The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm),India Automotive Paints and CoatingsMarket comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape. The research company provides an extensive range of strategic reports on diverse industry verticals to substantial and varied client bases, including multinational corporations, financial institutions, governments, and individuals, among others.
India Automotive Paints and Coatings Industry Analytical Overview (2024-2030): Drivers, Opportunities, Challenges, and Trends,
According to the latest report,India Automotive Paints and Coatings Marketis estimated to grow at a CAGR of around 8.2% during the forecast period, i.e., (2024-30). The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, geography, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2024 to 2030.
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What is Included in India Automotive Paints and Coatings MarketSegmentation?
The report has segmented the market into the following categories:
By Resin Type
– Polyurethane- Market Size & Forecast 2019-2030, Thousand Tons
– Epoxy- Market Size & Forecast 2019-2030, Thousand Tons
– Acrylic- Market Size & Forecast 2019-2030, Thousand Tons
– Alkyd- Market Size & Forecast 2019-2030, Thousand Tons
– Polyester- Market Size & Forecast 2019-2030, Thousand Tons
– Others (Fluoropolymers, Vinyl, etc.)- Market Size & Forecast 2019-2030, Thousand Tons
Polyurethane (PU) is becoming a prominent player in the India Automotive Paints & Coating Market due to increasing demand. PU-based paints & coatings are known for their exceptional durability, making them an ideal choice for the challenging Indian automotive environment. Vehicles are subject to harsh conditions in India’s varied climate, which diverges from blazing summers to heavy rains. Thus, to ensure the durability of the vehicle’s finish for an extended period, polyurethane-based paints & coatings are prominently used by the manufacturers.
By Composition
– Water-based- Market Size & Forecast 2019-2030, Thousand Tons
– Solvent-based- Market Size & Forecast 2019-2030, Thousand Tons
– Powder-based- Market Size & Forecast 2019-2030, Thousand Tons
By Coating type
– E-coat- Market Size & Forecast 2019-2030, Thousand Tons
– Primer- Market Size & Forecast 2019-2030, Thousand Tons
– Basecoat- Market Size & Forecast 2019-2030, Thousand Tons
– Clearcoat- Market Size & Forecast 2019-2030, Thousand Tons
By Vehicle type
– Two-wheelers- Market Size & Forecast 2019-2030, Thousand Tons
– Passenger Cars- Market Size & Forecast 2019-2030, Thousand Tons
– Medium & Heavy Commercial Vehicles- Market Size & Forecast 2019-2030, Thousand Tons
– Light Commercial Vehicles- Market Size & Forecast 2019-2030, Thousand Tons
– By Application
– OEM- Market Size & Forecast 2019-2030, Thousand Tons
– Refinish- Market Size & Forecast 2019-2030, Thousand Tons
By Region
– North
– South
– East
– West
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Key Factor Driver India Automotive Paints and Coatings Industry Growth by 2030
Growing Demand for Functional Coatings to Promote Automotive Paints and Coatings Market– The Indian Automotive Paints & Coatings Industry has evolved significantly, with a marked change in consumers’ preferences & requirements within the sector. The growth in demand for functional coatings is at the forefront of trends that have transformed this industry in recent years. Functional coatings are specialized formulations designed not just to beautify surfaces but also to enhance their performance & durability. These coatings are particularly important in electric vehicles, where thermal management varnishes help to regulate the temperature of batteries so that they will last longer & perform better. For instance:
Who are the Key Players Operating in the India Automotive Paints and CoatingsIndustry?
The top companies of the India Automotive Paints and Coatings market ruling the industry are:
- Asian Paints Limited
- Berger Paints India Limited
- Kansai Nerolac Paints Ltd
- AkzoNobel India Ltd
- BASF India Limited.
- Jenson & Nicholson Paints Private Limited
- Nippon Paint (India) Private Limited
- Sheenlac Noroo Coatings India Private Limited
- Esdee Paints Ltd
- Taralac
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FAQs (Frequently Ask Questions)
- What are the industry’s overall statistics or estimates including CARG and USD Value of the forecasting years?
- What are the trends influencing the current scenario of the India Automotive Paints and Coatings Market?
- What are the key factors that would propel and hinder the industry?
- Which geographical area dominates the India Automotive Paints and Coatings industry?
- Which is the Leading segment in the market?
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