ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028

Chemicals & Materials | Paints

ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028

Market by Product Type, Coat Type, Vehicle Type, End-users, and Country | Forecast 2022-2028

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Based on Triton’s research report, the automotive paints and coatings market in Asia-Pacific is expected to increase at a CAGR of 4.20% during the forecasting years 2022-2028.


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The countries assessed in the studied region include:

•         China

•         Japan

•         India

•         South Korea

•         ASEAN Countries

•         Australia & New Zealand

•         Rest of Asia-Pacific

China secures the highest share in the automotive paints and coatings market. Several countries in the region have emerged as top automotive manufacturing nations, including China, Japan, and South Korea. This has encouraged global automotive companies such as Fiat Chrysler and Hyundai to invest heavily in the region. Further, the growing demand and production of passenger and commercial vehicles have enhanced the need for automotive paints. Besides, the government support of EV vehicles has also increased paints and coatings demand, driving the studied market on a progressive path.

Over the years, China’s car manufacturing segment has been expanding exponentially to meet the demand. This has led the country to emerge as the largest automotive manufacturer, with over 21 million passenger vehicles produced in 2021. As per estimates, China produces one out of every four-passenger cars manufactured globally. Therefore, the growing production of automobiles ultimately widens the scope of the automotive paints and coatings market within China.

On the other hand, the automotive sector contributes heavily to Japan’s economy. Toyota, Honda, and Nissan are major players operating in the country, bringing significant suppliers. The country produces a high number of vehicles each year. Therefore, the growing automotive industry creates new opportunities for the automotive paints and coatings market.

Solvent-borne paints evaporate when exposed to oxygen, speeding up the drying process. These countries are less sensitive to outward factors, including temperature and humidity. HMG Paints is a major company offering solvent-borne coatings to automobile companies. The studied market’s growth is assessed based on product type, coat type, end-users, and vehicle type. The product type section is branched into solvent-borne, waterborne, and other coatings.

The key companies profiled in the market comprise Kansai Paint Co Ltd, PPG Industries Inc, Sherwin Williams, Valspar Corporation, KCC Corporation, and National Paints Factories Co Ltd.

Kansai Paint Co Ltd is a manufacturer and distributor of paints and coatings equipment. The company is engaged in providing decorative, protective, auto refinish, automotive, and industrial coatings. Its product line includes ESCO, an anti-corrosive primer. Additionally, it offers touch-up paints, heat-resistant paints, and PVC sealants to the automotive industry. Kansai Paint operations across various regions, with headquarters in Osaka, Japan.

Kansai Paint had announced the launch of a wave absorber to prevent autonomous driving malfunction. The product was developed with the cooperation of Wave X. The new product features thinness, lightness, and versatility to solve issues caused by the reflection of waves.

 

Key deliverables of the report:

      Market CAGR during the forecasting years 2022-2028

      Detailed data highlighting key insights, industry components, and market strategies

    Comprehensive information and estimation of the automotive paints and coatings market revenue growth in the Asia-Pacific and its influence on the parent market

      In-depth study of forthcoming trends in consumer behavioral patterns

      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces

    A wide-ranging study of factors that will challenge the APAC automotive paints and coatings market’s growth during the upcoming years

Want to get specific insights? Our team of analysts can customize this report based on your preferences. Connect with us here

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Table of Content

1. ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON AUTOMOTIVE PAINTS AND COATINGS MARKET

2.2. KEY INSIGHTS

2.2.1. INTRODUCTION OF NEW COLORS FOR CAR EXTERIORS

2.2.2. NEW RESIN AND ADDITIVE TECHNOLOGIES DEVELOPMENT METHODS

2.2.3. SHIFTING PREFERENCES IN CAR COLORS

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. KEY MARKET STRATEGIES

2.6.1. MERGERS & ACQUISITIONS

2.6.2. CONTRACTS & AGREEMENTS

2.6.3. EXPANSIONS

2.7. MARKET DRIVERS

2.7.1. TECHNOLOGICAL INNOVATIONS IN METALLIC PIGMENTS

2.7.2. GROWING DEMAND FOR SANITARY CAR INTERIORS

2.7.3. STRONG GOVERNMENT ASSISTANCE

2.7.4. INCREASED DEMAND FOR PASSENGER VEHICLES

2.8. MARKET CHALLENGES

2.8.1. ELEVATED COATINGS COSTS AND RAW MATERIAL SHORTFALLS

2.8.2. REGULATIONS AND FORMULATOR REGISTRATION REQUIREMENTS

2.9. MARKET OPPORTUNITIES

2.9.1. NEW DEVELOPMENTS IN COATINGS

2.9.2. SPECIALLY DESIGNED COATINGS FOR ELECTRIC VEHICLES

3. ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY PRODUCT TYPE

3.1. SOLVENT-BORNE

3.2. WATERBORNE

3.3. OTHER COATINGS (POWDER COATINGS, ETC)

4. ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY COAT TYPE

4.1. BASE COAT

4.2. ELECTRO COAT

4.3. CLEAR COAT

4.4. PRIMER

5. ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY VEHICLE TYPE

5.1. PASSENGER VEHICLES

5.2. LIGHT COMMERCIAL VEHICLES

5.3. HEAVY COMMERCIAL VEHICLES

6. ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET OUTLOOK - BY END-USERS

6.1. ORIGINAL EQUIPMENT MANUFACTURERS (OEM)

6.2. AUTOMOTIVE REFINISH

7. ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET – REGIONAL OUTLOOK

7.1. CHINA

7.2. JAPAN

7.3. INDIA

7.4. SOUTH KOREA

7.5. ASEAN COUNTRIES

7.6. REST OF ASIA-PACIFIC

8. COMPETITIVE LANDSCAPE

8.1. AKZO NOBEL NV

8.2. AXALTA COATING SYSTEMS

8.3. BASF SE

8.4. BERGER PAINTS LTD

8.5. CONCEPT PAINTS

8.6. HMG PAINTS LTD

8.7. KANSAI PAINT CO LTD

8.8. KAPCI COATINGS

8.9. KCC CORPORATION

8.10. NATIONAL PAINTS FACTORIES CO LTD

8.11. PPG INDUSTRIES INC

8.12. RED SPOT PAINT

8.13. RPM INTERNATIONAL INC

8.14. SHERWIN WILLIAMS

8.15. VALSPAR CORPORATION

9. RESEARCH METHODOLOGY & SCOPE

9.1. RESEARCH SCOPE & DELIVERABLES

9.2. SOURCES OF DATA

9.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: NEW PASSENGER CAR REGISTRATIONS IN TOP COUNTRIES IN 2020

TABLE 4: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COAT TYPE, 2022-2028 (IN $ MILLION)

TABLE 6: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY VEHICLE TYPE, 2022-2028 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY END-USERS, 2022-2028 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 9: PRODUCTION AND SALES OF AUTOMOBILES IN CHINA (2016-2020)

TABLE 10: PRODUCTION AND SALES OF AUTOMOBILES IN JAPAN (2016-2020)

TABLE 11: PRODUCTION AND SALES OF AUTOMOBILES IN INDIA (2016-2020)

TABLE 12: PRODUCTION AND SALES OF AUTOMOBILES IN SOUTH KOREA (2016-2020)

TABLE 13: PRODUCTION AND SALES OF AUTOMOBILES IN MALAYSIA (2016-2020)

TABLE 14: PRODUCTION AND SALES OF AUTOMOBILES IN THE PHILIPPINES (2016-2020)

TABLE 15: PRODUCTION AND SALES OF AUTOMOBILES IN SINGAPORE (2016-2020)

TABLE 16: PRODUCTION AND SALES OF AUTOMOBILES IN THAILAND (2016-2020)

TABLE 17: PRODUCTION AND SALES OF AUTOMOBILES IN TAIWAN (2016-2020)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PRODUCT TYPE, 2021 & 2028 (IN %)

FIGURE 3: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY SOLVENT-BORNE, 2022-2028 (IN $ MILLION)

FIGURE 4: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY WATERBORNE, 2022-2028 (IN $ MILLION)

FIGURE 5: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY OTHER COATINGS (POWDER COATINGS, ETC), 2022-2028 (IN $ MILLION)

FIGURE 6: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY COAT TYPE, 2021 & 2028 (IN %)

FIGURE 7: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY BASE COAT, 2022-2028 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY ELECTRO COAT, 2022-2028 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY CLEAR COAT, 2022-2028 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PRIMER, 2022-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY VEHICLE TYPE, 2021 & 2028 (IN %)

FIGURE 12: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY PASSENGER VEHICLES, 2022-2028 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY LIGHT COMMERCIAL VEHICLES, 2022-2028 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY HEAVY COMMERCIAL VEHICLES, 2022-2028 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY END-USERS, 2021 & 2028 (IN %)

FIGURE 16: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY ORIGINAL EQUIPMENT MANUFACTURERS (OEM), 2022-2028 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, BY AUTOMOTIVE REFINISH, 2022-2028 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)

FIGURE 19: CHINA AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

FIGURE 20: JAPAN AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

FIGURE 21: INDIA AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

FIGURE 22: SOUTH KOREA AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

FIGURE 23: ASEAN COUNTRIES AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

FIGURE 24: REST OF ASIA-PACIFIC AUTOMOTIVE PAINTS AND COATINGS MARKET 2022-2028 (IN $ MILLION)

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