New Product Launches And Mergers To Raise Stakes For Automotive Paint Additive Players

Automotive paint additives have become more essential than before to ensure safety and durability of automotive surfaces. Market players have adopted various strategies such as mergers and launches of new products to ensure complex issues of customers are solved and innovative solutions are offered to cater to their needs. Merger is a strategy adopted by market players to ensure business continuity, seamless service, and expansion into new regions. This strategy would support the vision of companies to expand into different regions and raise their stakes in the market. In addition, the launch of new products is another major strategy that involves the introduction of innovative solutions and environment-friendly additives. With the launch, market players aim to offer high-quality and sustainable products. The demand for innovative automotive paint additives would increase in the next few years. According to the report published by Allied Market Research, the automotive paint additives market is expected to generate $5.63 billion by 2026. Following are some of the activities taking place across the world.

Market players have adopted various strategies to expand into new markets and gain a strong foothold. Nippon Paint Holdings Co., Ltd. (NPHD) merged its U.S. automotive businesses. NB Coatings, Inc., NPA Coatings Inc., and NPAA Chattanooga merged into a single company named Nippon Paint Automotive Americas, Inc. This merger is expected to provide seamless solution for electrocoat, pretreatment, body paint, and paint-on-plastic product offerings. Tetsuro Fujita, the President and CEO of Nippon Paint USA, outlined that this merger would offer significant benefits to its customers along with offering business continuity to its business relationships. This merger is another step in its expansion plans into the North American region. The company would invest in its plants and customer-driven technological innovation for creating new products and services

Launching new products is another strategy adopted by market players to gain more stakes in the market than before and offer innovative products that cater to needs to automotive players. Advanced Polymer, Inc., launched APS-342, a silicone resin/silane oligomer emulsion for automotive and marine applications. It is a waterborne reactive emulsion that provides protection, enhancement, and hydrophobicity to aftermarket automotive care formulations. It is mostly utilized in paint sealants and others and offers high slick surfaces once dried after application.

Riding on the trend of new products, Nouryon launched an environmentally friendly antimicrobial agent Arquad GS. This has been launched to enable the formulation of tintable and robust anti-viral paint. This product has been launched into the Asia-Pacific region and the company plans to expand its offerings into new regions. With an increase in concerns regarding safety, germ prevention, and surface cleanliness, the launch of such antimicrobial agents that can be added to paints become essential. Geert Hofman, the VP for Construction Specialties at Nouryon, highlighted that the company’s innovative product is focused on overcoming complex challenges of customers and address demands of the emerging markets. In addition, this product would help in development of anti-viral and anti-microbial coating that can provide sustainability and premium attributes. The anti-viral characteristics would deactivate viruses that contaminate surface of the paint’s film. In addition, this offers environment friendly characteristics for formulating high-quality and low-VOC paints.

 

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