In-Depth Analysis of the India Automotive Paints and Coatings Market: 2024-2030 Forecasts
MarkNtel Advisors has recently released an in-depth study on the India Automotive Paints and Coatings Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.
How big is the Keyword Industry?
The India Automotive Paints and Coatings Market size is projected to grow at a CAGR of around 8.2% during the forecast period, i.e., 2024-30.
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Who are the top players in the India Automotive Paints and Coatings Market?
- Asian Paints Limited
- Berger Paints India Limited
- Kansai Nerolac Paints Ltd
- AkzoNobel India Ltd
- Jenson & Nicholson Paints Private Limited
- Nippon Paint (India) Private Limited
- others
India Automotive Paints and Coatings Market Segmentation:
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
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Regional/ Countries Insight:
- North
- South
- East
- West
What are the primary market drivers influencing the growth of India Automotive Paints and Coatings Market?
India Automotive Paints and Coatings Market 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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Gain a Competitive Edge with Market Research Report
- The India Automotive Paints and Coatings Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
- Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
- The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
- Apart from market trends and projections, the India Automotive Paints and Coatings Market Report assists in assessing and mitigating risks associated with entering or operating in the market
- By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.
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