May 14, 2020 12:20 PM ET
iCrowd Newswire – May 14, 2020
The Global Automotive Paint Additives Market is estimated to grow at a CAGR of 7% during the forecast period 2019-2026. As per the detailed market study conducted by Report Ocean, the global market recorded the value of $3.29 billion in the year 2018 and is estimated to reach $5.63 billion by the end of the year 2026.
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The Global Automotive Paint Additives Market growth is majorly driven by growth in production of automobiles at rapid pace worldwide and increase in demand for innovative and eco-friendly paints. Moreover, paint additives improve the UV protection, reduce chipping and foaming of the coatings, aid in anti-catering of the coatings and enhance the solids dispersions. Additionally, restrictions on water-based paints that emit volatile organic chemicals (VOC) is also boosting the growth in demand of automotive paint additives. However, increase in prices of raw materials used in manufacturing of automotive paint additives is hampering the market growth over the forecast period.
Segmentation Overview of the Global Automotive Paint Additives Market
The Global Automotive Paint Additives Market is segmented on the basis of various market segments such as Type Segment, Application Segment and Vehicle Type Segment. These major market segments are further categorized into various sub-segments to study and analyse the overall market.
The Type Segment of the Global Automotive Paint Additives Market is Sub-Segmented into:
- Flow Enhancers
- Fisheye Eliminator
- Blending Solvents
The Application Segment of the Global Automotive Paint Additives Market is Sub-Segmented into:
- Automotive Antirust Paint
- Automotive Decorative Paint
- Automotive Fire-retardant Paint
The Vehicle Type Segment of the Global Automotive Paint Additives Market is Sub-Segmented into:
- Passenger Cars
- Commercial Vehicles
Geographical Overview of the Global Automotive Paint Additives Market
The global automotive paint additives market is evaluated on the basis of regional penetration. The geographical segmentation explains the market performance of each regional market covering North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia) and Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). As per the analysis, the North America automotive paint additives market is analysed to dominate the global marketplace during the forecast period 2019-2026. Whereas, the APAC region is estimated to grow at highest CAGR, owing to major participation from countries such as India, Japan, South Korea and China. The automobile industry along with rapid growth of industrialization in developing regions support the growth of the APAC automotive paint additives market.
Key Players Insights
Solvay, Clariant, DuPont, Nippon Paint Holdings Co., Ltd., Kansai Paint Co., Ltd., The Sherwin-Williams, Eastman Chemical Company, LLC, Akzo Nobel N.V, PPG and BASF SE among others are some major players included in the research study of the Global Automotive Paint Additives Market. The company profile chapter of the research study include various sections such as company overview, financial analysis, operations, SWOT analysis and automotive paint additives products and services. The market players are adopting various competitive strategies with major focus on product innovation through intensive research and development activities.
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Keywords: Automotive Paint Additives Market, Automotive Paint Additives Market Size