Rising Number Of Accidents Driving Automotive Refinish Coatings Market Driver: Leading Transformation in the Automotive Refinish Coatings Market in 2025

Which drivers are expected to have the greatest impact on the over the automotive refinish coatings market's growth?
The increasing incidence of accidents is predicted to spur the expansion of the automotive refinish coatings market. Accidents are considered as any harm resulting from collisions involving a vehicle that is partially or entirely on a public road. Automotive refinish coatings are used to repair damage inflicted on the vehicle's body due to accidents. For example, the National Highway Traffic Safety Administration, a government agency based in the US, reported in June 2024 that an approximated 2.38 million people were injured in car accidents in 2022, as opposed to 2.50 million in 2021. As a result, the escalating accident numbers are fueling the advancement of the automotive refinish coatings market.

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What is the future CAGR of the automotive refinish coatings market, and how will it impact industry expansion?
There has been substantial expansion in the automotive refinish coatings market in the past few years. The market, worth $9.7 billion in 2024, is projected to see a rise to $10.24 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%. The reasons for growth in the earlier period include an increase in automotive repair and maintenance, a larger number of vehicles on the road, and an aging vehicle fleet. Further factors include a higher frequency of accidents, a consumer preference for aesthetics, along with global growth in the automotive market.

The market for automotive refinish coatings is projected to experience robust growth in the upcoming years, reaching a value of $13.16 billion in 2029 with a compound annual growth rate (CAGR) of 6.5%. This growth is fuelled by the progress in coating formulations, a heightened focus on sustainability, an escalated demand for high-performance coatings, the adoption of digital color matching solutions, the global expansion of automotive repair chains, and shifts in consumer preferences. The forecast period is expected to witness trends such as the development of technology in coating formulations, the use of waterborne coatings for environmental compliance, increased uptake of UV-cured coatings, growing preference for matte finishes, rising implementation of clearcoat technologies, and amplified investments in training and certification.

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What are the most significant trends transforming the automotive refinish coatings market today?
The significant uptrend emerging in the automotive refinish coatings sector is rooted in technological progression. In an attempt to maintain their standing in the market, primary businesses are flexing their innovative muscles and launching tech-powered solutions. For instance, in November 2023: PPG Industries, Inc., which is based out of the US and renowned for its paint and coating manufacture, rolled out PPG DP7000 Air-Dry Primer across various automotive refinish markets including Europe, the Middle East, and Africa. This deluxe dual-pack acrylic primer adheres to European volatile organic compound (VOC) rules and aligns well with PPG's topcoat systems. It's designed with a swift air drying functionality to boost productivity and the cutback of energy usage. The PPG DP7000 holds the ability to dry at double the speed of rival technologies, functions in all moisture conditions, and enables baking or infrared curing when needed. The primer's advanced attributes aid in boosting the profits of bodyshops and simultaneously cutting down their environmental footprint.

Which key market segments comprise the automotive refinish coatings market and drive its revenue growth?
The automotive refinish coatings market size has grown strongly in recent years. It will grow from $9.7 billion in 2024 to $10.24 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. 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.

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What regions are at the forefront of automotive refinish coatings market expansion?
Asia-Pacific was the largest region in the automotive refinish coatings market in 2024. The regions covered in the automotive refinish coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the automotive refinish coatings market?
Major companies operating in the automotive refinish coatings market 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, 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.

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What Is Covered In The Automotive Refinish Coatings Global Market Report?

• Market Size Forecast: Examine the automotive refinish coatings market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automotive refinish coatings market for a structured understanding.
• Key Players Overview: Analyze major players in the automotive refinish coatings market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive refinish coatings market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automotive refinish coatings market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive refinish coatings market.
• Industry Challenges: Identify potential risks and obstacles affecting the automotive refinish coatings market.
• Competitive Landscape: Review strategic developments in the automotive refinish coatings market, including expansions, agreements, and new product launches.

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