According to Global Market Insights, Inc., the Automotive Paints & Coatings Market is slated to surpass the $27.5 billion renumeration by 2025. 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.
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.
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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.
Industry players are continuously investing in R&D for developing advanced environmentally friendly paints with focus on minimizing the VOC content. Moreover, major automobile OEMs are continuously innovating their product portfolio with improved paints and coatings with a focus on superior body finishes, minimizing the occurrence of scratches and color fading.
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.
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Polyurethanes will hold considerable share in the automotive paints & coatings market owing to enhanced resistance to chemical and weathering conditions. The improved corrosion resistance and durable properties increases the polyurethane coatings usage in heavy commercial vehicles (HCV). Paint manufactures are launching new premium quality products for HCVs to increase their revenue. For instance, in May 2016, Axalta Coating Systems announced the launch of its Imron polyurethane coating brand for catering to the heavy-duty trucks and buses customers.
Report Content: –
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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