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.
The detailed market intelligence report on the Automotive Refinish Coatings market applies the best of both primary and secondary research to weighs upon the competitive landscape and the prominent market players expected to dominate the Automotive Refinish Coatings market for the forecast period, 2019 - 2027. The study not only scans through the company profile of the major vendors but also analyses their winning strategies to give business owners, stakeholders and field marketing personnel a competitive edge over others operating in the same space.That being said, the research closely examined the market share occupied by only a few of the prominent market players in the Automotive Refinish Coatings market for the forecast period 2019 to 2027. The researchers behind the research unmasked population statistics on market segmentation including product type, application, sales and Geography.
Market Size – USD 8.73 billion in 2019, Market Growth - CAGR of 3.7%, Market trends –Growth of environment-friendly coating technologies.
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Scope of The Report
The Automotive Refinish Coatings market is further segmented in terms of applications, end-user, end-use, geographic presence, by-products as well as services. In addition, the subject matter experts evaluating the industry provide an all-inclusive category-specific industry outlook. A comprehensive collection of data on major companies occupying a strong foothold in the industry adds immense value to the overall research. The assessment of the wining strategies followed by these companies can help business owners not only strategize but also execute business operations by referring the statistics about competitor analysis. Careful assessment of the industry analysis across different regions along with vital information on the market size, share and growth rate makes this report a wonderful resource for business evangelists.
Global Automotive Refinish Coatings market competition by TOP MANUFACTURERS, with production, price, and revenue (value) and market share for each manufacturer; the top players including:
- Key participants include 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.
For the purpose of this report, 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
Regional Analysis of the Market:
- 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)
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.
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The Automotive Refinish Coatings Market report also includes an investment analysis and growth trend analysis to help readers maximize their return on investment. It highlights the growth opportunities existing in the global Automotive Refinish Coatings market segments. It offers an extensive investigation of the import-export status and the rates of production and consumption. The Automotive Refinish Coatings Market report also provides some of the essential market aspects to draw a forecast for the coming years based on the information derived as part of the historical analysis and an analysis of the current market scenario.
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