Portland, OR, Nov. 30, 2020 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global automotive paint additives market was pegged at $3.29 billion in 2018, and is expected to reach $5.63 billion by 2026, growing at a CAGR of 7.0% from 2019 to 2026. The report offers a detailed analysis of the drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
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Rise in automobile production, increase in demand for eco-friendly products, and innovative automotive paints additives have propelled the growth of the global automotive paint additives market. However, rise in prices of raw materials impedes the market growth. On the contrary, production of eco-friendly and cost-effective automotive paints additives are expected to offer multiple opportunities in the near future.
The global automotive paint additives market is segmented into type, application, vehicle type, and region. By type, the market is divided into blending solvents, flow enhancers, fisheye eliminator, and others. The fisheye eliminator segment dominated the market in 2018, accounted for nearly two-fifths of the total market share. On the other hand, the flow enhancers segment is anticipated to portray the fastest CAGR of 8.7% from 2019 to 2026.
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Based on application, the market is categorized into automotive decorative paint, automotive antirust paint, automotive fire-retardant paint, and others. The automotive decorative paint segment dominated the global market in 2018, accounting for more than one-third of the market. The segment would maintain its dominant position throughout the forecast period. On the other hand, the automotive fire-retardant paint segment is anticipated to register the highest CAGR of 7.5% during the forecast period.
Region-wise, the market is analyzed across Asia-Pacific, North-America, Europe, and LAMEA. The market across North America held the largest share in 2018, accounting for more than one-third of the market. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 8.4% in between 2019 to 2026. The market also offers an in-depth study of regions including LAMEA and Europe.
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Major market players in the automotive paint additives market report include PPG, Akzo Nobel N.V, BASF SE, Eastman Chemical Company, LLC, Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., DuPont, Clariant, Solvay, The Sherwin-Williams, and others holds major share of automotive paint additives market.
Similar Reports We Have on Automotive Paints, Additives, Coatings:
Paints and Coatings Market: Some of the main market players operating in the global paints and coatings market are BASF SE, Akzonobel N.V., PPG Industries, RPM International Inc., The Sherwin-Williams Company, The Valspar Corporation, Axalta Coating Systems LLC, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd., Tikkurila OYJ, and Berger Paints India Ltd.
Automotive OEM Coatings Market: The other players in the automotive OEM coatings market value chain (profiles not included in the report) include Beckers Group, Cabot