Automotive Refinish Coating Market to Record CAGR of 5.7% Increase in Revenue by 2023

Global Automotive Refinish Coating Market - explore share, size, revenue, valuation, CAGR, regional outlook, key players, competitive landscape, latest trends & forecast

The automotive refinish coatings market has never had it better than in the second decade of the 21st century. The explosion in vehicle ownership, particularly in the fast-growing APEJ region has unfortunately led to a rise in vehicle collisions with owners choosing to repair or repaint their vehicles instead of it being business as usual. Along with this, the adoption of newer chemical technologies should boost automotive refinish coatings market during the course of forecast period. Persistence Market Research has prepared an exhaustive report on automotive refinish coatings market titled 'Automotive Refinish Coatings Market: Global Industry Analysis (2012-2016) & Forecast (2017-2022)'. The report has included a historical analysis of automotive refinish coatings market from the year 2012 to 2016 and compared it with the five-year forecast ending in the year 2022. The study accurately portrays the present and future prospects that await companies in automotive refinish coatings market in regions as diverse as APEJ, North America, Japan, Latin America, MEA, and Europe.

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The automotive refinish coating market report begins with the executive summary and introduction that are the perfect first-glance at automotive refinish coating market. The automotive refinish coatings market report has an in-depth assessment of automotive refinish coatings market in value terms expressed in US dollars. In addition to this, the section comprises of the opportunity analysis and technological advancements that impact automotive refinish coatings market. A comprehensive evaluation of each market within automotive refinish coatings market across the different geographic regions can be extracted from this chapter of automotive refinish coatings market report. Market presence of players in the form of an attractiveness index completes this portion.

An important chapter of automotive refinish coatings market report touches on the regional analysis of automotive refinish coatings market. Recent country-specific trends that contribute to the overall growth of automotive refinish coatings market are mentioned herein. An equal focus has been provided to all countries for companies that wish to enter either developed or developing economies in automotive refinish coatings market.

In an ever-changing global economy, it is vital to conduct forecasts with CAGR and other important metrics such as Y-o-Y growth rate and absolute dollar opportunity that help gain a pulse of automotive refinish coatings market. The last sections of automotive refinish coatings market report highlight the competitive landscape present in automotive refinish coatings market. A competition dashboard view has delivered the information in a simple and easy-to-understand format and can be beneficial to both incumbents and new entrants in automotive refinish coatings market. Recent company developments, long and short-term market strategies, financial ratios, and a brief overview can be gleaned in this chapter. A SWOT analysis can enable readers to formulate their business strategies effectively.

Drivers and Restraints:

Drivers:

1. Increasing demand for vehicle customization: Many consumers are interested in customizing their vehicles, whether to improve their appearance or to meet their specific needs. This has led to increased demand for automotive refinish coatings that can help them achieve their desired look.

2. Growing automotive market: As the global automotive market continues to grow, so does the demand for refinish coatings. As more vehicles are produced, more will need to be repaired and repainted over time, driving demand for refinish coatings.

3. Advances in coating technology: Advances in coating technology have led to the development of new and improved refinish coatings that offer better protection, durability, and appearance. This has increased the attractiveness of refinish coatings to both consumers and automotive repair professionals.

Restraints:

1. High cost of refinish coatings: Refinish coatings can be expensive, which can limit demand among cost-sensitive consumers. Additionally, the high cost of refinish coatings can make it difficult for automotive repair professionals to compete with lower-cost alternatives.

2. Limited availability of skilled labor: Applying refinish coatings requires specialized skills and training, which can be difficult to find in some regions. This can limit the availability of professionals who are capable of applying high-quality refinish coatings.

3. Competition from alternative repair methods: While refinish coatings are the traditional method for repairing and restoring vehicles, there are alternative methods available, such as vinyl wraps and paintless dent repair, which can be cheaper and faster. These alternative methods can limit the demand for refinish coatings.

Competition Dashboard in the Automotive Refinish Coating Market

The Persistence Market Research report has profiled companies actively involved in the automotive refinish coating market. These include BASF SE, Akzo Nobel NV, Axalta Coating Systems, PPG Industries, The Sherwin-Williams Company, DowDuPont Inc., Kansai Paint Co., Nippon Paint Holdings Co Ltd, 3M Company, and KCC Corporation.

Automotive Refinish Coatings Market Taxonomy

Region

• North America
• Latin America
• Europe
• Japan
• APEJ
• MEA

Material Type

• UV-cured Coatings
• Water-borne Coatings
• Solvent-borne Coatings

Coating Structure

• Top Coat
• Base Coat
• Primer
• Clear Coat

Vehicle Type

• Premium Passenger Cars
• Light Commercial Vehicles
• Compact Passenger Cars
• Luxury Passenger Cars
• Mid-sized Passenger Cars
• Heavy Commercial Vehicles

Resin Type

• Polyurethane
• Alkyd
• Acrylic

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This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

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Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

Related reports:

Europe Automotive Parts Remanufacturing Market: https://www.persistencemarketresearch.com/market-research/europe-automotive-parts-remanufacturing-market.asp
Automotive Collision Repair Services Market: https://www.persistencemarketresearch.com/market-research/automotive-collision-repair-services-market.asp

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The Automotive and Transportation division of PMR provides exclusive coverage and actionable insights about the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services, and technology landscape have helped numerous industry stakeholders' right from automakers, component manufacturers, channel partners, and service providers in taking informed decisions and keeping them up-to-date with market behavior.