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Automotive Refinish Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

July 2023 | 147 pages | ID: A73370A0E5F4EN
IMARC Group

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Market Overview:

The global automotive refinish coatings market size reached US$ 10.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.

Automotive refinish coatings are utilized on after-market automobiles, motorcycles, bicycles, trucks, and vans. They are used on new/old passenger and commercial vehicles to cover up damages on the body, which are caused by extreme temperatures, accidents and impacts from stones.Some of the commonly available refinish coatings are filler, primer, topcoat, basecoat and activator or hardener coatings. They are either solvent-borne, water-borne or ultraviolet (UV) cured. Amongst these, water-borne coatings have lower levels of volatile organic compounds (VOCs) than solvent-borne variants, which makes them highly effective for all automobiles.

Automotive Refinish Coatings Market Trends:

The increasing requirement for recreational and repair and maintenance activities of vehicles, along with the rising fatal road accidents, represents one ofthe major factors positively influencing the demand for automotive refinish coatings worldwide. In addition, the growing sales of luxury vehicles on account of rapid urbanization and improving income levels is catalyzing the demand for automotive refinish coatings to maintain the aesthetic appearance of vehicles. Apart from this, key players are introducing environment-friendly refinish coatings manufactured using organic chemicals and offering customization colors and printing to enhance the experience of the consumer. Besides this, the increasing consciousness among the masses about vehicle maintenance is resulting in the rising adoption of automotive refinish coatings around the world. Furthermore, the growing environmental awareness and several initiatives undertaken by governments of numerous countries are driving the usage of low volatile organic compounds (VOC) emissions. This is offering lucrative growth opportunities to market players operating in the industry.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive refinish coatings market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on resin type, product type, technology, and vehicle type.

Breakup by Resin Type:

Polyurethane
Alkyd
Acrylic
Others

Polyurethane dominates the market as it is resistant to water, oil, and grease and can perform in harsh environments.

Breakup by Product Type:

Primer
Basecoat
Activator
Filler
Topcoat
Others

Basecoat currently represents the most popular product type.

Breakup by Technology:

Solvent-borne
Water-borne
UV-cured

Solvent-borne technology accounts for the majority of the total marketshare as it contains higher levels of organic compounds and prevents corrosion.

Breakup by Vehicle Type:

Passenger Cars
Commercial Vehicles
Others

Passenger cars currently dominate the market.

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The Asia Pacific holds the majority of the global automotive refinish coatings market share due to the increasing sales of vehicles in the region.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are 3M Co., Akzo Nobel N.V., Axalta Coating Systems, BASF SE, Clariant AG, DuPont de Nemours, Inc., Kansai Paint Co.Ltd., KCC Co., Ltd., Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., and The Sherwin-Williams Company.

Key Questions Answered in This Report

1. What was the size of the global automotive refinish coatings market in 2022?
2. What is the expected growth rate of the global automotive refinish coatings market during 2023-2028?
3. What has been the impact of COVID-19 on the global automotive refinish coatings market?
4. What are the key factors driving the global automotive refinish coatings market?
5. What is the breakup of the global automotive refinish coatings market based on the resin type?
6. What is the breakup of the global automotive refinish coatings market based on the product type?
7. What is the breakup of the global automotive refinish coatings market based on the technology?
8. What is the breakup of the global automotive refinish coatings market based on the vehicle type?
9. What are the key regions in the global automotive refinish coatings market?
10. Who are the key players/companies in the global automotive refinish coatings market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY RESIN TYPE

6.1 Polyurethane
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Alkyd
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Acrylic
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Others
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY PRODUCT TYPE

7.1 Primer
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Basecoat
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Activator
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Filler
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Topcoat
  7.5.1 Market Trends
  7.5.2 Market Forecast
7.6 Others
  7.6.1 Market Trends
  7.6.2 Market Forecast

8 MARKET BREAKUP BY TECHNOLOGY

8.1 Solvent-borne
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Water-borne
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 UV-cured
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY VEHICLE TYPE

9.1 Passenger Cars
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Commercial Vehicles
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Others
  9.3.1 Market Trends
  9.3.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 3M Company
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
    15.3.1.3 Financials
    15.3.1.4 SWOT Analysis
  15.3.2 Akzo Nobel N.V.
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
    15.3.2.4 SWOT Analysis
  15.3.3 Axalta Coating Systems Ltd.
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
    15.3.3.3 Financials
    15.3.3.4 SWOT Analysis
  15.3.4 BASF SE
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
    15.3.4.3 Financials
    15.3.4.4 SWOT Analysis
  15.3.5 Clariant AG
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
    15.3.5.3 Financials
  15.3.6 Dupont De Nemours Inc.
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
    15.3.6.3 Financials
  15.3.7 Kansai Paint Co. Ltd.
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
    15.3.7.3 Financials
    15.3.7.4 SWOT Analysis
  15.3.8 KCC Corporation
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
    15.3.8.3 Financials
  15.3.9 Nippon Paint Holdings Co. Ltd.
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
    15.3.9.3 Financials
    15.3.9.4 SWOT Analysis
  15.3.10 PPG Industries Inc.
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
    15.3.10.3 Financials
    15.3.10.4 SWOT Analysis
  15.3.11 The Sherwin-Williams Company
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
    15.3.11.3 Financials
    15.3.11.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Automotive Refinish Coatings Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Automotive Refinish Coatings Market Forecast: Breakup by Resin Type (in Million US$), 2023-2028
Table 3: Global: Automotive Refinish Coatings Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 4: Global: Automotive Refinish Coatings Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 5: Global: Automotive Refinish Coatings Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
Table 6: Global: Automotive Refinish Coatings Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Automotive Refinish Coatings Market Structure
Table 8: Global: Automotive Refinish Coatings Market: Key Players

LIST OF FIGURES

Figure 1: Global: Automotive Refinish Coatings Market: Major Drivers and Challenges
Figure 2: Global: Automotive Refinish Coatings Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Automotive Refinish Coatings Market: Breakup by Resin Type (in %), 2022
Figure 4: Global: Automotive Refinish Coatings Market: Breakup by Product Type (in %), 2022
Figure 5: Global: Automotive Refinish Coatings Market: Breakup by Technology (in %), 2022
Figure 6: Global: Automotive Refinish Coatings Market: Breakup by Vehicle Type (in %), 2022
Figure 7: Global: Automotive Refinish Coatings Market: Breakup by Region (in %), 2022
Figure 8: Global: Automotive Refinish Coatings Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Automotive Refinish Coatings (Polyurethane) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Automotive Refinish Coatings (Polyurethane) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Automotive Refinish Coatings (Alkyd) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Automotive Refinish Coatings (Alkyd) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Automotive Refinish Coatings (Acrylic) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Automotive Refinish Coatings (Acrylic) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Automotive Refinish Coatings (Other Resin Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Automotive Refinish Coatings (Other Resin Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Automotive Refinish Coatings (Primer) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Automotive Refinish Coatings (Primer) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Automotive Refinish Coatings (Basecoat) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Automotive Refinish Coatings (Basecoat) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Automotive Refinish Coatings (Activator) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Automotive Refinish Coatings (Activator) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Automotive Refinish Coatings (Topcoat) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Automotive Refinish Coatings (Topcoat) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Automotive Refinish Coatings (Filler) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Automotive Refinish Coatings (Filler) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Automotive Refinish Coatings (Other Product Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Automotive Refinish Coatings (Other Product Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Automotive Refinish Coatings (Solvent-borne) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Automotive Refinish Coatings (Solvent-borne) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Automotive Refinish Coatings (Water-borne) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Automotive Refinish Coatings (Water-borne) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Automotive Refinish Coatings (UV-cured) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Automotive Refinish Coatings (UV-cured) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Automotive Refinish Coatings (Passenger Cars) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Automotive Refinish Coatings (Passenger Cars) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Automotive Refinish Coatings (Commercial Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Automotive Refinish Coatings (Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Automotive Refinish Coatings (Other Vehicle Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Automotive Refinish Coatings (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: North America: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: North America: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: United States: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: United States: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Canada: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Canada: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Asia Pacific: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Asia Pacific: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: China: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: China: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Japan: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Japan: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: India: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: India: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: South Korea: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: South Korea: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Australia: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Australia: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Indonesia: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Indonesia: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Europe: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Europe: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Germany: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Germany: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: France: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: France: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: United Kingdom: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: United Kingdom: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Italy: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Italy: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Spain: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Spain: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Russia: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Russia: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Others: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Others: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Latin America: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Latin America: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Brazil: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Brazil: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Mexico: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Mexico: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Others: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Others: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Middle East and Africa: Automotive Refinish Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Middle East and Africa: Automotive Refinish Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Global: Automotive Refinish Coatings Industry: SWOT Analysis
Figure 90: Global: Automotive Refinish Coatings Industry: Value Chain Analysis
Figure 91: Global: Automotive Refinish Coatings Industry: Porter’s Five Forces Analysis


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