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 R&D and innovation in refinish coatings, such as eco-friendly high-tech coating materials, which is another driving factor of the market.
Strict regulations regarding the products which contain VOC is hindering the market growth. The usage of VOC-containing products releases VOCs resulting to smog and air pollution. To enhance air quality, governments of many countries have implemented a series of control measures.
The report takes a closer look at the historical and current market scenarios to accurately predict the global Automotive Refinish Coatings market outlook over the forecast duration (2021-2028). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Automotive Refinish Coatings market.
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Competitive Outlook:
The global Automotive Refinish Coatings market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Automotive Refinish Coatings market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some of the key participants in this industry 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.
Key regions covered in the report:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
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
Valuable Market Insights:
- The report highlights the latest trends observed in the consumption pattern of each regional segment.
- Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
- The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Automotive Refinish Coatings market.
- The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.
Questions addressed in the report:
- What is the estimated market growth rate throughout the forecast period?
- Which end-use industry is expected to witness the highest demand for Automotive Refinish Coatings in the near future?
- What is the regulatory framework governing the application of Automotive Refinish Coatings in the food industry?
- Which manufacturing processes are utilized for the production of Automotive Refinish Coatings?
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