Pune, India -- (SBWire) -- 01/14/2020 --The latest report pertaining to Automotive coatings Market' provides a detailed analysis regarding market size, revenue estimations and growth rate of the industry. In addition, the report illustrates the major obstacles and newest growth strategies adopted by leading manufacturers who are a part of the competitive landscape of this market.
Axalta Coating Systems
Axalta Coating Systems was founded in 1866 and headquartered in Philadelphia, U.S. The company has over 12,800 employees, with its presence across 130 countries and is engaged in manufacturing, development and sales of powder and liquid coatings. Products and services include paint, application technologies, color matching tools and customer support, training and business management systems. The company provides coatings for light vehicle OEMs & commercial vehicles, performance coatings for refinish & aftermarket applications and industrial applications and decorative coatings for residential and commercial applications. The company has 35 manufacturing plants globally, 7 research & development centers, and over 1,800 patents.
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Axalta Coating Systems Development and Strategic Planning and Growth:
- In April 2015, Axalta Coating Systems began the construction of its new R&D technology center in Shanghai so as to develop new products for global commercial vehicle, light vehicle OEM, refinish and industrial customers
- In March 2015, Axalta Coating Systems opened a new waterborne coatings plant in Shanghai in order to meet demand for growing automotive industry in China
- In January 2015, Axalta Coating Systems and Shanghai Kinlita Chemical signed a joint venture to provide coatings mainly to commercial truck market in China
- In October 2014, Axalta renewed its partnership with the Yongjia Group under a new name, Axalta Huajia Coatings, so as to serve growing coatings demand in China
BASF
BASF was established in 1865 and is headquartered in Ludwigshafen, Germany. The company has a wide product portfolio ranging from chemicals, performance products, plastics, crop protection products, coating systems, nutrition, pulp & paper and oil & gas. BASF operates across various locations including Germany, U.S., Belgium, Brazil, Canada, Chile, Netherlands, Norway, Poland, Portugal, Korea, Japan, India, Malaysia, UAE, South Africa and China. Various business segment of the company includes chemicals, agricultural solutions, performance products, functional materials & solutions and oil & gas. As of 2015, the company employs over 113,000 employees working all over the world. The company has 390 manufacturing sites and 1300 patents. BASF's chemical division manufactures develops and markets wide range of automotive OEM coatings, decorative coatings, and industrial coatings and automotive refinishes. BASF's range of additives and solvents provides process ability, performance properties in waterborne coating methods and enhances shelf-life stability.
BASF Development and Strategic Planning and Growth:
- In June 2016, BASF started a new automotive plant in Shanghai in order to invest in the local production and expansion of solutions in Chinese automotive industry
- In June 2016, BASF expanded the new automotive coating production in Thailand in order to serve the ASEAN market
- In June 2016, BASF acquired Chemetall to boost the industrial coating business in order to increase the focus on automotive applications
- In April 2015, BASF's "Mid-night Glimmer" coating was used in the Chevrolet FNR concept car which was launched at the Shanghai GM Gala Night
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PPG Industries
PPG Industries was founded in 1883, and is headquartered in the U.S. As of 2015, the company has 46,100 employees and over 150 manufacturing sites spread across 60 countries including the U.S., Canada, India, China, Indonesia, Japan, Belgium, Bulgaria, France, Germany, Argentina and Brazil. It supplies coatings, paints, specialty materials, optical products, fiber glass and glass. The company assists various customers in transportation, industrial, construction and consumer products sectors.
The company has two key segments which include paints & coatings and glass & fiber glass. PPG Industries coatings business segment includes automotive coatings OEM, automotive refinishes, industrial coatings, specialty coatings, aerospace, architectural coatings, protective &marine coatings and packaging coatings. The company offers decorative, woodcare and specialty coatings to commercial and residential sector. In North America, PPG has 14 manufacturing plants, 23 distribution centers and over 900 company-owned stores.
PPG Industries Development and Strategic Planning and Growth:
- In June 2016, PPG Industries acquired Metekote Corporation providing exceptional coating services to the consumers
- In June 2016, PPG Industries expanded the coating facility in China in order to achieve competitive position in the market
- In December 2015, PPG Industries in collaboration with Asian Paints introduced product line of environment base high performance water borne automotive refinish paint in Sri Lanka in order to expand the customer base
Kansai Paint
Kansai Paint Co., Ltd. is a Japanese company founded in 1918 and headquartered at Osaka. The company deals with automotive, decorative and industrial coatings, under the brand name ALESCO. The company also provides protective coatings, marine coatings and residential coatings. The company has over 12,000 employees spread over 43 countries across the world. Kansai Nerolac Paints is a subsidiary of Kansai Paint founded in 1920 headquartered in Mumbai, India. The company is engaged into automotive, industrial and powder coating business. The subsidiary has over 2,000 employees The company has a global presence in various countries including the UK, Turkey, Russia, the U.S., Canada, Mexico, China, Singapore, Vietnam, Taiwan, Malaysia, Korea, India, the UAE, and Myanmar. The Construction World Magazine awarded Kansai Nerolac Paints as best managed company.
PPG Industries Development and Strategic Planning and Growth:
- In May 2015, Kansai Nerolac Paints announced it will invest Rs.350 crores to set up a new plant near Bharuch, Gujarat in India
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Nippon Paint, Bayer AG , KCC Corporation, Valspar Corporation , AkzoNobel N.V , Sherwin-Williams , Berger Paints , Cabot Corporation, Clariant , NOROO Paint and coatings, Kapci Coatings, The Dow Chemical Company and many other companies.
Asia Pacific was the largest market with 56.5% of the volume share in 2015 and the trend is expected to continue on account of increasing vehicle manufacturing in the region. The automotive sector of Asia Pacific is driven by rising sales and production in countries including China, Japan, India, South Korea, and Thailand.
China is expected to foresee strong growth owing to its large automobile production base. China was the largest producer of automobiles and is likely to remain the leading manufacturer on account of economic labor in the country. Moreover, the relocation of manufacturing bases by companies such as Volkswagen, Audi, Honda, Nissan, Toyota, Hyundai, Skoda, and Fiat to China owing to the availability of affordable workforce is anticipated to drive the market demand.
Europe is expected to witness steady growth over the upcoming years on account of increasing vehicle manufacturing in countries including Germany, Sweden, Italy, France, the UK, and the Czech Republic. In addition, growing population coupled with rising income levels is likely to stimulate the demand over the forecast period.
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Automotive Coatings Manufacturers vs Automotive Coating Market 2019: Players - Axalta Coating Systems, BASF , PPG Industries , Kansai Paint , Nippon Paint, Bayer AG
Global Automotive Coating Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Global Automotive Coating Market place for the forecast 2019– 2025.