Paint additives are formulations which are antifungal, antibacterial, adhesive, flow enhancing, and have odor modifying properties, which paint might otherwise lack. They are generally added in small amounts yet have a significant effect on the paint. The automotive paint additives market can be segmented into rheology modifiers, catalysts, preservatives, driers, and foam control agents surfactants.
The world market of automotive paint coating is growing at a considerable pace. The market is growing due to the restrictions on the use of solvents based paints which are high in volatile organic chemicals (VOC) and has enabled the promotion of the use of water based paints which need a greater quantity of additives to make good quality paint.
These restrictions have resulted into the development of novel additives with multi-functionality, zero percent volatile organic chemicals, and self-healing properties. The market can be geographically segmented into Asia-Pacific, North America, Europe, the Middle East, South and Central America, and Africa. The market is growing at the fastest rate in the Asia-Pacific region and is expected to achieve 40 percent of global market share by 2018. The mature European and North American markets are mainly driven by innovative product developments and new technology.
Growing pressure from the automotive industry to reduce the price of paints is in turn expected to curtail the growth of the revenue of the paint additive industry. Hence, pricing pressure is the area of concern for the automotive paint additives industry. In order to drive the demand in the future, the paint additive industry is expected to develop innovative products that are perfectly balanced with cost, quality, environment-friendliness and optimal usage.
Innovation in smart coating formulations and nanotechnology is anticipated to be an opportunity for the automotive paint additives industry to drive the demand in the market and reduce the price sensitiveness for automotive paint additives. Environmental regulations are expected to fuel the demand and innovation in the additive market.
Some of the key participants in the market include Eastman Chemical Company, DuPont Coatings & Color Technologies, AkzoNobel Coatings, PPG Industries Inc, BASF Coatings, Sherwin-Williams Co., Valspar Corp., Nippon Paint Co. Ltd. and Kansai Paint Co. Ltd.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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