Automotive Refinish Coating Market Overview:
Global Automotive Refinish Coating Market size and share is currently valued at USD 12.79 Billion in 2024 and is anticipated to generate an estimated revenue of USD 24.42 Billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 6.7% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034
Key Market Drivers:
- Vehicle Ownership Increase: A growing number of vehicles on the road leads to higher incidences of wear and accidents, elevating the need for refinish coatings.
- Aesthetic Customization Trends: Consumers’ desire for personalized vehicle appearances drives demand for diverse refinish coating options.
- Technological Innovations: Advancements in coating technologies enhance durability and application efficiency, attracting more users.
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Key Companies in Automotive Refinish Coating Market:
- Dow Inc.
- Alsa Refinish and The Alsa Corporation
- NOROO PAINT & COATINGS Co., Ltd.
- BASF
- Akzo Nobel N.V.
- Clariant
- PPG Industries, Inc.
- Axalta Coating Systems
- Cabot Corporation
- NIPSEA Group
- Bayer AG
- KAPCI Coating
Automotive Refinish Coating – Research Scope
This research area investigates the development of advanced coatings for automotive refinishing, emphasizing durability, UV resistance, and environmental compliance. Studies explore trends in aesthetic customization, technological advancements like waterborne coatings, and the influence of vehicle ownership patterns on market demand. The scope also includes analyzing regional variations in adoption and the impact of government regulations on volatile organic compounds (VOCs).
Automotive Refinish Coating Market Segmentation:
This market is segmented by product type, technology, and region. Product types include primer, basecoat, clearcoat, and activators. Technologies encompass waterborne, solvent-borne, and UV-cured coatings. Regionally, the market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World, with Europe showing significant growth driven by customization trends and stringent VOC regulations.
Automotive Refinish Coating Market, Resin Outlook (Revenue – USD Billion, 2020-2034)
- Acrylic
- Alkyd
- Polyurethane
- Others
Automotive Refinish Coating Market, Technology Outlook (Revenue – USD Billion, 2020-2034)
- Solvent-Borne
- Water-Borne
- Others
Automotive Refinish Coating Market, Product Outlook (Revenue – USD Billion, 2020-2034)
- Primer
- Basecoat
- Topcoat
- Fillers
- Others
Automotive Refinish Coating Market, Vehicle Age Outlook (Revenue – USD Billion, 2020-2034)
- <5
- 5 to 10
- >10
Automotive Refinish Coating Industry Developments:
- December 2022: BASF, a global leader in chemicals, introduced the first biomass balance automotive coatings in China. These coatings are made using renewable raw materials, aligning with the company’s sustainability goals and advancing eco-friendly solutions in the automotive industry.
- June 2022: Kansai Paint Co., Ltd. announced the sale of its Africa business to Akzo Nobel N.V., a global coatings giant, under a Share Purchase Agreement. This move allows Kansai Paint to focus on other strategic markets while strengthening Akzo Nobel’s presence in Africa.
- September 2021: Axalta Coating Systems completed the acquisition of U-POL Holdings Limited, a supplier of paints, protective coatings, and accessories for the automotive aftermarket. This acquisition bolsters Axalta’s global leadership in the refinish market and aligns with its broader growth strategy.
The Automotive Refinish Coating market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.