MarkNtel Advisors – Leading Market Research Company found India Automotive Paints and Coatings Market is expected to reach 8.2% CAGR Growth By 2030.
This report provides a comprehensive analysis of the India Automotive Paints and Coatings Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.
Comprehensive Analysis of the India Automotive Paints and Coatings Market
Base Year: 2023
Forecast Years: 2024-2030
Historical Years: 2019-2022
If you’re interested in the assumptions considered in this study, you can download the PDF brochure- – https://www.marknteladvisors.com/query/request-sample/india-automotive-paints-coatings-market.html
Scope of the India Automotive Paints and Coatings Market Report:
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). The industry has been witnessing robust growth owing to factors such as growing disposable income, changing consumer preferences, the establishment of dynamic manufacturing capabilities, etc., in turn, supporting the development of automotive paints & coatings demand in the country. India being a global hub for automobile manufacturing, has attracted major market players to establish their production units in the country. Companies such as Tata Motors, Mahindra & Mahindra, Maruti Suzuki, Hyundai, Toyota, and Volkswagen are actively expanding their manufacturing capacities in India, which paved the way for the growth of paints & coatings across the country. For instance.
Which prominent factor is expected to drive the India Automotive Paints and Coatings Market during 2024-30?
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.
What are the different Segment Available in the India Automotive Paints and Coatings Market?
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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Leading India Automotive Paints and Coatings companies operating in the Market
- 1. Asian Paints Limited
- 2. Berger Paints India Limited
- 3. Kansai Nerolac Paints Ltd
- 4. AkzoNobel India Ltd
- 5. BASF India Limited.
- 6. Jenson & Nicholson Paints Private Limited
- 7. Nippon Paint (India) Private Limited
- 8. Sheenlac Noroo Coatings India Private Limited
- 9. Esdee Paints Ltd
- 10. Taralac
- 11. Others.
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