Global Automotive Refinish Coatings Market to Reach US$ 13,231.44 Mn by 2026 | BASF SE, Axalta Coatings, PPG Industries, Valspar Corporation, The Sherwin-Williams Company, Akzo Nobel NV
Automotive Refinish Coatings Market - Overview
Timely maintenance and repair enhances the appearance and durability of vehicles. Vehicles need protection from external factors such as climate; road conditions; foreign particles including stones, debris, and rubble; accidents; temperature; and UV radiation. Automotive refinishing coatings are used in the automotive aftermarket by end-users. Increase in demand for esthetic refinish of vehicles across the world has resulted in significant innovations in automotive refinish coatings. Automotive refinish coatings are constantly being developed to match the standards being set in the OEM coating market. Developments are constantly taking place in the automotive refinish coatings market. For instance, high-tech coating materials that are eco-friendly and have low solvent content are being developed. Automotive refinish coating processes include collision repair and car repair paint. Refinish coatings are applied to vehicles as part of the total refinish, part refinish, or as a touch-up measure.
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Based on process, the global automotive refinish coatings market has been segmented into primer, base coat, clear coat, activator, filler, and others (including e-coat). Clear coat is a prominent segment of the global automotive refinish coatings market. Clear coat is usually pigment free and transparent. It is exposed to stress and is therefore able to withstand harsh weather conditions such as UV radiation and hail and industrial and natural influences. Clear coat needs favorable compatibility with primer and base coat. It also needs excellent transparency and optical properties, as the entire appearance of the automotive depends on clear coat. Primer is the second layer applied on the automotive body (after e-coat). The typical thickness of an automotive primer is about 25 micro meters. Primer offers excellent adhesion between intermediate coats. Primer is also responsible for final finish, smoothness, brightness, and texture of the automotive. It also imparts anti-corrosion properties to the automotive surface. Base coat is an intermediate layer of coating applied between the primer and the clear coat. The typical thickness of an automotive base coat stands at about 10 micro meters to 20 micro meters.
In terms of technology, the global automotive refinish coatings market has been divided into solvent-borne, water-borne, and others (including powder and UV-curing). The solvent-borne segment accounts for major share of the market. However, demand for solvent-borne coatings is gradually decreasing, as they contain volatile organic compounds (VOCs). Solvent-borne coatings are made up of liquefying agents that are meant to evaporate via the chemical reaction with oxygen. The water-borne segment is projected to expand at a rapid pace owing to its low VOC content and environment friendly nature. Water-borne coatings offer an eco-friendly surface treatment. Water is used as a solvent in these coatings to disperse the resin used to make coatings or paints. Water-borne coatings are widely used due to their low volatile organic compound (VOC) content (less than 3.5 pounds per gallon of water).
Based on region, the global automotive refinish coatings market has been split into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Rise in demand for automotive refinish coatings in Asia Pacific and Latin America is estimated to drive the market during the forecast period. The automotive industry in Asia Pacific is witnessing significant investments. The region is one of the automobile manufacturing hubs across the world. Rapid rise in car ownership in China is driving the demand for automotive refinish coatings in the country. In terms of consumption, Europe and North America follow Asia Pacific. However, expansion of the automotive refinish coatings market in these regions is slightly restrained due to the implementation of stringent regulations on VOC emissions. The market in North America and Europe is characterized by consolidation. Automotive vehicle sales have increased in Argentina, Brazil, and Colombia in Latin America. Increase in road accidents and rise in demand for recreational vehicles in Brazil are anticipated to boost the automotive refinish coatings market in the region.
The report analyzes and forecasts the automotive refinish coatings market at the global and regional levels. The market has been projected in terms of volume (kilo tons) and value (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global automotive refinish coatings market. It also covers the expected impact of these drivers and restraints on the demand for automotive refinish coatings during the forecast period. The report also highlights growth opportunities for the automotive refinish coatings market at the global and regional levels.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global automotive refinish coatings market. Porter’s Five Forces model for the automotive refinish coatings market has also been included to help understand the competition landscape. The study encompasses market attractiveness analysis, wherein process and technology segments have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global automotive refinish coatings market by segmenting it in terms of process, technology, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes current and future demand for automotive refinish coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual process, and technology segments of the market in all the regions.
The study includes profiles of major companies operating in the global automotive refinish coatings market. The global automotive refinish coatings market is dominated by large players. Key players operating in the market are BASF SE, Axalta Coatings, PPG Industries, Valspar Corporation, The Sherwin-Williams Company, Akzo Nobel NV, Nippon Paint Holdings, and KCC Corporation. Market players have been profiled in terms of company overview, business strategies, and recent developments.
The report provides the estimated market size (in terms of value and volume) of the global automotive refinish coatings market for the base year 2017 and forecast for the period from 2018 to 2026. Market numbers have been estimated based on process, application, and region. The market size and forecast for each process and technology segment have been provided for the global and regional markets.
Global Automotive Refinish Coatings Market, by Process
- Base Coat
- Clear Coat
- Others (including E-coat)
Global Automotive Refinish Coatings Market, by Technology
- Others (including Powder and UV-curing)
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Global Automotive Refinish Coatings Market, by Region
- Rest of Latin America
- Russia & CIS
- Rest of Europe
- Rest of Asia Pacific
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Extensive analysis of market trends from 2017 to 2026 to identify opportunities and market developments
- Analysis of various processes and technologies wherein automotive refinish coatings are used
- Identification of key factors responsible to build a roadmap for upcoming opportunities for the automotive refinish coatings market at the global, regional, and country levels
- Comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global automotive refinish coatings market between 2018 and 2026
- Detailed competition landscape of key players operating in the market to understand competition level
- Porters’ Five Forces analysis to highlight the power of buyers and suppliers in the market
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