Automotive Paint Market: Key Growth Factor, Industry Analysis 2020
Traditional coating treatment technique, such as air dry varnish, are replaced with new cost-effective techniques such as air gun and high volume low pressure (HVLP) guns.
New York, NY -- (SBWire) -- 11/08/2016 --Automotive paint is one of the most important non-machinery parts of automobile. In most cases the automotive paint becomes the first point of attraction for buyers. Automotive paints provide protection against acid rains, UV-rays, oxidization, corrosion and in some cases it also provides scratch resistance to the vehicles. Over the past few decades the automotive paint technology has matured in terms of quality of products, durability and color options offered to the end users.
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Traditional coating treatment technique, such as air dry varnish, are replaced with new cost-effective techniques such as air gun and high volume low pressure (HVLP) guns. In recent years, the focus of automobile industries is shifted towards spray technologies with minimal wastage, environment friendly coatings such as low Volatile Organic Compounds (VOC), waterborne paints, zero VOC powder coating and futuristic UV coating. Such techniques help in significantly reducing number of coating layers required.
Automotive paint are used widely both for the vehicle interior and exterior and for almost every material used in automobile such as lightweight steel, plastic, aluminum, metal alloys, fiber and other new materials.
Various products under automotive paints include pre-treatment chemicals, intermediate coats, clear coats and touch-up paints, electro-deposition primers and solid and metallic top coats. Based on the technology of putting automotive paint, the various coating techniques include electro-coats, primers, powder coatings, base coats and clear coats.
Asia Pacific is the largest market for automotive paint attributed to recent development in automotive OEM market in China, India and Japan. According to Organisation Internationale des Constructeurs d'Automobiles (OICA), 3,138,988 units of passenger cars and 741,950 units of commercial vehicle were manufactured by India and 18,085,213 units of passenger cars and 4,031,612 unit commercial vehicles were manufactured in China in the year 2013. Europe is the second largest market for automotive paint. Germany, Italy and France are leading vehicle producing countries in Europe. Europe is followed North America, where the U.S. accounts for the largest market.
Rising middle class, improve living standards, changing buyers preferences, growing economy and increasing demand of luxurious vehicle are some of the dominant drivers for automotive paint in Asia Pacific region. Whereas the governmental norms against volatile organic compound (VOC) automotive paint in Europe and North America is expected to boost the Low VOCs automotive paint market in these regions.
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Some of the major players operating in the automotive paint market include AkzoNobel NV, Arkema SA, Axalta Coating Systems LLC, BASF SE, Bayer AG, Beckers Group, Berger Paints India Limited, Cabot Corporation, Clariant International Ltd., Deft Incorporated, Eastman Chemical Company, Jotun, KCC Corporation, Kansai Paint Co Ltd, Lord Corporation, NIPPONPAINT Co., Ltd, PPG Asian Paints Private Limited, PPG Industries Inc, Koninklijke DSM N.V, Sherwin-Williams Company, Solvay Group of Companies and Valspar Corporation
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