Mine car is red. The lacquer had been just fine, then I pressure washed my car and BINGO, lacquer peeling!
Tough break having it on the bonnet, its the worst possible place, right in view....
If it looks that bad maybe try looking on Ebay for a replacement bonnet? You may get lucky and find a perfect colour match. They are not that expensive either, some go for as little as £20.
My boot lid was in quite poor condition a while back after a neighbours kid put a 2ft scratch on it with handlebars of his bike, I managed to find a complete boot lid for £18 on Fleabay local to myself too.. Repair centre wanted £80 to spray my boot lid, plus I have lots of parts in my garage...