Global Automotive Paints Market Size, Share, Major Players, Opportunity, Growth, Trends, and Forecast Period 2018 to 2023
Orbisreserach.Com adds “Global Automotive Paints Market-Growth, Trends, and Forecast (2018-2023)” To Its Research Database
Dallas, United States – May 17, 2018 /MarketersMedia/ —
The Global Automotive Paints and Coatings Market has been estimated at USD 19 billion in 2017 and is expected to grow at a CAGR of 5.5% during the forecast period, 2018 – 2023.DuPont, PPG industry, Nippon Paint, and 3M have been estimated to be the market leaders in the automotive paints market in 2017. The market is driven by the paint manufacturers endeavoring to offer cost-efficient and varied effective solutions without compromising on the performance of the paints through their wide portfolio of product offerings. The growth of the market is characterized by increasing vehicle production, growing demand for carbon footprint technologies in the automotive paints market, and changing weather conditions.
Companies Mentioned:
3M, Akzonobel NV, Arkema Group (Bostik SA), Axalta Coatings Systems, BASF SE, Beckers, Berger Paints India Ltd, Clariant Ag, Kansai Nerolac Paints Ltd., DuPont, Nippon, PPG Industries, Royal DSM NV, Solvay S.A, Valspar
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Asia-Pacific is expected to be the largest market for automotive coatings by 2023, owing to the large production capacity of automotive industries in that region. It is also projected to be the fastest growing market during the forecast period because of the growing technological advancements. The region also recorded the maximum number of vehicles produced, owing to its demand-driven dynamics. The African automobile industry is said to be in its growing phase and its growth will be directly proportional to the increased automotive paint demand.
There is an increased emphasis on the reduction of carbon dioxide, particulate matter, and nitrogen oxide emission, along with the growing focus on increasing fuel economy, as per Corporate Average Fuel Economy standards. Therefore, paint manufacturers should develop solutions to reduce the emissions.
Undertaking New Technology
The automotive industry and engine manufacturers are expected to become an excellent growth area for thermal spray, especially in the powder coating technology. Engine manufacturers are looking at thermal spray protective surface coatings for cylinders. Also, powder coatings are a non-toxic, dry-finishing process used to provide a protective finish, primarily used in metals and aluminum products in automobile and motorcycle parts. The process creates a hard finish tougher than that of conventional paints and is used to protect from rust and provide a great amount of chemical resistance. Powder coatings are an increasingly popular finish for many automotive components, primarily as a result of being solvent-free. The automotive industry coats springs, bumpers, wheel, louvers, and frames, and some manufacturers are increasingly using powder coatings for primer and final body finish.
In the technology segment, the waterborne and powder coatings segments are expected to show the maximum growth rate, with waterborne solvents leading the market comprehensively by 2022. This is largely because solvent-based coatings are banned in most countries since they have proven to be ecologically harmful.
Key Developments
Nippon Paint, one of the leaders in the automotive paints market, has devised and developed a polarized paint, Maziora that changes color depending on the angle from which it is viewed or from where the light highlights it. The paint is suitably used to re-paint automobiles or as a high-design paint for new vehicles and designer racing cars.
Nippon Paint created an advanced, brighter, stronger shade of soul red, its latest color developed in cooperation with Mazda, balancing quality and design with workability performance.
Cathodic Electro-Deposition (CED) paint is one of the latest developments in providing the vehicle utmost protection against diverse climatic conditions. This electro deposition system acts as an anti-rust primer and also works effectively as an anti-corrosion agent. The market is expected to remain competitive in the presence of many players.
Major Players: AXALTA COATINGS, SOLVAY SA, PPG INDUSTRIES, DUPONT, 3M, amongst others
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Reasons to Purchase the Report
Provides latest insights into the automotive paints market
Gives a detailed analysis of key competitors in the automotive paints market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis on the region that is expected to witness the highest growth
Identify the latest developments, market shares, and strategies employed by the major market players
3 month analyst support, along with the Market Estimate Sheet (in Excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your need.
Table of Content:
1. Introduction
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Analysis Methodology
3. Executive Summary
4. Market Overview and Technology Trends
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter’s Five Forces Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Competitive Rivalry
5. Market Dynamics
5.1 Drivers
5.1.1 Increasing Vehicle Production and Sales
5.2 Restraints
5.2.1 Environment Issues
5.2.2 Increasing Raw Material Cost
5.3 Opportunities
5.3.1 The Asia-Pacific Region
5.3.2 Polarized Paint
6. Global Automotive Paints Market Segmentation, by Coat Usage Type
6.1 Primer
6.2 Clear Coat
6.3 Basecoat
6.4 Metallic Paint
6.5 Nonmetallic Paint
6.6 Others
7. Global Automotive Paints Market Segmentation, by Formulation
7.1 Solvent-Borne Coatings
7.2 Water-Borne Coatings
7.3 Powder Coatings
8. Global Automotive Paints Market Segmentation, by Vehicle Type
8.1 Passenger Vehicles
8.2 Commercial Vehicles
8.3 Two-Wheelers
9. Global Automotive Paints Market Segmentation, by Geography
9.1. North America
9.1.1 United States
9.1.2. Canada
9.1.3. Mexico
9.1.4 Rest of North America
9.2. Asia-Pacific
9.2.1. China
9.2.2. Japan
9.2.3. India
9.2.4. Australia
9.2.4. Rest of Asia-Pacific
9.3. Europe
9.3.1. Germany
9.3.2. United Kingdom
9.3.3. France
9.3.4 Italy
9.3.4. Rest of Europe
9.4. South America
9.4.1. Brazil
9.4.2. Argentina
9.4.3. Rest of South America
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.2 Iran
9.5.3 South Africa
9.5.4 Rest of Middle East & Africa
10. Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
11. Company Profile
11.1 3M
11.2 Akzonobel NV
11.3 Arkema Group (Bostik SA)
11.4 Axalta Coatings Systems
11.5 BASF SE
11.6 Beckers
11.7 Berger Paints India Ltd
11.8 Clariant Ag
11.9 Kansai Nerolac Paints Ltd.
11.10 DuPont
11.11 Nippon
11.12 PPG Industries
11.13 Royal DSM NV
11.14 Solvay S.A
11.15 Valspar
12. Outlook of the Market
13. Disclaimer
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