The increase in disposable income, changing lifestyle and buying behavior of people, and the demand of luxury vehicles from the segment are the major factors influencing market growth.
Market Size – USD 8.39 Billion in 2018, Market Growth - CAGR of 3.8%, Market Trends – Rise of environment friendly coating technologies.
The global automotive refinish coatings market is expected to reach USD 11.34 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increasing disposable income, changing lifestyle and buying behavior of people, and the demand for luxury vehicles from the segment.
Automotive refinishing coatings are used by the end-users, to address the growing need for up-to-date maintenance and servicing of vehicles to enhance the look and durability of the vehicles and by protecting them from damages due to harsh temperatures and UV radiation. Developments and innovations in coatings, such as high-tech eco-friendly coating materials having low solvent content is another factor fueling the growth of the market.
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| Automotive Refinish Coatings Market | Reports and Data |
Stringent regulations regarding various VOC-containing products is one of the factors restraining the growth of the market. The use of VOC-containing products, releases VOCs causing air pollution and smog, to improve the same, Governments of many countries have implemented a series of control measures.
Further key findings from the report suggest
• The market is segmented on the basis of resin type into epoxy, alkyd, polyurethane, others.
• The polyurethane segment dominated the market in 2018, and is forecasted to grow at a CAGR of 2.2% during the forecast period, since it is less expensive, environment-friendly and also versatile.
• The market is segmented on the basis of product into primer, basecoat, clear coat, activator, filler & putty.
• Clear coats, which provide protection to the paint on the vehicles from sun, dust or water, hold the largest share of the market in 2018. It is expected to have a growth rate of 3.4% during the forecast period.
• The market is segmented on the basis of technology into solvent-borne coatings, water-borne coatings, and UV-cured coatings.
• Solvent-borne coatings hold the largest share in the market in 2018 with a CAGR of 2.9% during the forecast period, the reason is because of its cost effectiveness as compared to other technologies.
• The market is segmented on the basis of substrate into glass, metal, plastic, and others.
• Key participants include PPG Industries Inc., The Sherwin Williams Company, Axalta Coating systems Ltd., AzkoNobel N.V BASF SE, Convestro AG, Kansai Paints Co. Ltd., Esdee Paint Ltd., KCC Corporation, KAPCI Coating Co. Ltd., NOROO Paint & Coatings Co. Ltd, The Lubrizol Corporation, S.Coat Co., Ltd., Nippon Paint Holding Co. Ltd., and Berger Paints India Ltd., among others.
• The companies have adopted various strategies including mergers, acquisitions and partnerships to hold on going trails and come up with new developments in the market.
For the purpose of this report, Reports and Data have segmented global automotive refinish coatings Market on the basis of resin type, product, technology, substrate, application, and region:
Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
• Epoxy
• Alkyd
• Polyurethane
• Others
Product Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Primer
• Basecoat
• Clearcoat
• Activator
• Filler
• Putty
Technology Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Solvent-borne Coatings
• Water-borne Coatings
• UV-cured Coatings
Substrate Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Glass
• Metal
• Plastic
• Other
Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
• Commercial vehicles
o Light Commercial Vehicle (LCV)
o Heavy Commercial Vehicle (HCV)
• Passenger vehicles
o Compact
o Executive
o Luxury
• Two-wheeler
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
• North America
o US.
• Europe
o Germany
o UK
• Asia Pacific
o China
o India
o South-east Asia
• Latin America
o Brazil
• MEA
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/automotive-refinish-coatings-market
Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Automotive Refinish Coatings Market Segmentation & Impact Analysis
4.1. Automotive Refinish Coatings Segmentation Analysis
4.2. Automotive Refinish Coatings Market Value Chain Analysis, 2018-2026
4.3. Regulatory framework
4.4. Recent Developments
4.5. Automotive Refinish Coatings Market Impact Analysis
4.5.1. Market driver analysis
4.5.1.1. Increasing disposable incomes and changing lifestyle
4.5.1.2. Growth of automotive industry
4.5.1.3. Rise of environment friendly coating technologies
4.5.1.4. Increasing demand of UV-curable coating and nanocoating
Continue…
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