Increasing Demand For Automotive Refinish Applications
Aerosol paints are easy-to-use, high-quality and fast drying paints, which are widely used for automotive refinish applications. Aerosol paints are the ideal solution for providing finishing touches, repairs, and reconditioning automotive components, such as a motorcycle or car parts.
The rising demand for small-scale vehicle touch-up and painting vehicle accessories, owing to their aesthetic superiority is expected to augment the demand for the aerosol market. With increasing production of lightweight vehicles, using advanced engineering materials, the average lifespan of vehicles has increased, globally. Thereby, resulting in the growth of the automotive refinish business.
Thus, the rapidly growing automotive sector and increasing demand for automotive refinish applications is driving the global aerosol paints market.
Architectural coatings To Dominate The Market
Architectural coatings include interior and exterior paints, primers, sealers, varnishes, and stains that are applied on-site to new and existing residential, commercial, institutional, and industrial buildings. Mostly conventional paints are used for architectural coatings application. However, after realizing the cost benefits, and aesthetic quality associated with aerosol paints when used in small-scale, manufacturers are increasingly developing aerosol paints for architectural applications.
North America is, currently, the leading consumer of aerosol paints for architectural coatings application. The American Public Works Association (APWA) has standardized colors for utility and excavation markings. Furthermore, with increasing R&D activities taking place in North America & Europe, manufacturers are now also able to develop low-VOC aerosol paints with comparable performance and durability as VOC containing paints. Therefore, the market of aerosol paints for architectural coating application is benefitted from this development in North America & Europe.
The United States is The Largest Consumer of Aerosol Paints
The United States is currently one of the largest consumers of aerosol paints, globally, and the market is expected to witness a swift growth rate over the forecast period. Factors, such as increasing average age of vehicles, the growing demand from the construction sector, and shifting consumer focus toward low-VOC paints are driving the aerosol paints market in the United States.
Over the past several years, both, commercial and consumer demand for environment-friendly products have been increasing in the United States. As more regulations are put into place, consumers of paints and coatings are becoming aware of the advantages of using green products. The regulations that are increasingly being imposed by these regulatory bodies on paints & coatings manufactures are responsible for the growing adoption of low-VOC paints in the United States. Hence, most aerosol paint manufacturers in the United States are now producing a low-VOC variety of aerosol paint. These new paints are durable, cost-effective and less harmful to human and environmental health.
Furthermore, the increasing production of lightweight vehicles in the United States is increasing the automotive refinish business, thereby, increasing the demand for aerosol paints in the United States.
MAJOR PLAYERS: Krylon, Inc. (Sherwin-Williams Company), PPG Industries, Inc., Rust-Oleum, Membrane Group, and Nippon Paint (Pylox) amongst others
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Increasing Demand for Automotive Refinish Applications
4.1.2 Growing Demand for Architectural Coating Applications
4.1.3 Increasing Application for Anti-Corrosive Coatings in the Metallurgical Industry
4.2.1 Graffiti Abatement Programs in Developed Countries
4.2.2 High Cost of Raw Materials & Stringent VOC Emission Laws
4.2.3 Growing Demand for Powder Coatings
4.3.1 Innovative Product Applications
4.3.2 Shifting Focus toward Developing Eco-friendly Alternatives
5. Market Segmentation and Analysis (Market Size, Share, and Forecast)
5.1 By Raw Material
5.1.4 Metal/Metal filled
5.1.6 Others (Silicone, Vinyl)
5.2 By Technology
5.3 By Application
5.3.1 Architectural Coatings
5.3.2 Industrial/OEM Coatings
5.3.3 Specialty Coatings
5.4 By End-User Industry
5.4.1 Automotive Industry
5.4.2 Construction Industry
5.4.3 Wood and Furniture Industry
6. Regional Market Analysis (Market Size, Share, and Forecast)
6.1.5 South Korea
6.1.6 Australia & New Zealand
6.1.7 ASEAN Countries
6.1.8 Rest of APAC
6.2.2 United Kingdom
6.2.6 Rest of Europe
6.3 North America
6.3.1 United States
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 United Arab Emirates
6.5.4 Rest of MEA
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, Recent Developments, and Analyst View)
8.1 Aeroaids Corporation
8.2 CJ Aerosols Limited
8.5 Kobra Paint
8.6 Krylon, Inc. (Sherwin-Williams Company)
8.8 Masterchem Industries LLC
8.9 MOLOTOW (Belton)
8.10 Montana Colors
8.11 Nippon Paint (Pylox)
8.12 Plutonium Paint
8.13 PPG Industries, Inc.
8.15 Samurai Paint
8.16 Valspar Corporation (PlastiKote)
*List Not Exhaustive
**Subject to availability on public domain
- Aeroaids Corporation
- CJ Aerosols Limited
- Kobra Paint
- Krylon Inc. (Sherwin-Williams Company)
- Masterchem Industries LLC
- MOLOTOW (Belton)
- Montana Colors
- Nippon Paint (Pylox)
- Plutonium Paint
- PPG Industries Inc.
- Samurai Paint
- Valspar Corporation (PlastiKote)