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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Africa Automotive Refinish Coatings Market Outlook
The Africa automotive refinish coatings market size attained a value of USD 153.09 million in 2023. The market is further expected to grow at a CAGR of 4.70% between 2024 and 2032, reaching a value of USD 231.06 million by 2032.
Key Trends in the Market
An automotive refinish coating refers to a type of automotive coating which is applied to already manufactured automotives to refinish and refurbish the vehicle. This type of coating can be used to repair vehicles, add protection, and boost the aesthetic appeal of the vehicle.
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- The growth trajectory attained by the automotive sector in the Africa region is the driving force of Africa automotive refinish coatings market growth. Growing expansion of automotive companies is leading to a stronger demand for automotive refinishing.
- Changing preference of consumers towards vehicles with high aesthetic appeal, greater resistance to weather and chemicals, is one of the crucial Africa automotive refinish coatings market trends. This is supported by improving standards of living across emerging economies like Nigeria, Egypt, and South Africa, among others.
Africa Automotive Refinish Coatings Market Analysis
Based on resin type, the Africa automotive refinish coatings market segmentation is polyurethane, alkyd, and acrylic, among others. On the basis of product type, the market is classified into primer, basecoat, activator, filler, and topcoat, among others. By technology, the market is divided into solvent-borne, water-borne, and UV-cured, among others. Based on vehicle type, the market is categorised into passenger cars, and commercial vehicles, among others. The major countries in the automotive refinish coatings market in Africa include Nigeria, South Africa, Egypt, and Kenya, among others.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the Africa automotive refinish coatings market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Axalta Coating Systems South Africa (Pty) Ltd
- 3M Company
- Akzo Nobel N.V.
- James Briggs Ltd.
- The Sherwin Williams Company
- The Dow Chemical Company
- Kansai Paint Co.
- Covestro AG
- Vican Manufacturing
- LUBRIZOL SA (PTY) LTD
- Others
Africa Automotive Refinish Coatings Market Share by Resin Type
The acrylic segment, based on resin type, accounts for a healthy share of the Africa automotive refinish coatings market. Coatings made up of this type of resin offer excellent resistance to weather and hydrolysis, and retain gloss and colour which improves the overall look of an automobile. The versatility and performance of acrylic coatings are further propelling their growth in the market and the overall Africa automotive refinish coatings market demand.
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Competitive Landscape
Axalta Coating Systems South Africa (Pty) Ltd is a leading company which develops, manufactures, and sells diverse performance and transportation coatings across the globe. It was founded in 1866 and is headquartered in Midrand, South Africa.
3M Company is a multinational conglomerate company which manufactures and distributes industrial products and solutions. The company was established in 1902 and is headquartered in Minnesota, United States.
Akzo Nobel N.V. is a renowned paint and coating manufacturing company which develops high-quality paints and performance coatings. The company was founded in 1994 and is currently headquartered in Amsterdam in the Netherlands.
Other market players include James Briggs Ltd., The Sherwin Williams Company, The Dow Chemical Company, Kansai Paint Co., Covestro AG, Vican Manufacturing, and LUBRIZOL SA (PTY) LTD, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Resin Type |
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| Breakup by Product Type |
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| Breakup by Technology |
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| Breakup by Vehicle Type |
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| Breakup by Country |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 153.09 million in 2023.
The market is estimated to grow at a CAGR of 4.70% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 231.06 million by 2032.
The growing automotive sector in the Africa region, improving standards of living across emerging economies, and increasing demand for vehicles are the major drivers of the market.
The key trends in the market include the growing innovations and research activities, increasing awareness of the advantages of refurbished vehicles, and rising preferences of consumers towards vehicles with aesthetic appeal.
Nigeria, South Africa, Egypt, and Kenya, among others, are the major countries in the automotive refinish coatings market in Africa.
Polyurethane, alkyd, and acrylic, among others, are the different resin types of automotive refinish coatings in the market.
Primer, basecoat, activator, filler, and topcoat, among others, are the major product types of automotive refinish coatings in the market.
Axalta Coating Systems South Africa (Pty) Ltd, 3M Company, Akzo Nobel N.V., James Briggs Ltd., The Sherwin Williams Company, The Dow Chemical Company, Kansai Paint Co., Covestro AG, Vican Manufacturing, and LUBRIZOL SA (PTY) LTD, among others, are the key market players, according to the report.
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