Global Automotive Refinish Coatings Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Automotive Refinish Coatings Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global automotive refinish coatings market report has been segmented on the basis of product type, technology, material type, vehicle type, end user, and region.
Global Automotive Refinish Coatings Market: Overview
Automotive refinish coatings are polyurethane, acrylics or alkyd based coatings majorly used by automotive body shops and repair centers. Such coatings are applied to old or new vehicles to cover up damages that are caused due to accidents and climate factor.
Global Automotive Refinish Coatings Market: Dynamics
Increasing investment of individuals into maintenance of vehicles, research and development activities related to paints and coatings to provide better surface finish as well as quality of coatings are some of the major factors expected to propel demand for automotive refinish coatings and drives growth of the target market over the forecast period. Moreover, adoption of technologically advanced technologies in automobiles, increase in the number of vehicle accidents, and increase in the average age of vehicles are some of the other factors anticipated to play an important role for growth of the target market.
However, stringent regulations regarding VOC emissions and lack of skilled personnel are some of the factors may restrain growth of the global automotive refinish coatings market during the forecast period.
Global Automotive Refinish Coatings Market: Segment Analysis
Global market is segmented on the basis of product type, technology, material type, vehicle type, end-user, and geography.
Among the product type, primer segment is expected to register significant growth rate in the market over the forecast period. The increasing vehicle production and the rising demand for improved vehicle aspects such as smoothening of the surface, are some factors expected to drive growth of the target segment.
On the basis of technology, the target market is segmented into solvent borne, water borne, and UV cure coatings. Water borne coatings segment is anticipated to register a significant growth rate during the forecast period.
On the basis of material type, the global market segregated into polyurethanes, acrylics, and alkyd. The polyurethane resins segment is expected to hold significant share in the market over the forecast period.
On the basis of vehicle type, the target market is segmented into passenger vehicles and commercial vehicles. The passenger vehicle segment is projected to grow at faster pace.
Among the end-users, the OEM segment is expected to grow at a significant rate in the global market over the forecast period.
Automotive Refinish Coatings Market: Region Analysis
Geographically, the Asia Pacific accounts for a major share in the global market, owing to increasing vehicle production, spending capacity on luxury vehicles, and customization of the vehicles, along with rising focus on high comfort and safety in countries such as China, Japan, India, and South Korea in the region. The market in North America accounts for significant share in the global market in terms of revenue and is expected to maintain its growth rate over the forecast period.
Automotive Refinish Coatings Market Segmentation:
Segmentation by Product Type:
- Primer & Filler
- Base Coat
- Top Coat
- Clear Coat
- Activator or Hardener
Segmentation by Technology:
- Solvent Borne
- Water Borne
- UV Cure Coatings
Segmentation by Material Type:
Segmentation by Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
Segmentation by End User:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Axalta Coating Systems
- BASF SE
- Kansai Paint Co. Ltd.
- Mitsui Chemicals
- PPG Industries, Inc.
- Nippon Paint Holding Co. Ltd.
- Sherwin Williams
- 3M Co.
- Matrix System Automotive Finishes
- AzkoNobel N.V.
- Convestro AG
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