As the automotive industry experiencing a substantial growth in recent years, automotive paint industry is also has undergone stagnant growth over the years. Automotive paint industry is segmented on the basis of coat types, which included basecoat, clear coat, primer coat and electro coat. Clear coat is one of the significant type in the automotive paint market. Automotive clear coat paint is prominently uses for cars, automotive clear coat paint is imperatively a paint with no pigment in it so it appears as transparent. Automotive clear coat paint is applied over the top of color coat and most of the modern cars or luxury cars have them.
Automotive clear coat paint enhances the appearance of the vehicle and provides protection for the precious paintwork. It also helps to repair the minor imperfections of the vehicle and retain its value, owing to this significant applications the demand of automotive clear coat paint is growing rapidly.
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Automotive Clear Coat Paint: Dynamics
Growing number of modern vehicles and increasing demand of modern technology in both original equipment manufacturers and customers driving the global automotive clear coat paint market. The adoption of new technology in the automotive segment is increasing day by day across all the regions which is a positive factor in the growth of automotive clear coat paint market. Automotive clear coat paint restrains the value of vehicle which is a significant application that drives the global clear coat market.
However, rising raw material values and increasing transportation costs hampering the growth of automotive clear coat paint market in a large extent, which is a matter of concern.
The prominent manufacturers are focusing on development of waterborne UV-A curable clear coat, which uses for car refinish purpose, this clear coat formulation are specifically based on maleimide functional poly urethane or developed acryloyl dispersions, these formulation is necessary for obtaining optimal film generation which result in other film properties and good appearance.
Automotive Clear Coat Paint: Regional Overview
Considering regions, Asia Pacific is anticipated to witness the robust growth in Automotive clear coat paint market, owing to growing production of automotive vehicles in the emerging economies, specifically in India and China, also the demand of modern vehicles is increasing in this region which driving the growth of Automotive clear coat paint market. North America is estimated a substantial growth in the automotive clear coat paint market, as the automotive industry is developing in this region and also the people becoming more advance and adopting new technologies which is a significant factor in the growth of this market. Europe is anticipated to witness a significant amount of growth in Automotive clear coat paint market, as the demand of clear coated vehicles is increasing in this region which accelerating the Automotive clear coat paint market in this region.
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Automotive Clear Coat Paint: Market Participants
Some of the significant key players involved in the Automotive clear coat paint market included BASF SE, PPG Industries, Axalta Coating, The Sherwin-Williams Company, Valspar Corporation, AkzoNobel NV, KCC Corporation, Nippon Paint Holdings, Jotun A/S, Kansai Paint Co., Ltd., The Eastwood Company, Performance Paints Ltd, Nordson Corporation, Mile High Powder Coating, Inc. and others.
Automotive Clear Coat paint: Segmentation
Based on the product type, the automotive clear coat paint market can be segmented into,
- Urethane
- Polyurethane
- Acrylic
- Others
Based on the application, the automotive clear coat paint market can be segmented into,
- Basic clear coat
- Advanced clear coat
Based on the vehicle type, the automotive clear coat paint market can be segmented into,
- Passenger cars
- Commercial vehicles