Passenger cars application expected to drive the e-coat market in Asia-Pacific
Passenger car is the most popular and the fastest-growing segment in the automobile industry. China, Japan, South Korea, and India are the major manufacturing hubs of passenger cars. The main Asian market for passenger cars includes China, Japan, South Korea, and India. Leading car manufacturers such as General Motors, Nissan, Peugeot, and Volkswagen have joint ventures with Chinese car manufacturers. The application of metallic paints has increased in passenger cars, as they provide sparkling and glossy effect, due to which there is high demand among customers.
Cathodic Epoxy: The most dominant segment of the Asia-Pacific e-coat market
In 2016, the cathodic epoxy segment is estimated to account for the largest market share, in terms of value. Cathodic epoxy e-coat is the benchmark product used to provide corrosion resistance. It is widely used in the automotive industry, as it provides superior salt spray, and resistance to humidity and cyclic corrosion. However, cathodic epoxy technology generally requires a topcoat to get protected from sunlight. It can be formulated to provide protection over sharp edges and welds without removing or exposing the metal underneath. As these coatings exhibit excellent throwpower, it makes them a great choice for complex ware packages or parts with cavities or hidden areas that need coating.
India to register the highest growth rate in Asia-Pacific e-coat market
The Indian automotive industry is witnessing a phase of rapid transformation and growth, mainly driven by stable economic growth and infrastructure development. The Indian automotive industry has emerged as the seventh largest in the world, and the auto components industry is gearing up to compliment the vehicle industry’s growth. Global automotive companies have projected India as a global sourcing hub due to its rapidly increasing demand. In India, healthy economic growth, changing consumer preferences, improvement in the standard of living and increased spending on infrastructures in automotive and electronics segments are expected to drive the e-coat market in the country.
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Key market players in the e-coat market in Asia-Pacific
The key players in this market are Axalta Coating Systems (U.S.), PPG Industries, Inc. (U.S.), BASF SE (Germany), Nippon Paint Holdings Co., Ltd. (Japan), Valspar Corporation (U.S.), Tatung Fine Chemicals Co., Ltd. (Taiwan), KCC Corporation (Korea), Luvata Oy (Finland), Hawking Electrotechnology Ltd. (U.K.), NOROO Paint & Coatings Co., Ltd. (South Korea), and others.
Scope of the report
This report covers the Asia-Pacific e-coat market by important countries in the region. It also provides a detailed segmentation of the market based on type and application. The e-coat market in Asia-Pacific is segmented on the basis of type as cathodic epoxy, cathodic acrylic, and anodic and on the basis of application as passenger cars, commercial vehicles, automotive parts & accessories, heavy duty equipment, appliances, and others. The segmentation on the basis of country includes China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Vietnam, Singapore, and other Asia-Pacific countries.
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