Industry Background:
Automotive coatings are used on automobiles for the purpose of protection and decoration. They are used to provide the protection from the environment and durability. The waterborne coatings have low VOC levels due to which they have low toxicity and flammability. They are used to offer high performance at high temperatures and to protect against corrosion.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | PPG (United States), Axalta (United States), AkzoNobel (Netherlands), BASF (Germany), Sherwin Williams (United States), Kansai (Japan), Covestro (Germany), Solvay (Belgium), DOW Chemical (United States) and Nippon Paint (Japan) |
This growth is primarily driven by Increasing Vehicle Production to Fuel the Global Market and Increasing Number of Coating Applications to Increase the Demand for Specialty Coatings.
Globally, a noticeable market trend is evident The trends towards the development of advanced transmission systems, such as automated manual transmission (AMT) The Chemicals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as PPG (United States), Axalta (United States), AkzoNobel (Netherlands), BASF (Germany), Sherwin Williams (United States), Kansai (Japan), Covestro (Germany), Solvay (Belgium), DOW Chemical (United States) and Nippon Paint (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The Automotive Specialty Coatings market seems to be fragmented. and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive specialty coatings market for global, Europe, North America, Asia Pacific, South America, and Middle East & Africa.
Key Developments in the Market:
In January 2019, Nippon Paint announced the launch of their unique car painting and car care center concept- Nippon Paint Xpress in India. This will provide a world-class body and paint repair and car care services.
Akzo Nobel signed a supply agreement with the BMW Group to offer the company's 44 locations across the world with automotive refinish products and services. According to the agreement, BMW Group branches and approved dealers may restore the paint on BMW and Mini Cooper vehicles using Akzo Nobel's Sikkens and Lesonal Brands.
Influencing Trend:
The trends towards the development of advanced transmission systems, such as automated manual transmission (AMT)
Market Growth Drivers:
Increasing Vehicle Production to Fuel the Global Market and Increasing Number of Coating Applications to Increase the Demand for Specialty Coatings
Challenges:
The stringency of the Volatile Organic Compound (VOC) Regulations
Restraints:
Growing Trends of Engine Downsizing and Increasing Sales of BEV
Opportunities:
Increasing Sales of Premium Vehicles
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Automotive Specialty Coatings Market
- Analysis about New Entrants in Automotive Specialty Coatings Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Automotive Specialty Coatings Study Sheds Light on
The Automotive Specialty Coatings Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Automotive Specialty Coatings industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Automotive Specialty Coatings industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.