Global Automotive Paint Market is expected to register higher growth during the forecast period due to increasing demand and technological advancement in the production of the automobile sector. Also, trends in the automotive industry such as government regulations towards the environment, buyer’s preferences, changing lifestyle and growing economy are the influencing factor for the growth of the automotive paint market. However, for capturing the aesthetical appearance of the vehicle as well as protects the vehicle from acid rains, UV rays, oxidization, and corrosion paints are used in the automotive industry. Paint imparts to the vehicle is an eye-catching feature that plays a vital role in attracting customers toward the vehicle. In addition, OEMs increasing its investment in developing automotive paints to reduce the adverse environmental impact caused by volatile emissions from certain types of automotive paints is projected to provide promising opportunities for the automotive paint market during the forecast period. For instance, BASF Group and Sirrus Inc., these two major players are focusing on the development of coatings and adhesives, they entered into an agreement to develop a new class of high-performance automotive coatings based on methylene malonate technology.
Key Factors Impacting Market Growth:
- Demand for eco-friendly automotive paints.
- Increasing Raw Material Price.
- Production of cost-effective & eco-friendly automotive paints.
- Increasing Demand and Production of Automobile.
- Developed Nations encouraging the use of Public Transport.
- 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 Electrodeposition (CED) paint is one of the latest developments in providing the vehicle utmost protection against diverse climatic conditions. This electrodeposition 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.
The regional outlook section for the Automotive Paint market provides the region-wise market projections along with related market dynamics. The global sale of automotive vehicles is also increasing due to the increasing disposable income of customers in developing countries has propelled the demand for automotive paints market. The Asia Pacific is expected to be the dominant region for the Automotive Paint Market followed by North America and Europe.
The Asia Pacific with the largest automotive sales and production in China, Japan, India, South Korea, and Thailand and also some countries has well-established vehicle manufacturers. North America and Europe are expected to be the emerging markets for automotive paints due to stable economic activities and technological advancements in these regions. On the other side, The African automobile industry is said to be in its growing phase and it will be directly proportional to the increased automotive paint demand. Also, Investment opportunities in the Middle East & Africa region are expected to provide opportunities for market growth in the future.
Companies Covered: Axalta Coating Systems Ltd, BASF SE, Akzo Nobel NV, PPG Industries Inc., Nippon Paint Holdings Co. Ltd., DuPont, Clariant, Solvay, The Sherwin-Williams, Kansai Paint Co., and others.
By Resin Type:
By Texture Type
By Vehicle Type
By Distribution Channel
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Region (South America, Africa)
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