According
to the study “Asia Automotive Refinish Paint
Industry Situation and Prospects Research Report”, the various
products in Asian automotive refinish paints are primer, base coat, top coat,
and clear coat. The
clearcoat segment will account for a major share in the next few years due to
its huge demand. Clearcoat is the final layer after basecoat in
the automotive refinish paint process which provides durability, scratch
resistance, chemical resistance, protects against UV rays and provides a
lustrous look to the vehicle. Advanced technology has led to introduction of
polyurethane resins in the automotive refinish paints that are widely used as
clearcoat and basecoat. This resin provides the automobile with higher gloss,
excellent finish, and superior durability, lowering maintenance requirements,
excellent resistance to UV rays, chemicals, and corrosion.
Paints
that improve the external appearance and durability of an automobile by
shielding it from harsh external factors like heat, ultraviolet radiation, cold
and grit are technically known as automotive refinish paints or automotive
coatings. The automotive refinish paints are widely used in automotive
aftermarkets, after vehicle repairs and refinishing. Automotive refinish paints
market is a part of the chemical industry which manufactures paints, coatings
and pigments. Asian automotive refinish paints companies are investing heavily in R&D
activities due to the advent and need for advanced technologies in the
manufacturing process. Almost all the automobile companies are introducing
programs like direct-repair facilities that is enhancing their performance
levels and driving the growth of automotive refinish paints market.
Solvent borne paints are another type of automotive
refinish paints that offers higher gloss and excellent adhesion compared to
other newer technologies. Solvent borne automotive refinish paints are
less affected by environmental conditions such as temperature and humidity
during the curing phase. However, due to implementation of various
stringent environmental regulations in Asia, there is a decline in the
consumption of solvent borne automotive refinish paints. This trend has also
encouraged the development of water-borne products, which have a lesser
negative impact on the environment.
The leading players in Asia’s automotive refinish
paints market are 3M, Kazoo Nobel N.V., Axalta Coating Systems, PPG Industries,
Sherwin Williams Company, Dow Chemical Company, HMG Paints Limited, Covestro
AG, DSM, Nippon Paint Holdings Co., Ltd, U.S. Paint Corporation, Samhwa Paints
Industrial Co. Ltd, Novol Sp. Z.o.o., Noroo Paint & Coatings, The Lubrizol
Corporation, WEG Group, Alps Coating Sdn. Bhd., and Guangzhou Zhenroumei
Chemical Coating Limited. These prominent players in the market are intensely
focusing on mergers and acquisitions activities to withstand the huge
competition. Advanced technology in refinish paints market will increase the
competitive environment amongst the leading players.
It was
observed that there is a significant rise in the used vehicle market and
increasing numbers of road accidents have resulted in growth of the base coat
category in Asian automotive
refinish paints market over
the recent years. High disposable incomes and tendency of timely repairs are
amongst the key factors influencing the growth of the automotive refinish paints market in Asia. Evolution in
automotive sector, rising economy levels, need for a personal vehicle per
individual and
modernization is propelling Asian automotive refinish paints market and will
continue over the next few years.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249








