Press release
Primary Catalyst Driving Refinish Paint Market Evolution in 2025: Impact Of The Rising Number Of Accidents On The Refinish Paint Market Driver
Refinish Paint Market
In the past few years, the refinish paint market has experienced robust increases in size. It is anticipated that it will rise from $8.38 billion in 2024 to $8.87 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.8%. The previous growth noted can be attributed to factors such as the rapid urbanization and industrialization, an expanding vehicle fleet, stringent environmental regulations, elements of sustainability, a surge in demand for customized solutions and a heightened concentration on aesthetics.
In the upcoming years, the refinish paint market is projected to experience substantial growth and it is estimated to reach $10.97 billion by 2029, with a compound annual growth rate (CAGR) of 5.5%. This anticipated growth can be linked to the transition towards waterborne and high solids coatings, the adoption of digital technologies, the pursuit of cost-efficient alternatives, the enlargement of automotive aftermarket services, and the broadening of distribution outlets. The primary trends to watch out for during this forecast period comprise improvements in polyurethane resins, advancements in color-matching procedures, the emergence of UV-cured coatings, the development of mobile applications and software solutions, and the introduction of smart coatings.
What Is Driving the Growth Trajectory of the Refinish Paint Market?
The escalating count of vehicular collisions is predicted to fuel the expansion of the refinish paint market in the future. Road mishaps, also referred to as motor vehicle accidents or traffic collisions, are incidents involving one or more automobiles on public roads causing damage to individuals, property, or both. The increased accident frequency is due to factors like traffic gridlock, unfocused driving, and compromised driving. Refinish paint is utilized to refurbish a vehicle's external look back to its state prior to the accident. This process requires reproducing the vehicle's original color and finish, which is crucial for visual uniformity and preserving the vehicle's worth. For example, the European Union's statistical department, Eurostat, recorded that in 2022, 20653 people lost their lives to road accidents in Europe, an increase of 3.7% from the 19917 deaths in 2021. Therefore, the upward trend in road accidents is fueling the expansion of the burgeoning refinish paint market.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15658&type=smp
Which Key Market Leaders Are Driving Refinish Paint Industry Growth?
Major companies operating in the refinish paint market are BASF SE, Mitsubishi Chemical Corporation, Sherwin-Williams Company, Evonik Industries AG, Covestro AG, PPG Industries Inc., Arkema S.A., AkzoNobel NV, Nippon Paint Holdings Co Ltd., Wacker Chemie AG, KCC Corporation, Axalta Coating Systems Ltd., Valspar Corporation, Kansai Paint Co Ltd., Jotun Group, Cytec Industries Inc., Berger Paints India Limited, Rust-Oleum Corporation, Hexion Inc., Allnex Group, TOA Group Company Limited, Momentive Performance Materials Inc., Diamond Vogel Paints, Dunn-Edwards Corporation, Hempel A/S
What Are the Emerging Trends in the Refinish Paint Industry?
Leading businesses in the refinish paint market are striving to stay competitive by innovating solutions using basecoat technology. This terminology pertains to the coat of paint applied after the primer but prior to the clearcoat during the automobile refinishing process. To illustrate, Axalta Coating Systems Ltd., from the US, has made a significant move in August 2022 with the launch of CromaxGen, their next-gen basecoat technology crafted for the auto refinish industry. This ground-breaking product offers exclusive features like accurate color formulas, productivity boosters, and cost control means, all designed to enhance productivity and manage costs for body shops across Latin America.
What Are the Main Segments in the Refinish Paint Market?
The refinish paint market covered in this report is segmented -
1) By Product Type: Solvent Borne, Waterborne, Powder
2) By Coating Type: Polyurethane, Epoxy, Acrylic, Other Coating Types
3) By Vehicle: Passenger Car, Light Commercial Vehicle, Bus, Truck
4) By Application: Clearcoat, Basecoat, Primer, Sealer
Subsegments:
1) By Solvent Borne: Alkyd-Based Paints, Epoxy-Based Paints, Acrylic-Based Paints
2) By Waterborne: Water-Based Acrylic Paints, Water-Based Epoxy Paints
3) By Powder: Thermosetting Powder Coatings, Thermoplastic Powder Coatings
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/refinish-paint-global-market-report
Which Geographic Area Leads the Refinish Paint Market?
Asia-Pacific was the largest region in the refinish paint market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the refinish paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Refinish Paint Global Market Report?
- Market Size Analysis: Analyze the Refinish Paint Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Refinish Paint Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Refinish Paint Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Refinish Paint Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15658
Connect with 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.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Primary Catalyst Driving Refinish Paint Market Evolution in 2025: Impact Of The Rising Number Of Accidents On The Refinish Paint Market Driver here
News-ID: 3866325 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Paint
SKSHU Paint: Life Enjoyment Wall Repair Paint
Image: https://www.abnewswire.com/uploads/6c917f12026802adfd22d2c0dd8f5805.png
This product is a fast-drying waterborne aerosol paint composed of waterborne acrylic resin, pigments and fillers. Odorless and environment-friendly, it has the advantages of easy application, good atomization, high spray rate, high film richness, excellent adhesion and strong hiding power.
Product Introduction
This product is a fast-drying waterborne aerosol paint composed of waterborne acrylic resin, pigments and fillers. Odorless and environment-friendly, it has the advantages of easy application, good atomization, high…
How to Solve the Paint Selection Problem? Understanding the Mystery of Latex Pai …
Introduction
Before starting this paint exploration journey, let's first think about why the choice of paint is so important. A warm and comfortable home, a smooth, brightly colored wall, not only can bring us visual enjoyment, but also create a unique atmosphere and mood. The coating, as a wall coat, its quality, performance and environmental protection directly affect our quality of life and health.
1. Definition and component analysis
Latex paint:
Definition: Latex paint…
Water Based Enamel Paint Market is Booming Worldwide | Intercoastal Paint, Nippo …
The latest study released on the Global Water Based Enamel Paint Market by AMA Research evaluates market size, trend, and forecast to 2027. The Water Based Enamel Paint market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about…
Global Refinish Paint for Automotive Market By Key Players: Akzo Nobel, BASF, 3M …
Qyresearchreports include new market research report Global Refinish Paint for Automotive Market Professional Survey Report 2018 to its huge collection of research reports.
This report studies the global Refinish Paint for Automotive market status and forecast, categorizes the global Refinish Paint for Automotive market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, India, Southeast Asia and…
Road Marking Paint Market Report 2018: Segmentation by Product (Thermoplastic Ma …
Global Road Marking Paint market research report provides company profile for Ennis Flint, Hempel, Geveko Markings, PPG Industries, Asian Paints PPG, SealMaster, 3M, Sherwin-Williams, Swarco AG, Nippon Paint and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018…
China Paint and Coatings Market Research Report 2017 - PPG, Akzo Nobel, Kansai P …
This report studies Paint and Coatings in China market, focuses on the top players in China market, with capacity, production, price, revenue and market share for each manufacturer, covering
PPG
Akzo Nobel
Kansai Paint
Nippon Paint
BASF
Axalta (formerly DuPont)
Chugoku Marine Paint
Valspar
Sherwin-Williams
Hempel
Market Segment by Regions (provinces), covering
South China
East China
Southwest China
Northeast China
North China
Central China
Northwest China
Split by product Type, with production, revenue, price, market share and growth rate of each type, can be divided into
Waterborne Coatings
High-solids Coatings
Powder Coatings
Others
Split…
