Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Automotive Refinish Coatings Market Outlook

The global automotive refinish coatings market size reached USD 10.90 billion in 2023. The market is expected to grow at a CAGR of 4.8% between 2024 and 2032, reaching almost USD 16.59 billion by 2032.

Global Automotive Refinish Coatings Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 10.90
Market Size 2032 USD Billion 16.59
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 4.8%
CAGR 2024-2032 - Market by Region Asia Pacific 5.5%
CAGR 2024-2032 - Market by Country India 6.4%
CAGR 2024-2032 - Market by Country UK 4.4%
CAGR 2024-2032 - Market by Technology UV-Cured Coatings 5.4%
CAGR 2024-2032 - Market by Vehicle Type Passenger Cars 5.3%
Market Share by Country 2023 Italy 2.9%

Key Takeaways

  • ACEA reported that in 2022, global motor vehicle production rose to 85.4 million units, a 5.7% increase from 2021, leading to the global automotive refinish coatings market growth.
  • In 2021, China's Ministry of Industry and Information Technology reported vehicle sales exceeding 26 million units, with 21.48 million being passenger vehicles, signalling a 7.1% increase from the prior year.
  • In North America and Europe, rising vehicle usage and purchases, including the buying of used vehicles, are driving demand for maintenance, repairs, and refinishing. This surge boosts the need for coatings to enhance vehicle appearance.

Automotive refinish coatings are tailored coatings designed for the restoration and repair of vehicle exteriors. These coatings are personalized to rejuvenate vehicles affected by accidents, scratches, weathering, or regular wear. They serve to establish a protective layer that restores the vehicle's original appearance, ensuring both its aesthetic appeal and defense against environmental factors.

As per the global automotive refinish coatings market report, these coatings are designed to meet specific standards such as precise colour matching to the vehicle's original shade, resistance to UV exposure, durability against moisture and chemicals, and easy application. Automotive refinish coatings are available in various types such as basecoats, clearcoats, primers, and sealers. Each type serves a distinct role in the refinishing process.

According to the European Automobile Manufacturers Association (ACEA), global motor vehicle production reached 85.4 million units in 2022, reflecting a 5.7% increase from 2021. This rise in production has resulted in increased demand, consequently driving the global automotive refinish coatings market size.

Global Automotive Refinish Coatings Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Trends and Developments

The global automotive refinish coatings market growth is being propelled by the emphasis on sustainability, the integration of advanced digital technologies, the trend towards customization and specialization, and the focus on regulatory compliance and safety.

February 2024

INEOS Automotive and BASF's Coatings division have inked a global deal on automotive refinish body and paint development, aiming for long-term strategic collaboration and surpassing industry standards.

October 2023

PPG Asian Paints, a prominent automotive refinish solutions provider in India, announced the launch of its premium car detailing and décor venture, 'Cartisan,' with the opening of its flagship centre in Pune.

October 2023

PPG revealed the launch of GLADIATOR XC Matte Extreme coating by its SEM Products division, a high-quality, low-gloss urethane protective coating suitable for various industries and applications.

July 2023

Leading paints and coatings manufacturers in the Middle East, with government approval, formed the Middle East Paints and Coatings Association (MEPCA).

Sustainability Drive

The automotive refinish coatings sector is increasingly prioritizing sustainability, aiming to minimize carbon footprints by utilizing eco-friendly materials. Investments in water-based, low-VOC coatings, recycling initiatives, and renewable sources align with consumer preferences for environmentally conscious products, while also meeting strict regulatory standards, thus contributing to the global automotive refinish coatings market.

Digital Transformation

The global automotive refinish coatings market developments are attributed to the technological advancements that are reshaping the sector, bringing in digital colour-matching systems, AI-based application tools, and smart coatings. These innovations improve efficiency, accuracy, and speed, reduce errors, and elevate the overall quality of the refinishing process.

Customization and Specialization

As the desire for customized aesthetics rises, coatings are increasingly customized to suit vehicle models, colours, and textures. This trend addresses varied customer tastes, such as bespoke finishes, matte coatings, metallic effects, and other distinctive choices, fostering innovation within the global automotive refinish coatings market.

Compliance and Safety

Stringent regulations on emissions and safety standards are driving the advancement of compliant coatings. Manufacturers are dedicated to producing products that meet or surpass these regulations, guaranteeing environmental accountability and safeguarding the well-being of workers and consumers alike.

Global Automotive Refinish Coatings Market Trends

As per the global automotive refinish coatings market report, the continuously growing demand for vehicle maintenance and refurbishment is pushing the market. With increasing vehicle ownership worldwide, there's a corresponding increase in the requirement for repair and refinishing coatings to restore vehicles to their original appearance and functionality.

Moreover, the expansion of the used car market is driving up demand for automotive refinish coatings, as consumers seek to enhance the visual appeal and value of used vehicles.

Global Automotive Refinish Coatings Market by Segments

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Segmentation

Global Automotive Refinish Coatings Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

  • Basecoat
  • Primer
  • Activator
  • Topcoat 
  • Filler
  • Others

Market Breakup by Technology

  • Solvent-Borne Coatings
  • UV-Cured Coatings
  • Water-Borne Coatings

Market Breakup by Resin

  • Polyurethane
  • Alkyd
  • Acrylic
  • Others

Market Breakup by Vehicle Type

  • Passenger Cars
  • Commercial Vehicles
  • Others

Market Breakup by Region       

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
CAGR 2024-2032 - Market by Country
India 6.4%
UK 4.4%
USA 4.3%
Germany 4.0%
Australia 3.8%
Canada XX%
France 3.8%
Italy XX%
China XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%
Japan 3.3%

The global automotive refinish coatings market growth is driven by polyurethane coatings, which play a significant role in maintaining the appearance and protection of refinished vehicles over time

Polyurethane coatings present a wide range of options in appearance and finish. They can be tailored to deliver gloss, matte, or diverse textured finishes, enabling customization to suit the desired aesthetics of various vehicles.

Acrylic resins offer enhanced stain protection, superior water resistance, improved adhesion, increased resistance to cracking and blistering, and durability.

Based on product type, the global automotive refinish coatings market share is led by basecoat

Automotive enthusiasts and individuals pursuing personalized aesthetics greatly appreciate the array of colour options and finishes offered by Basecoat.

The filler plays a crucial role in modifying the rheological characteristics of the coating, such as thickening and preventing settling, while also enhancing the mechanical strength of the coating film, including improving wear resistance and durability.

The global automotive refinish coatings market is driven by solvent-borne coatings due to their outstanding durability and ability to deliver a high-quality finish

Solvent-borne coatings generally offer better adhesion, corrosion resistance, and colour retention in comparison to alternative options.

Manufacturers often opt for UV-cured coatings as they enhance gloss and provide superior resistance against abrasion and scratches.

Global Automotive Refinish Coatings Market by Region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

The market players are enhancing the global automotive refinish coatings market with their specialization in a wide range of products, including automotive coatings, tapes, and adhesives.

Akzo Nobel N.V., founded in 1792, Akzo Nobel is headquartered in the Netherlands and stands as a global powerhouse in paints, coatings, and speciality chemicals. With iconic brands like Dulux and Sikkens, the company operates across 150 countries, prioritizing innovation, and sustainability.

3M Company, established in 1902, 3M is a multinational conglomerate based in the United States. It specializes in a diverse array of products ranging from automotive coatings to tapes, adhesives, and healthcare solutions. 3M places a strong emphasis on cutting-edge innovation and research.

BASF SE founded in 1865, BASF is a leading chemical corporation headquartered in Germany. The company offers an extensive portfolio of products, including coatings, plastics, chemicals, and agricultural solutions. BASF serves industries worldwide, committing to sustainability and pioneering innovation.

Berger Paints India Limited, founded in 1923 and headquartered in India, Berger Paints is among the nation's largest paint companies. Known for its quality and innovative solutions, the company provides a broad range of coatings for residential, commercial, and industrial applications, maintaining a significant presence in South Asia.

Other key players in global automotive refinish coatings market are KCC Corporation, NIPSEA Group, Axalta Coating Systems Ltd., PPG Industries, Inc., The Sherwin-Williams Company, Kansai Paint Co., Ltd., Esdee Paints Limited, KAPCI Coatings Systems, LLC, Angel Coating Pvt Ltd, Troton Canada Inc., WEG S.A., S.Coat Co., Ltd., and Heinrich van Megen GmbH & Co. KG, among others.

Global Automotive Refinish Coatings Market Analysis by Region

Based on region, the global automotive refinish coatings market share is led by Asia Pacific, especially in countries such as India, China, and Japan, rapid economic development has resulted in higher disposable incomes and urbanisation. This has led to a rise in vehicle ownership rates, driving the demand for automotive refinish coatings.

According to statistics from the Ministry of Industry and Information Technology in China, vehicle sales in 2021 surpassed 26 million units, with passenger vehicles accounting for 21.48 million, marking a 7.1% rise from the previous year.

Similarly, North America and Europe are also witnessing growing demand due to increased vehicle usage and purchases, including the acquisition of used vehicles. This trend drives the need for maintenance, repairs, and refinishing, consequently boosting the demand for coatings that restore and enhance vehicle appearance.

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:

  • Product Type
  • Technology
  • Resin
  • Vehicle Type
  • Region
Breakup by Product Type
  • Basecoat
  • Primer
  • Activator
  • Topcoat
  • Filler
  • Others
Breakup by Technology
  • Solvent-Borne Coatings
  • UV-Cured Coatings
  • Water-Borne Coatings
Breakup by Resin
  • Polyurethane
  • Alkyd
  • Acrylic
  • Others
Breakup by Vehicle Type
  • Passenger Cars
  • Commercial Vehicles
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter’s Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Akzo Nobel N.V.
  • 3M Company
  • BASF SE
  • Berger Paints India Limited
  • KCC Corporation
  • NIPSEA Group
  • Axalta Coating Systems Ltd. 
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Kansai Paint Co.,Ltd. 
  • Esdee Paints Limited
  • KAPCI Coatings Systems, LLC
  • Angel Coating Pvt Ltd
  • Troton Canada Inc.
  • WEG S.A.
  • S.Coat Co., Ltd. 
  • Heinrich van Megen GmbH & Co. KG
  • Others
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.

*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.*

Looking for specific insights?

Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!

Key Questions Answered in the Report

The market was valued at USD 10.90 billion in 2023.

The market is projected to grow at a CAGR of 4.8% between 2024 and 2032.

The revenue generated from the automotive refinish coatings market is expected to reach USD 16.59 billion in 2032.

The automotive refinish coatings market is being propelled by the emphasis on sustainability, the integration of advanced digital technologies, the trend towards customization and specialization, and the focus on regulatory compliance and safety.

The automotive refinish coatings market is categorised according to its product type, which includes basecoats, primer, activators, topcoat, fillers, and others.

The major players in the market, are Akzo Nobel N.V., 3M Company, BASF SE, Berger Paints India Limited, KCC Corporation, NIPSEA Group, Axalta Coating Systems Ltd., PPG Industries, Inc., The Sherwin-Williams Company, Kansai Paint Co., Ltd., Esdee Paints Limited, KAPCI Coatings Systems, LLC, Angel Coating Pvt Ltd, Troton Canada Inc., WEG S.A., S.Coat Co., Ltd., and Heinrich van Megen GmbH & Co. KG, among others.

Based on the technology, the automotive refinish coatings market is divided into solvent-borne coatings, UV-cured coatings, and water-borne coatings.

The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

Back to top

We’re here to help answer any questions about our products and services.

Contact us

Locations


United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124