Asia Pacific Automotive Paints & Coatings Market to surpass $8.3 Bn By 2026

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Asia Pacific Automotive Paints Coatings Market
to surpass 8.3 Bn By 2026 Graphical Research
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Asia Pacific Automotive Paints and Coatings
Market Size to exceed 8.3 Bn By 2026. Growing
vehicle sales and increasing demand for
refurbished used vehicles is anticipated to
drive the Asia Pacific automotive paints and
coatings market size. Increasing production of
passenger and commercial vehicles is providing
strong opportunities for industry expansion over
the forecast timeframe. Transition in the
consumer preference for aesthetically appealing
paint textures on vehicles is further stimulating
the APAC automotive paints and coatings market
growth. The beneficial properties offered by such
coatings, which include UV protection and color
retention properties are observing higher
traction. Additionally, the augment of several
exterior shades for vehicles and advanced coating
solutions are creating lucrative opportunities
for industry participants in the Asia Pacific
region. Shifting consumer preference for buying
pre-owned and refurbished vehicles is showcasing
strong growth prospects in the Asia Pacific.
Growing consumer inclination towards
customization, repair, and maintenance of
refurbished vehicles will probably significantly
supplement the utilization of automotive paints
and coatings over the study timeframe. The rising
adoption of used cars can be attributed to the
reduced prices along with the availability of
easier financing alternatives. For instance, in
2015, vehicle sales of used cars in Japan
increased to 3,733,321 units with an increase of
over 1.7 compared to the previous year.
Moreover, in 2018, Chinas used vehicle sales
grew by around 12.84 compared to 2017.
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Prominent market players are engaged continuously
in developing the latest processing technologies
to provide cost-effective products. The recent
developments in automobile paint technologies are
aligned with environmental regulations as well as
satisfying consumers with durable exterior
paints. Along with enhanced surface durability,
smart coatings offer several other benefits, such
as vibration damping and super-hydrophobicity.
Collectively these benefits are fueling the
further growth of the automotive paints and
coatings market in the Asia Pacific region.
Moreover, manufacturers are taking strategic
initiatives for offering customized refinishing
paints and coating solutions. For instance, in
July 2018, Berger Paints India entered into an
agreement with Rock Paint Co., Japan for selling
automotive refinish paints in India.   Some of
the key manufacturers involved in the APAC
automotive paints and coatings market include 3M,
Akzo Nobel, Axalta Coating Systems, BSAF SE,
Berger Paints India Limited, Cabot Corporation,
Clariant, Covestro AG, Donglai Coating Technology
(Shanghai) Co., Ltd., DuPont de Nemours, Inc,
Kansai Paint Co., Ltd., Kansai Nerolac Paints
Limited, KCC corporation, Eastman chemical
company, Nippon Paint (M) SDN BHD, and PPG
Industries Inc.  
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Segmentation of Asia Pacific Automotive Paints
and Coatings Market Asia Pacific Automotive
Paints and Coatings Market, By Coating
Type Basecoat Primer Automotive Paints
Coatings Market, By Technology Solvent-borne Water
borne Asia Pacific Automotive Paints and
Coatings Market, By Texture Type Matte Solid The
above information is available for the following
countries India Australia Thailand Japan South
Korea Indonesia
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