The market is anticipated to witness a significant growth over the years, owing to the growing automotive industry.
The global automotive paint additives market is segmented into type, application, vehicle type, and region. By type, the market is divided into blending solvents, flow enhancers, fisheye eliminator, and others. Deepening on application, it is segregated into automotive decorative paint, automotive antirust paint, automotive fire-retardant paint, and others. On the basis of vehicle type, it is categorized into passenger cars and commercial vehicles. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the automotive paint additives market include BASF SE, PPG, Akzo Nobel N.V, Eastman Chemical Company, LLC, The Sherwin-Williams, Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., DuPont, Clariant, and Solvay.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the global automotive paint additives market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Type
- Blending Solvents
- Flow Enhancers
- Fisheye Eliminator
- Other
By Application
- Automotive Decorative Paint
- Automotive Antirust Paint
- Automotive Fire-Retardant Paint
- Other
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- BASF SE
- PPG
- Akzo Nobel N.V.
- Eastman Chemical Company
- The Sherwin-Williams
- Kansai Paint Co., Ltd.
- Nippon Paint Holdings Co., Ltd.
- DuPont
- Clariant
- Solvay
Table of Contents
Executive Summary
According to the report titled, 'Automotive paint additives Market by Type, Application and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global automotive paint additives market size was valued at $3.29 billion in 2018, and is projected to reach $5.63 billion by 2026, registering a CAGR of 7.0% from 2019 to 2026.Presently, North America dominates the market, followed by Asia-Pacific, Europe, and LAMEA. U.S. dominated the North America automotive paint additives market share in 2018, and is anticipated to maintain its lead during the forecast period.
Blending solvents can be defined as solvents, which are specifically formulated to help in dissolving the dry edges of freshly sprayed 2K clear coat. In addition, blending solvents allow users to keep the repairs to a single panel by creating an invisible blend. Development of the automotive industry and rise in need for eco-friendly paint additives are anticipated to boost the growth of automotive paint additives market. Flow enhancer is a colorless liquid, which can be added to acrylic color to improve its flow and reduce viscosity. In addition, flow enhancers are ideal for achieving smooth coverage, especially for covering large area of surface and help paints to keep a steady pigmentation to achieve opaque coating. In addition, increase in adoption of flow enhancers has been witnessed across the globe, which acts as a key factor driving of the global market. This is attributed to the fact that flow enhancers improve the process ability and reduce energy consumption, which, in turn, is boosting the adoption of flow enhancers.
Fisheye eliminator is used to prevent fisheye, which is a small crater/hole, on the surface that is surrounded by ring of paint and increase the gloss. In addition, it reduces the surface tension of wet paints, improves the paint flow out, inhibits solvent trapping, reduces the telegraph of sand scratches, and helps to prevent beading of the liquid on the contaminated substrate.
Expansion of business by incorporating new manufacturing plants by leading automotive paint additives companies and initiatives taken by automobile companies to improve the quality of automotive paints additives so as to reduce the environmental impact are the key factors anticipated to propel the growth of automotive paints additives market. Automotive paints additive companies are expanding their business in North America by incorporating new manufacturing plants. For instance, Nippon Paint, one of the global leaders in the automotive paints market, incorporated new 270,000-square-foot factory in East Chattanooga, which will propel the market growth, which, in turn, will boost the demand for automotive paints additives.
The growth of the automotive paint additives market is driven increase in vehicle production and surge in demand for innovative and eco-friendly automotive paints for automobiles. This has enforced players to manufacture better and efficient products, which lead to the growth of the market. Numerous paint additives have been introduced due to the increased automobile production and rise in demand for long-lasting paints for vehicles. This demand has supplemented the growth of automotive paint additives market. In addition, implementation of stringent government regulations to opt for eco-friendly paints to reduce the adverse effect on environment is driving the market growth worldwide.
Factor such as increase in automobile production is anticipated to propel the growth of automotive paints additives market. In addition, surge in demand for eco-friendly and innovative automotive paints is boosting the growth of market. However, rise in prices of raw materials hinders the growth of market. On the contrary, production of eco-friendly and cost-effective automotive paints is anticipated to offer remunerative growth opportunity for the players operating in the global automotive paint additives market.
According to Lalit Katare& Anvay Sonpimple, Lead Analysts, Automotive and Transportation “Depending on type, the Fisheye Eliminator segment dominated the global automotive paint additives market in 2018, in terms of revenue. In addition, by application, the automotive fire-retardant paint segment is expected to exhibit remarkable growth rate during the forecast period. Presently, North America is the highest revenue contributor, followed by Asia-Pacific, Europe, and LAMEA.”
KEY FINDINGS OF THE STUDY
On the basis of type, the flow enhancers segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of application, the automotive decorative paint segment is a highest contributor in 2018, in terms of revenue.
Region wise, Asia-Pacific is the fastest growing region, followed by Europe, North America, and LAMEA.
The key players analyzed in this report are BASF SE, PPG, Akzo Nobel N.V, Eastman Chemical Company, LLC, The Sherwin-Williams, Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., DuPont, Clariant, Solvay, and others.
Companies Mentioned
- BASF SE
- PPG
- Akzo Nobel N.V
- Eastman Chemical Company LLC
- The Sherwin-Williams
- Kansai Paint Co. Ltd
- Nippon Paint Holdings Co. Ltd.
- DuPont
- Clariant
- Solvay
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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