Asia Pacific Automotive Paints Market Report Description:
Asia Pacific Automotive Paints market report gives comprehensive outlook on Automotive Paints across the globe with special emphasis on key countries such as Japan, China, India, Australia & New Zealand, ASEAN, South Korea and Rest of Asia-Pacific. The report on Asia Pacific Automotive Paints market gives historical, current, and future market sizes (US$ Mn) on the basis of technology, resin type, texture, paint type, vehicle type and region. This report studies Asia Pacific Automotive Paints market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Asia Pacific Automotive Paints market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Asia Pacific Automotive Paints market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Asia Pacific Automotive Paints market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in Asia Pacific Automotive Paints products.
Asia Pacific Automotive Paints Market:
The Asia Pacific Automotive Paints market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Some of the key factors influencing the market growth include stringent emission regulations & environmental concerns, innovative paint technologies, changing buyer preferences, high growth in emerging economies and increasing demand of vehicles worldwide. In addition, the growth in this region is mainly attributed to increasing demand for automobiles, rising per capita income and purchasing power of consumers. India and China were the largest revenue contributors in this region.
Stringent Emission Regulations and Environmental Concerns
The Asia Pacific automotive paints market is expected to witness surge in demand over the forecast period owing to factors such as stringent government regulations and increasing environmental awareness. The automotive paints market is emerging in terms of color options, durability, and reliability. Automotive paints act as a protective coat and provide an ambient appearance, which is expected to accelerate the market growth over the next six years. Various regulations regarding non-VOC paints have triggered the automotive paints market demand leading to the introduction of waterborne coats, which are expected to replace the solvent-borne coats. Advanced coating solutions are manufactured and delivered by the automotive paint companies to the vehicle manufacturers owing to the extreme government regulations. These innovations reduce the overall cost and time required per vehicle unit through controlled paint shop emissions, which is expected to spur basecoats demand in the automotive paints market.
Environment Issues
The environmental impact of paint is diverse. Traditional painting materials and processes can have harmful effects on the environment, including those from the use of lead and other additives. Measures should be taken to reduce environmental impact, including accurately estimating paint quantities so waste is minimized, and use of environmentally preferred paints, coating, painting accessories, and techniques. The primary source of hazardous waste from automotive plants is again from paint processes. Although much material is recovered, this waste is typically around 25 percent of a plant’s total hazardous waste by weight.
India Accounts for Larger Market Revenue Share in Asia Pacific Automotive Paints Market
India accounted for larger revenue share in Asia Pacific Automotive Paints market with considerable CAGR. India were the largest revenue contributors in this region. Asia Pacific automotive paints market has been witnessing robust growth over the past few years owing to increase vehicle production in countries including India along with the aging of vehicles.
Major automotive OEMs in India such as Bajaj Auto, Mahindra & Mahindra, Ashok Leyland, Hero Moto Corporation, Maruti Suzuki, and General Motors among others are expected to expand their production capacities and set up new vehicle manufacturing facilities in India in the near future. This in turn expected to fuel the automotive paint market in the region.
Competition Assessment
Key player’s profiles in the Asia Pacific Automotive Paints market include:
- 3M
- Valspar (U.S)
- Solvay S.A (Belgium)
- Royal DSM NV (Netherlands)
- PPG Industries (U.S)
- Nippon (Japan)
- DuPont (U.S)
- Clariant Ag (Switzerland)
- Beckers (U.S)
- BASF SE (Germany)
- Axalta Coatings Systems (Germany)
- Akzonobel NV (Netherlands)
Asia Pacific Automotive Paints market is surging owing to frequent acquisitions and launchings by the market players. For Instance, Nippon Paint, one of the leaders in the automotive paints market, has devised and developed a polarized paint, Maziora that changes color depending on the angle from which it is viewed or from where the light highlights it. The paint is suitably used to re-paint automobiles or as a high-design paint for new vehicles and designer racing cars.
Key Findings of the Report:
- Asia Pacific Automotive Paints market expanding at significant CAGR over 2019 to 2025 owing to increasing demand for automobiles and rising per capita income.
- Based on technology, Waterborne segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in Asia Pacific Automotive Paints market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Detailed Segmentation
By Technology
- Waterborne
- Solvent-Borne
- Powder Coating
By Resin Type
- Epoxy
- Acrylic
- Polyurethane
- Other Resins
By Texture
- Solid Texture
- Metallic Texture
- Matte Finish Paints
- Pearlescent Paints
- Solar Reflective Paints
By Paint Type
- Primer
- Basecoat
- Electrocoat
- Clearcoat
By Vehicle Type
- Passenger Car
- Commercial Vehicle OEM
- Light Vehicle OEM
- Others
- Automotive Refinish (Aftermarket)
Geography
- Asia-Pacific
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
