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Asia-Pacific Automotive Paint Market, Growth & Forecast, COVID-19 Impact, Industry Trends, By Products Type, Opportunity Company Analysis

  • ID: 5411836
  • Report
  • August 2021
  • Region: Asia Pacific
  • 135 Pages
  • Renub Research

FEATURED COMPANIES

  • Akzonobel N.V
  • Arkema Group (Bostik Sa)
  • Axalta Coatings Systems
  • BASF SE
  • Berger Paints India Ltd
Asia-Pacific economies are surging fast, boosting growth in the demand for many automobiles sector. China is by far the most significant automotive paint market in the Asia-Pacific region, followed by India, and Japan. Automotive paint is a water-based mixture that is sprayed on the surface of automobiles with the help of spray guns. Vehicle coatings that are creative and environmentally friendly are in high demand in the Asia automotive industry. As a result, a shift in consumer preference toward eco-friendly paints over traditional paints is crucial in market expansion. In the market, most eco-friendly paints are water-borne, whereas traditional paints are solvent-borne. The market share of water-borne systems has grown rapidly, owing to their favourable properties, such as mild odour, increased availability, and fast-drying. Furthermore, Powder coating and High-Solid are also receiving widespread attention in industrial research. According to the publisher, the Asia-Pacific Automotive Paint Market will reach US$ 7.37 Billion by 2027.



The paints are made up of polyurethane-based enamel, which preserves the car's surface from environmental harm while also improving its appearance. Low volatile organic compounds are found in automotive paints (VOCs). In the Asia Pacific, automotive paints are in high demand in the automobile industry due to the reduced exposure to pollutants. In Asia- Pacific, demand for automobiles has fueled the rise of the automotive paints industry. The Asia-Pacific Automotive Paint Market will grow with a CAGR of 5.67 % during 2021-2027.

Automotive paints are generally used to finish a wide range of automobiles for personal, commercial, and industrial use in the Asia-Pacific’s region. Applying paint to a car consists typically of three processes: the primer, the basecoat, and the clear coat. Basecoat is most widely applied as the primary color coat to the surface. In this report, the Asia Pacific automotive paint market is segmented by vehicle type comprised of passenger cars, light commercial vehicles and heavy commercial vehicles. The passenger cars market has witnessed a rise in its revenue among all types due to surging vehicle production, rising disposable income, and purchasing power of consumers.

Asia Pacific automotive paint market is one market, but it is an amalgamation of several markets. China is the most significant part of the Asian market, comprising lion’s market share. China is the world's largest manufacturer of automobiles. However, in 2018, the country's car production fell to 27.8 Million automobiles; due to economic developments and China's trade conflict with the US impact the car industry's performance. Other than China India and Japan are largest markets. The factors which are surging Asia Pacific automotive paint market are the presence of both developed and developing economies. As per our study the Asia-Pacific Automotive Paint Market Size was US$ 5.01 Billion in 2020.

Consumers are adopting advanced coatings to achieve better protection from extreme heat, acid rains, and UV radiation, which are supposed to further expand market. On the flip side, the market is facing various challenges like increased environmental concerns and regulations in India. A slowdown in vehicle production is anticipated to influence the market negatively.

COVID-19 Impact on Automotive Paint Industry of Asia

COVID-19 has harmed the Asia Pacific automotive paint market. As a result of the epidemic, numerous countries in the region went into lockdown, halting all production and building activity, negatively impacting demand in the paints and coatings sector. However, it is projected that the situation would improve in 2021, resuming the market's growth trajectory.

This report titled “Asia-Pacific Automotive Paint Market” is segmented on the basis of Product type (Primer, Base coat, Electro coat, And Clear coat) Technology type (Water-borne, Solvent-borne, Powder coatings, UV curing, and High solid), Application type (Light, Passenger, Heavy commercial), and countries (India, China, Japan, South Korea, Asian Countries, Australia & New Zealand, and Others)” provides a complete analysis of Asia-Pacific Automotive Paint Industry.

Products Type -Market has been covered from 4 view points

1. Primer
2. Electrocoat
3. Basecoat
4. Clearcoat

Technology - Market has been covered from 5 view points

1. Water- borne
2. Solvent-borne
3. Powder coating
4. UV curved
5. High-Solid

By Application - Market has been covered from 3 view points

1. Light Commercial Vehicle
2. Passenger Car
3. Heavy Commercial Vehicle

By Region - Market has been covered from 7 view points

1. China
2. Japan
3. India
4. South Korea
5. Asean Countries
6. Australia & New Zealand
7. Rest of Asia

All companies have been covered from 2 view points

  • Overview
  • Initiatives

Comany Covered in this Report

1. Akzonobel N.V
2. Arkema Group (Bostik Sa)
3. Axalta Coatings Systems
4. BASF SE
5. Berger Paints India Ltd
Frequently Asked Questions about the Asia-Pacific Automotive Paint Market

What is the estimated value of the Asia-Pacific Automotive Paint Market?

The Asia-Pacific Automotive Paint Market was estimated to be valued at $5.0 Billion in 2020.

What is the growth rate of the Asia-Pacific Automotive Paint Market?

The growth rate of the Asia-Pacific Automotive Paint Market is 5.7%, with an estimated value of $7.4 Billion by 2027.

What is the forecasted size of the Asia-Pacific Automotive Paint Market?

The Asia-Pacific Automotive Paint Market is estimated to be worth $7.4 Billion by 2027.

Who are the key companies in the Asia-Pacific Automotive Paint Market?

Key companies in the Asia-Pacific Automotive Paint Market include Akzonobel N.V, Arkema Group (Bostik Sa), Axalta Coatings Systems and Berger Paints India Ltd.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Akzonobel N.V
  • Arkema Group (Bostik Sa)
  • Axalta Coatings Systems
  • BASF SE
  • Berger Paints India Ltd

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Market Drivers
4.2 Challenges
5. Asia Pacific Automotive Paints Market
6. Market Share - Asia Pacific Automotive Paints Market
6.1 By Products Type
6.2 By Technology
6.3 By Application
6.4 By Region
7. Products Type - Asia Pacific Automotive Paints Market
7.1 Primer
7.2 Electrocoat
7.3 Basecoat
7.4 Clearcoat
8. Technology - Asia Pacific Automotive Paints Market
8.1 Water- borne
8.2 Solvent-borne
8.3 Powder coating
8.4 UV curved
8.5 High-Solid
9. Application - Asia Pacific Automotive Paints Market
9.1 Light Commercial Vehicle
9.2 Passenger Car
9.3 Heavy Commercial Vehicle
10. Region - Asia Pacific Automotive Paints Market
10.1 China
10.2 Japan
10.3 India
10.4 South Korea
10.5 Asean Countries
10.6 Australia New Zealand
10.7 Rest of Asia
11. Company Analysis
11.1 AKZONOBEL N.V
11.1.1 Overview
11.1.2 Initiatives
11.2 ARKEMA GROUP (BOSTIK SA)
11.2.1 Overview
11.2.2 Initiatives
11.3 AXALTA COATINGS SYSTEMS
11.3.1 Overview
11.3.2 Initiatives
11.4 BASF SE.
11.4.1 Overview
11.4.2 Initiatives
11.5 BERGER PAINTS INDIA LTD.
11.5.1 Overview
11.5.2 Initiatives
List of Figure:
Figure-01: Asia Pacific Automotive Paints Market (Billion US$), 2017 - 2020
Figure-02: Forecast for - Asia Pacific Automotive Paints Market (Billion US$), 2021 - 2027
Figure-03: Product - Primer Market (Million US$), 2017 - 2020
Figure-04: Product - Forecast for Primer Market (Million US$), 2021 - 2027
Figure-05: Product - Electrocoat Market (Million US$), 2017 - 2020
Figure-06: Product - Forecast for Electrocoat Market (Million US$), 2021 - 2027
Figure-07: Product - Basecoat Market (Million US$), 2017 - 2020
Figure-08: Product - Forecast for Basecoat Market (Million US$), 2021 - 2027
Figure-09: Product - Clearcoat Market (Million US$), 2017 - 2020
Figure-10: Product - Forecast for Clearcoat Market (Million US$), 2021 - 2027
Figure-11: Technology - Water - Borne Market (Million US$), 2017 - 2020
Figure-12: Technology - Forecast for Water - Borne Market (Million US$), 2021 - 2027
Figure-13: Technology - Solvent - Borne Market (Million US$), 2017 - 2020
Figure-14: Technology - Forecast for Solvent - Borne Market (Million US$), 2021 - 2027
Figure-15: Technology - Powder Coating Market (Million US$), 2017 - 2020
Figure-16: Technology - Forecast for Powder Coating Market (Million US$), 2021 - 2027
Figure-17: Technology - UV Curved Market (Million US$), 2017 - 2020
Figure-18: Technology - Forecast for UV Curved Market (Million US$), 2021 - 2027
Figure-19: Technology - High - Solid Market (Million US$), 2017 - 2020
Figure-20: Technology - Forecast for High - Solid Market (Million US$), 2021 - 2027
Figure-21: Application - Light Commercial Vehicle Market (Million US$), 2017 - 2020
Figure-22: Application - Forecast for Light Commercial Vehicle Market (Million US$), 2021 - 2027
Figure-23: Application - Passenger Car Market (Million US$), 2017 - 2020
Figure-24: Application - Forecast for Passenger Car Market (Million US$), 2021 - 2027
Figure-25: Application - Heavy Commercial Vehicle Market (Million US$), 2017 - 2020
Figure-26: Application - Forecast for Heavy Commercial Vehicle Market (Million US$), 2021 - 2027
Figure-27: China - Asia Pacific Automotive Paints Market (Million US$), 2017 - 2020
Figure-28: China - Forecast for Automotive Paints Market (Million US$), 2021 - 2027
Figure-29: Japan - Asia Pacific Automotive Paints Market (Million US$), 2017 - 20203
Figure-30: Japan - Forecast for Automotive Paints Market (Million US$), 2021 - 2027
Figure-31: India - Asia Pacific Automotive Paints Market (Million US$), 2017 - 2020
Figure-32: India - Forecast for Automotive Paints Market (Million US$), 2021 - 2027
Figure-33: South Korea - Asia Pacific Automotive Paints Market (Million US$), 2017 - 2020
Figure-34: South Korea - Forecast for Automotive Paints Market (Million US$), 2021 - 2027
Figure-35: ASEAN Countries - Asia Pacific Automotive Paints Market (Million US$), 2017 - 2020
Figure-36: ASEAN Countries - Forecast for Automotive Paints Market (Million US$), 2021 - 2027
Figure-37: Australia New Zealand - Asia Pacific Automotive Paints Market (Million US$), 2017 - 2020
Figure-38: Australia New Zealand - Forecast for Asia Pacific Automotive Paints Market (Million US$), 2021 - 2027
Figure-39: Rest of Asia Pacific - Asia Pacific Automotive Paints Market (Million US$), 2017 - 2020
Figure-40: Rest of Asia Pacific - Forecast for Asia Pacific Automotive Paints Market (Million US$), 2021 - 2027
Figure-41: AKZONOBEL N.V - Global Revenue (Million US$), 2017 - 2020
Figure-42: AKZONOBEL N.V - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-43: ARKEMA GROUP (BOSTIK SA) - Global Revenue (Million US$), 2017 - 2020
Figure-44: ARKEMA GROUP (BOSTIK SA) - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-45: AXALTA COATINGS SYSTEMS - Global Revenue (Million US$), 2017 - 2020
Figure-46: AXALTA COATINGS SYSTEMS - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-47: BASF SE - Global Revenue (Million US$), 2017 - 2020
Figure-48: BASF SE - Forecast for Global Revenue (Million US$), 2021 - 2027
Figure-49: BERGER PAINTS INDIA LTD. - Global Revenue (Million US$), 2017 - 2020
Figure-50: BERGER PAINTS INDIA LTD. - Forecast for Global Revenue (Million US$), 2021 - 2027
List of Tables:
Table-01: Asia Pacific Automotive Paints Market Share by Product (Percent), 2017 - 2020
Table-02: Forecast for - Asia Pacific Automotive Paints Market Share by Product (Percent), 2021 - 2027
Table-03: Asia Pacific Automotive Paints Market Share by Technology (Percent), 2017 - 2020
Table-04: Forecast for - Asia Pacific Automotive Paints Market Share by Technology (Percent), 2021 - 2027
Table-05: Asia Pacific Automotive Paints Market Share by Application (Percent), 2017 - 2020
Table-06: Forecast for - Asia Pacific Automotive Paints Market Share by Application (Percent), 2021 - 2027
Table-07: Asia Pacific Automotive Paints Market Share by Region (Percent), 2017 - 2020
Table-08: Forecast for - Asia Pacific Automotive Paints Market Share by Region (Percent), 2021 - 2027
Note: Product cover images may vary from those shown
  • Akzonobel N.V
  • Arkema Group (Bostik Sa)
  • Axalta Coatings Systems
  • BASF SE
  • Berger Paints India Ltd
Note: Product cover images may vary from those shown

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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