Zion Market Research Global Automotive Paints Market, 2016 – 2022 | Page 3

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Automotive paints market has been segmented on the basis of vehicle type, coat type,
technology, texture, and region. On the basis of technology, segment market is
classified into solvent, waterborne, and powder coating. In 2016, Solvent borne
coatings dominated the market and accounting for around 43% of the total volume.
Solvent borne technology is expected to sluggishly grow owing to stringent regulations
on VOC emissions, particularly in the developed regions. On the basis of coat types, the
market is further divided into base coat, clear coat, a primer coat and electro coat. The
texture type segment is classified into solid texture and metallic texture.
Asia Pacific dominated the automotive paints market and accounted for around 50%
share of the global automotive paints market in 2016. The growth in this region is
mainly attributed to increasing demand for automobiles, rising per capita income and
purchasing power of consumers. India and China were the largest revenue contributors
in this region. Major automotive OEMs in India such as Bajaj Auto, Mahindra &
Mahindra, Ashok Leyland, Hero Moto Corporation, Maruti Suzuki, and General Motors
among others are expected to expand their production capacities and set up new
vehicle manufacturing facilities in India in the near future. This in turn expected to fuel
the automotive paint market in the region. In Addition, a number of overseas
automobile manufacturers have been concentrating in this region to cater the market
demands.