The global automotive paints and coatings market is expected to grow at a steady rate and witness a CAGR of close to 5% from 2017 to 2021, based on a recent market report from Technavio. The rapid expansion of the automotive industry in APAC will propel the growth prospects for the global automotive paints and coatings market during the forecast period. The global automotive paints and coatings market is segmented into primer, basecoat, clearcoat, and e-coat by coat type. The basecoat segment occupied the largest market share in 2016, and will maintain its market dominance in the coming years. A basecoat is also called as a topcoat, which provides color to the body. Furthermore, the basecoat segment dominates the market as it is the main layer that gives a distinct and lucrative effect to the visual impression of the automobile. The global market is segmented into solvent-based products, other technology-based products, and water-based products by product type. The solvent-based products segment accounted for the largest market share in 2016, and will continue to dominate the market in the next few years. The development of environmentally friendly alternatives to coatings and paints will propel the growth prospects for the market’s segment. In addition, the growing awareness of the availability of environmentally friendly alternatives will further increase their application in the coming years. The global market is segmented into APAC, Europe, North America, and ROW by geography. APAC accounted for the maximum market share in 2016, and will continue to dominate the market during the forecast period. It is mainly attributed to the rapid expansion of the automotive industry in this region and rising demand for superior quality automotive models with enhanced visuals. Furthermore, with the growing disposable income of the consumers, government initiatives, demand for passenger cars and commercial vehicles, and fuel-efficient and cost-effective electric and energy vehicles, the demand for automotive paints and coatings in the region is increasing. Key players in this market are Axalta Coating Systems, BASF, Kansai Paint, Nippon Paint Holdings, and PPG Industries. Other prominent players in the market include 3M, AkzoNobel, Arkema, Berger Paints, Covestro, Clariant, DuPont, KCC, Sherwin-Williams, and Valspar.