#Waterborne Coatings Market Size

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Waterborne Coatings Market Overview

The Waterborne Coatings Market size is projected to reach US$112.8 billion by 2027, after growing at a CAGR of 5.9% during the forecast period 2022-2027. Waterborne Coatings are generally preferred over other conventional ones since these contain close to 80% water content, which makes them environmentally friendly. Waterborne coatings are often employed in the building & construction and automotive industry, which is supporting the Waterborne Coatings industry's growth. According to the International Organization of Motor Vehicle Manufacturers (OICA), global automotive production increased from 77,621,582 units in 2020 to 80,145,988 units in 2021. The rapid growth of the building & construction and automotive industry has increased the demand for environmentally friendly waterborne coatings, which fuels the market growth. Several end-use industries in the Waterborne Coatings industry suffered negative effects as a result of the novel coronavirus pandemic, which had a direct impact on the Waterborne Coatings Market size in the year 2020.

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Waterborne Coatings Market Report Coverage

The “Waterborne Coatings Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Waterborne Coatings industry.

By Resin Type: Acrylic, Epoxy, Polyester, Polyurethane, Vinyl Acetate, Alkyd, Polytetrafluoroethylene, Polyvinylidene Fluoride, Polyvinylidene Chloride and Others. By End-use Industry: Aerospace (Commercial Aircrafts, Military Aircrafts and Others), Automotive [Passenger Vehicles (PVs), Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs)], Marine (Cargo, Passenger and Others), Locomotive (Electric and Diesel), Building and Construction (Residential, Commercial, Industrial and Infrastructural), Paper & Pulp, Packaging, Wood & Furniture and Others. By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa)

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Aerospace Coating Market to Exhibit Significant Growth Owing to Increasing Aircraft Deliveries

The aerospace coating market comprises protective and decorative coating solutions that provides technical advantages like corrosion resistance, light weight, and color consistency to aircraft. Aerospace coatings protect metal surfaces from corrosion and chemicals while maintaining a smooth and consistent finish. They shield aircraft interiors from deterioration caused by ultraviolet radiation, moisture, pollutants, and other stress factors. Eco-friendly waterborne coatings are increasingly being adopted given their low volatile organic compound (VOC) emissions. Primers, topcoats and other specialty coatings such as chrome-free primers are applied to commercial, military, and general aviation aircrafts. The Global Aerospace Coating Market size is estimated to be valued at US$ 3.36 Billion in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period from 2024 to 2031.

Aerospace Coating Market Trends is increasing aircraft deliveries worldwide driven by rising passenger traffic is a key factor contributing to market growth. Aerospace coatings play a crucial role in aircraft performance and safety by protecting surfaces from corrosion, harsh weather conditions, and offering lightning strike protection. They provide attractive aesthetic appearances and enable weight reduction which improves fuel efficiency. Key Takeaways

Key players operating in the aerospace coating market are The Sherwin-Williams Company, Socomore, AkzoNobel N.V., PPG Industries, Hentzen Coatings, Inc, Axalta Coating Systems, KC Jones Plating Company, IHI Ionbond AG, BASF SE, Saint-Gobain SA, Mapaero, Bryocat, and Zircotec. The aerospace coating market is expected to grow at a significant pace owing to increasing demand for air travel around the world. Major aircraft OEMs like Airbus and Boeing have received a large number of orders over the past few years along with a strong order backlog which will drive production rates and corresponding demand for coatings. Market Trends

Aerospace Coating Market Size and Trends are increasingly being adopted to help aircraft operators reduce weight and increase payload capacity. Durable thermoplastic elastomer coatings provide an eco-friendly alternative to costly composite repairs. Market Opportunities

 Rising procurement of military aircraft and platforms globally presents opportunities for military-grade specialty aerospace coatings manufacturers. Requirements for specialty solutions with properties like chemical/biological agent resistance, stealth, multi-spectral camouflage are increasing. Demand for sustainable ‘green aerospace coatings’ addressing strict environmental mandates while delivering at par performance will continue growing. Development of 100% bio-based and environment-friendly coating systems with repairable properties offers opportunities. Get more insights on, Aerospace Coating Market

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

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Photoinitiator Market Industry Leaders Size & Share Outlook & New Revenue Pockets

Growing applications and environmental restrictions on VOCs to drive the acceptance of photoinitiators in the market

The global photoinitiators market size was USD 1.6 billion in 2021 and is expected to reach USD 2.6 billion by 2026, projecting a CAGR of 10.3% between 2021 and 2026. photoinitiators are increasingly used in the adhesive, ink, coating and other end-use industries. The increasing demand of coating industry drives the demand for photoinitiators. However, the outbreak of COVID-19 has created ripples across various application industries leading to reduced demand for photoinitiators. Due to the lockdown scenario in most of the world, the demand for photoinitiators from adhesive, coating, ink and other industries have declined sharply in 2020.

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As the world is getting ready to open up its economies and reduce restrictions from June 2021, the market will take an upward turn. The photoinitiators market is expected to witness high growth in 2021 owing to increasing applications, technological advancements, and growing demand in APAC. Photoinitiators are largely used in the coating applications by the wood, furniture, and architectural end-use industries apart from adhesive and printing ink industries. This market growth is backed by growing environmental concerns and increasingly stringent regulations.

The increasing number of restrictions on VOCs across the globe is pushing the industry to search for an alternative. Photoinitiators proved to be a safer and economical substitute. It enhances the surface finish as well as the shelf life of the product. Photoinitiators have been developed so that they are safe even for use in the dental industry. Many food safety compatible photoinitiators are also developed. All these photoinitiators are eco-friendly and have virtually no impact on human health.

UV curable resins market has developed high growth prospects in 3D printing, digital printing, packaging, barrier films, and printed circuit applications. Automotive, architecture, medical, and several other industries are using 3D printing solutions to improve their design and manufacturing strategies. The 3D printing technology is expected to advance further in printers and printing methods, materials used in 3D printing, and software for designing and printing. All this directly affects the demand of the photoinitiators market.

Photoinitiators are the key to innovation in coatings, which have influenced the major trends in the coatings industry. The coating industry is largely influenced by stringent regulations set by authorities, including the European Union (EU), for reducing the VOC content from coatings, adhesives and inks. Consequently, the demand has shifted from solvent-borne UV to environmentally friendly products, such as waterborne UV using photoinitiators.

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The demand for waterborne photoinitiators has witnessed substantial growth in the past five years owing to rapid technological developments. In addition to eliminating solvent emissions, photoinitiator-based UV curing formulations provide improved mechanical characteristics, and increased production efficiency, particularly, in the spray application. These benefits encourage end users to adopt photoinitiator-based UV technology for new applications.

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Automotive Paints Market Business Strategies, Revenue Global Technology, Application, and Growth Rate up to 2031

Automotive Paints Market Size was valued at US$ 18.61 billion in 2023 and is projected to reach US$ 26.16 billion by 2031, growing at a CAGR of 4.47% from 2024 to 2031.

Kings Research™ presents this information in its report titled, Automotive Paints Market Size, Share & Industry Analysis, By Vehicle Type (Light Commercial Vehicle, Heavy Commercial Vehicle, Passenger Vehicle), By Technology (Waterborne Coatings, Solvent Borne Coatings, Powder Coatings), By Coating (Primer Base Coat, Base Coat, Clear Coat, Electrocoat), and Regional Forecast, 2024 – 2031”

One major trend in the market is the growing emphasis on vehicle aesthetics and customization. Consumers, especially in mature markets, are seeking high-quality paints that offer both protection and visual appeal, prompting a demand for advanced paint formulations and finishes. Technological advancements in paint formulations, such as improved durability, scratch resistance, and environmental sustainability, are key drivers of this market growth. The adoption of eco-friendly coatings like waterborne and powder coatings is increasing due to their lower VOC emissions and compliance with stringent environmental regulations.

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List of Key Companies in Automotive Paints Market

3M

Axalta Coating Systems, LLC

AkzoNobel N.V.

BASF SE

Berger Paints India Limited

Henkel Corporation

Nippon Paint Holdings Co., Ltd.

PPG Industries, Inc.

RPM International Inc.

Sika AG

Regionally, the automotive paints market is diverse. North America and Europe continue to see high demand for premium coatings with advanced properties, while emerging economies in Asia Pacific and Latin America offer significant growth opportunities. Rapid industrialization, urbanization, and infrastructural developments in these regions are driving the demand for automobiles and consequently, automotive paints.

In particular, Asia-Pacific holds a significant share of the market, accounting for 35.48% in 2023. The region's dominance is attributed to its booming automotive industry, driven by countries like China, India, and Japan. Europe, the second-largest region in the market, accounted for $4.28 billion in 2023 and is expected to grow at a CAGR of 4.476%. The region's growth is supported by a mature automotive industry, technological advancements, and stringent environmental regulations promoting eco-friendly coatings.

The shift towards electric vehicles (EVs) presents additional opportunities for the automotive paints market. EV manufacturers are prioritizing lightweight materials and advanced coatings to enhance vehicle performance and range. This transition is spurring innovation in specialized coatings that offer thermal management, corrosion resistance, and aesthetic differentiation for EVs.

Leading companies in the market, such as 3M, Axalta Coating Systems, AkzoNobel, BASF SE, and PPG Industries, are employing strategic measures like acquisitions, mergers, partnerships, and product innovations to strengthen their market positions. For instance, NIPSEA Group's subsidiary NP Auto Refinishes completed the acquisition of D-Act Co., Ltd., reinforcing its market share in Asia-Pacific.

Moreover, regulatory initiatives aimed at reducing vehicle emissions and enhancing safety standards are pushing manufacturers towards eco-friendly paint formulations. Water-based paints have gained prominence due to their lower environmental impact and compliance with these regulations.

Overall, the automotive paints market is poised for robust growth, driven by technological advancements, rising consumer demand for customized and high-quality finishes, and the expanding automotive sector in emerging economies​

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Top Factors Impacting the Waterborne Coatings Market: Insights and Forecast

The global waterborne coatings market was valued at USD 57.67 billion in 2022 and is projected to experience significant growth, with an anticipated compound annual growth rate (CAGR) of 5.6% from 2023 to 2030. This growth is primarily driven by the expansion of construction activities worldwide. The rapid industrialization and urbanization taking place across various regions are expected to spur a higher demand for waterborne coatings over the forecast period. Additionally, a shift in the coatings industry towards environmentally friendly alternatives, such as solvent-free coatings with lower emissions, is further boosting the demand for waterborne coatings. These coatings are particularly preferred for both residential and commercial applications, where they are commonly used in interior and exterior wall paint formulations.

Waterborne coatings used in these applications are typically based on acrylate/styrene dispersions. Manufacturers in the market are also working on reducing the binder content in formulations by 8–12% without compromising the overall properties of the coatings, further improving their cost-effectiveness and performance. Alkyd-based waterborne coatings are also gaining popularity, especially among interior decorators, due to their ease of application, glossy finish, and superior ability to adapt to varying climatic conditions during both application and drying.

In the automotive sector, an increase in production capacities, alongside innovations in vehicle design and aesthetics, is expected to continue driving market growth. The rising demand for automobiles, particularly in emerging economies in the Asia Pacific and Latin America regions, fueled by population growth and increasing disposable income, will also contribute to the rising adoption of waterborne coatings in vehicle manufacturing.

Gather more insights about the market drivers, restrains and growth of the Waterborne Coatings Market

Regional Insights

Europe

In 2022, Europe led the global waterborne coatings market, accounting for the largest share of over 38.1% of the total revenue. This dominance can largely be attributed to the presence of several major automobile manufacturers in the region, which contribute significantly to the demand for waterborne coatings in both OEM (original equipment manufacturer) and refinishing applications. Moreover, Europe's increasing consumer preference for luxury goods, including high-end automobiles and residential properties, is expected to further drive the need for high-quality waterborne coatings in the automotive and construction sectors.

Asia Pacific

In the Asia Pacific region, the highest growth in construction spending is anticipated, especially in emerging economies such as China, India, and Indonesia. These countries are seeing significant investments in infrastructure and urban development, which is expected to directly impact the demand for waterborne coatings. As construction activity increases, waterborne coatings are anticipated to capture a larger share of the market, especially in the residential and commercial building sectors, which constitute a major part of the construction market in this region. Countries like Indonesia, Malaysia, Thailand, and Vietnam are also expected to see growing demand for waterborne coatings due to rising construction budgets focused on residential and commercial projects.

Thus, the Asia Pacific region is poised for strong growth, driven by expanding construction activities and an increasing adoption of waterborne coatings in both new builds and renovations.

Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.

• The global ceramic coating market size was valued at USD 11.16 billion in 2023 and is projected to grow at a CAGR of 8.1% from 2024 to 2030.

• The global hydrophobic coating market was valued at USD 2.06 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030.

Key Companies & Market Share Insights

As the market continues to grow, competition among global companies in the waterborne coatings sector is expected to intensify. This is largely due to rapid innovations from both established players and emerging companies entering the industry. Manufacturers are actively working on expanding and enhancing their product portfolios by innovating and launching new formulations and products. This drive for product development is likely to stimulate further competition, pushing companies to improve their offerings in order to capture a larger share of the growing market.

Some of the prominent players in the global waterborne coatings market include:

• AkzoNobel NV

• BASF SE

• Axalta Coating Systems LLC

• Berger Paints India Ltd.

• Kansai Paint Co.,

• Nippon Paint Holdings Company Ltd.

• PPG Industries Inc.

• RPM International Inc.

• The Sherwin-Williams Company

• The Valspar Corp.

• Tikkurila Oyj

Order a free sample PDF of the Waterborne Coatings Market Intelligence Study, published by Grand View Research.

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The Automotive Refinish Coatings Market is projected to grow from USD 11,533.80 million in 2023 to an estimated USD 16,782.73 million by 2032, reflecting a compound annual growth rate (CAGR) of 4.80% from 2024 to 2032. The automotive refinish coatings market is a vital component of the global automotive industry, providing solutions for repairing and refurbishing vehicles to maintain their appearance and extend their lifespan. The market for these coatings is driven by factors such as increasing vehicle ownership, growing awareness about vehicle aesthetics, and the rising number of road accidents, which create a constant need for automotive repairs. As vehicles age or suffer damage, refinishing becomes essential, contributing significantly to this market's growth.

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Market Overview

Automotive refinish coatings are used by body shops and collision repair centers to restore damaged vehicles to their original appearance. These coatings are typically applied after an accident or collision, and they involve a multi-layer process including primers, basecoats, and clearcoats. The global market for automotive refinish coatings has been expanding steadily due to increasing vehicle sales and the rising trend of personal vehicle ownership, especially in emerging economies.

Market Drivers

1. Growing Vehicle Ownership: One of the primary factors driving the automotive refinish coatings market is the rise in vehicle ownership worldwide. The increasing number of vehicles on the road leads to a greater likelihood of accidents, collisions, and general wear and tear, all of which contribute to the demand for refinishing services. Emerging markets, particularly in Asia-Pacific regions like China and India, are witnessing rapid growth in automotive sales, further fueling the need for refinish coatings.

2. Accidents and Repairs: The surge in road accidents is another key driver for this market. Although automotive manufacturers are integrating advanced safety features into vehicles, accidents still occur frequently. This has led to a robust demand for collision repair services, where refinish coatings play an essential role in restoring vehicles to their pre-accident condition. In countries with poor road infrastructure, this demand is especially pronounced.

3. Aesthetic and Customization Trends: Consumers are increasingly interested in maintaining the aesthetic value of their vehicles, prompting a rise in aftermarket vehicle customization. Custom paint jobs, touch-ups, and aesthetic repairs have become a trend among vehicle owners, particularly in developed markets. Automotive enthusiasts, in particular, seek unique finishes, further boosting the demand for specialized refinish coatings.

4. Technological Advancements: The introduction of waterborne coatings, which are more environmentally friendly compared to solvent-based coatings, has revolutionized the automotive refinish industry. These coatings reduce volatile organic compound (VOC) emissions, aligning with strict environmental regulations in many countries. The development of advanced coatings that offer better durability, faster curing times, and enhanced color retention also contributes to market growth.

Market Challenges

Despite its promising growth, the automotive refinish coatings market faces some challenges:

1. Stringent Environmental Regulations: With the growing focus on environmental sustainability, many countries have implemented stringent regulations governing the emission of VOCs from paints and coatings. Compliance with these regulations requires the development and use of eco-friendly coatings, which can be more expensive. This has led to a shift towards waterborne coatings, but the transition is not always easy for small or medium-sized refinishing shops, particularly in developing regions.

2. High Costs: The cost of advanced refinish coatings, especially those that meet strict environmental standards, can be prohibitively high for some consumers and repair shops. This is particularly true for high-quality clear coats and customized color finishes. In price-sensitive markets, this can limit the adoption of premium coatings.

3. Supply Chain Disruptions: Like many industries, the automotive refinish coatings market has been impacted by global supply chain disruptions. Raw material shortages and logistical challenges have driven up the cost of coatings, creating difficulties for manufacturers and suppliers. In some regions, this has led to longer wait times for repairs and a shift in consumer behavior.

Competitive Landscape

The global automotive refinish coatings market is highly competitive, with several key players dominating the landscape. Companies such as **PPG Industries, Axalta Coating Systems, BASF SE, Sherwin-Williams, and AkzoNobel** lead the market with their wide range of products and continuous innovation. These players are focused on developing advanced coatings that meet environmental regulations while maintaining high performance.

Key players

BASF SE

Flora Refinish Coatings LLC

PPG Industries Limited

Nippon Paint Inc.

Stahl Holdings B.V.

AkzoNobel N.V.

The Sherwin-Williams Company

Axalta Worldwide

TCI Powder Refinish Coatings

Kansai Nerolac

Eastman Chemical Company

Carl Schlenk AG

Segments

Based on Resin

Polyurethane

Alkyd

Acrylic

Others

Based on Technology

Water-borne

Solvent-borne

Others

Based on Coat Type

Clearcoat

Basecoat

Primer

Activator

Fillers

Based on Application

Passenger Vehicles

Commercial Vehicles

Others

Based on Region

North America

The U.S

Canada

Mexico

Europe

Germany

France

The U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of Middle East and Africa

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Africa Automotive Refinish Coatings Market Outlook 2024-2032: Growth, Trends, and Insights

The Africa automotive refinish coatings market share attained a value of USD 153.09 million in 2023, and it is expected to grow at a CAGR of 4.70% between 2024 and 2032. By the end of 2032, the market is projected to reach USD 231.06 million. The increasing vehicle fleet, rising demand for repair and maintenance services, and technological advancements in coatings are driving this growth. Major players in the market include Axalta Coating Systems South Africa (Pty) Ltd, 3M Company, Akzo Nobel N.V., James Briggs Ltd., The Sherwin Williams Company, and The Dow Chemical Company.

Market Outlook

The Africa automotive refinish coatings market is witnessing steady growth due to the rising demand for vehicle repair and refurbishment services across the continent. With the increasing age of vehicles and frequent road accidents, there is a growing need for refinishing coatings to maintain and restore the appearance of vehicles. The rising number of used car sales and increasing disposable income levels are also contributing to market expansion.

Technological innovations in coatings, such as UV-cured and waterborne coatings, are gaining popularity due to their environmental benefits and efficiency. Furthermore, the growing awareness of sustainable products and eco-friendly solutions is propelling the adoption of low-VOC (Volatile Organic Compound) coatings in the automotive sector.

Report Overview

This report provides a comprehensive analysis of the Africa automotive refinish coatings market from 2024 to 2032. It examines key trends, market dynamics, drivers, challenges, segmentation, and recent developments in the industry. The report also highlights the major players shaping the market and their strategies to maintain a competitive edge.

Market Size and Dynamics

The Africa automotive refinish coatings market reached a size of USD 153.09 million in 2023. It is forecast to grow at a CAGR of 4.70%, reaching USD 231.06 million by 2032. This growth is fueled by several factors:

Growing Automotive Aftermarket: The increasing demand for vehicle repair services and the growth of the automotive aftermarket are driving the need for refinish coatings.

Technological Advancements: Innovations in coating technologies, such as UV-cured and waterborne coatings, are improving the durability and performance of refinish coatings, leading to higher demand.

Environmental Concerns: With the rising awareness of environmental sustainability, there is an increasing demand for eco-friendly coatings that comply with stringent VOC regulations.

Market Drivers

Increasing Vehicle Fleet: The growing number of vehicles on African roads, particularly in countries such as South Africa, Nigeria, and Kenya, is contributing to the demand for automotive refinish coatings. As vehicles age, they require maintenance and repair, boosting the demand for coatings.

Rising Used Car Market: The used car market in Africa is expanding rapidly, creating opportunities for the automotive refinish coatings market. Older vehicles often need repainting and refinishing, driving demand for coatings.

Advancements in Coating Technologies: Technological developments in coatings, such as fast-curing systems, eco-friendly formulations, and enhanced durability, are appealing to both consumers and automotive repair shops. These innovations are expected to support market growth over the forecast period.

Key Market Challenges

Price Sensitivity: The automotive refinish coatings market in Africa is price-sensitive, especially in the lower and middle-income segments. High costs associated with premium coatings may limit market growth.

Lack of Skilled Workforce: The lack of skilled labor and professional automotive repair facilities in some African countries can hamper the adoption of advanced coatings.

Economic Instability: Economic instability and fluctuating exchange rates in several African countries may pose challenges for the import and distribution of premium coating products.

Segmentation Analysis

The Africa automotive refinish coatings market can be segmented based on product type, technology, and end-user.

By Product Type: The market is divided into primer, basecoat, clearcoat, and activator. The basecoat segment dominates the market due to its use in providing the primary color and aesthetic appeal to vehicles.

By Technology: Segments include solvent-borne, waterborne, and UV-cured coatings. Waterborne coatings are gaining traction due to their lower environmental impact and compliance with VOC regulations.

By End-User: The market is segmented into commercial and passenger vehicles. Passenger vehicles hold the largest share due to the growing number of personal vehicles in Africa.

Recent Developments

Axalta Coating Systems has expanded its product offerings in Africa by introducing advanced refinish coatings that offer superior durability and eco-friendly features.

3M Company is focusing on expanding its presence in the African market by offering a range of refinish solutions that cater to both high-end and economy segments, ensuring accessibility to all consumer levels.

Akzo Nobel N.V. continues to invest in sustainable coating technologies, offering a range of waterborne and low-VOC refinish coatings in the African market.

Component Insights

The key components in the automotive refinish coatings market include basecoats, clearcoats, primers, and thinners. Basecoats are essential in providing the vehicle’s color, while clearcoats protect the basecoat and give the vehicle a glossy finish. Primers help in improving the adhesion of coatings, and thinners adjust the viscosity of the coatings for smoother application.

End-User Insights

Passenger Vehicles: The demand for refinish coatings in the passenger vehicle segment is driven by the growing number of private car owners seeking aesthetic improvements and repairs.

Commercial Vehicles: Commercial vehicles also contribute to the market, particularly for fleet maintenance and branding purposes.

Regional Insights

South Africa: South Africa holds the largest market share in the Africa automotive refinish coatings market due to its well-developed automotive industry and a growing number of vehicle repair and maintenance facilities.

Nigeria: Nigeria is expected to witness significant growth due to the rising used car market and increasing consumer demand for affordable vehicle repairs.

Kenya: Kenya is emerging as a key market for automotive refinish coatings due to its expanding automotive aftermarket.

Key Players

Axalta Coating Systems South Africa (Pty) Ltd

3M Company

Akzo Nobel N.V.

James Briggs Ltd.

The Sherwin Williams Company

The Dow Chemical Company

Market Trends

Shift Toward Eco-Friendly Coatings: The demand for environmentally friendly coatings is on the rise, with many companies introducing low-VOC and waterborne solutions that meet global environmental standards.

Growing Use of UV-Cured Coatings: UV-cured coatings are gaining popularity due to their fast curing times and superior finish quality, reducing vehicle downtime and improving efficiency.

Rising Demand for Customization: Consumers are increasingly seeking customized vehicle finishes, driving demand for specialty coatings that offer unique colors and textures.

6 FAQs with Answers

What is driving the growth of the automotive refinish coatings market in Africa? The growth is driven by the increasing number of vehicles on the road, rising demand for repair and maintenance services, and advancements in coating technologies.

Which type of coating is most in demand? Basecoats dominate the market as they provide the primary color and aesthetic appeal of vehicles.

What are the key challenges in the market? Price sensitivity, lack of skilled workforce, and economic instability are key challenges facing the market.

Which regions in Africa are leading the market? South Africa, Nigeria, and Kenya are the leading regions in the Africa automotive refinish coatings market.

What are the major trends in the market?

The shift toward eco-friendly coatings, growing use of UV-cured coatings, and increasing demand for vehicle customization are major trends.

Who are the key players in the Africa automotive refinish coatings market? Key players include Axalta Coating Systems South Africa, 3M Company, Akzo Nobel N.V., James Briggs Ltd., and The Sherwin Williams Company.

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UV Stabilizers Market- Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2024–2030.

UV Stabilizers Market Overview :

UV Stabilize Market size is forecast to reach $2,243.13 million by 2030, after growing at a CAGR of 6.4% during 2024–2030, owing to the wide usage of UV stabilizer in various applications such as furniture, architectural, automotive, packaging, and more. UV stabilizers filters harmful UV light and helps prevent colour change and delamination of coatings, adhesives, and sealants owing to which it is extensively used in these applications. The growing need for packaging and automotive due to rapid urbanization and increasing population in various regions, is the major factor driving the growth of UV stabilizers market during the forecast period. In addition, the growing demand of greenhouse films globally is anticipated to play a key role in driving the UV stabilizers market during the forecast period.

Market snapshot

UV Stabilizers Market Report Coverage

The report: “UV Stabilizers Market — Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the UV stabilizers Industry.  By Type: Hindered Amine Light Stabilizers, UV Absorbers, and Quenchers By Application: Coatings (Waterborne Coatings, UV Curable Coatings, and Others), Adhesives and Sealants, Plastics, and Others. By End-Use Industry: Architectural (Residential, and Commercial), Agriculture, Automotive (Automotive Interior, and Automotive Exterior), Furniture (Outdoor Furniture, and Indoor Furniture), Packaging (Beverage Packaging, Food Packaging, and Toiletries & Cosmetics Packaging), and Others By Geography: North Americas, South America, Europe, Asia Pacific, RoW

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Key Takeaways

Asia-Pacific region is poised to dominate the UV stabilizer market due to significant growth in construction, packaging, and automotive sectors across countries like China, India, and South Korea.

Light stabilizer solutions in which UV absorbers and HALS (Hindered amine light stabilizers) are synergistically combined, provide high-performance solutions for automotive OEM refinish paints, which tends to increase the market growth.

Even in indoor diffuse light conditions, naturally pale wood tends to yellow and darken with time as a result of lignin photo-oxidation. So to avoid photo-oxidation the UV stabilizers are widely used in the indoor furniture.

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UV Stabilizers Market Segment Analysis — By Type

The hindered amine light stabilizers (HALS) segment held the largest share in the UV stabilizer market in 2023, as it efficiently inhibits polymer degradation. HALS high efficiency and longevity are due to a cyclic process wherein the HALS are regenerated rather than consumed during the stabilization process. Hindered amine light stabilizers are very efficient stabilizers for polymers and especially polyolefins. They do not absorb UV radiation but act to inhibit degradation of the polymer. In addition, significant levels of stabilization are achieved at relatively low concentrations on using hindered amine light stabilizers due to which its demand is increasing from various end-use industries. All these factors are boosting the demand for hindered amine light stabilizers (HALS) during the forecast period.

UV Stabilizers Market Segment Analysis — By Application

The flooring and decking segment is poised to capture the largest share of the market. The surge in UV stabilizer usage for flooring and decking is primarily attributed to the rising trend of outdoor living spaces among consumers. As the demand for functional and appealing outdoor areas grows, decking and patios have gained significant popularity. Additionally, UV stabilizers play a critical role in protecting flooring and decking materials from premature aging and weathering. Revenue generated from flooring and decking is closely linked to the construction industry, making its development crucial for UV stabilizer demand. Consequently, these factors within the flooring and decking segment are expected to propel the growth of the UV stabilizers market in the forecast period.

UV Stabilizers Market Segment Analysis — By End Use Industry

UV stabilizers play a crucial role in the packaging industry, serving as key components in materials like plastics to uphold packaging integrity and visual appeal throughout storage and transit. A notable trend within this realm is the escalating requirement for UV-resistant packaging materials, notably in the food and beverage sector, to preserve product quality and extend shelf life. Manufacturers are actively engaged in crafting UV stabilizers customized for specific packaging needs to address the industry’s changing dynamics. Conversely, the automotive segment is poised for the most rapid growth in the foreseeable future. UV stabilizers are indispensable in safeguarding various vehicle components, including interior materials and coatings, from UV radiation. An observable trend in this domain is the adoption of UV-stabilized materials to uphold the appearance and endurance of automotive parts exposed to sunlight. As automotive designs increasingly integrate plastics, there’s a mounting demand for UV stabilizers to ensure these materials endure UV exposure, thereby enhancing vehicle durability and aesthetics. The automotive industry remains a pivotal force propelling the UV stabilizers market forward

UV Stabilizers Market Segment Analysis — By Geography

North America leads the UV stabilizers market revenue share due to the strong presence of established automakers, which extensively use these stabilizers in vehicles. The automotive sector’s projected expansion in manufacturing will drive up demand for ultraviolet stabilizers in the foreseeable future. Plastic serves as a prevalent packaging material across diverse sectors such as food & beverage and PET bottles. The U.S. Food and Drug Administration ensures the safety of food packaging materials, particularly polymers in contact with food products. Additionally, the Asia Pacific region is poised to experience a significant Compound Annual Growth Rate (CAGR) in the global UV stabilizers market. China’s packaging sector is witnessing growth driven by technological advancements and research efforts in food packaging, meeting demands for safer and cleaner packaging solutions. Urbanization in China has intensified the need for processed and packaged foods as cities lack agricultural resources, further boosting the demand for food packaging materials.

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UV Stabilizers Market Challenges

Fluctuations of UV stabilizers costs for raw materials

The costs of raw materials essential for UV stabilizer production, such as aluminum chloride, benzene, sodium nitrite, and benzoyl chloride, experience regular fluctuations. These fluctuations directly influence the pricing of UV stabilizers, consequently impacting market growth. Presently, benzene is priced at USD 696.7 per metric ton, sodium nitrite at USD 40 per kilogram, and benzoyl chloride at USD 38 per 1000 grams.

Limited awareness and adoption

UV stabilizers pose challenges for manufacturers in North America. Some industries and end-users may lack understanding regarding the benefits and applications of UV stabilizers. Educating the market about the significance of UV protection and the advantages of utilizing UV stabilizers is essential. Manufacturers must focus on building awareness and illustrating the value proposition of UV stabilizers to facilitate their adoption in various industries.

UV Stabilizers Market Drivers

Increasing Level of UV Radiation and The Harmful Effect of UV Radiation

The increased use of refrigerator and AC, which emits ozone-layered gasses, has led significantly to an increasing UV radiation level. NASA has stated that in the last 30 years, the amount of UV radiation has raised dramatically causing degenerative effects on sunlight materials. The increased use of gas emission devices enhances the growth of the UV stabilizer market with increased UV radiation. People are becoming increasingly aware about the harmful effects of different materials such as plastics and wood. Polymer photo degradation occurs when a substance is exposed to UV radiation and the physical characteristics of the substance, such as colour, loss of material strength, elongation and tensile strength characteristics or surface cracking, are deteriorated. The manufacturers therefore apply UV light stabilizers to prevent damage and avoid loss of components that are exposed to UV radiation. Thus, the increasing level of UV radiation and the harmful effect of UV radiation act as a driver for the UV stabilizers market growth.

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Escalating Construction Sector

Continuing infrastructure growth has enabled construction industry to expand. Alternative inexpensive raw materials like plastic and wood products are preferred by businesses or manufacturing. However, these materials can be quickly shaped into various forms, which contribute to substantial demand for flooring, shielding and fencing applications. Such materials with high exposure to the sun cause degradation and UV stabilizers have been applied as a coating substrate on such materials to minimize such efficiencies. The rapid growth of housing and construction industry spending has increased dramatically in the U.S. and Mexico, resulting in the economic development of the region of North America. Eco-friendly use, low VOC emissions and high content of UV stabilizers are favored for the use of wood coating. Because of rising demand and the large building and construction market in the region, the country exports almost 90 percent of the furniture from US manufactures. This is a major factor in the growth of UV stabilizers in North America, such as HALS and UV absorbers. The growing use of plastics and wood in the building industry will thus drive the growth of ultraviolet stabilizers to preserve their intensity.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the UV stabilizers market. In 2023, the market of UV stabilizers has been consolidated by the top eight players accounting for 60% of the share. Major players in the UV stabilizers market are BASF SE, Solvay S.A., Songwon Industrial Co., Ltd., Everlight Chemical Industrial Corp., ADEKA Corporation, Mayzo Inc., Clariant AG., Addivant, Lycus Ltd. LLC, and Valtris Specialty Chemicals.

Acquisitions/Technology Launches

In April 2023, Damen Shipyards, in collaboration with AkzoNobel and Philips, developed a fouling control solution using UV-C light technology for ship hulls.

In March 2023, Clariant and Omya joined forces to address yellowing concerns in SMP sealants with the introduction of AddWorks IBC 760.

In July 2022, Solvay introduced a novel range of UV-C stabilizers tailored for hygiene applications, aimed at combating COVID-19 and reducing the incidence of hospital-acquired infections.

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Automotive Refinish Market 2024 : Size, Growth Rate, Business Module, Product Scope, Regional Analysis And Expansions 2033

The Automotive Refinish Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Automotive Refinish Global Market Report 2024, The automotive refinish market size is expected to see strong growth in the next few years. It will grow to $16.20 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to higher accident rates, the rise of OEM (Original Equipment Manufacturer) standards, the rise of do-it-yourself (DIY) culture, stricter regulations on emissions, and changes in vehicle ownership patterns. Major trends in the forecast period include innovations in refinishing products, developments in paint and coating technologies, advancements in skilled technicians, advancements in digital color matching technology, and technological advancements.

The rise in instances of accidents and vehicle damages is expected to propel the growth of the automotive refinish market going forward. The main causes of the rise in instances of accidents and vehicle damages include driver behavior such as speeding, distracted driving, and drunk driving, as well as unsafe road infrastructure and vehicle design. Automotive refinishing is used for repairing and restoring vehicle exteriors after accidents or damages, ensuring aesthetic and structural integrity. It helps maintain the vehicle's appearance and resale value. For instance, in May 2022, according to an estimate published by the National Highway Traffic Safety Administration (NHTSA), a US-based federal agency, the number of fatalities in motor vehicle traffic crashes increased by 10.5%, with an estimated 42,915 deaths in 2021 compared to 38,824 fatalities in 2020. Therefore, the rise in instances of accidents and vehicle damages is driving the growth of the automotive refinish market.

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The automotive refinish market covered in this report is segmented –

1) By Product Type: Primer, Base Coat, Top Coat, Clear Coat 2) By Material Type: Polyurethanes, Acrylics, Alkyd 3) By Technology: Solvent Borne, Water Borne, Ultraviolet (UV) Cure 4) By Applications: Passenger Vehicle, Commercial Vehicle 5) By End User: Original Equipment Manufacturer (OEM), Aftermarket

Major companies operating in the automotive refinish market are focusing on technological advancements, such as low-gloss clearcoat systems, to better serve customers. A low-gloss clearcoat system is a type of automotive clear coat that can reproduce a range of gloss levels, making it ideal for applications that require a matte or satin finish rather than a high-gloss shine. For instance, in May 2021, PPG Industries Inc., a US-based paint and coating manufacturing company, launched a new waterborne low-gloss clearcoat system consisting of two high-quality 2K acrylic urethane clears. This system can achieve a variety of gloss levels, making it perfect for specialized refinish repairs on low-gloss finishes. This new clearcoat system is part of PPG's broad range of clearcoats designed to meet diverse bodyshop and OEM needs. This range includes their award-winning CERAMICLEAR line as well as Matt and Express Clearcoats. PPG also offers a comprehensive selection of hardeners and thinners, facilitating a wide array of repair processes, from spot repairs to complete resprays, in various temperatures and body shop conditions.

The automotive refinish market report table of contents includes:

1. Executive Summary 

2. Automotive Refinish Market Characteristics

3. Automotive Refinish Market Trends And Strategies

4. Automotive Refinish Market - Macro Economic Scenario

5. Global Automotive Refinish Market Size and Growth ..........

32. Global Automotive Refinish Market Competitive Benchmarking

33. Global Automotive Refinish Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Automotive Refinish Market

35. Automotive Refinish Market Future Outlook and Potential Analysis

36. Appendix

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[downincmi]

Coil Coating Market: Navigating Regulatory Challenges for Growth

Coil coatings are coating materials that are applied as a thin layer protective film onto metal coils and sheets. They help protect the underlying substrate from corrosion and other environmental damages. Coil coatings provide excellent gloss retention and color stability. They find applications in construction, appliances, automobiles and other general industrial applications.

The global coil coatings market size is estimated to be valued at US$ 1,510.97 billion in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period from 2023 to 2030. Key Takeways Key players operating in the coil coatings market are Beckers Group., Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd. Key players are focusing on developing bio-based and sustainable coil coating products to capitalize on the growing environmental consciousness. For instance, Beckers Group offers Beckryl waterborne and sustainably certified coil coatings. The growing construction industry across the globe is driving the demand for coil coatings. Coil coatings find widespread application in roofing, siding, decking, and other building components in the construction of commercial and residential buildings. Rapid urbanization and infrastructure development are augmenting the growth of the global construction industry. Geographic expansion into emerging economies is another key trend observed in the coil coatings market. Leading manufacturers are focusing on setting up production facilities or acquiring regional players in high growth markets like Asia Pacific, Middle East & Africa and South America. This allows them to better serve the local demand and leverage growth opportunities. For example, AkzoNobel has production sites across 20 countries to serve customers globally. Market key trends Sustainable product innovation is a major trend in the coil coatings market. Customers are increasingly preferring eco-friendly coatings manufactured using bio-based resins and low or zero VOCs. To cater to this demand, manufacturers are investing in R&D to develop novel and greener coating formulations. For instance, Beckers Group offers Xyladecor coil coating made from wood extracts and Nippon Paint provides Novacq water-based coil coating with very low environmental footprint. Such innovations will drive further revenue growth of the market over the coming years.

Porter’s Analysis Threat of new entrants: New entrants face high capital requirements to enter the mature coil coatings market.

Bargaining power of buyers: Large buyers in the automotive and construction industries can negotiate lower prices from suppliers due to their purchasing power.

Bargaining power of suppliers: The presence of many suppliers ensures that no individual supplier has significant influence over prices.

Threat of new substitutes: There exists a threat from substitute materials like powder coatings and galvanizing for end-use applications.

Competitive rivalry: The rivalry among existing players is very high as they compete on the basis of product quality, price and service. Geographical Regions North America accounted for the largest share of the global coil coatings market in terms of value in historical year. This is attributed to the presence of well-established construction and automotive industries in the region. Asia Pacific is expected to be the fastest growing geographical market for coil coatings between the forecast period. This growth can be attributed to increasing automobile production and construction activities in developing countries like China and India.

[marketpattern]

Automotive Speciality Coatings Market Strategies for Growth, Segmentation, and Market Overview by 2024-2031

The "Automotive Speciality Coatings Market" is a dynamic and rapidly evolving sector, with significant advancements and growth anticipated by 2031. Comprehensive market research reveals a detailed analysis of market size, share, and trends, providing valuable insights into its expansion. This report delves into segmentation and definition, offering a clear understanding of market components and drivers. Employing SWOT and PESTEL analyses, the study evaluates the market's strengths, weaknesses, opportunities, and threats, alongside political, economic, social, technological, environmental, and legal factors. Expert opinions and recent developments highlight the geographical distribution and forecast the market's trajectory, ensuring a robust foundation for strategic planning and investment.

What is the projected market size & growth rate of the Automotive Speciality Coatings Market?

Market Analysis and Size

The global car sales figure in 2022 grew to an estimated 66.1 million in 2022. Though there was an economic slowdown at a global level, the figure is projected to go past 70 million in 2023. Advancements in the automobile exterior models and interior components will result in positively impacting subsequent and related markets. One such market is automotive speciality coatings market. The manufacturers of automotive speciality coatings are aggressively expanding their businesses to meet the growing demand from the automotive industry.

Data Bridge Market Research analyses that the automotive speciality coatings market, valued at USD 3.55 billion in 2022, will reach USD 4.63 billion by 2030, growing at a CAGR of 3.37% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 350 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

This research report is the result of an extensive primary and secondary research effort into the Automotive Speciality Coatings market. It provides a thorough overview of the market's current and future objectives, along with a competitive analysis of the industry, broken down by application, type and regional trends. It also provides a dashboard overview of the past and present performance of leading companies. A variety of methodologies and analyses are used in the research to ensure accurate and comprehensive information about the Automotive Speciality Coatings Market.

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Which are the driving factors of the Automotive Speciality Coatings market?

The driving factors of the Automotive Speciality Coatings market include technological advancements that enhance product efficiency and user experience, increasing consumer demand driven by changing lifestyle preferences, and favorable government regulations and policies that support market growth. Additionally, rising investment in research and development and the expanding application scope of Automotive Speciality Coatings across various industries further propel market expansion.

Automotive Speciality Coatings Market - Competitive and Segmentation Analysis:

Global Automotive Speciality Coatings Market, By Application (Engine & Exhaust, Interior, Transmission, Wheel Rims), Type (Solvent- Borne, Waterborne, Powder Coatings), Resin Type (Polyurethane, Epoxy, Acrylic), Substrate (Metal, Plastic), Electric & Hybrid Vehicle Type (HEV, PHEV, BEV), Vehicle Type (Passenger Car, LCV, HCV), End-Use (Commercial OEM, Automotive Refinish, Light Vehicle OEM) – Industry Trends and Forecast to 2031.

How do you determine the list of the key players included in the report?

With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.

Which are the top companies operating in the Automotive Speciality Coatings market?

Some of the major players operating in the automotive speciality coatings market are:

AkzoNobel N.V. (Netherlands)

PPG Industries Inc., (U.S.)

The Sherwin-Williams Company (U.S.)

RPM International Inc. (U.S.)

NIPSEA GROUP (Singapore)

Arkema (France)

Cardolite Corporation (U.S.)

BASF SE (Germany)

Evonik Industries AG (Germany)

Reichhold LLC (U.S.)

DSM (Netherlands)

Qualipoly Chemical Corp. (Taiwan)

Arakawa Chemical Industries,Ltd. (Japan)

Eternal Materials Co.,Ltd.  (Taiwan)

Wacker Chemie AG (Japan)

DIC CORPORATION (Japan)

Short Description About Automotive Speciality Coatings Market:

The Global Automotive Speciality Coatings market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

North America, especially The United States, will still play an important role which can not be ignored. Any changes from United States might affect the development trend of Automotive Speciality Coatings. The market in North America is expected to grow considerably during the forecast period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.

Europe also play important roles in global market, with a magnificent growth in CAGR During the Forecast period 2024-2031.

Automotive Speciality Coatings Market size is projected to reach Multimillion USD by 2031, In comparison to 2024, at unexpected CAGR during 2024-2031.

Despite the presence of intense competition, due to the global recovery trend is clear, investors are still optimistic about this area, and it will still be more new investments entering the field in the future.

This report focuses on the Automotive Speciality Coatings in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

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What are your main data sources?

Both Primary and Secondary data sources are being used while compiling the report. Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users. Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2024-2031) of the following regions are covered in Chapters

What are the key regions in the global Automotive Speciality Coatings market?

North America (United States, Canada and Mexico)

Europe (Germany, UK, France, Italy, Russia and Turkey etc.)

Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)

South America (Brazil, Argentina, Columbia etc.)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

This Automotive Speciality Coatings Market Research/Analysis Report Contains Answers to your following Questions

What are the global trends in the Automotive Speciality Coatings market?

Would the market witness an increase or decline in the demand in the coming years?

What is the estimated demand for different types of products in Automotive Speciality Coatings?

What are the upcoming industry applications and trends for Automotive Speciality Coatings market?

What Are Projections of Global Automotive Speciality Coatings Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?

Where will the strategic developments take the industry in the mid to long-term?

What are the factors contributing to the final price of Automotive Speciality Coatings?

What are the raw materials used for Automotive Speciality Coatings manufacturing?

How big is the opportunity for the Automotive Speciality Coatings market?

How will the increasing adoption of Automotive Speciality Coatings for mining impact the growth rate of the overall market?

How much is the global Automotive Speciality Coatings market worth? What was the value of the market In 2020?

Who are the major players operating in the Automotive Speciality Coatings market? Which companies are the front runners?

Which are the recent industry trends that can be implemented to generate additional revenue streams?

What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Automotive Speciality Coatings Industry?

Customization of the Report

Can I modify the scope of the report and customize it to suit my requirements? Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.

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Detailed TOC of Global Automotive Speciality Coatings Market Insights and Forecast to 2031

Introduction

Market Segmentation

Executive Summary

Premium Insights

Market Overview

Automotive Speciality Coatings Market By Type

Automotive Speciality Coatings Market By Function

Automotive Speciality Coatings Market By Material

Automotive Speciality Coatings Market By End User

Automotive Speciality Coatings Market By Region

Automotive Speciality Coatings Market: Company Landscape

SWOT Analysis

Company Profiles

Continued...

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Today's trends are a great way to predict future events!

Data Bridge Market Research is a market research and consulting company that stands out for its innovative and distinctive approach, as well as its unmatched resilience and integrated methods. We are dedicated to identifying the best market opportunities, and providing insightful information that will help your business thrive in the marketplace. Data Bridge offers tailored solutions to complex business challenges. This facilitates a smooth decision-making process. Data Bridge was founded in Pune in 2015. It is the product of deep wisdom and experience.

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Exploring the Booming Waterborne Polyurethane Market

Overview and Scope Waterborne polyurethane refers to a polyurethane polymer resin that can be dispersed in water. It has good adherence to numerous surfaces, including glass and polymeric fibres, and can be formed into coatings and adhesives.

Sizing and Forecast The waterborne polyurethane market size has grown strongly in recent years. It will grow from $5.07  billion in 2023 to $5.41  billion in 2024 at a compound annual growth rate (CAGR) of 6.6%.  The  growth in the historic period can be attributed to government investments in research and development, environmental regulations, market demand shift, advancements in formulation, industry adoption..

The waterborne polyurethane market size is expected to see strong growth in the next few years. It will grow to $6.98  billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.  The growth in the forecast period can be attributed to consumer preferences for eco-friendly products, collaboration with industries, customization, impact of covid-19 pandemic, supply chain restrictions, manpower & equipment shortage.. Major trends in the forecast period include brand reputation and consumer awareness, energy efficiency, market penetration strategies, global economic trends, focus on health & safety..

To access more details regarding this report, visit the link: https://www.thebusinessresearchcompany.com/report/waterborne-polyurethane-global-market-report

Segmentation & Regional Insights The waterborne polyurethane market covered in this report is segmented –

1) By Type: Polyurethane Emulsion, Polyurethane Dispersion, Polyurethane Aqueous Solution 2) By Application: Coating, Sealant, Adhesive, Elastomer 3) By End-use industry: Building and construction, Automotive and transportation, Bedding and furniture, Electronics, Other End Users

Asia-Pacific was the largest region in the waterborne polyurethane market share in 2023. The regions covered in the waterborne polyurethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth The growth of the construction industry is expected to propel the growth of the waterborne polyurethane market going forward. The construction sector is involved in building infrastructure such as houses, buildings, bridges, and so on. Waterborne polyurethane coatings are used for both floor and wall coatings in various newly constructed buildings as a protective layer for abrasion resistance, weathering resistance, and chemical resistance, thereby increasing the demand for the waterborne polyurethane market. For instance, according to data by The Construction Index, a UK-based publisher of construction sector information, construction output increased by 1.7% in volume terms in March 2022 in comparison with February data in the UK. The rise in repair and maintenance (3.0%) and new work (1.0%) activity drove the increase in monthly construction production in March 2022. Therefore, the growth of the construction industry is driving demand for the waterborne polyurethane market.

Key Industry Players Major companies operating in the waterborne polyurethane market report are Covestro AG, Koninklijke DSM NV, BASF SE, Allnex Belgium SA, Dow Inc., H.B. Fuller Company, Wanhua Chemical Group Co. Ltd., SNP Inc., Kamsons Chemicals Pvt. Ltd., Axalta Coating Systems Ltd., The Sherwin-Williams Company, Perstorp AB, C.L Hauthaway & Son Corporation, Lamberti S.p.A., Sun Polymers International Inc., R. STAHL GmbH, Chemtura Corporation, Lanxess AG, Lubrizol Corporation, Bayer MaterialScience AG, PPG Industries Inc., Capital Resin Corporation, Walter Wurdack Inc., Palmer Holland Inc., SIWO US Inc., Brilliant Group Inc., Aditya Birla Chemicals Ltd., Hauthaway Corporation, Henkel AG & Co. KGaA, Huntsman Corporation, Nippon Polyurethane Industry Co. Ltd.

The waterborne polyurethane market report table of contents includes: 1. Executive Summary 2. Market Characteristics 3. Market Trends And Strategies 4. Impact Of COVID-19 5. Market Size And Growth 6. Segmentation 7. Regional And Country Analysis . . . 27. Competitive Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis

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The global epoxy resin market is currently witnessing substantial growth. In 2024, the market was valued at USD 2622.71 million and is anticipated to grow at a CAGR of 5.75%, projecting a value of USD 4102.63 million by 2032. The global epoxy emulsion market has experienced significant growth over the past few years, driven by increasing demand from various end-use industries such as construction, automotive, and electronics. Epoxy emulsions, known for their excellent adhesion, mechanical properties, and chemical resistance, are waterborne systems that offer environmental benefits over traditional solvent-based systems. This article delves into the market dynamics, key drivers, trends, and future prospects of the epoxy emulsion market.

Browse the full report at https://www.credenceresearch.com/report/epoxy-emulsion-market

Market Size and Forecast

As of 2023, the global epoxy emulsion market is valued at approximately USD 3.5 billion. It is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030, reaching an estimated value of USD 5.6 billion by 2030. This growth is primarily attributed to the rising awareness of environmental sustainability and the stringent regulations regarding volatile organic compounds (VOCs) emissions. The shift towards eco-friendly products in various industries has significantly bolstered the adoption of epoxy emulsions.

Key Market Drivers

1. Environmental Regulations and Sustainability: One of the primary drivers for the epoxy emulsion market is the increasing environmental regulations imposed by governments worldwide. Traditional solvent-based epoxy systems release VOCs, which are harmful to both the environment and human health. Epoxy emulsions, being waterborne, significantly reduce VOC emissions, making them a preferred choice for industries aiming to comply with environmental standards.

2. Growth in the Construction Industry: The construction industry is one of the largest consumers of epoxy emulsions. These emulsions are widely used in coatings, adhesives, and sealants due to their superior adhesion, durability, and resistance to chemicals and moisture. The ongoing infrastructure development, particularly in emerging economies, is driving the demand for epoxy emulsions in this sector.

3. Technological Advancements: Continuous advancements in epoxy emulsion technology have led to the development of products with enhanced properties such as improved flexibility, faster curing times, and better performance in extreme conditions. These innovations are expanding the application scope of epoxy emulsions, further driving market growth.

4. Automotive Industry Demand: The automotive industry is another significant end-user of epoxy emulsions. These emulsions are used in automotive coatings and adhesives, providing excellent corrosion resistance and durability. With the increasing production of electric vehicles (EVs) and the focus on lightweight materials, the demand for epoxy emulsions in the automotive sector is expected to rise.

Market Trends

The epoxy emulsion market is witnessing several notable trends that are shaping its growth trajectory. One such trend is the increasing use of bio-based epoxy emulsions. Manufacturers are investing in the development of bio-based alternatives to reduce dependence on petrochemical sources and enhance the sustainability of their products. These bio-based emulsions offer similar performance characteristics as traditional epoxy emulsions, making them suitable for various applications.

Another trend is the growing adoption of epoxy emulsions in the electronics industry. With the miniaturization of electronic components and the need for high-performance adhesives and coatings, epoxy emulsions are gaining traction due to their excellent electrical insulation properties and thermal stability.

Regional Analysis

Geographically, the Asia-Pacific region dominates the epoxy emulsion market, accounting for the largest share in terms of revenue. The rapid industrialization, urbanization, and infrastructural development in countries such as China, India, and Japan are driving the demand for epoxy emulsions in the region. North America and Europe are also significant markets, driven by the stringent environmental regulations and the presence of established end-use industries.

Key Players

The global epoxy emulsion market is highly competitive, with several key players actively investing in research and development to gain a competitive edge. Some of the leading companies in the market include:

1. BASF SE: A global leader in the chemical industry, BASF offers a wide range of epoxy emulsions for various applications. The company focuses on sustainability and innovation to meet the evolving market demands.

2. Huntsman Corporation: Huntsman is another major player in the epoxy emulsion market, known for its advanced chemical solutions and extensive product portfolio. The company's emphasis on technological advancements and customer-centric approach drives its market presence.

3. The Dow Chemical Company: Dow's extensive range of epoxy emulsions caters to diverse industries, including construction, automotive, and electronics. The company's commitment to sustainability and innovation is a key driver of its growth in the market.

4. 3M Company: 3M is renowned for its innovative solutions and high-performance materials. The company's epoxy emulsions are widely used in coatings, adhesives, and sealants, contributing to its strong market position.

Future Outlook

The future of the epoxy emulsion market looks promising, with sustained growth expected over the next decade. The increasing focus on sustainability, coupled with advancements in technology, will continue to drive the demand for epoxy emulsions across various industries. The ongoing research and development efforts to enhance the performance characteristics and expand the application scope of epoxy emulsions will further fuel market growth.

Key Players:

China Petrochemical & Chemical Corp. (SINOPEC)

Aditya Birla Chemicals (India)

Kolon Industries Inc. (South Korea)

Atul Ltd. (India)

Ciech S.A. (Poland)

Huntsman International Ltd. (U.S.)

Nan Ya Plastics Corporation (Taiwan)

Chang Chun Group (Taiwan)

Spolchemie (Czech Republic)

Olin Corporation (U.S.)

Macro Polymers (India)

Dow (U.S.), among others

Segmentation

By Type

DGBEF

Aliphatic

Glycidylamine

DGBEA

Novolac

Others

By  Technology

Liquid Epoxy

Waterborne Epoxy

Solvent-cut epoxy

Others

By Application

Paints and coatings

Grouts and Mortars

Adhesives

Composites

Electronic Encapsulation

Others

By End-User

Aerospace

Automotive and Transportation

Building and Construction

Electrical & Electronics

Marine

Others

By Region

North America

US

Canada

Mexico

Europe

Germany

France

UK.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of the Middle East and Africa

Browse the full report at https://www.credenceresearch.com/report/epoxy-emulsion-market

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