Refinish Paint Market Overview, Competition Analysis, Production, Revenue, Supply And Key Players

The increasing use of vehicles worldwide will help affect the growth of the refinished paint market in the forecast period. Growth in the market is also expected to progress due to increasing demand for vehicles, increasing demand for refinished coatings from different end-users and increasing adoption of growth strategies by key players. Increasing demand for recreational vehicles, on the other hand, will further boost numerous new opportunities that will lead to the growth of the refinished paint market in the forecast period referred to above.

Volatility in the prices of raw materials and improved safety features of advanced vehicles will hamper the growth of the market for refinished paint.

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Growth Drivers that Support the Global Refinish Paint Market:

• In 2016, the polyurethane resin segment accounted for the largest share of the overall automotive paint refinishing industry. Due to its excellent temperature, corrosion, and mechanical resistance, the growth in this segment is supported by its preference for clearcoat and basecoat layers.
• The passenger car has led the technology segment of the refinishing paint industry and is expected to sustain its dominance throughout the forecast era. The segment is driven by rising demand for vehicles in emerging economies such as China, India, Mexico, and others. The rise is also supported by the increasing income of the population of the middle class and the increased tendency of car owners to repair their car after any crash.
• The refinished automotive paint market in the Asia-Pacific region is expected to see the fastest growth during the forecast period. Emerging economies such as China, India and various countries in Southeast Asia are attracting multiple global players to develop their Asia-Pacific manufacturing base. In countries such as China and India, these manufacturers compete to enter a broad customer base to meet the growing demand for refinishing coating from the various end-users in these countries.
• Due to the visual appearance, surface safety, and resistance to corrosion, extreme weather, temperature, heat, and water, the growing use of refinishing coatings for automotive maintenance, repair, and aftermarket painting is expected to encourage industry expansion. In addition, the growth is likely to be supported by the increasing need for customized designs and paints on vehicles.
Companies Seek to Expand their Global Foot-Print
• 21 September, 2020 - A new international automotive refinishing product framework under the n-MAX brand has been introduced by Nippon Paint India. With this launch, through its latest state of the art product line that is built to succeed in all geographical regions and weather conditions worldwide, Nippon Paint is expanding its presence in the Indian and foreign car refinishing markets.
• 08 September 2020 - the Coatings division of BASF introduces A new advanced refinishing product line. The goods are designed to meet the highest demands of modern body shops by increasing performance and dramatically lowering the environmental impact.⠀

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Major companies functioning in the global Refinish Paint Market are PPG Industries, Axalta Coating Systems, BASF, Sherwin-Williams, Akzonobel, 3M, Nippon Paint, Kansai Paint¸ KCC, Novol, Donglai Coating, Noroo Paint & Coatings, Kapci Coatings, Lubrizol, Guangzhou Zhenroumei Chemical Coatings, Cresta Paint Industries, Besa, HMG Paints, Samhwa Paints Industrial, Weg Group, Alps Coatings.

Market Segmentation:

By Layer:
• Clearcoat
• Basecoat
• Primer
• Sealer

By Resin:
• PU
• Epoxy
• Acrylic

By Technology:
• Waterborne
• Solventborne
• Powder

By Vehicle Type:
• Passenger Cars
• Commercial Vehicles

By Region:
• North America
o North America, by Country
 US
 Canada
 Mexico
o North America, by Layer
o North America, by Resin
o North America, by Technology
o North America, by Vehicle Type
• Western Europe
o Western Europe, by Country
 Germany
 UK
 France
 Italy
 Spain
 The Netherlands
 Rest of Western Europe
o Western Europe, by Layer
o Western Europe, by Resin
o Western Europe, by Technology
o Western Europe, by Vehicle Type
• Asia Pacific
o Asia Pacific, by Country
 China
 India
 Japan
 South Korea
 Australia
 Indonesia
 Rest of Asia Pacific
o Asia Pacific, by Layer
o Asia Pacific, by Resin
o Asia Pacific, by Technology
o Asia Pacific, by Vehicle Type
• Eastern Europe
o Eastern Europe, by Country
 Russia
 Turkey
 Rest of Eastern Europe
o Eastern Europe, by Layer
o Eastern Europe, by Resin
o Eastern Europe, by Technology
o Eastern Europe, by Vehicle Type
• Middle East
o Middle East, by Country
 UAE
 Saudi Arabia
 Qatar
 Iran
 Rest of Middle East
o Middle East, by Layer
o Middle East, by Resin
o Middle East, by Technology
o Middle East, by Vehicle Type
• Rest of the World
o Rest of the World, by Country
 South America
 Africa
o Rest of the World, by Layer
o Rest of the World, by Resin
o Rest of the World, by Technology
o Rest of the World, by Vehicle Type

Years Covered in the Study:
Historic Year: 2016-2017
Base Year: 2018
Estimated Year: 2019
Forecast Year: 2028

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This release was published on openPR.