Press release
Automotive Refinish Coatings Market Share, Growth, Region Wise Analysis of Top Players including PPG Industries Inc., Axalta Coating systems Ltd., The Sherwin Williams Company, BASF SE, and AzkoNobel N.V
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On the basis of product, the automotive refinish coatings market is segmented into clearcoats, basecoats, primers and fillers, and others. In terms of value, the clearcoats category has been dominating the market, with an estimated contribution of more than 35.0% in 2017. Primers and fillers are expected to register significant growth during the forecast period, with 4.8% CAGR.
Among all technologies used in the automotive refinish coatings market, the waterborne-based technology is expected to attain the highest CAGR during the forecast period. As solvent-borne based products produce high levels of VOC, OEMs have started to switch to water-borne based products, thus leading to increased demand of the technology in the market.
Globally, Asia-Pacific has been the largest automotive refinish coatings market, with an estimated contribution of more than 30.0% in 2017. This can be attributed to the increase in the number of collisions in developing countries due to increased congestion and population, growing GDP of the region, and increase in the demand of vehicles in countries such as China, India, and Vietnam, among others.
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The leading players in the global automotive refinish coatings market include PPG Industries Inc., Axalta Coating systems Ltd., The Sherwin Williams Company, BASF SE, and AzkoNobel N.V. The other key players in the industry include Convestro AG, Esdee Paint Ltd., Kansai Paints Co. Ltd., KAPCI Coating Co. Ltd., KCC Corporation, The Lubrizol Corporation, NOROO Paint & Coatings Co. Ltd, Nippon Paint Holding Co. Ltd., S.Coat Co. Ltd., and Berger Paints India Ltd.
GLOBAL AUTOMOTIVE REFINISH COATINGS MARKET SEGMENTATION
By Product Type
Clearcoats
Basecoats
Primers & Fillers
Others
By Resin Type
Polyurethane
Alkyd
Acrylic
Epoxy
Others
By Technology
Solvent-Borne
Water-Borne
UV Curved
By Auto Type
Cars
Commercial Vehicles
Two-Wheeler
Others
By Vehicle Age
10 years
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