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SOURCE Research and Markets
DUBLIN, Feb. 20, 2014 /PRNewswire/ --
Research and Markets
) has announced the addition of the
report to their offering.
The automotive paints industry has evolved in line with the changing demands from the automotive industry. Both industries are continuously progressing to provide advanced technologies and eco-friendly products to their buyers. Along with the appearance of the vehicle, automotive paints play an important role in the protection of the metal surfaces from rust, damages, and external factors. Colors, textures, and patterns can act as a key decision making factor for the buyers. The demand for these coatings is highly influenced by demand trends in the automotive industry, environmental regulations, health & safety norms, buyer's preferences, lifestyle, and growing economy. These factors should positively affect the automotive paints industry and help to grow its demand in the next five years.
The automotive paints industry has progressed from solvent-borne coatings to waterborne coatings and powder coatings through intense R&D. The main aim behind these advancements is to minimize the hazards caused by the high-VOC solvent-borne coatings. On the other hand, waterborne and powder coatings are gaining popularity owing to their eco-friendly tag with low or zero-VOC content. North American and European countries have issued regulations regarding the contents of VOCs, which has positively influenced the demand for waterborne and powder coatings. Developing countries such as China, South Korea, India, Brazil and Russia among others have also begun the application of waterborne and powder coatings in the conventional paint processes. Hence, considering increasing vehicle demand and upcoming environmental regulations in the next five years, the demand for eco-friendly coatings is likely to grow at a substantial rate.
Due to aforementioned reasons, the automotive OEM coating market is estimated to grow from $8.7 billion in 2013 to $11.7 billion by 2018, growing at a CAGR of 6.06%. China, U.S., Japan, Germany, India, and South Korea are anticipated to be the largest consumers of Automotive Paints in 2013. In terms of growth rate, South Korea, India, U.S., China, U.K., and Mexico are expected to show the highest growth rate for automotive paints demand from 2013 to 2018. As of 2012, the global market for Automotive Paints was dominated by the key players such as PPG Industries (U.S.), BASF (Germany), Axalta Coating Systems/DuPont (U.S.), Kansai Paint (Japan), and Nippon Paint (Japan). These key five players together held about 75% of the total market in 2012.
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Automotive Paints Market, By Geography
6 Global Automotive Paints Market, By Vehicle Types
7 Automotive Paints Market, By Technologies
8 Automotive Paints Market, By Coat Types
9 Global Automotive Paints Market, By Texture Types
10 Competitive Landscape
11 Company Profiles
For more information visit http://www.researchandmarkets.com/research/sv996p/automotive_paints
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