Automotive Paints Market: Oppportunities and Challenges

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Automotive Paints Market: Oppportunities and Challenges

Automotive Paints Market: Oppportunities and Challenges

Automotive Paints Market
Automotive Paints Market by Type (E-coat, Primer, Basecoat, Clearcoat), Resin (PU, Epoxy, Acrylic), Technology (Solvent, Water, Powder), Paint Equipment (Airless, Electrostatic), Texture, Content, ICE & EVs, Refinish, and Region – Global Forecast to 2025

The Global Automotive Paints Market is estimated to be USD 8.46 Billion in 2017 and is projected to reach USD 10.65 Billion by 2025, at a CAGR of 2.88%, during the forecast period.

Innovative paint technologies to create opportunities for manufacturers in the automotive paints market

The traditional OEM coating process includes a number of steps from pre-treatment to clearcoat application. These processes consume a massive amount of energy and time and generate bio-hazardous wastes. Due to these drawbacks, these processes are not only costly but also do not comply with environmental regulations. To deal with these issues, paint manufacturers are developing innovative paint products. For instance, Nissan has developed a new car paint that glows in the dark. It is a unique paint that absorbs UV energy during daylight to provide a shine at night. PPG launched its B1:B2 (wet-on-wet) compact process that eliminates the intermediate requirement of a baking or a heated dehydration process, which will help OEMs save production costs. The B1 layer provides the functionalities of primer, filling, chip, and durability, whereas the B2 layer provides color and additional durability. In 2014, Nissan unveiled its nano-paint technology known as the Ultra-Ever Dry technology. It works on the principle of creating a protective layer of air between the paint and the environment that effectively stops standing water and road spray from creating mud marks on the car’s surface. This is a “super-hydrophobic” and “oleophobic” paint that repels water and oils.

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Stringent paint emission regulations and norms and need to reduce costs of automotive paints have compelled paint manufacturers and OEMs to develop advanced and innovative paint products, which in turn will drive the market for automotive paints in the near future. For instance, Axalta Coatings Systems LLC provides the 2-Wet Monocoat system and 3-Wet system for liquid coatings on vehicles. In 2-Wet Monocoat systems, coating applications are reduced from three to two, and the number of drying steps is reduced from two to one. This process helps to increase productivity and reduces energy use. Axalta’s 3-Wet system uses a specially formulated primer for light vehicle OEMs, which reduces the number of bake cycles. This innovation helps light vehicle manufacturers to replace larger baking ovens with smaller, lower energy flash zones, thereby resulting in reduced energy-related operating costs, reduced capital expenditures, and a smaller operating footprint. PPG introduced a Hyper Throw electrocoat primer that reduces outside film builds and energy consumption & losses. BASF’s new process called “integrated coating” reduces the primer surface layer as the functionality of two coats is integrated into one functional layer.

In addition to the aforementioned methods or products, paint manufacturers are introducing new technologies such as UV-curing coatings, powder coatings, scratch wear resistance clearcoats, and self-cleaning paints using super-hydrophobic or super-hydrophilic surfaces. The recent addition is a smart coating introduced by NASA Corrosion Technology Laboratory, which is rust and corrosion resistant and is known as “self-healing” coats.

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These upcoming paint technologies have created several opportunities for the players in the automotive paint market to expand their product portfolio and differentiate themselves from the competition. However, the development of advanced paints requires a huge investment in R&D. As a result, paint manufacturers can charge OEMs an extra premium for such paints, which gives them an opportunity to generate higher revenues through these advanced paint formulations.

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