About Luxury Automobile Paint
Automotive paint is used in in various forms of vehicle type such as it is been use in the heavy commercial vehicles, light vehicle for commercial use, premium car used for passenger, luxury passenger car and also the compact car for passenger purpose. it is been used for both protection and decoration purpose. While so far there is also a enamel paint which is most broadly used as a paint in the favour of reasons that includes leesing paints ecological impact
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 5.9% |
Competition among existing players is due to the Luxury Automobile Paint market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Luxury Automobile Paint Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Automobile Paint market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
PPG (United States), AkzoNobel (Netherlands), Henkel (Germany), Sherwin-Williams (United States), Valspar (United States), RPM International (United States), Axalta (United States), BASF (Germany), Kansai Paint (Japan), Sika (Switzerland), 3M (United States) and Asian Paints (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nippon Paint (Japan), HB Fuller (United States), Masco (United States) and Jotun (Norway).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Automobile Paint market by Type (Solvent, Waterborne and Powder coating), Application (Compact Car, Mid-size Car, Full-size Car, Larger Car, SUV/Crossover and Super Sport Car) and Region.
On the basis of Type, Solvent are dominating the market in the year 2023On the basis of geography, the market of Luxury Automobile Paint has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Coat type, the sub-segment i.e. Base coat will boost the Luxury Automobile Paint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Texture type, the sub-segment i.e. Solid texture will boost the Luxury Automobile Paint market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Automotive restorations and refurbishing is reflecting favourably on the sales prospect of automotive paints and Increased adoption of advanced powder coating and thermal spray technologies
Market Growth Drivers:
Demand has been incresed for innovative and speciality products and Rising acceptance of eco-friendly coatings such as powder coatings, UV-cured coatings, and waterborne coatings
Challenges:
Inadequate availability of the skilled labour force
Restraints:
Key raw materials like titanium oxide, pigments, additives, and resins face supply imbalance and price variations, which is directly affecting costing
Opportunities:
Automotive paint increase the endurance of metal and aluminium parts of a vehicle, enabling them to withstand extreme environmental conditions such as heat, acid, UV radiation and dust particle
Market Leaders and their expansionary development strategies
PPG announced that it has reached a definitive agreement to acquire automotive coatings manufacturer Hemmelrath. The transaction is expected to close in the first half of 2019, subject to customary closing conditions
PPG announced that it is increasing its investment in automated dispense cell manufacturing of paint and related coatings for the automotive parts and accessories decorative (APAD) space
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations, End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.