• Flatbed Truck
• Garbage Truck
• Dump Truck
• Panel Truck
• Others
Truck Coating Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Truck Coating Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies truck coating companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the truck coating companies profiled in this report include-
• PPG Industries
• Sherwin-Williams
• Rhino Linings
• Kukdo Chemicals
• Nukote Coating Systems
• VIP
• Specialty Products
Recent Development in the Truck Coating Market
• Sherwin-Williams: Introduced a next-generation truck coating with enhanced UV protection and corrosion resistance, targeting fleet operators for improved durability.
• AkzoNobel: Developed a high-performance truck coating solution with self-healing properties to reduce maintenance costs and extend vehicle lifespan.
• Axalta Coating Systems: Launched a sustainable truck coating line using bio-based materials, aligning with corporate sustainability goals and regulatory requirements.
• Valspar Corporation: Rolled out a customizable truck coating system that offers color flexibility and weather resistance, meeting diverse customer demands in the commercial vehicle sector.
Features of the Global Truck Coating Market
Market Size Estimates: Truck coating market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Truck coating market size by type, application, and region in terms of value ($B).
Regional Analysis: Truck coating market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the truck coating market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the truck coating market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the truck coating market size?
Answer: The global truck coating market is expected to reach an estimated $565.3 billion by 2030.
Q2. What is the growth forecast for truck coating market?
Answer: The global truck coating market is expected to grow with a CAGR of 4.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the truck coating market?
Answer: The major drivers for this market are increasing demand for corrosion-resistant coatings in the trucking industry to extend vehicle lifespan, rising emphasis on aesthetic appeal and brand identity through custom truck coatings, and growing adoption of eco-friendly and low-VOC coatings in response to regulatory standards worldwide.
Q4. What are the major segments for truck coating market?
Answer: The future of the truck coating market looks promising with opportunities in the tank truck, flatbed truck, garbage truck, dump truck, and panel truck markets.
Q5. Who are the key truck coating market companies?
Answer: Some of the key truck coating companies are as follows:
• PPG Industries
• Sherwin-Williams
• Rhino Linings
• Kukdo Chemicals
• Nukote Coating Systems
• VIP
• Specialty Products
Q6. Which truck coating market segment will be the largest in future?
Answer: Lucintel forecasts that electrodeposition coating is expected to witness the highest growth over the forecast period.
Q7. In truck coating market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the truck coating market by type (electrodeposition coating, primer, and top coat), application (tank truck, flatbed truck, garbage truck, dump truck, panel truck, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Truck Coating Market Market, Truck Coating Market Market Size, Truck Coating Market Market Growth, Truck Coating Market Market Analysis, Truck Coating Market Market Report, Truck Coating Market Market Share, Truck Coating Market Market Trends, Truck Coating Market Market Forecast, Truck Coating Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.