Automotive Refinish Coatings Market Size, Opportunities, Key Growth Factors, Revenue Analysis, For 2020–2027

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The changing lifestyle and buying behaviour of people, a rise in disposable income, and the growing demand for luxury vehicles are some the factors influencing the market growth.

The Global Automotive Refinish Coatings Market is expected to reach USD 11.69 Billion by 2027, according to a new report by Emergen Research. The market for automotive refinish is growing due to the rise in disposable income, change in lifestyle and buying behaviour of the consumers, and the growing demand for luxury vehicles.

Automotive refinish coatings are used by market players to address the growing need for maintenance of the vehicle, up-to-date servicing to improve the durability and look of the vehicles by protecting them from any supposed damages and UV radiation. Constant investment in RD and innovation in refinish coatings, such as eco-friendly high-tech coating materials, which is another driving factor of the market.

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Leading companies profiled in the report are:

The Sherwin Williams Company, PPG Industries Inc., Axalta Coating Systems Ltd., BASF SE, AkzoNobel N.V, Kansai Paints Co. Ltd., Matrix System Automotive Finishes, Nippon Paint Holding Co. Ltd., Mitsui Chemicals, and Berger Paints India Ltd., among others.

Market Segmentation

Emergen Research has segmented the Global Automotive Refinish Coatings Market on the basis of resin product, type, technology, application, substrate, and region:

Resin Type Outlook (Revenue, USD Billion; 2017-2027)

Epoxy

Alkyd

Polyurethane

Others

Product Outlook (Revenue, USD Billion; 2017-2027)

Primer

Basecoat

Clearcoat

Activator

Filler

Putty

Technology Outlook (Revenue, USD Billion; 2017-2027)

Solvent-borne Coatings

Water-borne Coatings

UV-cured Coatings

Substrate Outlook (Revenue, USD Billion; 2017-2027)

Glass

Metal

Plastic

Other

Application Outlook (Revenue, USD Billion; 2017-2027)

Commercial vehicles

Light Commercial Vehicle (LCV)

Heavy Commercial Vehicle (HCV)

Passenger vehicles

Compact

Executive

Luxury

Two-Wheeler

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Some Key Highlights from the Report

Clear coats, offer protection to the paint on vehicles from sun, dust, or water, hold the largest share of the market in 2019. The segment is expected to have a growth rate of 3.9% during the forecast period.

Metal substrates held the largest share in 2019 and are expected to lead the segment throughout the forecast period with a significant CAGR since metal surfaces are prone to suffer from corrosion.

The passenger vehicles segment dominated the market with 40.3% of the share in 2019, in terms of revenue. The demand is expected to increase because of high disposable incomes, substantially changing buying behaviour, and demand for luxury cars.

The Asia Pacific region, mainly China, Japan, and India, has witnessed the expansion of its automotive industry owing to the high demand for commercial and passenger vehicles, increased population and congestion, which, in turn, has led to the growth of the market in the region.

Key Coverage of the Automotive Refinish Coatings Market:

Insightful information regarding the global Automotive Refinish Coatings market

Identification of growth in various segments and sub-segments of the Automotive Refinish Coatings market

Strategic recommendations for investment opportunities

The report covers significant statistics related to the industry along with products, applications, price analysis, demand supply, and production and consumptions rate

Emerging trends and current market segment analysis to help investors formulate new business strategies

Accelerates the decision-making process through the availability of the drivers and limitations

Regional Segmentation

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In conclusion, the report provides a qualitative and quantitative analysis of the Global Automotive Refinish Coatings market including the global and regional analysis of the market. The study covers critical information and factual data about the Automotive Refinish Coatings market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Automotive Refinish Coatings market is expected to fare in the forecast timeline. The report utilizes Automotive Refinish Coatings analytical tools to offer an estimation of the outlook of the global state of the Automotive Refinish Coatings market industry.

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