Asia-Pacific Automotive Paints Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Looking to buy the report?

The Asia-Pacific automotive paints market is expected to register revenue worth USD 11.04 billion by the end of 2022, at a CAGR of 6.52% during the forecast period. The market is driven by the paint manufacturers striving to offer cost-efficient solutions without compromising on the quality of the paints. Suppliers are emphasizing on developing products that comply with the regulatory norms, and cater to the changing preferences and needs of the consumers to remain competitive in the market. The growth of the market is also further characterized by increasing vehicle production and growing demand for carbon footprint technologies in the automotive paints market.

Nippon Paint, one of the leaders in the automotive paints market, has developed a polarized paint, Maziora that changes color depending on the angle from which it is viewed, or from where the light hits it. The paint is suitably used to re-paint automobiles; it is also used as a high-design paint for designer racing cars. Asia-Pacific is expected to be the largest market for automotive coatings by 2022, even in the context of the global automotive paints market, owing to the large base of automotive industries in this region. Increasing technological advancements is the major driver in the market. The region also recorded the maximum number of vehicles produced owing to its demand-driven dynamics.

Cathodic Electro Deposition (CED) paint is one of the latest developments providing the vehicle utmost protection against diverse climatic conditions. This electrodeposition system acts as an anti-rust primer and works effectively as an anti-corrosion agent. The Asia-Pacific market is expected to remain competitive in the presence of many regional and international players.

Market Dynamics- Automotive Paints Market

The automotive industry is expected to become an excellent opportunity and growth area for thermal spray, especially in the powder coating technology. There is increased emphasis on the reduction of harmful gases, such as carbon dioxide, particulate matter, and nitrogen oxide emissions, along with the growing focus on enhancing fuel economy as per the Corporate Average Fuel Economy standards, especially among countries, such as China, South Korea, and India. As a result, there is consistent pressure on engine and automobile manufacturers to develop and utilize technologies that aid in reducing emissions and improving the fuel economy of vehicles.

Engine manufacturers are looking at thermal spray protective surface coatings for cylinders. Also, powder coatings are a non-toxic, dry-finishing process used primarily in metals and aluminum products in automobile and motorcycle parts. The process creates a hard finish tougher than that of conventional paints. The powder coating process is harmless. It is used for protection from rust and provides a great amount of chemical resistance. Powder coatings are an increasingly popular finish for many automotive components, as it is solvent-free. The automotive industry coats wheels, springs, bumpers, springs louvers and frames, and some manufacturers are increasingly using powder coatings for primer and final body finish.

Among the market segments segmented by technology type, the waterborne and powder coatings segments are expected to show the maximum growth rate in the region, with water-borne solvents comprehensively leading the market by 2022. This is because solvent-based coatings are banned in most countries since they have proven to be ecologically harmful.

The market is segmented on the basis of vehicle type (passenger, commercial, 2-wheelers), coat type (electro coat, primer, clear coat, base coat and others), technology type (solvent-borne, water-borne, UV curing, powder coatings and others), and countries (India, China, Japan, South Korea, Australia, and Others).

Some of the key players in the Asia-Pacific Automotive Paints market are:

  • Nippon Paint Co. Ltd.
  • 3M Company
  • Axalta
  • Kansai Nerolac

Looking to buy the report?

Need a report that reflects how COVID-19 has impacted this market and its growth?

Our clients include:


Looking to Customize Report?

Please Enter Email ID

Please Enter Message