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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