Automotive Refinish Coatings Market by Product Type (Primer, Basecoat, Clearcoat ,Activator, Filler & Putty), Technology (Solvent-borne Coatings, Water-borne Coatings, UV-cured Coatings) and Resin (Polyurethane, Alkyd, Acrylic)- Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Automotive Refinish Coatings Market held USD 9475.6 million in 2020 and is to grow with a CAGR of 5% from 2020-2030. The automotive car body shops and repair centers uses automotive refinishing coating for vehicle refinishing. Over the last five years , the global automotive refinish coatings market has seen tremendous growth. This was primarily because of increased collision in automobiles and the proprietors' reluctance to fix their automobiles. Increased government's rules and  regulations on the use of high volatile organic compounds ( VOC) can, however, hinder the growth of solvent-borne markets. Consequently, the industry is inclined to refinish waterborne coatings because of relatively low rates of VOCs.

Market Dynamics and Factors:

Increase in number of road accidents, rising disposable income and adopting newer technologies in the developing countries are some major factors to boost the global automotive refinish coatings market growth. A greater awareness about the protection of vehicle paints through healing scratches and damage to vehicle surfaces has increased the global automotive refinish coatings market size. The growing need for repainting work in vintage vehicles, combined with increasing refurbishment and repair of old cars, is expected to boost the market size for automotive refinishing coatings. Therefore, growing passenger car production, driven by increased demand from the middle class population, is expected to boost automotive refinish coatings market growth.

Market Segmentation:

Based on the type, the global automotive refinish coatings industry is segmented into tempered glass,  laminated glass, heat strengthened glass, float glass, and others. On the basis of application, the market is segmented into food & packaging, construction, marine industry, electronics, energy, automotive, aerospace, military & defense and  healthcare. Geographic bifurcation of global automotive refinish coatings market share includes North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Asia-Pacific is the largest producer of automotive refinished coatings market. This is mainly due to the increasing sales of pre-owned cars, cab services, and auto repair and car body shops in the area. Also, growth in demand for recreational automobiles in the developed parts of Europe and North America is expected to fuel the automotive refinish coatings market demand. Bad road networks, lack of appropriate safety regulations and rising demand for vehicle maintenance, repair and modification would have a positive effect on the automotive refinish coatings market growth. Rising awareness for the protection regarding paints on automobile body by surface damage and scratches has fueled the automotive refinish coatings market growth in U.S. Also, increasing consumer base in  Middle East countries owing to rise in disposable income is expected to support the growth of its automotive refinish coatings market share during the forecast period.

Competitive Scenario:

The global automotive refinish coatings market, which is highly competitive, consists of a few major players. In terms of market share, few of the major players currently dominate the market. The key players of market  are BASF SE, Axalta Coating Systems, Mitsui Chemicals, Kansai Paint Co. Ltd., Nippon Paints, 3M Co.,  Matrix System Automotive Finishes, PPG Industries, Inc., and Sherwin Williams,.

Automotive Refinish Coatings Market Report Scope