Reports

Global Automotive Refinish Coatings Market to Reach Nearly USD 12.8 Billion by 2027, Driven by the Growing Focus on Automobile Repair and Maintenance

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 (2018-2028); 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 2023-2028 to reach a value of around USD 12.8 billion by 2027.

 

Global Automotive Refinish Coatings Market

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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).

 

Global Automotive Refinish Coatings Market by Segments

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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.

 

Global Automotive Refinish Coatings Market by Region

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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 2022
Historical Period 2018-2022
Forecast Period 2023-2028
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
  • Porter's Five Forces
  • 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
  • Others
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*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 (2018-2022) 
    8.3    Global Automotive Refinish Coatings Market Forecast (2023-2028)
    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 (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Primer
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Activator
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Topcoat 
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Filler 
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2022)
            8.4.5.3    Forecast Trend (2023-2028)
        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 (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    UV-Cured Coatings
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Water-Borne Coatings
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    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 (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Alkyd
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Acrylic
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        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 (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Commercial Vehicles
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        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 (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Automotive Refinish Coatings Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Automotive Refinish Coatings Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Automotive Refinish Coatings Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Automotive Refinish Coatings Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    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 (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    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, 2018 and 2028
2.    Global Automotive Refinish Coatings Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3.    Global Automotive Refinish Coatings Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4.    Global Automotive Refinish Coatings Historical Market: Breakup by Technology (USD Billion), 2018-2022
5.    Global Automotive Refinish Coatings Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6.    Global Automotive Refinish Coatings Historical Market: Breakup by Resin (USD Billion), 2018-2022
7.    Global Automotive Refinish Coatings Market Forecast: Breakup by Resin (USD Billion), 2023-2028
8.    Global Automotive Refinish Coatings Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2022
9.    Global Automotive Refinish Coatings Market Forecast: Breakup by Vehicle Type (USD Billion), 2023-2028
10.    Global Automotive Refinish Coatings Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Automotive Refinish Coatings Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Automotive Refinish Coatings Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Automotive Refinish Coatings Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Global Automotive Refinish Coatings Market Structure

Key Questions Answered in the Report

What was the global automotive refinish coatings market size in 2021?

In 2021, the global automotive refinish coatings market attained a value of nearly USD 9.6 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 4.90% between 2023 and 2028.

What is the forecast outlook of the market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 12.8 billion by 2027.

What are the major industry drivers?

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.

What are the key industry trends in the global automotive refinish coatings market?

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.

What are the major regional markets of the automotive refinish coatings, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the different types of products in the market?

The major product types include basecoat, primer, activator, topcoat, and filler, among others.

What are the various technologies involved in the market?

The various technologies involved in the market are solvent-borne coatings, UV-cured coatings, and water-borne coatings.

What are the segments based on the resin in the market?

Based on resin, the market is divided into polyurethane, alkyd, and acrylic, among others.

What are the different types of vehicles in the market?

The different types of vehicles are passenger cars and commercial vehicles, among others.

Who are the key industry players, according to the report?

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 2023-2028, 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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