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Pulished Date February, 2020
ID: 9236
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Global Automotive Refinish Coatings Market Research Report - Segmentation on Product (Primer, Basecoat, Clearcoat, Activator, Filler & Putty, and Others), Technology (Solvent-borne Coatings, Water-borne Coatings, and UV-cured Coatings), Resin Type (Polyurethane, Alkyd, Acrylic, and Others), Distribution Channels (Automotive OEMs and Aftermarket), Vehicle Type (Passenger Cars, Commercial Vehicles, and Two Wheelers), and Geography (North America, Asia Pacific, Europe, Latin America, Middle-East & Africa) - Global Industry Size, Share, Demand, Strategy, Competition, Growth, Profits & Forecast Report | 2020 - 2025

Pulished: February, 2020
ID: 9236
Pages: 180

Automotive Refinish Coatings Market Size & Growth (2020 – 2025)

The global Automotive Refinish Coatings Market size is anticipated to grow and valued around USD 11.34 billion by 2026, recording the CAGR of 3.8%. Automotive refinishing coatings are applied by the end-users, to solve the growing need for day to day maintenance and servicing of vehicles to enhance the look and durability of the vehicles by protecting them from damages from the harsh temperatures and UV radiation.

The growth of the global market is attributed to increasing disposable income, changing lifestyle and buying behavior of people, the demand for luxury vehicles from the segment. Also, the advancements and innovations in coatings, such as high-tech and eco-friendly coating materials having lower solvent content and growing usage of refinish coatings for automotive maintenance, repair, & aftermarket painting on account of visual appearance, surface protection, and resistance to corrosion, temperature, extreme weather, heat, and water are the growth factors of the market.

Moreover, the account of rising vehicle ownership in developing economies such as China, India, Mexico, South Korea, and Brazil is fuelling the growth of the automotive refinish coatings market. Also, expanding consumer base in Asia-Pacific and Middle East countries of automotive refinish coatings manufacturer is the factor that is likely to propel the market during the forecast period.

But, the stringent rules and regulations regarding various VOC-containing products because of the emission of VOCs causing air pollution and smog are hampering the growth of the global automotive refinish coatings market.

Recent Developments

  • Nippon Paints, one of the largest paint manufacturers,' Indian unit have signed MoU with Snapdeal, an e-commerce company, to offer a range of car care products.

  • PPG Industries Inc., an American Fortune 500 company and global supplier of paints, coatings, and specialty materials, has dealt to acquire Alpha Coating Technologies, LLC (Alpha). The financial terms of the deal have been kept silent, and the acquisition is going to end by first-quarter 2020.

  • Sherwin-Williams Company, an American Fortune 500 company in the general building materials industry, builds new global headquarters in Cleveland with an R&D center in Brecksville, and it is expected to be approximately 500,000 square feet.

Drivers and Restraints of Automotive Refinish Coatings Market

The increase in consumer disposable income, changes in existing lifestyle, and buying patterns of users, the demand for luxury care are among the significant factors for the growth of the market. Also, the developments and innovations in coatings, such as high-tech and eco-friendly coating materials having lower solvent content and growing usage of refinish coatings for automotive maintenance are propelling the global automotive refinish coatings market.

The use of VOC-containing products leads to the emission of VOCs, causing air pollution and smog, due to which governments of many countries have implemented a series of control measures as prevention. As a result, these stringent rules & regulations regarding various VOC-containing products is one of the factors restraining the growth of the market.

Market Segmentation

Global Automotive Refinish Coatings Market by Product 

• Primer

• Basecoat

• Clearcoat

• Activator

• Filler & Putty

• Others

Global Automotive Refinish Coatings Market by Technology

• Solvent-borne Coatings

• Water-borne Coatings

• UV-cured Coatings

In the technological outlook of global automotive refinish coatings market, solvent-borne technology accounted for 49.6% share of the worldwide volume and has acquired a considerable share in terms of revenue. But the segment is expected to witness slow growth attributed to the stringent regulations on VOC emission levels. However, advancements in technologies and innovations have led to an increase in high solid formulations.

And, the UV-cured technology is foreseen to expand and anticipated to record a CAGR of 5.8% in terms of volume over the forecast period on account of its availability in a custom color, fast cure time, and outstanding performance at a low price. This increased usage of this technology is likely to boost its demand and strength the opportunities in the market.

Global Automotive Refinish Coatings Market by Resin Type

• Polyurethane

• Alkyd

• Acrylic

• Others

By the resin types of automotive refinish coatings, polyurethane has acquired most of the global market since 2015 and continued to be grown. It is presumed to account for a CAGR of 44.2% in the coming years. The tremendous growth of this segment is attributed to superior properties, including excellent performance in various environmental conditions and resistance to extreme temperatures.

Global Automotive Refinish Coatings Market by Distribution Channels 

• Automotive OEMs

• Aftermarket

Global Automotive Refinish Coatings Market by Vehicle Type 

• Passenger Cars

• Commercial Vehicles

• Two Wheelers

In the vehicle type outlook of global automotive refinish coatings business, passenger cars are leading the overall revenue share. The growth of this segment owes to the increase in the automotive industry developments in passenger cars and the increasing purchasing of them. Moreover, in the next few years, it is evident that the commercial vehicles segment will offer fierce competition to the passenger section.

Automotive Refinish Coatings Market Regional Analysis

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

In the regional segmentation of the global automotive refinish coatings market, the Asia-Pacific region acquired 42.3% of the market share due to the robust infrastructure in its fastest-growing economies like China and India. The APAC region is also estimated to witness the highest growth rate in the foreseen years.

Key Players of Automotive Refinish Coatings Market

  • Axalta Coating Systems

  • Covestro

  • BASF SE

  • Kansai Paint Co. Ltd.

  • NOROO Paint & Coatings

  • Mitsui Chemicals

  • PPG Industries  Inc.

  • Nippon Paints

  • Sherwin Williams

  • 3M Co.

  • TCI Powder

  • The Lubrizol and Matrix System Automotive Finishes

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Automotive Refinish Coatings Market, By Product                     

                                6.1.1 Primer      

                                6.1.2 Basecoat  

                                6.1.3 Clearcoat 

                                6.1.4 Activator  

                                6.1.5 Filler & Putty          

                                6.1.6 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.7 Y-o-Y Growth Rate Analysis              

                                6.1.8 Market Attractiveness Index           

                6.2 Automotive Refinish Coatings Market, By Technology                              

                                6.2.1 Solvent-borne Coatings     

                                6.2.2 Water-borne Coatings       

                                6.2.3 UV-cured Coatings              

                                6.2.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.5 Y-o-Y Growth Rate Analysis              

                                6.2.6 Market Attractiveness Index           

                6.3 Automotive Refinish Coatings Market, By Resin Type               

                                6.3.1 Polyurethane        

                                6.3.2 Alkyd         

                                6.3.3 Acrylic       

                                6.3.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.5 Y-o-Y Growth Rate Analysis              

                                6.3.6 Market Attractiveness Index           

                6.4 Automotive Refinish Coatings Market, By Distribution Channel                            

                                6.4.1 Automotive OEMs

                                6.4.2 Aftermarket           

                                6.4.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.4.4 Y-o-Y Growth Rate Analysis              

                                6.4.5 Market Attractiveness Index           

                6.5 Automotive Refinish Coatings Market, By Vehicle Type                           

                                6.5.1 Passenger Cars      

                                6.5.2 Commercial Vehicles          

                                6.5.3 Two Wheelers       

                                6.5.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.5.5 Y-o-Y Growth Rate Analysis              

                                6.5.6 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Product              

                                7.2.3 By Technology       

                                7.2.4 By Resin Type        

                                7.2.5 By Distribution Channel     

                                7.2.6 By Vehicle Type    

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Product              

                                7.3.3 By Technology       

                                7.3.4 By Resin Type        

                                7.3.5 By Distribution Channel     

                                7.3.6 By Vehicle Type    

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Product              

                                7.4.3 By Technology       

                                7.4.4 By Resin Type        

                                7.4.5 By Distribution Channel     

                                7.4.6 By Vehicle Type    

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Product              

                                7.5.3 By Technology       

                                7.5.4 By Resin Type        

                                7.5.5 By Distribution Channel     

                                7.5.6 By Vehicle Type    

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Product              

                                7.6.3 By Technology       

                                7.6.4 By Resin Type        

                                7.6.5 By Distribution Channel     

                                7.6.6 By Vehicle Type    

8. Key Player Analysis                                    

                8.1 Axalta Coating Systems                         

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Covestro AG                              

                8.3 BASF SE                        

                8.4 Kansai Paint Co. Ltd.               

                8.5 NOROO Paint & Coatings                      

                8.6 Mitsui Chemicals                      

                8.7 PPG Industries  Inc.                 

                8.8 Nippon Paints                            

                8.9 Sherwin Williams                      

                8.10 3M Company                          

                8.11 TCI Powder                              

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • The segment-level analysis in terms of by type, application, end-use,along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development

  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

Global Automotive Refinish Coatings Market By Region, From 2020-2025 ( USD Billion )

Global Automotive Refinish Coatings Market By Product, From 2020-2025 ( USD Billion )

Global Primer Market By Region, From 2020-2025 ( USD Billion )

Global Basecoat Market By Region, From 2020-2025 ( USD Billion )

Global Clearcoat Market By Region, From 2020-2025 ( USD Billion )

Global Activator Market By Region, From 2020-2025 ( USD Billion )

Global Filler & Putty Market By Region, From 2020-2025 ( USD Billion )

Global Automotive Refinish Coatings Market By Technology, From 2020-2025 ( USD Billion )

Global Solvent-borne Coatings Market By Region, From 2020-2025 ( USD Billion )

Global Water-borne Coatings Market By Region, From 2020-2025 ( USD Billion )

Global UV-cured Coatings Market By Region, From 2020-2025 ( USD Billion )

Global Automotive Refinish Coatings Market By Resin Type, From 2020-2025 ( USD Billion )

Global Polyurethane Market By Region, From 2020-2025 ( USD Billion )

Global Alkyd Market By Region, From 2020-2025 ( USD Billion )

Global Acrylic Market By Region, From 2020-2025 ( USD Billion )

Global Automotive Refinish Coatings Market By Distribution Channel, From 2020-2025 ( USD Billion )

Global Automotive OEMs Market By Region, From 2020-2025 ( USD Billion )

Global Aftermarket Market By Region, From 2020-2025 ( USD Billion )

Global Automotive Refinish Coatings Market By Vehicle Type, From 2020-2025 ( USD Billion )

Global Passenger Cars Market By Region, From 2020-2025 ( USD Billion )

Global Commercial Vehicles Market By Region, From 2020-2025 ( USD Billion )

Global Two Wheelers Market By Region, From 2020-2025 ( USD Billion )

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