Automotive Refinish Coatings Market : Growing vehicle ownership in Passenger cars segment to rise at 4.9% CAGR during 2018-2025

October 11 20:15 2018

A research report published by Adroit Market Research on – “Global Automotive Refinish Coatings Market” covers industry trends, analysis, investment opportunities, statistic, segmentation, growth, market share, revenue, leading players, region, types and application.
The global automotive refinish coatings market size is poised to be worth US$ 9.24 billion by 2025. In terms of volume, the industry is set to rise ~1.3x times from period 2018 to 2025, according to study of Adroit Market Research.

Global Automotive Refinish Coatings Market 2018-2025: Automotive refinish coatings industry has stood out as a major emerging sector. For the automotive industry, paints and coatings are developed keeping in mind the quality and appealing value of the automotive. Timely repair and maintenance of vehicles is also important as they undergo harmful effects as a result of external factors such as temperature, harsh weather and damage due to rough roads.

Automotive refinish coating is a protective coating used to improve the durability and appearance of vehicles. In addition, coatings protect vehicles from severe weather conditions such as foreign particles or UV radiation that settle down on the vehicle’s surface. Automotive refinish coatings are alkyd, polyurethane or acrylic based coatings, amongst this acrylic is projected to grow at a faster pace due to the wide use of acrylics coatings in water-based solvents. By polymerizing acrylic acid or methacrylic, acrylic acid is produced which is used in adhesives, specialty coatings, and inks. Acrylic resins can be used in waterborne, organic solvent, radiation coatings, and thermoplastic. Thus, an increase in value for water-based coatings, is upsurging the growth of global automotive refinish coatings market.

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 However, growth of the market may be hampered due to strict rules formed by the Government for use of VOC (volatile organic compounds) coats. Nowadays, due to low levels of VOC, the market is focusing on water-borne refinish coatings. Increase in adoption of technologies, increase in economies and rise in accidents are the key factors scaling up the global automotive refinish coatings market growth.

Regional Overview:
Geographically, regions involved in the development of global automotive refinish coatings industry are LAMEA, Asia Pacific, China, Europe, and North America. North America accounts for the significant share in the global automotive refinish coatings market. On the basis of the vehicle manufacturer, the Chinese market for automobile is biggest across the globe increasing demand for automobiles in the market. Owing to the increase in a number of producers, India is anticipated to experience demand for global automotive refinish coatings market. Thus, the increase in manufactures of automobiles in regions such as India, China, and Thailand is expected to increase the demand for automotive refinish coatings market across the globe. However, increasing value for leisure automobiles in the developing regions of Europe and North America is anticipated to boost the automotive refinish coatings market size globally.

Market Players:
Companies focusing on the development of automotive refinish coatings market globally are Mitsui Chemicals, BASF SE, Akzo Nobel, Axalta Coating Systems, PPG Industries, Nippon Paints, and Sherwin Williams.

Find the graphical representations of Global Automotive Refinish Coatings Market

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
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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What does the report include?

  • The study on the global automotive refinish coatings market includes qualitative factors such as drivers, restraints, and opportunities
  • Additionally, the market has been evaluated using the value chain, PESTLE analysis and Porter’s Five Forces’ analysis
  • The study covers qualitative and quantitative analysis of the market segmented on the basis of product type, resin type, technology and vehicle type. Moreover, the study provides similar information for the key geographies.
  • Actual market sizes and forecasts have been provided for all the above-mentioned segments
  • The study includes the profiles of key players in the market with a significant global and/or regional presence

Reasons for the study

  • The study assesses the dynamics and movement of the global automotive refinish coatings market across various geographies
  • While studying the automotive paints market, we observed that automotive refinish coatings is an indispensable part of the automotive industry in which significant developments have been taking place
  • We also observed that the due to increasing vehicle maintenance and repair activities, the demand for refinish coatings is on the rise
  • The number of local manufacturers entering the global automotive refinish coatings market has been on the rise over the past few years, thus, making this product a favorable business opportunity, especially in fast growing marketplaces such as Asia Pacific and Latin America

About Us:

Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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