Global Automotive Paint Additives Market: Overview
Paint additives are formulations that enhance the quality, functionality, and performance of paints and coatings, and are characterized by attributes such as antibacterial, antifungal, and odorlessness. In the automotive sector, these paint additives are used to modify, preserve, and control surfactant agents. With rising population across the world and increasing disposable income, the automotive sector is currently thriving, whose reflection is quite evident on the global automotive paint additive market, which is projected for a healthy growth rate during the forecast period of 2016 to 2024.
This report on the global market for automotive paint additives has been prepared to act as information guide as far as business decision making is concerned by the audiences such as coating additive manufacturers, coating additive suppliers, coating traders, distributors, and suppliers, raw material suppliers, and other service providers. The report examines all the factors that may influence the demand in the near future, and estimates the condition of the market until 2024. Among the key feature of the report is the section on company profiles, which has been carefully crafted in order to provide an insight into the market shares, product classifications, and regional presence of some of the key players in this market.
Global Automotive Paint Additives Market: Drivers and Restraints
In the automotive sector, paint additives help in improving the UV protection, aid in anti-catering, reduce foaming and chipping of the coatings as well as enhance the dispersions of solids. With these paint additives, automobile parts are able to deal robustly against moisture, abrasion, chemicals, and high temperature. As automobiles are expensive everyday products, consumers readily invest to maintain its utmost appearance, which is the primary factor driving the global automotive paint additives market. Moreover, restrictions on water-based paints, which emit volatile organic chemicals (VOC), are further augmenting the demand for automotive paint additives. In the recent times, new additives have been formulated that come with self healing properties. This has factor has further fueled the demand in this market. Conversely, high price of these paint additives is the most prominent factor that is restricting the market from achieving its true potential. The opportunity for players in this market is to research and develop paint additives that are cost-efficient and yet meet the desired result, in order to gain ground over their competitors.
Global Automotive Paint Additives Market: Region-wise Outlook
Asia Pacific, which resides nearly half of the world’s population and has several emerging economies with rapid urbanization such as India, China, Japan, South Korea, and Australia, is the most lucrative region for this market, owing to the flourishing automotive sector. European and North American region are also expected to sustain the demand at a moderate rate during the forecast period. These two regions are matured in nature and new technology is taking over.
Companies mentioned in the research report
BASF Coatings, DuPont Coatings & Color Technologies, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd., AkzoNobel Coatings, Eastman Chemical Company, PPG Industries Inc, Sherwin-Williams Co., and Valspar Corp. are some of the leading companies currently operational in the global automotive paint additives market. These key players are continuously investing on research and development of new paint additives that comply with environmental regulations and produce greater results, in order to add to their market shares.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.