According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on India Automotive Paints and Coatings Market - Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.
India Automotive Paints and Coatings Market Analysis and Size
The India Automotive Paints and Coatings Market is estimated to grow at a CAGR of around 8.2% during the forecast period, i.e., (2024-30).
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Some of the major players operating in the India Automotive Paints and Coatings Market are Asian Paints Limited, Berger Paints India Limited, Kansai Nerolac Paints Ltd, AkzoNobel India Ltd, Jenson & Nicholson Paints Private Limited, Nippon Paint (India) Private Limited, and others.
India Automotive Paints and Coatings Market Growth Driver:
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:
- In 2023, MG launched its new EV in the Indian market by the name Comet EV.
Furthermore, functional coatings are applied to different vehicle components to provide benefits such as corrosion resistance, heat insulation, scratch resistance, and self-cleaning properties. Hence, owing to the beneficial aspects of the Automotive Paints and Coatings Market in India is destined to uplift.
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Market Segment and Geographical Analysis
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
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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