Summary

Automotive Refinish Coatings Market Research Report Information By Product Type (Clearcoat, Basecoat, Primer, Activator and Others), By Technology (Solvent-borne Coatings, Water-borne Coatings, UV-Cured Coatings, High Solid Coatings and Powder Coatings), By Resin (Polyurethane, Alkyd, Epoxy, Acrylic and Others), By Vehicle Type (Passenger Cars, Commercial Vehicles, Two Wheelers, and Others (Agricultural and Industrial Vehicles, Specialty & Niche Vehicles)) and By Region -Global Forecast to 2032
Market Overview
In 2022, the Automotive Refinish Coatings Market Size was estimated to be USD 8,980.8 million. The Automotive Refinish Coatings Market industry is anticipated to experience a compound annual growth rate (CAGR) of 6.53% from USD 9,735.1 million in 2023 to USD 18,155.8 million by 2032. Automotive refinish coatings are specialized paints and coatings that are employed in the aftermarket automotive industry to repair, restore, or improve the appearance and functionality of vehicles. These coatings are applied to vehicles that have been damaged by accidents, wear and tear, environmental factors, or simply to enhance their aesthetic allure. Automotive refinish coatings are distinct from original equipment manufacturer (OEM) coatings in that they are designed to meet the repair and customization requirements of vehicles that are already in operation. The product line typically comprises primers, basecoats, clearcoats, and specialty coatings, each of which serves a distinct purpose, including surface preparation, color application, and protection against UV radiation, corrosion, and scratches. As technology continues to evolve, contemporary refinish coatings are engineered to provide a superior finish, high durability, and simplicity of application, all while complying with rigorous environmental regulations.
One of the primary factors driving the Automotive Refinish Coatings Market is the increasing number of accidents and collisions on a global scale. The demand for vehicle repairs, including the application of refinish coatings, has increased as a result of the increased frequency of accidents, fender benders, and other forms of vehicle damage. This has been facilitated by the increased number of vehicles on the road. Repainting and refinishing are frequently necessary to restore the aesthetic allure of vehicles that have been damaged in accidents, particularly collisions, and to guarantee that protective coatings remain intact, thereby preventing rust and corrosion.

Market segment insights
The Automotive Refinish Coatings Market has been segmented into Clearcoat, Basecoat, Primer, Activator, and Others based on Product Type.
According to technology, the market is divided into five categories: solvent-borne coatings, water-borne coatings, UV-cured coatings, high-solid coatings, and powder coatings.
Polyurethane, Alkyd, Epoxy, Acrylic, and Others comprise the Automotive Refinish Coatings Market, which is segmented according to resin.
The Market is segmented into Passenger Cars, Commercial Vehicles, Two Wheelers, and Others (Agricultural and Industrial Vehicles, Specialty & Niche Vehicles) based on Vehicle Type.
Regional Perspectives
During the forecast period, the Asia-Pacific Automotive Refinish Coatings Market is anticipated to account for a substantial revenue share and maintain the highest market share. The automotive refinish coatings market in the Asia Pacific region is undergoing rapid development, which is being driven by the expanding automotive repair and maintenance industry, rising disposable incomes, and the increasing vehicle ownership. As a result of increased vehicle manufacturing, a growing middle class, and an increasing demand for collision repairs, countries such as China, India, and Japan are experiencing a surge in demand for automotive refinishing. In response to the increasing stringency of environmental regulations, the market is also experiencing a transition to more sustainable and eco-friendly coatings, including waterborne and low-VOC products, particularly in China and Japan. Furthermore, the aftermarket segment is experiencing growth due to the increasing demand for high-quality cosmetics and the increasing customization of vehicles.

Major Players
AkzoNobel, BASF, KCC Corporation, Mitsui Chemicals, Inc., PPG Industries, Inc., Nippon Paint, KAPCI Coatings, The Sherwin-Williams Company, 3M, Kansai Paint Co., Ltd., Covestro AG, Lubrizol Corporation, and Axalta Coating Systems are the market's leading global players.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY PRODUCT TYPE
1.1.2 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY TECHNOLOGY
1.1.3 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY RESIN
1.1.4 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY VEHICLE TYPE
1.1.5 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY REGION
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 MARKET STRUCTURE
2.4 KEY IMPLEMENTATION CRITERIA
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 GROWING ACCIDENT AND COLLISION RATES
4.2.2 SHIFT TOWARD ECO-FRIENDLY PRODUCTS
4.3 RESTRAINTS
4.3.1 STRINGENT REGULATIONS FOR VOLATILE ORGANIC COMPOUND (VOC) EMISSION
4.3.2 HIGH COSTS OF ADVANCED COATINGS
4.4 OPPORTUNITY
4.4.1 GROWING AUTOMOTIVE INDUSTRY IN ASIA PACIFIC
4.4 CHALLENGE
4.5.1 VOLATILE RAW MATERIAL PRICES
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY/VALUE CHAIN ANALYSIS
5.2 PORTER FIVE FORCES
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 BARGAINING POWER OF BUYERS
5.2.4 THREAT OF SUBSTITUTES:
5.2.5 COMPETITIVE RIVALRY
5.3 IMPACT OF CORONAVIRUS OUTBREAK ON THE GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET
5.3.1 OVERVIEW OF SUPPLY AND DEMAND SCENARIO
5.3.2 IMPACT OF COVID-19 ON SUPPLY CHAIN ANALYSIS
6 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY PRODUCT TYPE
6.1 INTRODUCTION
6.2 CLEARCOAT
6.3 BASECOAT
6.4 PRIMER
6.5 ACTIVATOR
6.6 OTHERS
7 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY TECHNOLOGY
7.1 INTRODUCTION
7.2 SOLVENT-BORNE COATINGS
7.3 WATER-BORNE COATINGS
7.4 UV-CURED COATINGS
7.5 HIGH SOLID COATINGS
7.6 POWDER COATINGS
8 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY RESIN
8.1 INTRODUCTION
8.2 POLYURETHANE
8.3 ALKYD
8.4 EPOXY
8.5 ACRYLIC
8.6 OTHERS
9 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY VEHICLE TYPE
9.1 INTRODUCTION
9.2 PASSENGER CARS
9.2.1 LUXURY CARS
9.2.2 ECONOMY CARS
9.2.3 ELECTRIC AND HYBRID CARS
9.3 COMMERCIAL VEHICLES
9.4 TWO-WHEELERS
9.5 OTHERS
10 GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET, BY REGION
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 U.S.
10.2.2 CANADA
10.3 EUROPE
10.3.1 GERMANY
10.3.2 U.K.
10.3.3 FRANCE
10.3.4 ITALY
10.3.5 SPAIN
10.3.6 RUSSIA
10.3.7 POLAND
10.3.8 BELGIUM
10.3.9 NETHERLANDS
10.3.10 LUXEMBOURG
10.3.11 DENMARK
10.3.12 NORWAY
10.3.13 SWEDEN
10.3.14 FINLAND
10.3.15 ICELAND
10.3.16 REST OF EUROPE
10.4 ASIA-PACIFIC
10.4.1 CHINA
10.4.2 INDIA
10.4.3 JAPAN
10.4.4 SOUTH KOREA
10.4.5 VIETNAM
10.4.6 MALAYSIA
10.4.7 REST OF APAC
10.5 MEA (MIDDLE EAST AND AFRICA)
10.5.1 TURKEY
10.5.2 GCC COUNTRIES
10.5.3 ROMEA
10.6 LATIN AMERICA
10.6.1 BRAZIL
10.6.2 MEXICO
10.6.3 ARGENTINA
10.6.4 ROLA (REST OF LATIN AMERICA)
11 COMPETITIVE LANDSCAPE
11.1 MARKET SHARE ANALYSIS
11.2 COMPETITIVE BENCHMARKING
12 COMPANY PROFILES
12.1 BASF SE
12.1.1 COMPANY OVERVIEW
12.1.2 FINANCIAL OVERVIEW
12.1.3 TYPES AND SERVICES
12.1.4 SWOT ANALYSIS
12.1.5 KEY STRATEGIES
12.2 KCC CORPORATION
12.2.1 COMPANY OVERVIEW
12.2.2 FINANCIAL OVERVIEW
12.2.3 TYPES AND SERVICES
12.2.4 SWOT ANALYSIS
12.2.5 KEY STRATEGIES
12.3 MITSUI CHEMICALS, INC.
12.3.1 COMPANY OVERVIEW
12.3.2 FINANCIAL OVERVIEW
12.3.3 TYPES AND SERVICES
12.3.4 SWOT ANALYSIS
12.3.5 KEY STRATEGIES
12.4 PPG INDUSTRIES, INC.
12.4.1 COMPANY OVERVIEW
12.4.2 FINANCIAL OVERVIEW
12.4.3 TYPES AND SERVICES
12.4.4 SWOT ANALYSIS
12.4.5 KEY STRATEGIES
12.5 NIPPON PAINT
12.5.1 COMPANY OVERVIEW
12.5.2 FINANCIAL OVERVIEW
12.5.3 TYPES AND SERVICES
12.5.4 SWOT ANALYSIS
12.5.5 KEY STRATEGIES
12.6 KAPCI COATINGS
12.6.1 COMPANY OVERVIEW
12.6.2 FINANCIAL OVERVIEW
12.6.3 TYPES AND SERVICES
12.6.4 SWOT ANALYSIS
12.6.5 KEY STRATEGIES
12.7 THE SHERWIN-WILLIAMS COMPANY
12.7.1 COMPANY OVERVIEW
12.7.2 FINANCIAL OVERVIEW
12.7.3 TYPES AND SERVICES
12.7.4 SWOT ANALYSIS
12.7.5 KEY STRATEGIES
12.8 3M
12.8.1 COMPANY OVERVIEW
12.8.2 FINANCIAL OVERVIEW
12.8.3 TYPES AND SERVICES
12.8.4 SWOT ANALYSIS
12.8.5 KEY STRATEGIES
12.9 AKZONOBEL N.V.
12.9.1 COMPANY OVERVIEW
12.9.2 FINANCIAL OVERVIEW
12.9.3 TYPES AND SERVICES
12.9.4 SWOT ANALYSIS
12.9.5 KEY STRATEGIES
12.10 AXALTA COATING SYSTEMS
12.10.1 COMPANY OVERVIEW
12.10.2 FINANCIAL OVERVIEW
12.10.3 TYPES AND SERVICES
12.10.4 SWOT ANALYSIS
12.10.5 KEY STRATEGIES
12.11 KANSAI PAINT CO., LTD.
12.11.1 COMPANY OVERVIEW
12.11.2 FINANCIAL OVERVIEW
12.11.3 TYPES AND SERVICES
12.11.4 SWOT ANALYSIS
12.11.5 KEY STRATEGIES
12.12 COVESTRO AG
12.12.1 COMPANY OVERVIEW
12.12.2 FINANCIAL OVERVIEW
12.12.3 TYPES AND SERVICES
12.12.4 SWOT ANALYSIS
12.12.5 KEY STRATEGIES
12.13 LUBRIZOL CORPORATION
12.13.1 COMPANY OVERVIEW
12.13.2 FINANCIAL OVERVIEW
12.13.3 TYPES AND SERVICES
12.13.4 SWOT ANALYSIS
12.13.5 KEY STRATEGIES