Global Automotive Refinish Coatings Market Size, Trends & Growth Opportunity, By Technology (Solvent-borne Coatings, Water-borne Coatings, other), By Resin Type (Polyurethane, Alkyd, Acrylic, Others), By Coat Type (Primer & Filler, Basecoat, Clear coat, Activator/Hardners, Others.) By Region and Forecast till 2027.
Report ID : QR1001453 | Industries : Automotive and Transportation | Published On :March 2022 | Page Count : 235Global Automotive Refinish Coatings Market
The global Automotive Refinish Coatings market was valued at USD 6.02 billion in 2020 which expected to reach USD 9.9 billion by 2027 at a CAGR 5.3% from 2020-2027.
Automotive refinish coatings are polyurethane, acrylic, or alkyd-based coatings used by auto body shops and repair shops. These coatings are applied to new and used passenger and commercial vehicles to conceal body damage caused by extreme temperatures, accidents, and stone impact. Primer, filler, topcoat, basecoat, and activator or hardener coatings are some of the most commonly used refinish coatings.
Market Drivers
One of the key factors contributing to the market's positive outlook is the global expansion of the automotive industry. Furthermore, the growing number of road accidents and collisions has increased the demand for repair and maintenance activities, stimulating market growth. In line with this, there is a shift in consumer preference toward customized aftermarket vehicle modifications.
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Market Restraints
Consumers' growing environmental concerns are compelling them to prefer eco-friendly products over conventional products. Government restrictions on the use of various environmentally degrading products have also caused the market's consumer base to shift to eco-friendly refinish coatings.
Impact of COVID-19
COVID-19 has had an unprecedented negative impact on automotive paint industry majors throughout the ASEAN region in 2020. Throughout the year, automotive coating consumption and production were severely impacted. Though numbers began to improve in the fourth quarter of 2020, it is too early to tell whether this revival is temporary or permanent. Aside from the human toll, the coronavirus pandemic has had an impact on the region's economy and auto production. Indonesia and Thailand were the worst affected countries during the first wave.
Market Segmentation
The Global Automotive Refinish Coatings Market is segmented into Technology, Resin Type, Distribution Channel and Growing System. By Technology such as Solvent-borne Coatings, Water-borne Coatings, Other. By Resin Type such Polyurethane, Alkyd, Acrylic, Others. By Coat Type such as Primer & Filler, Basecoat, Clear coat, Activator/Hardners, Others.
Regional Analysis
Global Automotive Refinish Coatings Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, the Automotive Refinish Coatings market in APAC is expected to grow at the fastest CAGR. The presence of a strong automotive manufacturing base in China, Japan, and India, combined with rising passenger vehicle sales, is expected to boost market growth in the coming years.
Underdeveloped road networks, a lack of proper safety laws, and increased demand for vehicle maintenance, repair, and modification are all expected to boost industry growth. Increased use of old refurbished vehicles due to lifestyle trends is expected to support product demand over the forecast period. Over the forecast period, China is expected to experience rapid growth due to an increase in the number of road accidents and rising vehicle ownership. Vehicle sales are likely to rise as a result of rapid development and modernization.
Key Players
Various key players are listed in this report such as Axalta Coating System, PPG Industries, Mitsui Chemicals, Matrix System Automotive Finishes LLC, Kansai Paint Co. Ltd., Nippon Paint., BASF SE, Sherwin-Williams, and 3M Co
Market Taxonomy
By Technology
- Solvent-borne Coatings
- Water-borne Coatings
- other
By Resin Type
- Polyurethane
- Alkyd
- Acrylic
- Others
By Coat Type
- Primer & Filler
- Basecoat
- Clear coat
- Activator/Hardners
- Others
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Automotive Refinish Coatings Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Global Automotive Refinish Coatings Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Automotive Refinish Coatings Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Automotive Refinish Coatings Market, By Technology
5.1 Y-o-Y Growth Comparison, By Technology
5.2 Global Automotive Refinish Coatings Market Share Analysis, By Technology
5.3 Global Automotive Refinish Coatings Market Size and Forecast, By Technology
5.3.1 Diode laser
5.3.2 Fiber laser
5.3.3 CO2 laser
5.3.4 Acoustic laser
5.3.5 Others
6 Global Automotive Refinish Coatings Market, By Resin Type
6.1 Y-o-Y Growth Comparison, By Resin Type
6.2 Global Automotive Refinish Coatings Market Share Analysis, By Resin Type
6.3 Global Automotive Refinish Coatings Market Size and Forecast, By Resin Type
6.3.1 Solvent-borne Coatings
6.3.2 Water-borne Coatings
6.3.3 other
7 Global Automotive Refinish Coatings Market, By Coat Type
7.1 Y-o-Y Growth Comparison, By Coat Type
7.2 Global Automotive Refinish Coatings Market Share Analysis, By Coat Type
7.3 Global Automotive Refinish Coatings Market Size and Forecast, By Coat Type
7.3.1 Primer & Filler
7.3.2 Basecoat
7.3.3 Clear coat
7.3.4 Activator/Hardners
7.3.5 Others
8 Global Automotive Refinish Coatings Market, By Region
8.1 Global Automotive Refinish Coatings Market Share Analysis, By Region
8.2 Global Automotive Refinish Coatings Market Share Analysis, By Region
8.3 Global Automotive Refinish Coatings Market Size and Forecast, By Region
9 North America Automotive Refinish Coatings Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 North America Automotive Refinish Coatings Market Share Analysis, By Technology
9.3 North America Automotive Refinish Coatings Market Size and Forecast, By Resin Type
9.4 North America Automotive Refinish Coatings Market Size and Forecast, By Coat Type
9.6 North America Automotive Refinish Coatings Market Size and Forecast, By Country
9.7.1 U.S.
9.7.2 Canada
9.7.3 Mexico
10 Europe Automotive Refinish Coatings Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Europe Automotive Refinish Coatings Market Share Analysis, By Technology
10.3 Europe Automotive Refinish Coatings Market Size and Forecast, By Resin Type
10.4 Europe Automotive Refinish Coatings Market Size and Forecast, By Coat Type
10.6 Europe Automotive Refinish Coatings Market Size and Forecast, By Country
10.6.1 Germany
10.6.2 France
10.6.3 UK
10.6.4. Rest of Europe
11 Asia Pacific Automotive Refinish Coatings Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Asia Pacific Automotive Refinish Coatings Market Share Analysis, By Technology
11.3 Asia Pacific Automotive Refinish Coatings Market Size and Forecast, By Resin Type
11.4 Asia Pacific Automotive Refinish Coatings Market Size and Forecast, By Coat Type
11.6 Asia Pacific Automotive Refinish Coatings Market Size and Forecast, By Country
11.6.1 China
11.7.2 Japan
11.8.3 India
11.8.4. Rest of Asia Pacific
12 Latin America Automotive Refinish Coatings Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Latin America Automotive Refinish Coatings Market Share Analysis, By Technology
12.3 Latin America Automotive Refinish Coatings Market Size and Forecast, By Resin Type
12.4 Latin America Automotive Refinish Coatings Market Size and Forecast, By Coat Type
12.6 Latin America Automotive Refinish Coatings Market Size and Forecast, Country
12.7.1. Brazil
12.8.2. Rest of Latin America
13 Middle East Automotive Refinish Coatings Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Middle East Automotive Refinish Coatings Market Share Analysis, By Technology
13.3 Middle East Automotive Refinish Coatings Market Size and Forecast, By Resin Type
13.4 Middle East Automotive Refinish Coatings Market Size and Forecast, By Coat Type
13.6 Middle East Automotive Refinish Coatings Market Size and Forecast, By Country
13.7.1. Saudi Arabia
13.8.2. UAE
13.8.3. Egypt
13.9.4. Kuwait
13.10.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Axalta Coating System
15.1.1 Overview
15.1.2 Technologys
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. PPG Industries
15.2.1 Overview
15.2.2 Technologys
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Mitsui Chemicals
15.3.1 Overview
15.3.2 Technologys
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Matrix System Automotive Finishes LLC
15.4.1 Overview
15.4.2 Technologys
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Han’s Laser Technology Industry Group Co., Ltd
15.5.1 Overview
15.5.2 Technologys
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Kansai Paint Co. Ltd
15.6.1 Overview
15.6.2 Technologys
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Nippon Paint
15.7.1 Overview
15.7.2 Technologys
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 BASF SE
15.8.1 Overview
15.8.2 Technologys
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
16.8 Sherwin-Williams
16.8.1 Overview
16.8.2 Technologys
16.8.3 Key Financials
16.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
16.8.6 Key Strategies
17.8 3M Co
17.8.1 Overview
17.8.2 Technologys
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies