The refinish paint market size has grown steadily in recent years. It will grow from $8.38 billion in 2024 to $8.75 billion in 2025 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to rapid urbanization and industrialization, growing vehicle fleet, environmental regulations, sustainability concerns, increased demand for customization, and increased focus on aesthetics.
The refinish paint market size is expected to see steady growth in the next few years. It will grow to $10.52 billion in 2029 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to a shift to waterborne and high solids coatings, integration of digital technologies, focus on cost-effective solutions, expansion of automotive aftermarket services, and expansion of distribution channels. Major trends in the forecast period include innovations in polyurethane resins, advanced color-matching solutions, UV-cured coatings, mobile apps and software solutions, and smart coatings.
The forecast of 4.7% growth over the next five years reflects a modest reduction of 0.7% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US by increasing auto repair costs, as refinish paints sourced from Germany and the UK face supply constraints, delaying collision repair services. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The growing number of road accidents is expected to drive the expansion of the refinish paint market in the future. Road accidents, also known as traffic collisions or motor vehicle accidents, involve one or more vehicles on public roads, causing harm to people, property, or both. The increasing frequency of accidents can be attributed to factors such as traffic congestion, distracted driving, and impaired driving. Refinish paint is used to restore a vehicle's exterior to its pre-accident condition, ensuring the color and finish match the original. This is crucial for maintaining aesthetic consistency and the vehicle's value. For example, in March 2024, Eurostat, the European Union’s statistical office, reported that in 2022, 20,653 people were killed in road accidents in Europe, marking a 3.7% increase from 19,917 in 2021. As a result, the rising number of accidents is fueling the growth of the refinish paint market.
Key players in the refinish paint market are concentrating on developing solutions leveraging basecoat technology to gain a competitive advantage. Basecoat technology refers to the layer of paint applied after the primer and before the clearcoat in the automotive refinishing process. For example, Axalta Coating Systems Ltd., a US-based paint and coating manufacturing company, introduced CromaxGen in August 2022, a new next-generation basecoat technology for the automotive refinish industry. This innovative product offers precise color formulas, productivity enhancements, and cost optimization to increase productivity and streamline costs for body shops in Latin America.
In November 2023, NP Auto Refinishes Co Ltd., a Singapore-based commercial vehicle (CV) coatings company, acquired D-Act Co. Ltd. for an undisclosed amount. This strategic move aimed to strengthen NP Auto Refinishes' market share and leadership in the Thai automotive refinish and commercial vehicle coatings market. D-Act Co. Ltd. is a Japan-based manufacturer specializing in auto refinishing and industrial paints.
Refinish paint, also referred to as refinishing paint, is a specialized type of paint formulated explicitly for restoring or refreshing the appearance of surfaces previously painted or coated. This type of paint finds extensive use in the automotive industry for repairing and refinishing vehicles following damage or wear, ensuring that the restored areas seamlessly match the original paint color and finish.
The primary product categories of refinish paint include solvent-borne, waterborne, and powder formulations. Solvent-borne refinish paint utilizes organic solvents as carriers for the paint pigment. These paints are available in various coating types such as polyurethane, epoxy, acrylic, among others, with applications including clearcoat, basecoat, primer, and sealer. Refinish paints are employed across various types of vehicles, including passenger cars, light commercial vehicles, buses, and trucks.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The escalating U.S. tariffs and rising trade tensions in spring 2025 are expected to significantly affect the chemicals sector, which is facing a disproportionate impact - particularly from tariffs on petrochemicals and intermediates, where affordable domestic alternatives are limited. Specialty chemical producers, who rely heavily on Chinese raw materials, are encountering production disruptions. Meanwhile, fertilizer manufacturers are seeing their profit margins squeezed due to tariffs on phosphate imports. In response, companies are increasing investments in R&D for bio-based alternatives, forming procurement alliances to strengthen purchasing power, and relocating production to tariff-neutral countries like Saudi Arabia.
The refinish paint market research report is one of a series of new reports that provides refinish paint market statistics, including the refinish paint industry global market size, regional shares, competitors with refinish paint market share, detailed refinish paint market segments, market trends, and opportunities, and any further data you may need to thrive in the refinish paint industry. This refinish paint market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Major companies operating in the refinish paint market are BASF SE, Mitsubishi Chemical Corporation, Sherwin-Williams Company, Evonik Industries AG, Covestro AG, PPG Industries Inc., Arkema S.A., AkzoNobel NV, Nippon Paint Holdings Co Ltd., Wacker Chemie AG, KCC Corporation, Axalta Coating Systems Ltd., Valspar Corporation, Kansai Paint Co Ltd, Jotun Group, Cytec Industries Inc., Berger Paints India Limited, Rust-Oleum Corporation, Hexion Inc., Allnex Group, TOA Group Company Limited, Momentive Performance Materials Inc., Diamond Vogel Paints, Dunn-Edwards Corporation, Hempel A/S.
Asia-Pacific was the largest region in the refinish paint market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the refinish paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the refinish paint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The refinish paint market consists of sales of acrylic ename, basecoat, fillers and putties, and activators and hardeners. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
The refinish paint market size is expected to see steady growth in the next few years. It will grow to $10.52 billion in 2029 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to a shift to waterborne and high solids coatings, integration of digital technologies, focus on cost-effective solutions, expansion of automotive aftermarket services, and expansion of distribution channels. Major trends in the forecast period include innovations in polyurethane resins, advanced color-matching solutions, UV-cured coatings, mobile apps and software solutions, and smart coatings.
The forecast of 4.7% growth over the next five years reflects a modest reduction of 0.7% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US by increasing auto repair costs, as refinish paints sourced from Germany and the UK face supply constraints, delaying collision repair services. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The growing number of road accidents is expected to drive the expansion of the refinish paint market in the future. Road accidents, also known as traffic collisions or motor vehicle accidents, involve one or more vehicles on public roads, causing harm to people, property, or both. The increasing frequency of accidents can be attributed to factors such as traffic congestion, distracted driving, and impaired driving. Refinish paint is used to restore a vehicle's exterior to its pre-accident condition, ensuring the color and finish match the original. This is crucial for maintaining aesthetic consistency and the vehicle's value. For example, in March 2024, Eurostat, the European Union’s statistical office, reported that in 2022, 20,653 people were killed in road accidents in Europe, marking a 3.7% increase from 19,917 in 2021. As a result, the rising number of accidents is fueling the growth of the refinish paint market.
Key players in the refinish paint market are concentrating on developing solutions leveraging basecoat technology to gain a competitive advantage. Basecoat technology refers to the layer of paint applied after the primer and before the clearcoat in the automotive refinishing process. For example, Axalta Coating Systems Ltd., a US-based paint and coating manufacturing company, introduced CromaxGen in August 2022, a new next-generation basecoat technology for the automotive refinish industry. This innovative product offers precise color formulas, productivity enhancements, and cost optimization to increase productivity and streamline costs for body shops in Latin America.
In November 2023, NP Auto Refinishes Co Ltd., a Singapore-based commercial vehicle (CV) coatings company, acquired D-Act Co. Ltd. for an undisclosed amount. This strategic move aimed to strengthen NP Auto Refinishes' market share and leadership in the Thai automotive refinish and commercial vehicle coatings market. D-Act Co. Ltd. is a Japan-based manufacturer specializing in auto refinishing and industrial paints.
Refinish paint, also referred to as refinishing paint, is a specialized type of paint formulated explicitly for restoring or refreshing the appearance of surfaces previously painted or coated. This type of paint finds extensive use in the automotive industry for repairing and refinishing vehicles following damage or wear, ensuring that the restored areas seamlessly match the original paint color and finish.
The primary product categories of refinish paint include solvent-borne, waterborne, and powder formulations. Solvent-borne refinish paint utilizes organic solvents as carriers for the paint pigment. These paints are available in various coating types such as polyurethane, epoxy, acrylic, among others, with applications including clearcoat, basecoat, primer, and sealer. Refinish paints are employed across various types of vehicles, including passenger cars, light commercial vehicles, buses, and trucks.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The escalating U.S. tariffs and rising trade tensions in spring 2025 are expected to significantly affect the chemicals sector, which is facing a disproportionate impact - particularly from tariffs on petrochemicals and intermediates, where affordable domestic alternatives are limited. Specialty chemical producers, who rely heavily on Chinese raw materials, are encountering production disruptions. Meanwhile, fertilizer manufacturers are seeing their profit margins squeezed due to tariffs on phosphate imports. In response, companies are increasing investments in R&D for bio-based alternatives, forming procurement alliances to strengthen purchasing power, and relocating production to tariff-neutral countries like Saudi Arabia.
The refinish paint market research report is one of a series of new reports that provides refinish paint market statistics, including the refinish paint industry global market size, regional shares, competitors with refinish paint market share, detailed refinish paint market segments, market trends, and opportunities, and any further data you may need to thrive in the refinish paint industry. This refinish paint market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Major companies operating in the refinish paint market are BASF SE, Mitsubishi Chemical Corporation, Sherwin-Williams Company, Evonik Industries AG, Covestro AG, PPG Industries Inc., Arkema S.A., AkzoNobel NV, Nippon Paint Holdings Co Ltd., Wacker Chemie AG, KCC Corporation, Axalta Coating Systems Ltd., Valspar Corporation, Kansai Paint Co Ltd, Jotun Group, Cytec Industries Inc., Berger Paints India Limited, Rust-Oleum Corporation, Hexion Inc., Allnex Group, TOA Group Company Limited, Momentive Performance Materials Inc., Diamond Vogel Paints, Dunn-Edwards Corporation, Hempel A/S.
Asia-Pacific was the largest region in the refinish paint market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the refinish paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the refinish paint market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The refinish paint market consists of sales of acrylic ename, basecoat, fillers and putties, and activators and hardeners. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary2. Refinish Paint Market Characteristics3. Refinish Paint Market Trends And Strategies32. Global Refinish Paint Market Competitive Benchmarking And Dashboard33. Key Mergers And Acquisitions In The Refinish Paint Market34. Recent Developments In The Refinish Paint Market
4. Refinish Paint Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market
5. Global Refinish Paint Growth Analysis And Strategic Analysis Framework
6. Refinish Paint Market Segmentation
7. Refinish Paint Market Regional And Country Analysis
8. Asia-Pacific Refinish Paint Market
9. China Refinish Paint Market
10. India Refinish Paint Market
11. Japan Refinish Paint Market
12. Australia Refinish Paint Market
13. Indonesia Refinish Paint Market
14. South Korea Refinish Paint Market
15. Western Europe Refinish Paint Market
16. UK Refinish Paint Market
17. Germany Refinish Paint Market
18. France Refinish Paint Market
19. Italy Refinish Paint Market
20. Spain Refinish Paint Market
21. Eastern Europe Refinish Paint Market
22. Russia Refinish Paint Market
23. North America Refinish Paint Market
24. USA Refinish Paint Market
25. Canada Refinish Paint Market
26. South America Refinish Paint Market
27. Brazil Refinish Paint Market
28. Middle East Refinish Paint Market
29. Africa Refinish Paint Market
30. Refinish Paint Market Competitive Landscape And Company Profiles
31. Refinish Paint Market Other Major And Innovative Companies
35. Refinish Paint Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Refinish Paint Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on refinish paint market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Create regional and country strategies on the basis of local data and analysis.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for refinish paint ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The refinish paint market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Solvent Borne; Waterborne; Powder2) By Coating Type: Polyurethane; Epoxy; Acrylic; Other Coating Types
3) By Vehicle: Passenger Car; Light Commercial Vehicle; Bus; Truck
4) By Application: Clearcoat; Basecoat; Primer; Sealer
Subsegments:
1) By Solvent Borne: Alkyd-Based Paints; Epoxy-Based Paints; Acrylic-Based Paints2) By Waterborne: Water-Based Acrylic Paints; Water-Based Epoxy Paints
3) By Powder: Thermosetting Powder Coatings; Thermoplastic Powder Coatings
Key Companies Profiled: BASF SE; Mitsubishi Chemical Corporation; Sherwin-Williams Company; Evonik Industries AG; Covestro AG; PPG Industries Inc.; Arkema S.A.; AkzoNobel NV; Nippon Paint Holdings Co Ltd.; Wacker Chemie AG; KCC Corporation; Axalta Coating Systems Ltd.; Valspar Corporation; Kansai Paint Co Ltd; Jotun Group; Cytec Industries Inc.; Berger Paints India Limited; Rust-Oleum Corporation; Hexion Inc.; Allnex Group; TOA Group Company Limited; Momentive Performance Materials Inc.; Diamond Vogel Paints; Dunn-Edwards Corporation; Hempel A/S
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- BASF SE
- Mitsubishi Chemical Corporation
- Sherwin-Williams Company
- Evonik Industries AG
- Covestro AG
- PPG Industries Inc.
- Arkema S.A.
- AkzoNobel NV
- Nippon Paint Holdings Co Ltd.
- Wacker Chemie AG
- KCC Corporation
- Axalta Coating Systems Ltd.
- Valspar Corporation
- Kansai Paint Co Ltd
- Jotun Group
- Cytec Industries Inc.
- Berger Paints India Limited
- Rust-Oleum Corporation
- Hexion Inc.
- Allnex Group
- TOA Group Company Limited
- Momentive Performance Materials Inc.
- Diamond Vogel Paints
- Dunn-Edwards Corporation
- Hempel A/S
