(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases report titled
“Automotive Paints Additives Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032, ” The study provides a detailed analysis of the industry, including the
global automotive paints additives market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the automotive paints additives market ?
The global automotive paints additives market size reached US$ 4.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.66% during 2024-2032.
What are
Automotive Paints Additives?
The market for additives in automotive paints encompasses the sector engaged in manufacturing, delivering, and applying additives intended for use in automotive paints and coatings. These additives are specialized chemicals integrated into paint formulations to boost their overall performance, longevity, aesthetic appeal, and ease of application. Their role is to enhance several key attributes of automotive paints, such as preserving color, achieving a glossy finish, bolstering resistance to scratches, providing ultraviolet (UV) protection, and guarding against corrosion. Moreover, these additives play a crucial role in fulfilling the exacting standards of the automotive industry, ensuring that vehicle finishes are of high quality and long-lasting. Currently, automotive paints find extensive use in both passenger cars and commercial vehicles worldwide.
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What are the growth prospects and trends in the automotive paints additives industry?
The automotive paint additives market experiences significant growth due to several key factors. Firstly, there is a rising demand for automotive finishes that are not only high in quality but also visually appealing. Automotive paint additives play a crucial role in achieving this by ensuring that vehicles maintain their appearance over time and boast vibrant colors, excellent gloss levels, and a flawless finish. Furthermore, the expansion of the automotive industry, rapid urbanization, increasing population, and the growing demand for automotive paints and coatings all contribute to the market's expansion. Additives are essential components in enhancing the performance and durability of these coatings, enabling vehicles to endure harsh conditions like extreme temperatures, UV exposure, and chemical exposure. In addition to this, continuous technological advancements and numerous innovations are focused on improving properties such as scratch resistance, anti-corrosion capabilities, and compatibility with the latest paint systems. These innovations are major drivers of market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Type:
Fisheye Eliminator Blending Solvents Flow Enhancers Others
Market Breakup by Vehicle Type:
Passenger Cars Commercial Vehicles
Market Breakup by Application:
Automotive Decorative Paint Automotive Antirust Paint Automotive Fire-retardant Paint Others
Market Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
BASF SE Clariant AG Dupont De Nemours Inc. Eastman Chemical Company PPG Industries Inc. Sherwin-Williams Company Solvay S.A
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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