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Indonesia Automotive Refinish Coatings Market, Detailed Overview, Scope, Trends and Industry Analysis Research Report
The Indonesian automotive refinish coatings market is projected to reach $336.6 million by 2023
The market growth is driven by macroeconomic growth, increasing number of automotive vehicles, and rise in disposable income of individuals in the country. the Indonesian automotive refinish coatings market is classified into basecoats, clearcoats, primers and fillers, and others. Clearcoats constituted the largest revenue share in the market, accounting for more than 45.0% share in 2017. This can be attributed to high-volume demand for these coats generated from the automotive industry for refinishing purposes. Furthermore, addition of a thick clearcoat on automobiles is highly favored due to its ability to offer protection to basecoat and metal body and resist damage caused by fluids and foreign substrates, such as peeling and cracking of paint.
the Indonesian automotive refinish coatings market is categorized into alkyd, acrylic, polyurethane, epoxy, and others. In terms of value, the largest share in the market was held by polyurethane-based coatings in 2017. Polyurethane-based coatings are traditionally favored and offer significant resistance to damage and chipping.
the Indonesian automotive refinish coatings market is classified into solvent-borne, water-borne, and UV-cured coatings. Historically, solvent-borne coatings accounted for the largest market share, owing to the availability of diversified portfolio of solvent-based coatings in the market and climate favorability of these products that encourage the adoption of these products over their counterparts.
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the Indonesian automotive refinish coatings market is categorized into vehicles aged less than 5 years, 5–10 years, and more than 10 years. In 2017, the highest revenue in the market was estimated to be generated by the category of vehicles aged in the less than 5 years category. Vehicles in this category require refinishing during their resale or to mollify effects of damage or collision.
The market players operating in the Indonesian refinish coatings market are BASF SE, Akzo Nobel N.V., Kansai Paint Co. Ltd., The Lubrizol Corporation, PPG Industries Inc., The Sherwin-Williams Company, PT. Hartwell Paint Indonesia, PT. Danapaint Indonesia, Alps Coating Sdn. Bhd., PT. Anugerah Berkat Cahayaabadi, PT. Victorindo Pratama Mandiri, PT PABRIK CAT DAN TINTA PACIFIC PAINT, KCC Corporation, and PT. NP Auto Refinishes Indonesia.
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