“Automotive Refinish Coatings Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive refinish coatings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for automotive refinish coatings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive refinish coatings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Product Type: Primer; Basecoat; Clearcoat; Activator; Filler and Putty
- 2) By Technology: Solvent-borne Coatings; Water-borne Coatings; UV-cured Coatings; High Solid Coatings; Powder Coatings
- 3) By Resin: Polyurethane; Alkyd; Acrylic; Epoxy
- 4) By Application: Passenger Cars; Commercial Vehicles; Two-Wheeler
- 5) By End Use: OEM; Aftermarket
- Companies Mentioned: KCC Corporation; BASF SE; PPG Industries Inc; Nippon Paint Holdings Company Limited; KAPCI Coatings Company
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the automotive refinish coatings market are: KCC Corporation, BASF SE, PPG Industries Inc., Nippon Paint Holdings Company Limited, KAPCI Coatings Company, The Valspar Corporation, The Sherwin-Williams Company, 3M Company, Akzo Nobel NV, Kansai Paint Company Limited, Bernardo Ecenarro SA, SEM Products Inc., Sheboygan Paint Company, Cresta Paint Industries Limited, and Alps Coating Sdn Bhd.
The global automotive refinish coatings market is expected to grow from $8.80 billion in 2022 to $9.34 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive refinish coatings market is expected to grow to $11.46 billion in 2027 at a CAGR of 5.3%.
The automotive refinish coatings market consists of sales of topcoat resins. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Automotive refinish coatings refer to coatings that are made up of alkyd, polyurethane, and acrylics that are used by body shops and repair centers. The automotive refinish coatings are used in vehicles to cover the damages on the body of the vehicle that is caused by accidents, stones, or temperature.
Asia-Pacific was the largest region in the automotive refinish coatings market in 2022. The regions covered in the automotive refinish coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of automotive refinishes coatings are primer, the basecoat, clear coat, activator, filler, and, putty. Primer refers to the base coat that is applied on the surface before the topcoat. It is used to ensure maximum adhesion so that paint shall long last. The technologies involved are solvent-borne coatings, water-borne coatings, UV-cured coatings, high solid coatings, and powder coatings that uses resin types such as polyurethane, alkyd, acrylic, and epoxy. The automotive refinish coatings find its application in application includes passenger cars, commercial vehicles, and a two-wheeler. The end-users include OEM and aftermarket.
The rising number of accidents is expected to propel the growth of the automotive refinish coatings market going forward. Accidents refer to any injury due to crashes involving a vehicle partially or fully on a public road. Automotive refinish coatings help to cover the damages caused to the vehicle body due to accidents. For instance, in January 2022, according to the Times of India, an Indian daily newspaper, Road crashes rise by 10% in 2021, and over 400 died in accidents. The number of road accidents was 796 in 2020 which had increased to 874 in 2021. The number of road accidents in 2020 accounted for 347 which increased to 389 in 2021. Therefore, the rising number of accidents is driving the automotive refinish coatings market.
Technological advancements are the key trend gaining popularity in the automotive refinish coatings market. Major companies operating in the market are introducing advanced technological solutions to sustain their position in the market. For instance, in January 2021, Nippon Paint Group, an India-based company that manufactures paint and coatings launched its next-generation 'Paint Partner' digital color solutions. This technology is the latest digital color formula retrieval and correction system which is integrated with a spectrophotometer tool. Paint Partner is supported across all platforms, including Web, Windows, and mobile apps (both iOS and Android). It has been integrated into two multi-angle Spectrophotometers, one of which has a colored camera. Both of the devices have firmware that is specifically designed for Nippon Paint, are branded, Wi-Fi enabled, and have other powerful features like touch screens, colored user interfaces (UI), the ability to choose flake or aluminum, and the ability to recommend a primer or surfacer. The equipment is designed to offer a distinctive and cutting-edge solution to the automotive painting industry and works with both solvent-borne and water-borne paint systems.
In February 2020, PPG Industries, Inc., a US-based company global supplier of coatings, paints, and specialty materials acquired Industria Chimica Reggiana (ICR) for an undisclosed amount. This acquisition will help PPG Industries to strengthen its position in the automotive refinish paintings portfolio. Industria Chimica Reggiana (ICR) is an Italy-based company that manufacturers coatings and paints for the automotive refinish coatings industries.
The countries covered in the automotive refinish coatings market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive refinish coatings market research report is one of a series of new reports from The Business Research Company that provides automotive refinish coatings market statistics, including automotive refinish coatings industry global market size, regional shares, competitors with an automotive refinish coatings market share, detailed automotive refinish coatings market segments, market trends and opportunities, and any further data you may need to thrive in the automotive refinish coatings industry. This automotive refinish coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Automotive Refinish Coatings Market Characteristics
3. Automotive Refinish Coatings Market Trends And Strategies
4. Automotive Refinish Coatings Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Automotive Refinish Coatings Market
- 4.2. Ukraine-Russia War Impact On Automotive Refinish Coatings Market
- 4.3. Impact Of High Inflation On Automotive Refinish Coatings Market
5. Automotive Refinish Coatings Market Size And Growth
- 5.1. Global Automotive Refinish Coatings Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Automotive Refinish Coatings Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Automotive Refinish Coatings Market Segmentation
- 6.1. Global Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Primer
- Basecoat
- Clearcoat
- Activator
- Filler And Putty
- 6.2. Global Automotive Refinish Coatings Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Solvent-Borne Coatings
- Water-Borne Coatings
- UV-Cured Coatings
- High Solid Coatings
- Powder Coatings
- 6.3. Global Automotive Refinish Coatings Market, Segmentation By Resin, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Polyurethane
- Alkyd
- Acrylic
- Epoxy
- 6.4. Global Automotive Refinish Coatings Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Passenger Cars
- Commercial Vehicles
- Two-Wheeler
- 6.5. Global Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- OEM (Original Equipment Manufacturers)
- Aftermarket
7. Automotive Refinish Coatings Market Regional And Country Analysis
- 7.1. Global Automotive Refinish Coatings Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Automotive Refinish Coatings Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Automotive Refinish Coatings Market
- 8.1. Asia-Pacific Automotive Refinish Coatings Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Automotive Refinish Coatings Market
- 9.1. China Automotive Refinish Coatings Market Overview
- 9.2. China Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Automotive Refinish Coatings Market
- 10.1. India Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Automotive Refinish Coatings Market
- 11.1. Japan Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Automotive Refinish Coatings Market
- 12.1. Australia Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Automotive Refinish Coatings Market
- 13.1. Indonesia Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Automotive Refinish Coatings Market
- 14.1. South Korea Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Automotive Refinish Coatings Market
- 15.1. Western Europe Automotive Refinish Coatings Market Overview
- 15.2. Western Europe Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Automotive Refinish Coatings Market
- 16.1. UK Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Automotive Refinish Coatings Market
- 17.1. Germany Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Automotive Refinish Coatings Market
- 18.1. France Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Automotive Refinish Coatings Market
- 19.1. Eastern Europe Automotive Refinish Coatings Market Overview
- 19.2. Eastern Europe Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Automotive Refinish Coatings Market
- 20.1. Russia Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Automotive Refinish Coatings Market
- 21.1. North America Automotive Refinish Coatings Market Overview
- 21.2. North America Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Automotive Refinish Coatings Market
- 22.1. USA Automotive Refinish Coatings Market Overview
- 22.2. USA Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Automotive Refinish Coatings Market
- 23.1. South America Automotive Refinish Coatings Market Overview
- 23.2. South America Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Automotive Refinish Coatings Market
- 24.1. Brazil Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Automotive Refinish Coatings Market
- 25.1. Middle East Automotive Refinish Coatings Market Overview
- 25.2. Middle East Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Automotive Refinish Coatings Market
- 26.1. Africa Automotive Refinish Coatings Market Overview
- 26.2. Africa Automotive Refinish Coatings Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Automotive Refinish Coatings Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Automotive Refinish Coatings Market Competitive Landscape And Company Profiles
- 27.1. Automotive Refinish Coatings Market Competitive Landscape
- 27.2. Automotive Refinish Coatings Market Company Profiles
- 27.2.1. KCC Corporation
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. BASF SE
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. PPG Industries Inc
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Nippon Paint Holdings Company Limited
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. KAPCI Coatings Company
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Automotive Refinish Coatings Market
29. Automotive Refinish Coatings Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer