Clear coat automotive paints & coatings market will showcase considerable growth owing to benefits offered by this coat in protecting primer and base coats from adverse environmental conditions. The clear coat is non pigmented and offers superior mirror finish and glossy appearance to the vehicles. Additionally, the coat is also mixed with UV blockers to protect the base coat from harmful sun rays that fades the paint. Industry participants are continuously upgrading their portfolio for improving their market share. For instance, in March 2017, BASF, Covestro, and Audi announced the development of an advanced combining technology, that efficiently produces higher quality and eco-friendly clearcoat finishes.
Water-borne paint technology will account for a considerable share in the automotive paints & coatings market. The benefits offered by the water-borne technology including reduced toxic materials content along with stringent regulations pertaining to reduction of VOC emission from painting process will support the market growth. Moreover, the improved durability along with higher corrosion resistance further expands the segment share from 2019 to 2025.
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PPG Industries, one of the most recognized names in the automotive paints & coatings market, also recently announced that it is working on devising a new technology to coat a car’s touchscreen infotainment systems that would reduce smudges and fingerprints. The new PPG coating is seemingly at par with what the latest smartphones like iPhone X use on their screens to remain smudge free and easy to clean. The difference is that the PPG coating is sprayed over the screen surface or the piano black interior finish of the vehicles rather than a coating film being applied. According to PPG, all major car makers will be using such smudge-resistant coatings in the near future.
On the other hand, Hemmelrath has been making further in-roads into the automotive paints & coatings market with plans to invest in expanding its subsidiaries in the U.S. and China. Hemmelrath produces waterborne primers in the USA and China but only in its own plants. However, the company is looking to be able to manufacture the entire range of products in these important automotive regions besides expanding in to the manufacturing of clearcoats, basecoats and primer-less systems.
OEMs will hold dominance in the automotive paints & coatings market over the forecast timeframe. The dominance can be credited to the increasing vehicle production across the globe. Automotive manufactures are focusing on offering environment friendly and durable products with a wide range of color options. The automotive suppliers are expanding their paint shop network to support the higher vehicle production. For instance, in October 2017, Magna announced the construction of a new USD 100 million paint shop in Slovenia.
Robust innovation in coatings technologies is yet another driving factor for the automotive paints & coatings market. Rising awareness about the eco-friendliness of various materials has been a transformative factor for several industries and the automotive paints and coatings market has been no exception. Automobile coatings producers and their suppliers have become increasingly versatile innovators in order to stay competitive in a fast-evolving market. Paints have now transformed from being solvent borne to water borne to low volatile organic compounds (VOC). As market leaders move to waterborne and other solutions, the use of new complex molecules that can make thinner coatings, last longer, and need lower temperature to apply at lesser cost has also become more popular. Besides, waterborne, low VOC coatings have been found to be much more productive as they offer better color reproduction and color consistency.
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Europe will showcase significant growth in automotive paints & coatings market owing to stringent vehicle paint regulations. The limiting usage of VOC based paints and development of wide water-borne paints and coatings are boosting the product penetration across the region. Moreover, the presence of multiple automobile OEMs focusing on offering a wide range of vehicles with diversified paint schemes at varied costs further accelerates the regional share over the study timeframe.
Major automotive paints & coatings market players include Eastman, Nippon Paints Holdings Co. Ltd., Cabot Corp, Covestro, Dupont, PPG Industries Inc, and BAFS SE. The other notable participants are Axaltra Coating Systems, Donglai Coating Technology, Akzo Nobel NV, Wanda refinish, Valspar, and Clariant AG. Product portfolio expansion is among the key strategies adopted by industry players to enhance their business share in the automotive paints & coatings market.
Glimpse of Table of Content (ToC)
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition & forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Automotive paints & coatings market industry 3600 synopsis, 2013 – 2025
2.1.1. Business trends
2.1.2. Vehicle trends
2.1.3. Coating type trends
2.1.4. Technology trends
2.1.5. Texture trends
2.1.6. Distribution channel trends
2.1.7. Raw material trends
2.1.8. Regional trends
Chapter 3. Automotive Paints & Coatings Market Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2025
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
3.3.3. Profit margin trends
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Pricing analysis
3.4.1. Regional pricing
184.108.40.206. North America
220.127.116.11. Asia Pacific
18.104.22.168. Latin America
22.214.171.124. Middle East & Africa
3.4.2. Cost structure analysis
3.5. Technology landscape
3.6. Regulatory landscape
3.6.1. North America
3.6.3. Asia Pacific
3.6.4. Latin America
3.6.5. Middle East & Africa
3.7. Industry impact forces
3.7.1. Growth drivers
126.96.36.199. North America
188.8.131.52. Asia Pacific
184.108.40.206. Latin America
220.127.116.11. Middle East & Africa
3.7.2. Industry pitfalls & challenges
3.8. Innovation and sustainability
3.9. Growth potential analysis, 2018
3.10. Porter’s analysis
3.11. Competitive landscape, 2018
3.11.1. Top players analysis
3.11.2. Strategy dashboard
3.12. PESTEL analysis
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