What is Automotive Paint Additives Market?
Additives are often said to be the low-level constituent in the paints that provides specific properties to the paint like deforming, resistance, leveling, and good flow. Paints usually work as anti-fungal and algae resistant and are rapid drying and more durable due to some of the additives which are present in the paint. Additives are special components of the paint that make it durable and perfect for use as per requirement. Additives are used in very small quantities so as to impart some additional characteristics and traits to the paint. Usage of additives in the correct order, at the exact time, and in the accurate proportion in the paint can improve the appearance, flow of paints and the durability of the coating. The addition of additives in paint breaks the bubbles that are formed in the paint at the time of mixing for applying on the automotive. The idea of using additives in paint is also for improving manufacturing and storing properties.
Highlights from Automotive Paint Additives Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF Coatings (Germany), PPG Industries Inc. (United States), Sherwin Williams Co. (United States), DuPont Coatings & Color Technologies (United States), Allnex (Germany), RPM International Inc. (United States), Nippon Paints Co Ltd. (Japan), Axalta Coating Systems (United States), Kansai Paint Co Ltd. (Japan), AkzoNobel Coatings (Netherlands), The Valspar Corp. (United States), UreKem Paints (United States) and BYK Additives & Instruments (Germany) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Paint Additives market throughout the forecasted period.
BASF Coatings (Germany), PPG Industries Inc. (United States), Sherwin Williams Co. (United States), DuPont Coatings & Color Technologies (United States), Allnex (Germany), RPM International Inc. (United States), Nippon Paints Co Ltd. (Japan), Axalta Coating Systems (United States), Kansai Paint Co Ltd. (Japan), AkzoNobel Coatings (Netherlands), The Valspar Corp. (United States), UreKem Paints (United States) and BYK Additives & Instruments (Germany) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Clariant (Switzerland), Patcham FZC (UAE) and Eastman Chemical Company (United States). Automotive Paint Additives Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Automotive OEM Coatings, Automotive Refinish Coatings and Others |
Type | Deformers, Anti- Corrosive Additives, Anti-Settling Additives and Others |
Forms | Solvent Borne,Solvent Free,Aqueous |
Functionality | Flow & Leveling,Gloss,Wetting Agent,Interfacial Perspective,Stain Resistance |
Sales Channel | Online,Offline |
On the basis of geography, the market of Automotive Paint Additives 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in Trend of Customers Demands of Various Properties for Their Automotive Such As Finishing, Texture, and Eco-Friendliness Has Boosted This Market
Market Growth Drivers:
Rapid Growth of Automobile Sector in Emerging Economies is Driving the Market Demand and Increase in the Demand of Consumers for Highly Appealing Automotive is a Factor That Has Been Driving the Growth of Automotive Paint Additive Market
Challenges:
The Growing Concerns for Environment Related Issues May Hamper the Growth of the Automotive Paint Additives Market
Restraints:
Severe Regulations Associated with Usage of Additives Set by Government
Opportunities:
Growing innovation of more paint additive products that are more eco-friendly
Key Target Audience
Manufacturers of Automobile Paint Additives, Suppliers of Automobile Paint Additives, Automobile Industry, Paint Industry, Regulatory Bodies and Governmental Bodies
Market Leaders & Development Strategies
On February 5th, 2020 – PPG announced that it has reached a definitive agreement to acquire Alpha Coating Technologies, LLC (“Alpha”), a manufacturer of powder coatings for light industrial applications and heat-sensitive substrates. The transaction is expected to close in the first quarter of 2020, subject to customary closing conditions. Founded in 2000, Alpha focuses on the development, manufacture, and sale of powder coatings for light industrial applications; medium density fiberboard and heat-sensitive substrates; and toll manufacture powder coatings for metal and light industrial applications. Alpha employs approximately 35 people at its operations in West Chicago, Illinois.
On November 12th, 2019 – BASF has globally launched two innovative polyacrylate based leveling agents: Efka® FL 3750 and Efka® FL 3755, which are specifically developed for all solvent-borne and solvent-free coatings. Efka® FL 3750 and Efka® FL 3755 demonstrates brilliant compatibility in solvent-borne resin systems like acrylic melamine, 2K PU, alkyd, polyester, and nitrocellulose lacquer. Other highlights include outstanding heat stability across paint systems ranging from 2K PU ambient curing to high-temperature baking of acrylic and polyester coil systems.