Market Research Report on “Global Automotive Refinish Coatings Market 2018-2025” is provided by Adroit Market Research. Get Custom Research on Requirement.
The global automotive refinish coatings market size is estimated to be worth USD 9.24 billion by 2025. In terms of volume, the market is projected to expand ~1.3x times from 2017 to 2025.
The rise in the number of vehicle fleet across the globe has resulted in driving the growth of the automotive refinishing industry. In 2017, total vehicle sales across the globe crossed 97 million, an increase of approximately 3% over the previous year. Modification of vehicles, a trend prevalent among the youth, has been one of the primary factors augmenting the growth of the global automotive refinish coatings market.
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Rising number of accidents across the world is also driving the growth of the global automotive refinish coatings market. Lack of infrastructure and rash driving are some of the factors augmenting the demand for refinishing coatings. This trend particularly holds more weight among new car owners that are willing to insure their cars and invest in repairing their vehicles. This is likely to subsequently increase the consumption of repair & maintenance products such as fillers, primers, clearcoats, and polishes among others.
Solvent-borne, waterborne and UV cured coating formulation technologies are used for refinishing vehicle body components. Of these technologies, the waterborne category is gaining preference over its solvent-borne counterpart due to the presence of a stringent regulatory framework across the world on VOC (Volatile Organic Compounds) emissions. This is expected to result in decreasing the consumption of solvent-borne coatings in the future, paving way for a fast-paced development and increased consumption of waterborne refinish coatings. Thus, based on our estimations, the global waterborne refinish coatings market is expected to be 635 kilo tons by 2025.
Based on the different type of products used in automotive refinish coatings market, clearcoat and basecoat are expected to witness high demand over the forecast period. Clearcoat or topcoat is applied after preliminary treatment of the surface in order to give required finishing to the vehicle surface. High degree of innovation in this segment is also attracting consumers which in turn is expected to further accelerate market growth. For instance, in July 2014, AkzoNobel introduced a new vehicle refinish clearcoat, which offers superior performance, perfect finish and sustainability.
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A deep dive analysis of the global automotive refinish coatings market shows that Asia Pacific accounted for the largest market share, both volume and value exceeding 40% in 2017. The region is estimated to maintain its dominance during the forecast period, due to the positive development of the automotive industry in China, India, and ASEAN countries. The rise in vehicle ownership in these countries is also playing an important role in strengthening the position of Asia Pacific in the global automotive refinish coatings market over the forecast period. Furthermore, increasing consumer spending is driving the trend towards vehicle maintenance.
Apart from Asia Pacific, Latin America is also projected to witness a significant growth in the global automotive refinish market over coming years. Brazil is projected to witness impressive growth, owing to improving economic conditions and growth in industrial sectors, whereas matured economies such as the U.S., Germany and UK are projected to show steady demand over the forecast period owing to fixed growth in vehicle fleet as well as already high market penetration in these countries.
PPG Industries Ltd, BASF SE, Axalta Coating Systems Ltd., and AkzoNobel NV are some of the players with a worldwide presence focusing on expanding their global footprint by strengthening their product portfolios. However, in recent times, numerous regional players such as Kansai Paint, Kapci Coatings, Alsa Refinish have entered this marketplace to cater to the growing local demand, thereby, increasing the competitiveness of the global automotive refinish coatings market.
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Key Segments of the Global Automotive Refinish Coatings Market
Product Type overview, 2014-2025 (Kilo Tons) (USD Million)
- Primer
- Basecoat
- Clearcoat
- Others
Resin Type Overview, 2014-2025 (Kilo Tons) (USD Million)
- Alkyd
- Acrylic
- Polyurethane
- Others
Technology Overview, 2014-2025 (Kilo Tons) (USD Million)
- Solvent borne
- Waterborne
- UV cured
Vehicle Type Overview, 2014-2025 (Kilo Tons) (USD Million)
- Passenger cars
- Commercial vehicles
Regional Overview, 2014-2025 (Kilo Tons) (USD Million)
North America
- US
- Canada
Latin America
- Brazil
- Mexico
Europe
- Germany
- France
- UK
Asia Pacific
- China
- Japan
- India
- ASEAN
Middle East & Africa
- GCC
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The Automotive Refinish Coatings Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.This research report also includes profiles of major companies operating in the global market.
Some of the prominent players operating in the global Automotive Refinish Coatings market are 3M Company, AkzoNobel N.V., Axalta Coating Systems Ltd, BASF SE, DowDuPont Inc., Kansai Paint Co., Ltd., KCC Corporation, Nippon Paint Holdings Co Ltd, PPG Industries Inc., and The Sherwin-Williams Company.
This section cover profiling of major players in terms of important aspects such as company overview, financial overview, business strategy, and recent developments undertaken during the forecast horizon.Get more information on "Global Automotive Refinish Coatings Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/automotive-refinish-coatings-market/download-sampleMarket DynamicsThe increasing investment of consumers towards the maintenance of vehicles is driving the automotive refinish coating market growth.
Moreover, the growing automotive industry in emerging economies like Asia-Pacific is again fueling market growth.
However, fluctuating raw material prices of coating materials could hinder the market growth.The report has been created by using crucial tools such as Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis to help businesses around the globe navigate opportunities and challenges in the rapidly evolving marketplace with clarity.
The global automotive refinish coatings market is expected to reach USD 11.34 Billion by 2026, according to a new report by Reports and Data.
This can be mainly associated with the increasing disposable income, changing lifestyle and buying behavior of people, and the demand for luxury vehicles from the segment.Automotive refinishing coatings are used by the end-users, to address the growing need for up-to-date maintenance and servicing of vehicles to enhance the look and durability of the vehicles and by protecting them from damages due to harsh temperatures and UV radiation.
Developments and innovations in coatings, such as high-tech eco-friendly coating materials having low solvent content is another factor fueling the growth of the market.Automotive Refinish Coatings Market Size – USD 8.39 Billion in 2018, Market Growth - CAGR of 3.8%, Market Trends – Rise of environment friendly coating technologies.Stringent regulations regarding various VOC-containing products is one of the factors restraining the growth of the market.
The use of VOC-containing products, releases VOCs causing air pollution and smog, to improve the same, Governments of many countries have implemented a series of control measures.Request A Free Sample : https://www.reportsanddata.com/sample-enquiry-form/1248Further key findings from the report suggestThe market is segmented on the basis of resin type into epoxy, alkyd, polyurethane, others.The polyurethane segment dominated the market in 2018, and is forecasted to grow at a CAGR of 2.2% during the forecast period, since it is less expensive, environment-friendly and also versatile.The market is segmented on the basis of product into primer, basecoat, clear coat, activator, filler & putty.Clear coats, which provide protection to the paint on the vehicles from sun, dust or water, hold the largest share of the market in 2018.
It is expected to have a growth rate of 3.4% during the forecast period.Solvent-borne coatings hold the largest share in the market in 2018 with a CAGR of 2.9% during the forecast period, the reason is because of its cost effectiveness as compared to other technologies.The market is segmented on the basis of substrate into glass, metal, plastic, and others.The market is segmented on the basis of applications into commercial vehicles, passenger vehicles, and two wheelers.The passenger vehicles segment had the largest market share of ~43% of the market in 2018, in terms of revenue.
The demand is expected to substantially increase because of high disposable incomes, changing buying behavior and demand for luxury cars.The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America and MEA.Key participants include PPG Industries Inc., The Sherwin Williams Company, Axalta Coating systems Ltd., AzkoNobel N.V BASF SE, Convestro AG, Kansai Paints Co. Ltd., Esdee Paint Ltd., KCC Corporation, KAPCI Coating Co. Ltd., NOROO Paint & Coatings Co. Ltd, The Lubrizol Corporation, S.Coat Co., Ltd., Nippon Paint Holding Co. Ltd., and Berger Paints India Ltd., among others.The companies have adopted various strategies including mergers, acquisitions and partnerships to hold on going trails and come up with new developments in the market.To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/automotive-refinish-coatings-marketFor the purpose of this report, Reports and Data have segmented global automotive refinish coatings Market on the basis of resin type, product, technology, substrate, application, and region:Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)EpoxyAlkydPolyurethaneOthersProduct Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)PrimerBasecoatClearcoatActivatorFillerPuttyTechnology Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)Solvent-borne CoatingsWater-borne CoatingsUV-cured CoatingsSubstrate Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)GlassMetalPlasticOtherApplications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)Commercial vehiclesLight Commercial Vehicle (LCV)Heavy Commercial Vehicle (HCV)Passenger vehiclesCompactExecutiveLuxuryTwo-wheelerObjectives of the report:To study the current impact of COVID-19 on leading segments of the industry and to project changes in the sector due to the pandemic.To calculate the market size, in both value and volume, and CAGR for the base year and the forecast period.To study the technological advancements in the sector in recent years and the technological pipeline and project the impact of the pandemic on technological advancements and spending by companies.To conduct a regional analysis by considering market presence in the leading regions.To study key trends observed in the historical analysis and speculate future trends.To assess the region expected to grow at a significant pace in the coming years and key factors contributing to the overall revenue.To highlight the existing growth opportunities, challenges, risks, drivers, and constraints expected to affect the market in the coming years.To profile leading companies in the industry, along with their product portfolios and strategic alliances.Thank you for reading our report.
The Automotive Refinish Coatings market was valued at Million US$ in 2018 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period.
In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Automotive Refinish Coatings.This report presents the worldwide Automotive Refinish Coatings market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.Key Questions Addressed by the ReportWhat is the growth perspective of the Automotive Refinish CoatingsMarket and the key dynamics and trends governing the market?What are key sustainability strategies adopted by the leading players in the Automotive Refinish CoatingsMarket?What are the new and emerging technologies and use cases disrupting the Automotive Refinish Coatingsindustry?What are the key applications where Automotive Refinish Coatingsplays a significant role?Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-automotive-refinish-coatings-2025-504This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.The following manufacturers are covered in this report:BASFAkzoNobelPPG IndustriesAxalta Coating SystemsSherwin-WilliamsValspar CorporationNippon PaintBerger PaintsKansai PaintKAPCI CoatingsKCC CorporationCabot CorporationColor CommunicationNOROO Paints & CoatingsAlsa RefinishDiamond VogelDonglaiAutomotive Refinish Coatings Breakdown Data by TypeSolvent-borne CoatingsWater-borne CoatingsUV Cured Coatings)Automotive Refinish Coatings Breakdown Data by ApplicationPassenger VehicleLight Commercial VehicleHeavy Commerical VehicleAutomotive Refinish Coatings Production by RegionUnited StatesEuropeChinaJapanOther RegionsAutomotive Refinish Coatings Consumption by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaMalaysiaPhilippinesThailandVietnamEuropeGermanyFranceUKItalyRussiaRest of EuropeCentral & South AmericaBrazilRest of South AmericaMiddle East & AfricaGCC CountriesTurkeyEgyptSouth AfricaRest of Middle East & AfricaThe study objectives are:To analyze and research the global Automotive Refinish Coatings status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Automotive Refinish Coatings manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.In this study, the years considered to estimate the market size of Automotive Refinish Coatings :History Year: 2014 - 2018Base Year: 2018Estimated Year: 2019Forecast Year: 2019 - 2025This report includes the estimation of market size for value (million USD) and volume (K Units).
Both top-down and bottom-up approaches have been used to estimate and validate the market size of Automotive Refinish Coatings market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.For the data information by region, company, type and application, 2018 is considered as the base year.
Whenever data information was unavailable for the base year, the prior year has been considered.The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, restraints, current trends of the past and present times, supervisory scenario, and technological growth.
Global Automotive Refinish Coatings Market OverviewThe Global Automotive Refinish Coatings Market report draws accurate insights by examining the latest and prospective industry trends, helping the readers recognize the products and services that are boosting revenue growth and profitability.
The study performs a detailed analysis of all the significant factors impacting the market on a global and regional scale, including drivers, constraints, threats, challenges, prospects, and industry-specific trends.
Additionally, the report cites worldwide certainties and endorsements, along with a downstream and upstream evaluation of leading participants.Market Size – USD 8.39 Billion in 2018, Market Growth - CAGR of 3.8%, Market Trends – Rise of environment friendly coating technologies.Check out the Sample Report here: https://www.reportsanddata.com/sample-enquiry-form/1248The Automotive Refinish Coatings market analysis is intended to provide all participants and vendors with pertinent specifics about growth aspects, roadblocks, threats, and lucrative business opportunities that the market is anticipated to reveal in the coming years.
This intelligence study also encompasses the revenue share, market size, production capacity, and rate of consumption to draw insights pertaining to the rivalry to gain control of a large portion of the market share.Leading Players in the Automotive Refinish Coatings Market: PPG Industries Inc., The Sherwin Williams Company, Axalta Coating systems Ltd., AzkoNobel N.V BASF SE, Convestro AG, Kansai Paints Co. Ltd., Esdee Paint Ltd., KCC Corporation, KAPCI Coating Co. Ltd., NOROO Paint & Coatings Co. Ltd, The Lubrizol Corporation, S.Coat Co., Ltd., Nippon Paint Holding Co. Ltd., and Berger Paints India Ltd., among others.Competitive landscapeThe Automotive Refinish Coatings Industry is extremely competitive and consolidated because of the existence of several established companies that are adopting different marketing strategies in order to increase their market share.
The vendors are gradually expanding their focus on product personalization by way of customer interaction.Automotive Refinish Coatings Market segment by Regions/Countries: United States, Europe, China, Japan, Southeast Asia, India, Central & South America.Go For Interesting Discount Here: https://www.reportsanddata.com/discount-enquiry-form/1248For the purpose of this report, Reports and Data have segmented global automotive refinish coatings Market on the basis of resin type, product, technology, substrate, application, and region:Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)EpoxyAlkydPolyurethaneOthersProduct Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)PrimerBasecoatClearcoatActivatorFillerPuttyTechnology Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)Solvent-borne CoatingsWater-borne CoatingsUV-cured CoatingsSubstrate Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)GlassMetalPlasticOtherApplications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)Commercial vehiclesLight Commercial Vehicle (LCV)Heavy Commercial Vehicle (HCV)Passenger vehiclesCompactExecutiveLuxuryTwo-wheeler To buy this report on the Automotive Refinish Coatings market, click here: https://www.reportsanddata.com/checkout-form/1248Points Covered in The Report:The pivotal aspects considered in the Global Automotive Refinish Coatings Market report consist of the leading competitors functioning in the global sector.The report also encompasses company profiles prominently positioned in the global market.The production, sales, corporate strategies, and the technological capabilities of leading manufacturers are also contained within the report.The driving factors for the growth of the Global Automotive Refinish Coatings Market are explained exhaustively, along with an in-depth account of the end-users in the industry.The report also explains critical application areas of the global sector, curating an accurate description of the market to the readers/users.The report undertakes a SWOT analysis of the market.
In the final section, the report features the opinions and views of the industry experts and professionals.
The International Organization of Motor Vehicle Manufacturers (OICA) states that 139,886 commercial vehicles and 551,400 cars were manufactured in Indonesia in 2020.
OICA further mentions that the country recorded sales of 388,925 passenger cars and 143,152 commercial vehicles in 2020.
Original equipment manufacturers (OEMs) and aftermarkets across Indonesia are using refinish coatings on passenger cars and commercial vehicles to increase vehicle age and enhance the aesthetics of such automobiles.
Apart from commercial vehicles and passenger cars, such coatings are also applied on two-wheelers for protective and decorative purposes.Thus, the escalating automobile sales in this Asian country, primarily on account of the mounting disposable income of people, will help the Indonesian automotive refinish coatings market progress at a CAGR of 4.9% during 2018–2023.
The market revenue stood at $240.2 million in 2017 and it is expected to reach $336.6 million by 2023.
Apart from observing the booming sales of new automobiles, the country is also witnessing a spike in the sales of second-hand vehicles from pre-owned car dealerships.
