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Automotive Paints Market By Coat Type (Electrocoat, Primer, Basecoat & Clearcoat), By Technology (Solvent-Borne, Waterborne & Powder Coating), Texture Type (Metallic & Solid), Vehicle Type & Geography - Global Trends & Forecast To 2018
Automotive Paints Market by Coat Type (Electrocoat, Primer, Basecoat & Clearcoat), by Technology (Solvent-Borne, Waterborne & Powder Coating), Texture Type (Metallic & Solid), Vehicle Type & Geography - Global Trends & Forecast to 2018
The automotive paints industry has not only adopted the advancements in the automotive industry but it is also growing in line with the automobile demand. The growth of the automotive paints technology can be defined as multifaceted as it has grown in terms of its products, and color options offered to the customers and durability. The industry started with simple natural pigments, and varnishes applied on wooden parts of the vehicles. However, in order to offer better designs, safety, and occupancy, the automotive manufacturers replaced the wooden parts with lightweight materials such as steel, aluminum, plastic/fiber, etc., and, hence the coatings were changed as well. The present day automobiles are coated with high tech polymer based coatings. The conventional coating application methods such as air dry varnish were popular in the past; however, new cost-effective technologies (namely, air gun, HVLP guns, etc.) have successfully replaced them. At present, the industry players are focusing on the spray technologies with minimal wastage, environment friendly coatings (such as low Volatile Organic Compounds (VOC) waterborne paints, zero VOC powder coating, or futuristic UV coating), and reduction in the coating layers with its thickness.
The demand for vehicles has been increasing at a promising rate, specifically for passenger cars and light commercial vehicles. According to the OICA (Organization Internationale des Contructeurs d' Automobiles), the global vehicle production in 2012 reached to 84.1 million units, of which 63.0 million units were passenger cars, light commercial vehicles accounted for 16.9 million, and heavy commercial vehicle production was 4.1 million units. Due to the increase in the vehicle production, automotive paints consumption also increased in 2012 and it is anticipated that the market for automotive paints would be growing at a promising rate. This increase in the demand of automotive paints gives rise to concerns over the hazard caused by the VOCs present in the coatings. To withstand the existing and upcoming environmental regulations, automotive manufacturers from the European and North American countries have shifted to low VOC products such as waterborne or powder coatings. The changes in the environmental norms would also be applied in other regions as well, and the pace of the shift from solvent-borne to waterborne would also increase in the Asia-Oceania region and other countries of
South America &
In addition to these, improved lifestyle, changing buyer's preferences, and economic growth, with increasing vehicle fleet has increased the need for advanced automotive paints technology and more color options for the customers. Along with aforesaid reasons and changing governmental environment regulations, advanced coating solutions are developed and provided by the automotive paints companies to the vehicle manufacturers.