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Global Automotive Refinish Coating Additives Markets
Frost & Sullivan, May 2009, Pages: 165
This research service analyzes the global automotive refinish coatings and additives market. Major drivers, restraints and industry challenges are discussed in detail. It also provides a discussion on technology trends, competitive structure with the market share analysis and unit shipment and revenue forecasts.
This Frost & Sullivan research service titled Global Automotive Refinish Coating Additives Markets provides individual regional forecasts for wetting and dispersants, surface and flow control modifiers, light stabilizers, rheology modifiers and defoamers. Major drivers, restraints and industry challenges are discussed in detail. The study also provides a discussion on technology trends, competitive structure with the market share analysis and unit shipment and revenue forecasts. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: solvent-borne, water-borne, and UV cure coatings.
Transition to Water-borne Coatings Help Sustain Growth in Global Automotive Refinish Coating Additives Markets
The global automotive refinish coating markets are transitioning to water borne technology, which requires much higher volumes of additives compared to traditional solvent borne coatings. The main driver for the shift is increasing stringent environmental regulations, particularly in North America and Europe. This has created high demand for low- or no- volatile organic compounds (VOC) coatings such as water-based, high-solids, powder, and radiation-cure coatings, as opposed to conventional solvent-based coatings. “Water-based paints generally require twice the amount of additives used in solvent based paints to provide similar performance or processing benefits,” notes the analyst of this research service. “Water-based paints tend to foam; hence, they require defoamers, which may not be necessary in solvent-based paints.” Along with defoamers, paint manufacturers require other property-modifying additives to compensate for the low solvent content in paints and enhance the coating surface’s performance.
However, the replacement of solvent-based coatings with more aqueous and VOC-free coatings has the disadvantages of low surface performance, increased drying time, and higher cost. Additive suppliers will have to focus their efforts and resources on developing additives that are specifically designed for the new technology-based paints and coatings. Anticipating stricter regulations in the future, manufacturers have been actively investing in R&D to develop environment friendly products that will allow them to stay a cut above the competition. Developing ultraviolet (UV) cure coatings for the automotive refinish market will remain a key R&D focus area. UV clear coats are used in niche applications, where high gloss retention, durability, and chemical as well as scratch resistance is required.
The accelerated pace of economic activity in BRIC countries (Brazil, Russia, India and China) also bodes well for the market. Increasing automotive sales in these regions are encouraging manufacturers of refinish coatings formulations and additives to move away from the mature markets of North America, Japan, and Europe, and focus attention on the emerging markets. “The falling accident rates in the mature economies, coupled with declining automotive production and sales attributed to the on going recession is impacting the volumes of refinish coating sales and consequently that of additives,” says the analyst. “However, stimulus packages provided by the various federal governments to revive their respective economic growth in general are expected to drive global automotive production and sales.”
Refinish coatings formulators are pressurized to grow sales and maintain their profit margins, and are exploring new avenues for growth through innovation. For this, the strong support of their suppliers, namely additives, resin, and pigment companies is essential. Additives manufacturers must assist coatings formulators by providing high-quality products and introducing superior additives that satisfy the unmet needs of consumers. This would guarantee the steady demand for the existing additives despite declining refinish coatings sales volumes in the mature economies affected by recession. Also, additives manufacturers must offer high-quality technical service to win customer confidence and loyalty.
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