Automotive Refinish Coatings Market 2022 Highlights on Future Development, Top Trends and Leading Players Analysis by 2030
Research Reports
Dec 19, 2022
The automotive refinish coatings market is expected to reach a value of $11.3 billion by 2030 with a CAGR of around 6.6%.
Automotive refinish coatings are specific kinds of paint that are used to fix or restore a vehicle’s paint job. These coatings come in solvent- or water-based varieties. These coatings are often applied by skilled car body shops. Due to its greater environmental friendliness compared to solvent-based coatings, water-based vehicle refinish coatings are growing in popularity.
Due to rising per capita incomes and population density, which has led to a shift in consumer demand toward highly sophisticated and technologically advanced goods and equipment, the automotive refinish coatings market has been growing in a variety of ways across all segments and geographical locations.
Regional analysis:
The market for automotive refinish coatings has been segmented into five regions, and each has made a substantial contribution based on its capabilities and population demands. But out of the five regions, the Asia Pacific region has been responsible for the largest market share for automotive refinish coatings. This is where the key factors influencing the industry’s growth are developed, and the local populace appears to be particularly interested in new product innovations.
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Revenue from markets for automobile refinish coatings is anticipated to mostly originate from nations like China, Japan, Korea, and India. Statistics on automobile refinish coatings show that these nations’ populations and disposable incomes have both been growing.
With assistance from established countries like France, Germany, Denmark, Belgium, etc., the European region has also seen rapid expansion. As the nations in this region have benefited from technology, operations have been maximised while costs have decreased, leading to significant market share increase for automobile refinish coatings in the North American region.
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Report Attribute/Metric |
Details |
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Market Size |
2030: USD 11.3 billion |
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CAGR |
2030: 6.6% CAGR |
|
Base Year |
2021 |
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Forecast Period |
2021 to 2030 |
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Historical Data |
2019 & 2020 |
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Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
By Product Type, Technology, Resin, Vehicle Type & Region |
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Geographies Covered |
North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
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Key Vendors |
KCC Corporation (South Korea), BASF SE (Germany), Mitsui Chemicals, Inc. (Japan), PPG Industries, Inc. (US), Nippon Paint (Japan), KAPCI Coatings (Egypt), The Valspar Corporation. (US), The Sherwin-Williams Company (US), 3M (US), Akzo Nobel N.V (The Netherlands), Kansai Paint Co., Ltd (Japan), Covestro AG (Germany), Esdee Paints Limited (India), Axalta Coating Systems, LLC (US), The Lubrizol Corporation (US) and Berger Paints India Limited (India). |
Market segmentation:
The following market segments have been created for automobile refinish coatings:
Primer, Basecoat, Clearcoat, Activator, Filler, and Putty are the many product types.
Solvent-borne coatings, water-borne coatings, UV-cured coatings, high-solid coatings, and powder coatings are available according to technology.
Polyurethane, Alkyd, Acrylic, and Epoxy are resins.
By Vehicle Type: Cars, Trucks, and Two-Wheeled Vehicles
Key players:
KCC Corporation (South Korea), BASF SE (Germany), Mitsui Chemicals, Inc. (Japan), PPG Industries, Inc. (US), Nippon Paint (Japan), KAPCI Coatings (Egypt), The Valspar Corporation. (US), The Sherwin-Williams Company (US), 3M (US), Akzo Nobel N.V (The Netherlands), Kansai Paint Co.
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