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Global Automotive Refinish Coatings Market: By Product Type: Basecoat, Primer, Activator, Topcoat , Filler, Others; By Technology: Solvent-Borne Coatings, Others; By Resin; By Vehicle Type; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Automotive Refinish Coatings Market Outlook
The global automotive refinish coatings market reached a value of about USD 9.6 billion in 2021. The industry is further expected to grow at a CAGR of about 4.90% in the forecast period of 2022-2027 to reach a value of around USD 12.8 billion by 2027.
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Asia Pacific to be a Significant Regional Market for Automotive Refinish Coatings
The Asia Pacific region is among the largest consumers of refinish coatings due to the robust automotive manufacturing base in China, Japan, and India, growing cab services, increasing sales of pre-owned vehicles, along with increasing vehicle repair and body shops in the region. Underdeveloped road networks, lack of effective safety rules, and the rising demand for vehicle maintenance, repair, and modification are anticipated to have a favourable impact on the industry in the coming years.
Over the forecast period, increasing utilisation of old refurbished automobiles due to lifestyle trends is expected to increase the product demand. The rising demand for maintenance of luxury vehicles and performance vehicles and increase in disposable income in the region on account of the mature oil and gas industry has ascended the sale of luxury vehicles in the region. Rising awareness about the importance of protection provided by paints on automobile bodies from surface damage and scratches has fuelled the region's automotive refinish coatings industry growth. China is expected to see rapid growth due to an increase in road accidents and increased car ownership. Vehicle sales are projected to increase due to rapid development and modernisation throughout the forecast period.
Automotive Refinish Coatings: Market Segmentation
Polyurethane, acrylic, and alkyd-based coatings are utilised in automotive refinish coatings in automobile body shops and repair centres. These coatings protect the bodies of new and old passenger and commercial cars from damage caused by excessive temperatures, accidents, and stone impacts. Primer, filler, topcoat, the basecoat, and activator or hardener coatings are the most often used refinish coatings. They can be cured using solvents, water, or ultraviolet light (UV).
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By product type, the market includes:
- Basecoat
- Primer
- Activator
- Topcoat
- Filler
- Others
The various technologies involved in the market are:
- Solvent-Borne Coatings
- UV-Cured Coatings
- Water-Borne Coatings
Based on resin, the market is divided into:
- Polyurethane
- Alkyd
- Acrylic
- Others
Based on vehicle type, the market is segmented into:
- Passenger Cars
- Commercial Vehicles
- Others
The regional markets for the automotive refinish coatings industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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Increasing Requirements for Repair and Maintenance Propelling the Market Growth
One of the key factors contributing to the market's favourable outlook is the global growth of the automobile industry. An increase in the cases of road accidents and collisions has increased the demand for repair and maintenance services, boosting the market growth. As a result, there is an increase in consumer preference for customised aftermarket automobile modifications. Automotive refining coatings offer improved aesthetic appeal, surface protection, heat, temperature, and corrosion resistance. Several product innovations, such as the development of environment-friendly refinish coatings, are acting as other growth-inducing factors. These coatings are manufactured using organic chemicals and have a custom colour, faster cure time, and minimal VOC emissions. Other factors, including the rising expenditure capacities of consumers and the growing demand for recreational vehicles, are anticipated to drive the market further. Rising disposable incomes and a growing preference for aftermarket car modifications are driving the automotive refinish coatings industry. The rising usage of high solid formulations in the automotive industry, which provide a high-quality finish and lower emissions, is also a potential opportunity for the automotive refinish coatings industry.
Key Industry Players in the Global Automotive Refinish Coatings Market
The report gives a detailed analysis of the following key players in the global automotive refinish coatings industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Akzo Nobel N.V.
- 3M Company
- BASF SE
- Berger Paints India Limited
- KCC Corporation
- NIPSEA Group
- Others
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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2021 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Technology |
|
| Breakup by Resin |
|
| Breakup by Vehicle Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Automotive Refinish Coatings Market Analysis
8.1 Key Industry Highlights
8.2 Global Automotive Refinish Coatings Historical Market (2017-2021)
8.3 Global Automotive Refinish Coatings Market Forecast (2022-2027)
8.4 Global Automotive Refinish Coatings Market by Product Type
8.4.1 Basecoat
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Primer
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Activator
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Topcoat
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.4.5 Filler
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2017-2021)
8.4.5.3 Forecast Trend (2022-2027)
8.4.6 Others
8.5 Global Automotive Refinish Coatings Market by Technology
8.5.1 Solvent-Borne Coatings
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 UV-Cured Coatings
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.5.3 Water-Borne Coatings
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.6 Global Automotive Refinish Coatings Market by Resin
8.6.1 Polyurethane
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Alkyd
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Acrylic
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Others
8.7 Global Automotive Refinish Coatings Market by Vehicle Type
8.7.1 Passenger Cars
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2017-2021)
8.7.1.3 Forecast Trend (2022-2027)
8.7.2 Commercial Vehicles
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2017-2021)
8.7.2.3 Forecast Trend (2022-2027)
8.7.3 Others
8.8 Global Automotive Refinish Coatings Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2017-2021)
8.8.1.3 Forecast Trend (2022-2027)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2017-2021)
8.8.2.3 Forecast Trend (2022-2027)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2017-2021)
8.8.3.3 Forecast Trend (2022-2027)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2017-2021)
8.8.4.3 Forecast Trend (2022-2027)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2017-2021)
8.8.5.3 Forecast Trend (2022-2027)
9 North America Automotive Refinish Coatings Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2017-2021)
9.1.3 Forecast Trend (2022-2027)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2017-2021)
9.2.3 Forecast Trend (2022-2027)
10 Europe Automotive Refinish Coatings Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2017-2021)
10.1.3 Forecast Trend (2022-2027)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2017-2021)
10.2.3 Forecast Trend (2022-2027)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2017-2021)
10.3.3 Forecast Trend (2022-2027)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2017-2021)
10.4.3 Forecast Trend (2022-2027)
10.5 Others
11 Asia Pacific Automotive Refinish Coatings Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2017-2021)
11.1.3 Forecast Trend (2022-2027)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2017-2021)
11.2.3 Forecast Trend (2022-2027)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2017-2021)
11.3.3 Forecast Trend (2022-2027)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2017-2021)
11.4.3 Forecast Trend (2022-2027)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2017-2021)
11.5.3 Forecast Trend (2022-2027)
11.6 Others
12 Latin America Automotive Refinish Coatings Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2017-2021)
12.1.3 Forecast Trend (2022-2027)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2017-2021)
12.2.3 Forecast Trend (2022-2027)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2017-2021)
12.3.3 Forecast Trend (2022-2027)
12.4 Others
13 Middle East and Africa Automotive Refinish Coatings Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2017-2021)
13.1.3 Forecast Trend (2022-2027)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2017-2021)
13.2.3 Forecast Trend (2022-2027)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2017-2021)
13.3.3 Forecast Trend (2022-2027)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2017-2021)
13.4.3 Forecast Trend (2022-2027)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Akzo Nobel N.V.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 3M Company
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 BASF SE
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Berger Paints India Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 KCC Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 NIPSEA Group
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Automotive Refinish Coatings Market: Key Industry Highlights, 2017 and 2027
2. Global Automotive Refinish Coatings Historical Market: Breakup by Product Type (USD Billion), 2017-2021
3. Global Automotive Refinish Coatings Market Forecast: Breakup by Product Type (USD Billion), 2022-2027
4. Global Automotive Refinish Coatings Historical Market: Breakup by Technology (USD Billion), 2017-2021
5. Global Automotive Refinish Coatings Market Forecast: Breakup by Technology (USD Billion), 2022-2027
6. Global Automotive Refinish Coatings Historical Market: Breakup by Resin (USD Billion), 2017-2021
7. Global Automotive Refinish Coatings Market Forecast: Breakup by Resin (USD Billion), 2022-2027
8. Global Automotive Refinish Coatings Historical Market: Breakup by Vehicle Type (USD Billion), 2017-2021
9. Global Automotive Refinish Coatings Market Forecast: Breakup by Vehicle Type (USD Billion), 2022-2027
10. Global Automotive Refinish Coatings Historical Market: Breakup by Region (USD Billion), 2017-2021
11. Global Automotive Refinish Coatings Market Forecast: Breakup by Region (USD Billion), 2022-2027
12. North America Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2017-2021
13. North America Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Europe Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Europe Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Asia Pacific Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Asia Pacific Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Latin America Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Latin America Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2022-2027
20. Middle East and Africa Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2017-2021
21. Middle East and Africa Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2022-2027
22. Global Automotive Refinish Coatings Market Structure
Key Questions Answered in the Report
In 2021, the global automotive refinish coatings market attained a value of nearly USD 9.6 billion.
The market is projected to grow at a CAGR of 4.90% between 2022 and 2027.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 12.8 billion by 2027.
The major drivers of the market include the growing cab services, increasing sales of pre-owned vehicles, increasing requirements for repair and maintenance, increase in consumer preference for customised aftermarket automobile modifications, rising expenditure capacities of consumers, and growing demand for recreational vehicles, and rising disposable income.
The growth of the automobile industry and an increase in the cases of road accidents and collisions are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major product types include basecoat, primer, activator, topcoat, and filler, among others.
The various technologies involved in the market are solvent-borne coatings, UV-cured coatings, and water-borne coatings.
Based on resin, the market is divided into polyurethane, alkyd, and acrylic, among others.
The different types of vehicles are passenger cars and commercial vehicles, among others.
The major players in the industry are Akzo Nobel N.V., 3M Company, BASF SE, Berger Paints India Limited, KCC Corporation, and NIPSEA Group, among others.
Analyst Review
The global automotive refinish coatings market attained a value of USD 9.6 billion in 2021, driven by the increasing requirements for repair and maintenance. Aided by the growth of the automobile industry and an increase in the cases of road accidents and collisions, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4.90%. The market is projected to reach USD 12.8 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The major product types include basecoat, primer, activator, topcoat, and filler, among others. The various technologies involved in the market are solvent-borne coatings, UV-cured coatings, and water-borne coatings. Based on resin, the market is divided into polyurethane, alkyd, and acrylic, among others. The different types of vehicles are passenger cars and commercial vehicles, among others. The major regional markets for automotive refinish coatings are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the global automotive refinish coatings market are Akzo Nobel N.V., 3M Company, BASF SE, Berger Paints India Limited, KCC Corporation, and NIPSEA Group, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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