Global Automotive Paint Additives Market: Overview
Paint additives are formulations that enhance the quality, functionality, and performance of paints and coatings, and are characterized by attributes such as antibacterial, antifungal, and odorlessness. In the automotive sector, these paint additives are used to modify, preserve, and control surfactant agents. With rising population across the world and increasing disposable income, the automotive sector is currently thriving, whose reflection is quite evident on the global automotive paint additive market, which is projected for a healthy growth rate during the forecast period of 2016 to 2024.
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This report on the global market for automotive paint additives has been prepared to act as information guide as far as business decision making is concerned by the audiences such as coating additive manufacturers, coating additive suppliers, coating traders, distributors, and suppliers, raw material suppliers, and other service providers. The report examines all the factors that may influence the demand in the near future, and estimates the condition of the market until 2024. Among the key feature of the report is the section on company profiles, which has been carefully crafted in order to provide an insight into the market shares, product classifications, and regional presence of some of the key players in this market.
Global Automotive Paint Additives Market: Drivers and Restraints
In the automotive sector, paint additives help in improving the UV protection, aid in anti-catering, reduce foaming and chipping of the coatings as well as enhance the dispersions of solids. With these paint additives, automobile parts are able to deal robustly against moisture, abrasion, chemicals, and high temperature. As automobiles are expensive everyday products, consumers readily invest to maintain its utmost appearance, which is the primary factor driving the global automotive paint additives market. Moreover, restrictions on water-based paints, which emit volatile organic chemicals (VOC), are further augmenting the demand for automotive paint additives. In the recent times, new additives have been formulated that come with self healing properties. This has factor has further fueled the demand in this market. Conversely, high price of these paint additives is the most prominent factor that is restricting the market from achieving its true potential. The opportunity for players in this market is to research and develop paint additives that are cost-efficient and yet meet the desired result, in order to gain ground over their competitors.
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Global Automotive Paint Additives Market: Region-wise Outlook
Asia Pacific, which resides nearly half of the world’s population and has several emerging economies with rapid urbanization such as India, China, Japan, South Korea, and Australia, is the most lucrative region for this market, owing to the flourishing automotive sector. European and North American region are also expected to sustain the demand at a moderate rate during the forecast period. These two regions are matured in nature and new technology is taking over.
Companies mentioned in the research report
BASF Coatings, DuPont Coatings & Color Technologies, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd., AkzoNobel Coatings, Eastman Chemical Company, PPG Industries Inc, Sherwin-Williams Co., and Valspar Corp. are some of the leading companies currently operational in the global automotive paint additives market. These key players are continuously investing on research and development of new paint additives that comply with environmental regulations and produce greater results, in order to add to their market shares.
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