Asia Pacific is the largest market for automotive paint attributed to recent development in automotive OEM market in China, India and Japan. According to Organisation Internationale des Constructeurs d’Automobiles (OICA), 3,138,988 units of passenger cars and 741,950 units of commercial vehicle were manufactured by India and 18,085,213 units of passenger cars and 4,031,612 unit commercial vehicles were manufactured in China in the year 2013. Europe is the second largest market for automotive paint. Germany, Italy and France are leading vehicle producing countries in Europe. Europe is followed North America, where the U.S. accounts for the largest market.
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Rising middle class, improve living standards, changing buyers preferences, growing economy and increasing demand of luxurious vehicle are some of the dominant drivers for automotive paint in Asia Pacific region. Whereas the governmental norms against volatile organic compound (VOC) automotive paint in Europe and North America is expected to boost the Low VOCs automotive paint market in these regions.
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Some of the major players operating in the automotive paint market include AkzoNobel NV, Arkema SA, Axalta Coating Systems LLC, BASF SE, Bayer AG, Beckers Group, Berger Paints India Limited, Cabot Corporation, Clariant International Ltd., Deft Incorporated, Eastman Chemical Company, Jotun, KCC Corporation, Kansai Paint Co Ltd, Lord Corporation, NIPPONPAINT Co., Ltd, PPG Asian Paints Private Limited, PPG Industries Inc, Koninklijke DSM N.V, Sherwin-Williams Company, Solvay Group of Companies and Valspar Corporation
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Key points covered in the report
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- North America
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