Quick Summary:
Delve into the lucrative growth prospects offered by the global automotive refinish coatings market with this extensive report. Serving as a vital tool in the after-market care of automobiles, automotive refinish coatings are increasingly in demand due to their ability to amend damages caused by extreme conditions and impacts. The report comprehensively analyses a diverse array of coatings such as filler, primer, topcoat, basecoat and activator coatings along with their respective properties and applications.
Elevating the market's appeal is the rising trend of luxury vehicle purchases driven by rapid urbanization and improved income levels. This growth, coupled with the demand for maintaining the aesthetically pleasing appearance of vehicles, has catalyzed the need for automotive refinish coatings. In response, key market players are launching environmentally friendly, low VOC emission products that meet consumer requirements. Further driving this global interest is the growing consumer awareness regarding vehicle maintenance and governmental initiatives. Unlock the potential of this market with a detailed understanding of its key trends and the opportunities it presents.
Automotive refinish coatings are utilized on after-market automobiles, motorcycles, bicycles, trucks, and vans. They are used on new/old passenger and commercial vehicles to cover up damages on the body, which are caused by extreme temperatures, accidents and impacts from stones.Some of the commonly available refinish coatings are filler, primer, topcoat, basecoat and activator or hardener coatings. They are either solvent-borne, water-borne or ultraviolet (UV) cured. Amongst these, water-borne coatings have lower levels of volatile organic compounds (VOCs) than solvent-borne variants, which makes them highly effective for all automobiles.
Automotive Refinish Coatings Market Trends:
The increasing requirement for recreational and repair and maintenance activities of vehicles, along with the rising fatal road accidents, represents one ofthe major factors positively influencing the demand for automotive refinish coatings worldwide. In addition, the growing sales of luxury vehicles on account of rapid urbanization and improving income levels is catalyzing the demand for automotive refinish coatings to maintain the aesthetic appearance of vehicles. Apart from this, key players are introducing environment-friendly refinish coatings manufactured using organic chemicals and offering customization colors and printing to enhance the experience of the consumer. Besides this, the increasing consciousness among the masses about vehicle maintenance is resulting in the rising adoption of automotive refinish coatings around the world. Furthermore, the growing environmental awareness and several initiatives undertaken by governments of numerous countries are driving the usage of low volatile organic compounds (VOC) emissions. This is offering lucrative growth opportunities to market players operating in the industry.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global automotive refinish coatings market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on resin type, product type, technology, and vehicle type.Breakup by Resin Type:
- Polyurethane
- Alkyd
- Acrylic
- Others
Breakup by Product Type:
- Primer
- Basecoat
- Activator
- Filler
- Topcoat
- Others
Breakup by Technology:
- Solvent-borne
- Water-borne
- UV-cured
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are 3M Co., Akzo Nobel N.V., Axalta Coating Systems, BASF SE, Clariant AG, DuPont de Nemours, Inc., Kansai Paint Co.Ltd., KCC Co., Ltd., Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., and The Sherwin-Williams Company.Key Questions Answered in This Report
1. What was the size of the global automotive refinish coatings market in 2022?2. What is the expected growth rate of the global automotive refinish coatings market during 2023-2028?
3. What has been the impact of COVID-19 on the global automotive refinish coatings market?
4. What are the key factors driving the global automotive refinish coatings market?
5. What is the breakup of the global automotive refinish coatings market based on the resin type?
6. What is the breakup of the global automotive refinish coatings market based on the product type?
7. What is the breakup of the global automotive refinish coatings market based on the technology?
8. What is the breakup of the global automotive refinish coatings market based on the vehicle type?
9. What are the key regions in the global automotive refinish coatings market?
10. Who are the key players/companies in the global automotive refinish coatings market?
What is the estimated value of the Global Automotive Refinish Coatings Market?
What is the growth rate of the Global Automotive Refinish Coatings Market?
What is the forecasted size of the Global Automotive Refinish Coatings Market?
Who are the key companies in the Global Automotive Refinish Coatings Market?
Report Attribute | Details |
---|---|
No. of Pages | 147 |
Published | July 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 10 Billion |
Forecasted Market Value ( USD | $ 13.2 Billion |
Compound Annual Growth Rate | 4.7% |
Regions Covered | Global |
No. of Companies Mentioned | 11 |
Table of Contents
Companies Mentioned
- 3M Company
- Akzo Nobel N.V.
- Axalta Coating Systems Ltd.
- BASF SE
- Clariant AG
- Dupont De Nemours Inc.
- Kansai Paint Co. Ltd.
- KCC Corporation
- Nippon Paint Holdings Co. Ltd.
- PPG Industries Inc.
- The Sherwin-Williams Company
Methodology
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