Asia-Pacific Automotive Refinish Coatings Market, By Product Type (Primer, Basecoat, Clearcoat, Activator, Filler & Putty), Resin (Polyurethane, Alkyd, Acrylic) Technology (Solvent-borne Coatings, Water-borne Coatings, UV-cured Coatings), Vehicle Type (Passenger Cars, Commercial Vehicles, Others), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific)- Industry Trends and Forecast to 2028.
The automotive refinish coatings market is expected to witness market growth at a rate of 6.0% in the forecast period of 2021 to 2028. Data Bridge Market Research report on automotive refinish coatings market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of automotive refinish coatings market.
Automotive refinish coatings are referred to polyurethane, acrylics or alkyd-based coatings utilized by vehicle body shops and repair centers. These coatings are generally applied to new/old passenger and commercial vehicles for covering up he damages on the body caused by extreme temperatures, impact from stones and accidents. Topcoat, basecoat, primer, filler, and activator or hardener coatings are some of the commonly used refinish coatings.
The increase in number of accidents across the region acts as one of the major factors driving the growth of automotive refinish coatings market. The rise in in the number of vehicle collisions in conjunction with proclivity of owners to repair their vehicles, and usage of refinish coatings for automotive maintenance, repair, and aftermarket painting on account of visual appearance, surface protection, and resistance to corrosion accelerate the market growth. The increase in awareness regarding the protection of vehicle paints by healing scratches and damages on the vehicle surfaces, and consumption of waterborne, high solids, and UV-cured coatings owing to zero VOC emissions further influence the market. Additionally, expansion of various end use industries, growth in awareness, increase in demand for recreational vehicles and rise in disposable income positively affect the automotive refinish coatings market. Furthermore, product development to enhance the performance of refinish coatings extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, increase in government regulations on the utilization of high volatile organic compounds (VOC) level coatings is expected to obstruct the market growth. The environmental concerns are projected to challenge the automotive refinish coatings market in the forecast period of 2021-2028.
This automotive refinish coatings market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on automotive refinish coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Automotive Refinish Coatings Market Scope and Market Size
The automotive refinish coatings market is segmented on the basis of product type, resin, technology and vehicle type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of functional type, the automotive refinish coatings market is segmented into primer, basecoat, clearcoat, activator, and filler & putty.
- On the basis of resin, the automotive refinish coatings market is segmented into polyurethane, alkyd, and acrylic.
- On the basis of technology, the automotive refinish coatings market is segmented into solvent-borne coatings, water-borne coatings, and UV-cured coatings.
- On the basis of vehicle type, the automotive refinish coatings market is segmented into passenger cars, commercial vehicles and others.
Asia-Pacific Automotive Refinish Coatings Market Country Level Analysis
The automotive refinish coatings market is segmented on the basis of product type, resin, technology and vehicle type.
The countries covered in the Asia-Pacific automotive refinish coatings market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Japan dominates the Asia-Pacific automotive refinish coatings market owning to the technological advancements in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Automotive Refinish Coatings Market Share Analysis
The automotive refinish coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive refinish coatings market.
The major players covered in the automotive refinish coatings market report are Axalta Coating Systems LLC, BASF SE, PPG Industries Inc., Kansai Paint Co. Ltd., NIPSEA GROUP, Bayer AG, KCC CORPORATION, Akzo Nobel N.V., The Sherwin-Williams Company, Berger Paints India Limited, Cabot Corporation, Clariant, and NOROO Paint & Coatings co. Ltd., among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Asia-Pacific Automotive Refinish Coatings Market
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