Automotive Refinish Coatings Market By Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy and Nitrocellulose),growing at a CAGR of 5%

Automotive refinish coatings market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 10.5 billion growing at a CAGR of 5% in the above-mentioned forecast period. The high number of road collisions worldwide and the need for repair & maintenance of these vehicles afterwards has been directly impacting the growth of automotive refinish coatings market.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-automotive-refinish-coatings-market

Automotive refinish coatings are mainly used in automotive body shops and repair centres for refinishing the vehicles. Automotive refinish coatings market also enhances the appearance of vehicles and also improves their durability, along with growing demand for recreational vehicles and increase in the number of vehicle collisions on a large scale. Automotive refinish coatings covers the painting of cars, trucks, or other vehicles, partly or totally, and of single parts of vehicles, often after mechanical or coachwork repairing.

High levels of road accidents & collisions, which invokes the need for repair & maintenance of the vehicles is the main driver for automotive refinish coatings market. Increase in disposable income and increasing preference of aftermarket modifications of the vehicle is also a driver for the automotive refinish coatings market. High-quality finish and reduced emissions provided by high solid formulations increased its use in the automotive industry is also an opportunity for the growth of automotive refinish coatings market.

Increase in VOC (volatile organic compounds) emissions during the production and preparation of the substrate surface of the vehicles is a challenge for automotive refinish coatings market. However, stringent regulations and revaluation of these regulations amid the emissions associated with these products is a restraint in growth of automotive refinish coatings market during the forecast period of 2021-2028.

Key Players Analysis:

The major players covered in the automotive refinish coatings market report Axalta Coating Systems LLC, BASF SE, PPG Industries Inc., Kansai Paint Co.Ltd., NIPSEA GROUP, Bayer AG, KCC CORPORATION, Akzo Nobel N.V., The Sherwin-Williams Company, Berger Paints India Limited, Cabot Corporation, Clariant, NOROO Paint & Coatings co.Ltd., KAPCI Coatings, Alsa Refinish and The Alsa Corporation, The Dow Chemical Company, Diamond Fleet Coating Systems, The Lubrizol Corporation, and ALTANA. are among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Automotive Refinish Coatings Market Scope and Market Size

Automotive refinish coatings market is segmented on the basis of resin type, coating technology, product and vehicle age. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

Based on resin type, the automotive refinish coatings market is segmented into acrylic, alkyd, polyurethane, epoxy and nitrocellulose.

Based on coating technology, the automotive refinish coatings market is segmented into waterborne, solvent-borne and UV-cured.

Based on product, the automotive refinish coatings market is segmented into primer, basecoat, putty, activators, filler and topcoat.

Automotive refinish coatings market has also been segmented based on vehicle age, into less than 5 years, 5-10 years and more than 10 years.

Automotive Refinish Coatings Market Country Level Analysis

Automotive refinish coatings market is analysed and market size insights and trends are provided by country, resin type, coating technology, product and vehicle age as referenced above.

The countries covered in the automotive refinish coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the automotive refinish coatings market due to due to increasing passenger vehicles sales. Middle East and Africa is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to rising demand for maintenance of luxury vehicles and performance vehicles and increase in disposable income in the region on account of mature oil and gas industry has ascended the sale for luxury vehicles in the region.

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This release was published on openPR.