Latest Trends & Technology Advancement in Automotive Coatings Market Industry

Investment & expansion was the key strategy adopted by market players to achieve growth in the global automotive coating market. This strategy accounted for the largest share ofall the strategies adopted by the market playersto expand their global presence and increase their market share in the automotive coating market between 2013 and 2016. The demand from customer for different color & texture, increasing population, and growing purchasing power parity (PPP) in emerging economiesare the important factors driving the automotive coating market. Developmentsin end-use industries have encouraged automotive coating manufacturers to adopt various growth strategies.

Browse?216 market data Tables and?55 Figures spread through?247 Pages and in-depth TOC on "Automotive Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic, and Others), Technology (Solvent-based, Water-based, and Powder-based), Coat Type (Clearcoat, Basecoat, Primer, and E-coat), and Region - Global Forecast"

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Some of the leading automotive coating manufacturers are BASF SE (Germany), Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), Kansai Paint Co.,Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), KCC Corporation (South Korea),Sherwin-Williams (U.S.), AkzoNobel (Netherlands), Jotun A/S (Norway), and others. They adopted various organic and inorganic growth strategies to improve their businesses and maintain their market share, globally.

Companies adopted strategies such as investment & expansion,new product launch,merger & acquisition, and partnership, agreements, contracts & joint venture to increase their market share and expand their distribution network, globally. Investment & expansion accounted for a significant share of the total number of growth strategies adopted by players in the global automotive coating market between 2013 and 2016.

Major players such as BASF SE (Germany), Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), Kansai Paint Co., Ltd (Japan), and Nippon Paint Holdings Co., Ltd. (Japan) adopted investment & expansion as their key strategy for growth between 2013 and 2016.?

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Key companies such as BASF SE (Germany), Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), Kansai Paint Co., Ltd (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), KCC Corporation (South Korea), Sherwin-Williams (U.S.), AkzoNobel (Netherlands), and Jotun A/S (Norway) are profiled in this report.

In January 2016, PPG Industries Inc. (U.S.) expanded its production capacity for automotive coating (E-coat) in Zhangjiagang, China. This development is expected to enable the company to cater to the growing local demand.

?In June 2016, the joint venture between BASF SE (Germany) and Shanghai Huayi Fine Chemical Co., Ltd, (China) in Shanghai, China expanded its automotive coating production capacity. USD 156 Million was invested in the existing production plant. The production is expected to start in the fourth quarter of 2017. This development is expected to drive the automotive coating market in the region.?

Axalta Coating Systems (U.S.) opened new production facility for water-borne coating in Shanghai, China in March 2015. This facility has ultra-modern and automated technology for production. This development is expected to enable the company to cater to the growing local demand from end-use industries.

The global market size of automotive coating is estimated to be USD 11.57 billion in 2016 and is projected to reach USD 16.24billion by 2021, at a CAGR of 7.02% between 2016 and 2021.Demand from end users for different color & texture, increasing population, and increasing purchasing power of people in emerging economies are the key factors which drivethe automotive coating market.

Various regulation in North America and European countries on VOC substances in coating is expected to change focus of coating manufacturers towards eco-friendly and green coating technologies such as water-borne and powder coatings. The high growth in end-use industries from developing countriesis expected to drive the market during the forecast period.

Basecoat is projected to be the fastest-growing coat type in theautomotive coating market during the forecast period. The growth for this segment is high as new and innovative technologies are being developed by automotive coating producers. For instance, in new integrated systems, the primer layer is omitted and is replace with two layers of basecoat. One layer of basecoat absorbs UV radiation and other is advanced basecoat. This kind of technological developments are expected to drive the basecoat segment in the automotive coating market.?

Water-borne technology is projected to be the fastest-growing technology segment of the automotive coating marketduring the forecast period. This is attributed its low toxicity, low VOC levels, and low HAP emissions, which helps reduce air emission. North America and European countries have regulations which boost the use of eco-friendly technologies in coating systems. Hence, water-borne technology is expected to grow rapidly during the forecast period.

On the basis of type, the polyurethane resin segment accounts for the largest share of the overall automotive coating market. This resin is widely used for clearcoat, which accounted for 38% of the market in 2015. Heat, corrosion, and impact resistance and flexibility of this resin makes it suitable for use in clearcoat layer. This resin is expected to dominate the automotive coating market during the forecast period.

Asia-Pacific is the fastest-growing automotive coating market, in terms of both value and volume. Countries such as China, South Korea, India, Indonesia, and Thailand are witnessing a gradual increase in the use of automotive coating inend-use industries. In 2015, China dominated the automotive coating market in Asia-Pacific, accounting for a market share of almost 51%. It is projected to remain the biggest market in the Asia-Pacific region due to its high economic growth rate, growing purchasing power, developing infrastructure, increasing demand from end-use industries, and a global shift in production capacity from the developed markets to this region. China is followed by South Korea and India, where there is high demand for automotive coating.

Companiesare constantly strengthening their R&D capabilities to provide eco-friendly products. These products are manufactured adhering to the regulations set by various associations and governments. All these developments are expected to lead to sustainable growth of the automotive coating market in the next five years. BASF SE (Germany), Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), Kansai Paint Co., Ltd (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Valspar Corporation (U.S.), KCC Corporation (South Korea), Sherwin-Williams (U.S.), AkzoNobel (Netherlands), and Jotun A/S (Norway) are the active players of the global automotive coatingmarket.