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Global Automotive Refinish Market – Industry Trends and Forecast to 2029

  • Automotive
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Automotive Refinish Market, By Material Type (Polyurethanes, Acrylics and Alkyd), Product Type (Primer, Base Coat, Top Coat and Clear Coat), Technology (Solvent Borne, Water Borne, UV Cure), Vehicle Type (Passenger Cars and Commercial Vehicles), End Use (OEM and Aftermarket) – Industry Trends and Forecast to 2029.

Automotive Refinish Market

Market Analysis and Size

Automotive refinish has gained immense popularity across the automobile sector owing to the rise in preference for customized aftermarket modifications among consumers. This coating is widely being adopted for both protection and decoration.

Global Automotive Refinish Market was valued at USD 11.50 billion in 2021 and is expected to reach USD 19.47 billion by 2029, registering a CAGR of 6.80% during the forecast period of 2022-2029. “Waterborne” accounts for the largest technology segment owing to the stringent VOC regulations in Europe and North America. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Vehicle body shops and repair facilities employ polyurethane, acrylic, or alkyd-based coatings for automotive refinish. These coatings are applied to new and used passenger and commercial cars to protect the body against damage caused by severe temperatures, accidents, and stone impact. Primer, filler, topcoat, basecoat, and activator or hardener coatings are some of the most often used refinish coatings.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 – 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Material Type (Polyurethanes, Acrylics and Alkyd), Product Type (Primer, Base Coat, Top Coat and Clear Coat), Technology (Solvent Borne, Water Borne and UV Cure), Vehicle Type (Passenger Cars and Commercial Vehicles), End Use (OEM and Aftermarket)

Countries Covered

U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).

Market Players Covered

Axalta Coating Systems, Ltd. (US), 3M (US), AkzoNobel N.V. (Netherlands), PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Dow (US), Nippon Paint Holdings Co., Ltd. (Japan), Kansai Paint Co., Ltd. (Japan), Covestro AG (Germany), KAPCI Coatings (India), NOVOL Sp. Z o.o. (Poland), KCC Corporation (South Korea), Bernardo Ecenarro S.A. (Spain), SEM Products, Inc. (US), Sheboygan Paint Co (US), Cresta Paint Industries Ltd. (Africa), Alps Coating Sdn. Bhd. (Malaysia), NOROO Paint & Coatings Co., Ltd. (South Korea), Koninklijke DSM N.V. (Netherlands), WEG SA (Brazil), The Lubrizol Corporation (US), HMG Paints Ltd (UK), James Briggs Limited (UK), Reichhold LLC (US), TOA Performance Coating Corporation CO., Ltd. (Thailand), Yashm Paint & Resin Industries (Iran), Allnex Group (Germany), Samhwa Paints Industrial Co. Ltd (South Korea), U.S. Paint (US), BASF SE (Germany), among others

Market Opportunities

  • Technological developments
  • Continual product development to improve the performance of refinish coatings.
  • Government attempts to reduce VOC emissions by adopting eco-friendly technology.

Automotive Refinish Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

  • Rise in the automotive industry

Customization and personalization of a product is a global trend, and the automotive industry has also seen considerable demand for customization of cars. This is likely to increase market demand for intelligent motor control center.

  • Increasing demand for recreational vehicles

In the automotive refinish industry, the increased demand for recreational vehicles in developed nations should also play a role which is driving the automotive refinish market.

  • Growing number of road accidents

As the frequency of road accidents and incidents rises, so does the demand for repair and maintenance services, which propels the market forward.

Opportunities

Furthermore, growing purchase of luxury cars and emphasis on to maintain the appearance and performance of older vehicles extend profitable opportunities to the market players in the forecast period of 2022 to 2029.

Restraints/Challenges

On the other hand, toxic compounds are included in some refinish coatings on the market, which spread into the environment during the laying and curing process is expected to obstruct market growth. Also, consumers' growing environmental worries is projected to challenge the intelligent motor control center market in the forecast period of 2022-2029.

 This automotive refinish 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, geographic expansions, technological innovations in the market. To gain more info on automotive refinish market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 Impact on Automotive Refinish Market

The COVID-19 had a negative impact on the automotive refinish market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for automotive speciality coatings market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the automotive refinish market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Global Automotive Refinish Market Scope and Market Size

The automotive refinish market is segmented on the basis of material type, product type, technology, vehicle type and end use. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material Type

  • Polyurethanes
  • Acrylics
  • Alkyd

Product Type

  • Primer
  • Base Coat
  • Top Coat
  • Clear Coat

Technology

  • Solvent Borne
  • Water Borne
  • UV Cure

Vehicle Type

End Use

  • OEM
  • Aftermarket

Automotive Refinish Market Regional Analysis/Insights

The automotive refinish market is analysed and market size insights and trends are provided by country, material type, product type, technology, vehicle type and end use as referenced above.

The countries covered in the automotive refinish market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).

North America dominates the automotive refinish market because of the rise in the environmentally friendly and low VOC products and strict regulations and changing consumer preferences within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of occurrence of various leading vehicle manufacturing companies and growing production of luxury, compact and mid-size vehicles 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the 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 Automotive Refinish Market Share Analysis

The automotive refinish 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 market.

Some of the major players operating in the automotive refinish market are

  • Axalta Coating Systems, Ltd. (US)
  • 3M (US)
  • AkzoNobel N.V. (Netherlands)
  • PPG Industries, Inc. (US)
  • The Sherwin-Williams Company (US)
  • Dow (US)
  • Nippon Paint Holdings Co., Ltd. (Japan)
  • Kansai Paint Co., Ltd. (Japan)
  • Covestro AG (Germany)
  • KAPCI Coatings (India)
  • NOVOL Sp. Z o.o. (Polan)
  • KCC Corporation (South Korea)
  • Bernardo Ecenarro S.A. (Spain)
  • SEM Products, Inc. (US)
  • Sheboygan Paint Co (US)
  • Cresta Paint Industries Ltd. (Africa)
  • Alps Coating Sdn. Bhd. (Malaysia)
  • NOROO Paint & Coatings Co., Ltd. (South Korea)
  • Koninklijke DSM N.V. (Netherlands)
  • WEG SA (Brazil)
  • The Lubrizol Corporation (US)
  • HMG Paints Ltd (UK)
  • James Briggs Limited (UK)
  • Reichhold LLC (US)
  • TOA Performance Coating Corporation CO., Ltd. (Thailand)
  • Yashm Paint & Resin Industries (Iran)
  • Allnex Group (Germany)
  • Samhwa Paints Industrial Co. Ltd (South Korea)
  • U.S. Paint (US)
  • BASF SE (Germany)

Research Methodology: Global Automotive Refinish Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

Global Automotive Refinish Market is expected USD 19.47 billion by 2029.
The Automotive Refinish Market is to grow at a CAGR of 8.40% during the forecast by 2029.
On the basis of technology, the Automotive Refinish Market is segmented into Solvent Borne, Water Borne, UV Cure.
The major countries covered in the Automotive Refinish Market are U.S., Canada, and Mexico in North America, Brazil, Argentina, and rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).