India Automotive Paints and Coatings Market Overview: Driving Forces Behind Rapid Growth & Expansion

MarkNtel Advisors analyses the growth rate of the India Automotive Paints and Coatings market in the forecast period from 2024 to 2030. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the India Automotive Paints and Coatings market, helping them make informed decisions.

Table of Contents

Market Outlook – 2024-2030:

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.

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Key Company Profiles

This report explores recent significant developments in the India Automotive Paints and Coatings Market, focusing on the leading companies and their innovative profiles. The major players in the India Automotive Paints and Coatings Market, featured in this report, include:

Asian Paints Limited
Berger Paints India Limited
Kansai Nerolac Paints Ltd
AkzoNobel India Ltd
BASF India Limited.
Jenson & Nicholson Paints Private Limited
Nippon Paint (India) Private Limited
Sheenlac Noroo Coatings India Private Limited
Esdee Paints Ltd
Taralac
Others

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Market Segmentation & Coverage

This research report by MarkNtel Advisors categorizes the India Automotive Paints and Coatings Market to forecast revenues and analyse trends across each of the following sub-markets:

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

Polyurethane (PU) is becoming a prominent player in the India Automotive Paints & Coating Market due to increasing demand.

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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What are the primary factors driving the growth of the India Automotive Paints and Coatings market?

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.

Key Questions Addressed:

Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?

About Us:

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