Asia-Pacific Automotive Refinish Coatings Market is expected to grow with a CAGR of 4.2% in the forecast period of 2022 to 2029. The years considered for the study are as mentioned below.
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Asia Pacific automotive refinish coatings market is a highly consolidated market, which includes a specific number of key players and local players. The market has witnessed increased strategic developments owing to a favourable market scenario.
The major players in Asia-Pacific automotive refinish coatings market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.
For instance,
- In May 2022, BASF SE expanded its Automotive Coatings Application Center at the Coatings Technology Center in Mangalore, India. This center will be part of BASF's existing research and development (R&D) facilities for automotive coatings solutions and is equipped with state-of-the-art equipment, such as high-precision climate-controlled spray booth and electrostatic rotary bell applicators, and advanced quick connection system for electrostatic applications.
- In November 2021, 3M launched its 3M Ceramic Coating, a premium treatment for the Indian automotive and paint industry. The products are developed with 3 M's advanced technology that gives a premium finish and robust protection. The ceramic coating enables more accessible car care procedures with minimal maintenance.
PPG Industries, Inc
PPG was headquartered in Pennsylvania, United States, and was founded in 1883 as public ownership. The company manufactures and supplies paints, coatings, optical products, and specialty materials. The company has business segments, performance coatings and industrial coatings, out of which performance coatings is a focused segment. The company has product categories aerospace, automotive OEM, automotive refinish, industrial coatings, packaging coatings, protective & marine coating, traffic solutions, specialty coating & materials out of which automotive refinish is a focused category. The company has a presence in North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The company has subsidiaries such as Comex Group (U.S.), Glidden (U.S.), Tikkurila (Finland), Ennis Traffic Safety Solutions (U.S.), Karl WÖRwag Lack‑ Und Farbenfabrik Gmbh & Co. Kg (Germany) amongst others.
- In April 2019, PPG Industries, Inc. announced that it implemented a price increase for its automotive refinish products in China from April 1, 2019, owing to significant cost increases in many areas, incredibly raw materials, logistics, and freight.
AKZO NOBEL N.V.
Akzo Nobel N.V. is headquartered in Amsterdam, the Netherlands, and as public ownership, it was founded in 1884. The company is engaged in manufacturing sustainable and innovative paints and coatings. The company has business segments decorative paints and performance coatings, under which performance coatings are the focus. The company has product categories decorative paints, automotive and specialty coatings, industrial coatings, marine, protective, and yacht coatings, and powder coatings, out of which automotive and specialty coatings is focused category. The company is in North America, Asia, South America, and Europe. The company has subsidiaries such as International Paint (U.K.); Mapaero SAS (France); J.P. Mcdougall & Co. Ltd. (U.K.); Akzo Nobel Argentina S.A. (Argentina); Tintas Coral Ltda. (Brazil); among others.
- In March 2022, AkzoNobel N.V. set up its new global research and development center at its Slough site in the U.K. This will add to a growing list of similar facilities located in countries around the world, which intensify their research operations collectively.
BASF SE
BASF SE is headquartered in Ludwigshafen, Germany, as public ownership and was founded in 1865. The company is engaged in various business strategies to adapt to the needs of individual industries and markets. The company has business segments chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions, out of which surface technologies is a focused segment. The company has broad categories such as agriculture, automotive & transportation, chemicals, coatings solutions, construction, electronics & electric, energy & resources, furniture & wood, home care and i&i cleaning, nutrition, packaging & print, paints & coatings, personal care & hygiene, pharmaceuticals, plastics & rubber, product finder, pulp & paper, textile, leather & footwear out of which coatings solutions is the market focused category. The company has a presence in North America, Europe, Asia-Pacific, Middle East and Africa, South America. The company has subsidiaries such as Wintershall (Germany), BASF Coatings GmbH (Germany), BASF Japan (Japan), Nunhems B.V. (Netherlands), Chemetall GmbH (Germany), amongst others.
In May 2022, BASF SE expanded its Automotive Coatings Application Center at the Coatings Technology Center in Mangalore, India. This center was part of BASF's existing research and development (R&D) facilities for automotive coatings solutions and is equipped with state-of-the-art equipment, such as a high-precision climate-controlled spray booth, electrostatic rotary bell applicators, and an advanced quick connection system for electrostatic applications.
