According to the latest report by IMARC Group, titled “Automotive Refinish Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2027”, Offers a comprehensive analysis of the industry, which comprises insights on automotive refinish coatings market share. The global automotive refinish coatings market reached a value of US$ 9.57 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.68 Billion by 2027, exhibiting a CAGR of 4.5% during 2022-2027.
Industry Definition and Application:
Automotive refinish coatings are used on automobiles for decoration and protection purposes. They are utilized for the regular maintenance and servicing of a car. There are different types of refinish coatings, which include primer, putty, and top and base coat. Refinish coatings are used to enhance the look and durability of the vehicles and protect them from damages due to harsh temperatures and UV radiation.
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Market Trends:
Rapid advancements in the automotive industry are majorly fueling the global automotive refinish coatings market growth. The escalating demand for luxury vehicles, which require regular maintenance and finishing, is further propelling the market growth. Additionally, increasing incidences of road accidents and collisions have resulted in the rising demand for repair and maintenance activities, which is positively affecting the market growth. Other factors, such as the development of environment-friendly refinish coatings, and increasing disposable income of consumers, are creating a positive outlook for the market.
Automotive Refinish Coatings Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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.,
- The Sherwin-Williams Company
Breakup by Resin Type:
- Polyurethanes
- 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
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive mapping of the competitive landscape
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