Automotive Refinish Coatings Market in APAC 2015-2019

  • Published: Jul 2015
  • Pages: 82
  • SKU: IRTNTR6692
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Key growth driver for the automotive refinish market

The production of automobiles in the APAC region surpassed 45 million units in 2014 while the global market witnessed a growth rate of over 6% early that year. It is positively impacting the demand for automotive refinish coatings and helping the market to grow at a CAGR of over 6% until 2019. The factors that influence the market are the growing number of vehicles in operation, growing number of vehicles under repair, accident rates, the age of vehicles, and the number of miles driven.

The increase in demand is fuelled by a relatively higher number of vehicles in India and China. Key technological advances and the growing prevalence of water-based coatings are expected to drive the market further in the next four years.

Segmentation of the automotive refinish coatings market by technology

  • Solvent-based
  • Water-based
  • Powder

The automotive solvent based refinish coatings dominated the market in 2014 and the trend is expected to continue with the segment crossing $2.5 billion in revenues until 2019. However, the growth of this segment is likely to be slowest among due to the growing popularity of other technologies.

As regulations are expected to grow more stringent in economies such as China and Japan, the growing awareness about the benefits of waterborne coatings is expected to drive its demand during the forecast period.

Segmentation of the automotive refinish coatings market by resin

  • Polyurethanes
  • Acrylics
  • Others

In terms of volume, the polyurethane automotive coating market stood at close to 45% of the market. Its demand is expected to increase at a rapid rate during the forecast period due to its excellent durability, resistance to corrosion and abrasions. The demand for acrylics will also gain traction on account of the increased adoption of waterborne acrylics for automotive basecoats. The rise in the number of OEMs using waterborne acrylics for their product lines is likely to boost this segment in the future.

Market shares of the leading countries in the APAC region

  • China
  • India
  • South Korea
  • Japan

China’s refinish market is expected to exhibit incessant growth in the years to come. It is especially driven by the demand emerging from the high-end cars segment. The Chinese market is also inclined towards a greater adoption of green technology to address concerns regarding air pollution.

The India market has witnessed higher revenues from the OEM coatings market in terms of volume. The sales volumes demonstrated the growth potential of the segment in 2014, and it will continue to expand during the forecast period.

Key leading vendors of the automotive refinish coatings market

  • Akzo Nobel
  • Axalta
  • BASF
  • Kansai
  • Nippon Paint
  • PPG

The other leading vendors of the market include Berger Paints, Color Communication, Jotun, KCC, Sherwin-Williams, Valspar, and NOROO.

The automotive refinish market is largely consolidated with the top six vendors accounting for close to 85% of the market. A considerable number of regional vendors also exist in the market. These regional companies are expected to invest in product innovation to expand their market shares while competing with the leading vendors on price and performance. 

Other sections of the report include an analysis of the following

  • Market shares of the leading vendors of the automotive refinish coatings market
  • Segmentation of the automotive refinish coatings market by vehicles age
  • Key drivers, challenges, and trends and their impact on the automotive refinish coatings market
  • Five forces analysis of the automotive refinish coatings market
  • SWOT analysis of the leading companies in the automotive refinish coatings market

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01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
03.1 Market Overview
04. Market Research Methodology
04.1 Market Research Process
04.2 Research Methodology
05. Introduction
06. Macroeconomic Outlook
06.1 Overview
06.2 Global Automobile Production
06.3 Global GDP Growth
07. Market Landscape
07.1 Market Size and Forecast
07.2 Five Forces Analysis
08. Market Segmentation by Vehicle Age
08.1 APAC Automotive Refinish Coatings Market Segmentation by Vehicle Age 2014
09. Market Segmentation by Technology
09.1 Segmentation of Automotive Refinish Coatings Market in APAC by Technology 2014
09.2 Automotive Solvent-based Refinish Coatings Market in APAC
09.2.1 Market Size and Forecast
09.3 Global Automotive Water-based Refinish Coatings Market
09.3.1 Market Size and Forecast
09.4 Global Automotive Refinish Powder Coatings Market
09.4.1 Market Size and Forecast
10. Market Segmentation by Resin
10.1 Automotive Refinish Coatings Market in APAC by Resin 2014
10.2 Polyurethane Automotive Refinish Coatings Market in APAC
10.2.1 Market Size and Forecast
10.3 Acrylics Automotive Refinish Coatings Market in APAC
10.3.1 Market Size and Forecast
10.4 Other Automotive Refinish Coatings Market in APAC
10.4.1 Market Size and Forecast
11. Key Leading Markets
11.1 China
11.2 India
11.3 Japan
12. Buying Criteria
13. Market Growth Drivers
14. Drivers and their Impact
15. Market Challenges
16. Impact of Drivers and Challenges
17. Market Trends
18. Trends and their Impact
19. Vendor Landscape
19.1 Market Share Analysis 2014
19.2 Other Prominent Vendors
19.2.1 Product Portfolio Matrix (Optional)
20. Key Vendor Analysis
20.1 AkzoNobel
20.1.1 Key Facts
20.1.2 Business Overview
20.1.3 AkzoNobel: Business Segmentation by Revenue 2013
20.1.4 Business Segmentation by Revenue 2012 and 2013
20.1.5 Geographical Segmentation by Revenue 2013
20.1.6 Business Strategy
20.1.7 Recent Developments
20.1.8 SWOT Analysis
20.2 Axalta Coating Systems
20.2.1 Key Facts
20.2.2 Business Overview
20.2.3 Business Segmentation by Revenue 2013
20.2.4 Geographical Segmentation by Revenue 2013
20.2.5 Business Strategy
20.2.6 Recent Developments
20.2.7 SWOT Analysis
20.3 BASF
20.3.1 Key Facts
20.3.2 Business Overview
20.3.3 Business Segmentation by Revenue 2013
20.3.4 Business Segmentation by Revenue 2012 and 2013
20.3.5 Geographical Segmentation by Revenue 2013
20.3.6 Business Strategy
20.3.7 Recent Developments
20.3.8 SWOT Analysis
20.4 Kansai Paint
20.4.1 Key Facts
20.4.2 Business Overview
20.4.3 Business Segmentation by Revenue 2014
20.4.4 Business Segmentation by Revenue 2013 and 2014
20.4.5 Geographical Segmentation by Revenue 2014
20.4.6 Business Strategy
20.4.7 Recent Developments
20.4.8 SWOT Analysis
20.5 Nippon Paint Holdings
20.5.1 Key Facts
20.5.2 Business Overview
20.5.3 Business Segmentation
20.5.4 Geographical Segmentation by Revenue 2014
20.5.5 Recent Developments
20.5.6 SWOT Analysis
20.6 PPG Industries
20.6.1 Key Facts
20.6.2 Business Overview
20.6.3 Business Segmentation
20.6.4 Business Segmentation by Revenue 2013
20.6.5 Geographical Segmentation by Revenue 2013
20.6.6 Recent Developments
20.6.7 SWOT Analysis
21. Other Reports in this Series

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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