Automotive Refinish Coatings Market Worth US$ 11 Billion by 2021

New York, November 24: Market Research Engine has published a new report titled as “Automotive Refinish Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023”

The global automotive refinish coatings market is expected to grow at a CAGR of 6 % during the forecast period (2015–2021) and would reach $11 billion by 2021.

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The Automotive vehicles need to be repaired at a frequency as there are damages caused due to external factors such as stones, damages due to accidents and other reasons. The market witnessed a vast growth in the last 5 to 6 years due to the increase in the number of the vehicle collisions and the inclination of the people to repair them.

The key market players have adopted different strategies to boost the market. Acquisition and expansion are one of the best strategies to boost the market. Asia Pacific is the largest consumer of the automotive refinish market which accounts for more than 35% of the total consumption.

The major driving factors Automotive Refinish Coating Markets are as follows:

• Increasing number of accidents, adoption of newer technologies and rising disposable income in the developing economies.
• Growing demand of recreational vehicles in the developed regions of North America and Europe.

The restraints factors of Automotive Refinish coating market are as follows:

• Government regulations on the utilization of high volatile organic compounds (VOC) level coatings is increasing which may affect the growth of solvent-borne market.

The Automotive Refinish Coating market is segmented based on Product type such as Primer Basecoat, Clearcoat, Activator, Filler & Putty, Others. The Automotive Refinish Coating market is segmented based on Technology as Solvent-borne Coatings, Water-borne Coatings, UV-cured Coatings. The Automotive Refinish Coating market is segmented based on Resin as Polyurethane, Alkyd, Acrylic, Others.

The Automotive Refinish Coating market geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.

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This report provides:

1) An overview of the global Automotive Refinish Coating Market and related technologies.

2) Analyses of global market trends and projections of compound annual growth rates (CAGRs) through 2020.

3) Identifications of new market opportunities and targeted promotional plans for Automotive Refinish Coating Market.

4) Discussion of research and development, and the demand for new products and new applications.

5) Comprehensive company profiles of major players in the industry.

REPORT SCOPE:

The scope of the report includes a detailed study of global and regional markets for various types of Automotive Refinish Coating market with the reasons given for variations in the growth of the industry in certain regions.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Axalta Coating Systems, BASF SE, Kansai Paint Co. Ltd., Mitsui Chemicals, PPG Industries, Inc., Nippon Paints, Sherwin Williams, 3M Co. and Matrix System Automotive Finishes. Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.

The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.

Market segmentation of Automotive Refinish Coating Market:

Market by Product Types

• Primer
• Basecoat
• Clearcoat
• Activator
• Filler & Putty
• Others

Market by Technology

1. Solvent-borne Coatings
2. Water-borne Coatings
3. UV-cured Coatings

Market by Resin

• Polyurethane
• Alkyd
• Acrylic
• Others

Market by Geography

• North America
• Europe
• Asia-Pacific
• LAMEA

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