Automotive Refinish Coatings Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | KCC Corporation, BASF SE, PPG Industries Inc., Nippon Paint Holdings Company Limited

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Automotive Refinish Coatings Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $23.86 billion In 2028 At A CAGR Of 7.6% :

The automotive refinish coatings market size has grown strongly in recent years. It will grow from $9.22 billion in 2023 to $9.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to automotive repair and maintenance, increased number of vehicles on the road, aging vehicle fleet, rising incidence of accidents, consumer preferences for aesthetics, global expansion of automotive market.

The automotive refinish coatings market size is expected to see strong growth in the next few years. It will grow to $12.24 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to advancements in coating formulations, increased emphasis on sustainability, rise in demand for high-performance coatings, digital color matching solutions, globalization of automotive repair chains, changing consumer preferences. Major trends in the forecast period include technological advancements in coating formulations, waterborne coatings for environmental compliance, rise in adoption of uv-cured coatings, growing popularity of matte finishes, rising adoption of clearcoat technologies, increased investment in training and certification.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=8109&type=smp

Automotive Refinish Coatings Market Major Segments
The automotive refinish coatings market covered in this report is segmented -

1) By Product Type: Primer, Basecoat, Clearcoat, Activator, Filler and Putty 
2) By Technology: Solvent-borne Coatings, Water-borne Coatings, UV-cured Coatings, High Solid Coatings, Powder Coatings
3) By Resin: Polyurethane, Alkyd, Acrylic, Epoxy
4) By Application: Passenger Cars, Commercial Vehicles, Two-Wheeler
5) By End Use: OEM, Aftermarket

Key Driver - Rising Number Of Accidents Driving Automotive Refinish Coatings Market

The rising number of accidents is expected to propel the growth of the automotive refinish coatings market going forward. Accidents refer to any injury due to crashes involving a vehicle partially or fully on a public road. Automotive refinish coatings help to cover the damages caused to the vehicle body due to accidents. For instance, in January 2022, according to the Times of India, an Indian daily newspaper, road crashes rose by 10% in 2021, and over 400 people died in accidents. The number of road accidents was 796 in 2020, which increased to 874 in 2021. The number of road accidents in 2020 accounted for 347, which increased to 389 in 2021. Therefore, the rising number of accidents is driving the growth of the automotive refinish coatings market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=8109&type=smp

Prominent Trend - Technological Advancements Transform Automotive Refinish Coatings Market

Technological advancements are the key trend gaining popularity in the automotive refinish coatings market. Major companies operating in the market are introducing advanced technological solutions to sustain their position in the market. For instance, in January 2021, Nippon Paint Group, an India-based company that manufactures paint and coatings, launched its next-generation 'Paint Partner' digital color solutions. This technology is the latest digital color formula retrieval and correction system that is integrated with a spectrophotometer tool. Paint Partner is supported across all platforms, including the Web, Windows, and mobile apps (both iOS and Android). It has been integrated into two multi-angle spectrophotometers, one of which has a colored camera. Both of the devices have firmware that is specifically designed for Nippon Paint, are branded, Wi-Fi enabled, and have other powerful features such as touch screens, colored user interfaces (UI), the ability to choose flake or aluminum, and the ability to recommend a primer or surfacer. The equipment is designed to offer a distinctive and cutting-edge solution to the automotive painting industry and works with both solvent-borne and water-borne paint systems.

Automotive Refinish Coatings Market Players
Major companies operating in the automotive refinish coatings market report are KCC Corporation, BASF SE, PPG Industries Inc., Nippon Paint Holdings Company Limited, KAPCI Coatings Company, The Valspar Corporation, The Sherwin-Williams Company, 3M Company, Akzo Nobel N.V., Kansai Paint Company Limited, Bernardo Ecenarro SA, SEM Products Inc., Sheboygan Paint Company, Cresta Paint Industries Limited, Alps Coating Sdn Bhd, Masco Corporation, Jotun AS, Hempel A/S, Valspar Corporation, Berger Paints Ltd., Lord Corporation, Beckers Group, Cabot Corporation, HMG Paints Limited, Shanghai Kinlita Chemical Co. Ltd., Tikkurila Oyj, Karl WÖRwag Lack- Und Farbenfabrik Gmbh & Co. Kg, Duluxgroup (Investments) Pty. Ltd., Carpoly Co. Ltd., Kangnam Jevesco Co. Ltd., Mankiewicz Gebr. & Co., Shawcor Ltd.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/automotive-refinish-coatings-global-market-report

Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive refinish coatings market in 2023. The regions covered in the automotive refinish coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Refinish Coatings Market Report Structure
3. Automotive Refinish Coatings Market Trends And Strategies
4. Automotive Refinish Coatings Market - Macro Economic Scenario
5. Automotive Refinish Coatings Market Size And Growth
…..
27. Automotive Refinish Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.