Short Description
Asia-Pacific Automotive Refinish Coatings Market, By Resin Type (Epoxy, Acrylic, Polyester, Alkyd, Polyurethane, Vinyl and Others), Product Type (Clearcoats, Basecoats, Primer & Filler, Activator/Hardeners and Others), Component Type (One Component (1K) and Two Component (2K)), Formulation Type (Solvent Borne Coatings, Water Borne Coatings, High Solid Coatings, UV Cured and Others), Vehicle Age (Less than 5 years, 5-10 years and More than 10 years), Application (Passenger Cars, Two-Wheelers, Commercial Vehicles, and Industrial Vehicles) Country (China, India, Japan, South Korea, Australia & New Zealand, Singapore, Indonesia, Philippines, Thailand, Malaysia and Rest Of Asia-Pacific) Industry Trends and Forecast to 2029
Market Definition
Automotive refinish coatings are used by automotive body shops and repair centers for refinishing vehicles. These coatings are applied to new/old passenger and commercial vehicles to cover up the damages on the body caused by extreme temperatures, accidents, and impacts from stones. Some commonly used refinish coatings include primer, filler, topcoat, the basecoat, and activator or hardener coatings. The automotive refinish coatings market also enhances the appearance of vehicles and improves their durability, along with growing demand for recreational vehicles and an increase in the number of vehicle collisions on a large scale. Automotive refinish coatings covers the painting of cars, trucks, or other vehicles, partly or totally, and of single parts of vehicles, often after mechanical or coachwork repairing.
Market Segmentation
The Asia-Pacific automotive refinish coatings market is segmented into six notable segments based on resin type, product type, component type, formulation, vehicle age, and application.
On the basis of resin type, market is segmented into epoxy, acrylic, polyester, alkyd, polyurethane, vinyl, and others
On the basis of product type, market is segmented into clearcoats, basecoats, primer & filler, activator/hardners, and others
On the basis of component type, market is segmented into one component (1K) and two component (2K)
On the basis of formulation, market is segmented into solvent borne coatings, water borne coatings, high solid coatings, UV cured, and others
On the basis of vehicle age, market is segmented into less than 5 years, 5-10 years, and more than 10 years
On the basis of application, market is segmented into passenger cars, two-wheelers, commercial vehicles, and industrial vehicles
Market Players
Some of the major players operating in the Asia-Pacific automotive refinish coatings market are:
PPG Industries Inc
Akzo Nobel N.V.
BASF SE
The Lubrizol Corporation (A Subsidiary of Berkshire Hathaway)
NIPSEA Group
Axalta Coating Systems, LLC
3M
Sherwin-Williams Company
Kansai Paint Co., Ltd.
RPM International Inc.
Berger Paints India Limited
Guangzhou Zhenroumei Chemical Coating Limited
KCC CORPORATION
NOROO Paint & Coatings co.,Ltd.
TABLE OF CONTENTS
1 INTRODUCTION 17
1.1 OBJECTIVES OF THE STUDY 17
1.2 MARKET DEFINITION 17
1.3 OVERVIEW OF THE ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET 17
1.4 LIMITATION 19
1.5 MARKETS COVERED 19
2 MARKET SEGMENTATION 21
2.1 MARKETS COVERED 21
2.2 GEOGRAPHICAL SCOPE 22
2.3 YEARS CONSIDERED FOR THE STUDY 22
2.4 CURRENCY AND PRICING 22
2.5 DBMR TRIPOD DATA VALIDATION MODEL 23
2.6 RESIN TYPE LIFE LINE CURVE 26
2.7 MULTIVARIATE MODELING 27
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 28
2.9 DBMR MARKET POSITION GRID 30
2.10 MARKET APPLICATION COVERAGE GRID 31
2.11 DBMR MARKET CHALLENGE MATRIX 32
2.12 VENDOR SHARE ANALYSIS 33
2.13 IMPORT-EXPORT DATA 34
2.14 SECONDARY SOURCES 35
2.15 ASSUMPTIONS 35
3 EXECUTIVE SUMMARY 36
4 PREMIUM INSIGHTS 38
4.1 CLIMATE CHANGE SCENARIO 39
4.1.1 ENVIRONMENTAL CONCERNS 39
4.1.2 INDUSTRY RESPONSE 39
4.1.3 GOVERNMENT'S ROLE 39
4.1.4 ANALYST RECOMMENDATION 40
4.2 PESTLE ANALYSIS 41
4.2.1 POLITICAL FACTORS 41
4.2.2 ECONOMIC FACTORS 42
4.2.3 SOCIAL FACTORS 42
4.2.4 TECHNOLOGICAL FACTORS 42
4.2.5 LEGAL FACTORS 42
4.2.6 ENVIRONMENTAL FACTORS 42
4.3 PRICE TREND ANALYSIS 43
4.4 PRODUCTION CONSUMPTION ANALYSIS- ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET 44
4.5 RAW MATERIAL PRODUCTION COVERAGE 46
4.6 REGULATION COVERAGE 47
4.7 SUPPLY CHAIN ANALYSIS 48
4.7.1 OVERVIEW 48
4.7.2 LOGISTIC COST SCENARIO 48
4.7.3 IMPORTANCE OF LOGISTICS SERVICE PROVIDERS 48
4.8 TECHNOLOGY ADVANCEMENTS 49
5 MARKET OVERVIEW 50
5.1 DRIVERS 52
5.1.1 INCREASE IN DEMAND FOR REGULAR MAINTENANCE AND REPAIR OF AUTOMOTIVE VEHICLES 52
5.1.2 RISE IN THE NUMBER OF ACCIDENTS 52
5.1.3 GROWTH IN SALES OF LUXURY VEHICLES ON ACCOUNT OF RAPID URBANIZATION AND IMPROVING INCOME LEVELS 53
5.2 RESTRAINTS 53
5.2.1 GOVERNMENT REGULATIONS ON THE USE OF HIGH VOLATILE ORGANIC COMPOUND (VOC) LEVEL COATINGS 53
5.2.2 VOLATILITY IN RAW MATERIAL COSTS 54
5.3 OPPORTUNITIES 55
5.3.1 INCREASE IN PREFERENCE FOR AFTERMARKET MODIFICATIONS AND CUSTOMIZATION 55
5.3.2 SHIFT IN CONSUMER PREFERENCE TOWARD ECO-FRIENDLY PAINTS AND COATINGS 55
5.4 CHALLENGE 56
5.4.1 VARIOUS ENVIRONMENTAL CONCERNS AND TOXICITY REGARDING THE USE OF COATINGS 56
6 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, BY RESIN TYPE 58
6.1 OVERVIEW 59
6.2 ACRYLIC 60
6.3 POLYURETHANE 61
6.4 EPOXY 61
6.5 POLYESTER 61
6.6 ALKYD 61
6.7 VINYL 62
6.8 OTHERS 62
7 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, BY PRODUCT TYPE 63
7.1 OVERVIEW 64
7.2 BASECOATS 65
7.3 PRIMER & FILLER 65
7.4 CLEARCOATS 65
7.5 ACTIVATOR/HARDENERS 66
7.6 OTHERS 66
8 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, BY COMPONENT TYPE 67
8.1 OVERVIEW 68
8.2 TWO COMPONENT (2K) 69
8.3 ONE COMPONENT (1K) 69
9 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, BY FORMULATION 70
9.1 OVERVIEW 71
9.2 SOLVENT BORNE COATINGS 72
9.3 WATER BORNE COATINGS 72
9.4 UV CURED 72
9.5 HIGH SOLID COATINGS 73
9.6 OTHERS 73
10 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, BY VEHICLE AGE 74
10.1 OVERVIEW 75
10.2 5-10 YEARS 76
10.3 LESS THAN 5 YEARS 76
10.4 MORE THAN 10 YEARS 77
11 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, BY APPLICATION 78
11.1 OVERVIEW 79
11.2 PASSENGER CARS 80
11.2.1 COMPACT 80
11.2.2 MID-SIZE 80
11.2.3 LUXURY 81
11.3 INDUSTRIAL VEHICLES 81
11.4 COMMERCIAL VEHICLES 81
11.4.1 HEAVY COMMERCIAL VEHICLE 81
11.4.2 LIGHT COMMERCIAL VEHICLE 82
11.5 TWO-WHEELERS 82
12 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, BY COUNTRY 83
12.1 CHINA 88
12.2 INDIA 91
12.3 JAPAN 94
12.4 SOUTH KOREA 97
12.5 AUSTRALIA & NEW ZEALAND 100
12.6 SINGAPORE 103
12.7 INDONESIA 106
12.8 PHILIPPINES 109
12.9 THAILAND 112
12.10 MALAYSIA 115
12.11 REST OF ASIA-PACIFIC 118
13 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, COMPANY LANDSCAPE 119
13.1 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 119
13.1.1 EXPANSIONS 120
13.1.2 NEW PRODUCT DEVELOPMENTS 120
13.1.3 PARTNERSHIPS 121
14 ASIA-PACIFIC AUTOMOTIVE REFINISH COATINGS MARKET, COUNTRY LANDSCAPE 122
14.1 COMPANY SHARE ANALYSIS: CHINA 122
14.2 COMPANY SHARE ANALYSIS: INDIA 123
14.3 COMPANY SHARE ANALYSIS: JAPAN 124
14.4 COMPANY SHARE ANALYSIS: SOUTH KOREA 125
14.5 COMPANY SHARE ANALYSIS: AUSTRALIA AND NEW ZEALAND 126
14.6 COMPANY SHARE ANALYSIS: SINGAPORE 127
14.7 COMPANY SHARE ANALYSIS: INDONESIA 128
14.8 COMPANY SHARE ANALYSIS: PHILIPPINES 129
14.9 COMPANY SHARE ANALYSIS: THAILAND 130
14.10 COMPANY SHARE ANALYSIS: MALAYSIA 131
15 SWOT ANALYSIS 132
16 COMPANY PROFILES 133
16.1 PPG INDUSTRIES, INC 133
16.1.1 COMPANY SNAPSHOT 133
16.1.2 REVENUE ANALYSIS 133
16.1.3 PRODUCT PORTFOLIO 134
16.1.4 RECENT DEVELOPMENTS 134
16.2 AKZO NOBEL N.V. 135
16.2.1 COMPANY SNAPSHOT 135
16.2.2 REVENUE ANALYSIS 135
16.2.3 PRODUCT PORTFOLIO 136
16.2.4 RECENT DEVELOPMENTS 138
16.3 BASF SE 139
16.3.1 COMPANY SNAPSHOT 139
16.3.2 REVENUE ANALYSIS 139
16.3.3 PRODUCT PORTFOLIO 140
16.3.4 RECENT DEVELOPMENTS 143
16.4 THE LUBRIZOL CORPORATION (A SUBSIDIARY OF BERKSHIRE HATHAWAY) 144
16.4.1 COMPANY SNAPSHOT 144
16.4.2 REVENUE ANALYSIS 144
16.4.3 PRODUCT PORTFOLIO 145
16.4.4 RECENT DEVELOPMENTS 148
16.5 NIPSEA GROUP 149
16.5.1 COMPANY SNAPSHOT 149
16.5.2 REVENUE ANALYSIS 150
16.5.3 PRODUCT PORTFOLIO 150
16.5.4 RECENT DEVELOPMENTS 151
16.6 3M 152
16.6.1 COMPANY SNAPSHOT 152
16.6.2 REVENUE ANALYSIS 152
16.6.3 PRODUCT PORTFOLIO 153
16.6.4 RECENT DEVELOPMENT 154
16.7 AXALTA COATING SYSTEMS, LLC 155
16.7.1 COMPANY SNAPSHOT 155
16.7.2 REVENUE ANALYSIS 155
16.7.3 PRODUCT PORTFOLIO 156
16.7.4 RECENT DEVELOPMENTS 157
16.8 BERGER PAINTS INDIA LIMITED 158
16.8.1 COMPANY SNAPSHOT 158
16.8.2 REVENUE ANALYSIS 158
16.8.3 PRODUCT PORTFOLIO 159
16.8.4 RECENT DEVELOPMENT 159
16.9 GUANGZHOU ZHENROUMEI CHEMICAL COATING LIMITED 160
16.9.1 COMPANY SNAPSHOT 160
16.9.2 PRODUCT PORTFOLIO 160
16.9.3 RECENT DEVELOPMENT 161
16.10 KANSAI PAINT CO., LTD. 162
16.10.1 COMPANY SNAPSHOT 162
16.10.2 REVENUE ANALYSIS 163
16.10.3 PRODUCT PORTFOLIO 164
16.10.4 RECENT DEVELOPMENT 164
16.11 KCC CORPORATION 165
16.11.1 COMPANY SNAPSHOT 165
16.11.2 REVENUE ANALYSIS 165
16.11.3 PRODUCT PORTFOLIO 166
16.11.4 RECENT DEVELOPMENT 166
16.12 NOORO PAINT & COATINGS CO., LTD. 167
16.12.1 COMPANY SNAPSHOT 167
16.12.2 REVENUE ANALYSIS 168
16.12.3 PRODUCT PORTFOLIO 168
16.12.4 RECENT DEVELOPMENT 169
16.13 RPM INTERNATIONAL INC. 170
16.13.1 COMPANY SNAPSHOT 170
16.13.2 REVENUE ANALYSIS 170
16.13.3 PRODUCT PORTFOLIO 171
16.13.4 RECENT DEVELOPMENT 171
16.14 SHERWIN-WILLIAMS COMPANY 172
16.14.1 COMPANY SNAPSHOT 172
16.14.2 REVENUE ANALYSIS 172
16.14.3 PRODUCT PORTFOLIO 173
16.14.4 RECENT DEVELOPMENT 174
17 QUESTIONNAIRE 175
18 RELATED REPORTS 179