Paints that improve the external appearance and
durability of an automobile by shielding it from harsh external factors like
heat, UV 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. North
American automotive refinish paints market is a part of the chemical industry such as paints,
coatings and pigments. North American automotive
refinish paints companies are investing heavily
in R&D activities because use of advanced technologies will cater the
consumer’s requirements. Automobile companies are introducing programs like
direct-repair facilities that is enhancing their performance levels and driving
the growth of North American automotive refinish paints market.
According to the study “North
America Automotive Refinish Paint Industry Situation and Prospects Research
report”, the various
products in the North American 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, superior durability,
lowering maintenance requirements, excellent resistance to UV rays, chemicals,
and corrosion.
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 North America,
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 North America 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 North American automotive
refinish paints market in 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 North America. The growth in North America automotive sector,
rising economy levels, need for a personal
vehicle per individual and modernization will propelled
the automotive refinish paints market over the next few years.
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