Automotive paint plays an important role in the protection of automotives against acid rains, UVrays, oxidization and corrosion. It is one of the primary features that a customer sees and is attracted towards. Most people judge the performance and durability of the respective vehicle by the quality and durability of its paint. Automotive paints have low VOC & high solid content.
They are easy to apply and are clean and wear resistant. Companies are also using paints such as high-solids, powder, water-based, and radiation-cure paints which have low or no volatile organic compounds. But using more aqueous and volatile organic compounds-free paints result in higher cost, low surface performance, and increased drying time, so a balance needs to be maintained.
Since the competition is high, automotive paints manufacturers are pressurized to increase sales by compromising on their profit margins. Therefore, they are coming up with new innovative automotive paint products to capture more market share. The automotive paints market is large and extremely fragmented. Due to this it is not easy for automotive paints manufacturers to directly contact the end-users once the vehicle is sold for after-sales service.
This market of automotive paints is mostly covered by local and small players of that region. The topmost automotive paints manufacturers mostly directly sell their paints to automotive manufacturers only and therefore their largest market is the manufacturing and sale of new automotives.
The automotive paints market is increasing with an increase in automotive sales and demand. The accelerated pace of economic activity in developing countries (Brazil, India, Russia, and China) is also boosting the demand for automotives in these regions and thereby increasing the demand for automotive paints. Asia-Pacific, at present, is dominating the automotive paints market, followed by North America and Europe.
Different products that come under automotive paints include clear coats and touch-up paints, pretreatment chemicals, intermediate coats, electrodeposition primers, and solid and metallic top coats. Automotive paints are required for metal, plastic exterior paint and for interior coating. Different types of coating that are used in automotive paints include electrocoats, primers, powder coatings, base coats, and clear coats.
Some of the major companies that deal in automotive paints include DuPont, PPG, Nippon Paints, Kansai Nerolac Paints, BASF, AkzoNobel, KCC, and Guangdong Yin Fan Chemistry 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
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