Automotive OEM Coatings Market in APAC 2015-2019
About Automotive OEM Coatings
Automotive coatings are products used to enhance the exterior appearance and durability of a vehicle by protecting it from harsh external factors such as UV radiation, extreme temperatures, and grit from the road. Automotive manufacturers are the major end-users of automotive OEM coatings; they use the coatings during the production of new passenger cars, light commercial vehicles, and heavy commercial vehicles. Vendors in the market offer products for four different functional layers: e-coat, primer, basecoat, and clearcoat. These products can be broadly categorized into five major types based on technology: water-borne coatings, high-solid solvent-borne coatings, conventional solvent-borne coatings, powder coatings, and UV-cure coatings.
Technavio's analysts forecast the automotive OEM coatings market in APAC to grow at a CAGR of 5.52% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the automotive OEM coatings market in APAC for the period 2015-2019. To arrive at the share of the leading vendors in the market and to calculate the market size, the report considers revenue generated through the sales of automotive OEM coatings. It also presents the vendor landscape and a corresponding detailed analysis of the top six vendors in the automotive OEM coatings market in APAC.
The report includes data on the different segments of the market based on the following criteria: technology, functional layer, and type of vehicle. The report covers only coatings used for automotive OEM applications and does not include products for automotive refinish or aftermarket applications.
Technavio's report, Automotive OEM Coatings Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts.
Technavio Announces the Publication of its Research Report – Automotive OEM Coatings Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the Automotive OEM Coatings Market in APAC: Axalta, BASF, Kansai, Nippon, PPG and Shinto
Other Prominent Vendors in the market are: Berger Paints, Color Communications, Jotun, KCC, Sherwin-Williams and Valspar
Commenting on the report, an analyst from Technavio’s team said: “Integrated coating processes involve reduction in number of coating layers. Vendors are increasingly working toward eliminating the primer layer by introducing integrated coating solutions. BASF is at the forefront of this trend, with the introduction of an innovative basecoat that eliminates need for a primer. This integrated process is expected to offer great customer value through reductions in capital investments and savings in energy and material costs. Through this integrated process, the company expects to enhance its market share during the forecast period. In China, PPG offers the B1:B2 premium compact process, which is a water-borne coatings technology that enables end-users to eliminate the primer layer. This results in cost savings for customers and reduction in vehicular weight that contributes to better fuel efficiency.”
According to the report, automotive OEMs are increasingly focusing on cost-reduction strategies, which include procurement of products at low costs and enhancing manufacturing efficiency. Market vendors coordinate closely with automakers to develop customized solutions that differentiate their products. Automotive OEMs are looking toward procurement of coatings that reduce downtime by curing in a shorter span of time. Moreover, the manufacturing process employed at paint shops consumes much energy and capital. Hence, vendors are focusing on cost-reduction solutions that could provide automotive OEMs a cost and competitive advantage in the market.
Further, the report states that new coating process technologies limiting the consumption volume of coatings.
Axalta, BASF, Kansai, Nippon, PPG, Shinto, Berger Paints, Color Communications, Jotun, KCC, Sherwin-Williams, Valspar
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